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this post was submitted on 23 Sep 2023
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the_dunk_tank
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It's the dunk tank.
This is where you come to post big-brained hot takes by chuds, libs, or even fellow leftists, and tear them to itty-bitty pieces with precision dunkstrikes.
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Look I don't know how useful or "good" is it to be extremely aggro on twitter/nitter like Roderic usually is, but he's right.
I can never really fault him for it, it's a dumb social media and there's not much point to it if you don't actually engage with people and are able to criticize what they say, especially when talking about influencial people with a platform. And yea, he's very aggro, but his original response is not really directed at JP as a person, just angry and critical at the ideas he's peddling, and for good reason.
JP's reponse is a pretty typical one for western leftists. Criticism is seen as an attack, it is always reinterpreted in an individualistic lens. Attacking someone's really dumb or dangerous idea is immediately rolled back with "woah there calm down maybe you could be civil" as if the person criticizing is being mean, rude, or violent, when often (as is the case here) that's not the case. If you're going to talk about political things and ideas like there, and someone tells you publically "This is completely wrong and dangerous what the fuck", your response shouldn't be "Why are you attacking me?". Criticism is not a conflict, it's not a fight, it's not personal, and it is extremely important and necessary.
I think RD is being a bit too debatebroish with this. I just watched JTs video and didn't really see anything wrong with it, I don't think he's presenting it as this end all be all solution, just as a tool to get us to communism. He also made it clear he's aware that MMT would have severe limitations in a capitalist state.
my understanding is MMT doesn't work in countries outside the imperial core because they don't have currency sovereignty. MMT theorists are basically describing the USA leveraging its dollar hegemony.
I've been saying this for a while. If a country does not have a highly sovereign project or the ability to influence things such as credit ratings agencies, implementing MMT and printing money is a recipe for credit ratings downgrades, investment withdrawal, sanctions and hyperinflation/currency devaluation. And most countries in the global south do not have a sovereign project or have even begun the process of delinking from the imperial core. Even those in the global south that view MMT as a viable economic strategy place huge emphasis on delinking in order to solve the problem of sovereignty.
Look what happened when the MMT proponents got ahold of things in Greece. It failed rather quickly and buckled back into neoliberal economics because Greece has no sovereignty, it's an EU vassal
Yeah that's a good point, the video was pretty US centric tho but yeah I agree MMT doesn't make sense for a huge chunk of countries.
MMT is only coherent under a capitalist state. It's incoherent under a communist state, a communist state doesn't have monetary theory or money. A socialist transition state, ie. a dictatorship of the proletariat should be more concerned with the final outcomes of social policies and less concerned with costs and money printing, increasing planned portions of the economy when possible.
So basically.... it's either incoherent or extremely limited and reformist and we should move past it very rapidly in a dictatorship of the proletariat in a modern capitalist state that doesn't have to build productive forces or bide time. OK, I'm not really that interested.
I don't really see how MMT by itself goes against this. As I see it MMT would just be a framework for how you're allocating physical resources, I don't see how it'd stop you from implementing good social policies in a socialist country.
Also how would a transition period look like according to you before you can actually implement a planned economy?