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007. Marcos on MMT - Yes We Can, for Real
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It’s easy to think that the US Federal government is like a household, but where do dollars come from?
Marcos shares his views on the importance and need for modern monetary theory (MMT) - for rappers and for everyone else. Jim helps to build a common understanding of the terms and ideas discussed.
TIMESTAMPS
0:00 - Tax, Spending & Households
1:36 - Money: The power of an illusion?
2:48 - Questioning assumptions
3:10 - Hope: Currency issuing gov.
4:13 - Jim: Interest in investing
4:50 - Poetic, prophetic point of view
5:35 - The need to know what really money is.
6:59 - Taxation: the source of the value of money
8:44 - Econ for framing a moral vision.
9:30 - MMT money story
12:15 - Jim asks about MMT and inflation.
14:00 - MMT attempts to describe, not prescribe.
15:43 - Nominal vs. real
16:30 - Jesus understood taxes, authority & money.
18:00 Prosperity: resources developed.
19:56 - Price level, gov. & dev.
21:42 - Gov. can pay for full employment.
23:30 - Jim: Does resource framework still risk inflation?
26:50 - How MMT tackles inflation: systemic analysis
29:40 - Jim: Job guarantee vs. Universal Basic Income (UBI)
35:20 - Marcos responds: MMT ties spending to employment
45:20 - Jim reflects: Unemployment complicated, UBI versatile
54:30 - Marcos: MMT & public policy flexibility
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#alAndar #MarcosdelaGuagua #JimNog
MARCOS' LINKS
- Instagram: @marcos_de_la_guagua
- TikTok: https://www.tiktok.com/@marcosdelaguagua
- Twitter: @delaguagua
- Website: MarcosdelaGuagua.com
JIM'S LINKS
- Instagram: @jimnog
- TikTok: https://www.tiktok.com/@jimnog27
- Twitter: @jimnog
- Website: JamesNoguera.com
REFERENCES
- Pavlina Tcherneva: Pavlina-Tcherneva.net
- Fadhel Kaboub: denison.edu/people/fadhel-kaboub
- Stephanie Kelton: StephanieKelton.com
- Warren Mosler: MoslerEconomics.com
- The MMT Podcast: themmtpodcast.com
CREDITS:
- Art: James Noguera
- Music: Marcos de la Guagua & Jim Nog
- Episode edit: Marcos de Jesús
- Show notes: James Noguera & Marcos de Jesús
DISCLAIMERS:
- While we may opine on political or religious topics during our discussions, the main goal of the podcast is to talk about art.
- Silence or absence of opinion from one of us doesn't imply agreement or endorsement of the other's stance.
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