MMT For M4A with Fadhel Kaboub


Manage episode 342774675 series 2809925
By Steve D Grumbine MS, MBA, PMP, PSM1, ITIL, Steve D Grumbine MS, MBA, PMP, PSM1, and ITIL. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

The movement for free universal healthcare is under attack. Groups like March for Medicare for All, National Single Payer, and others, have been criticized for not buying into the Democratic Party’s agenda promoting individual state healthcare initiatives. The party wants us to stop pressuring Congress. They tell us to go home. They say there’s more likelihood of success in our statehouses.

Well, MMT-informed activists can see through the party’s obfuscation. The single-state solution is no solution at all. The US federal government is the currency issuer; it creates US dollars by spending them into existence. States and cities are currency users. Before they can spend, they must somehow earn or borrow that money, ultimately placing the burden onto the citizens, whether through taxes or cuts to other programs. It doesn’t matter how fat their tax base is, even the state of California and the city of New York must balance their budgets. The difference between currency issuer and currency user is at the heart of the matter.

Since its founding, Real Progressives’ stated mission has been to help arm activists with a useful understanding of Modern Monetary Theory.

“We're not going to move the needle unless we mobilize and organize. And as I say, sometimes it's not enough to be angry and it's not enough to raise the pitchforks. We want not just organized pitchforks but well-informed pitchforks. And I think MMT provides the right framing to mobilize this movement.”

This week’s episode comes from the webinar we hosted as part of our RP Live series for our friends at M4M4ALL. It gave them the opportunity to talk with one of our favorite economists, Fadhel Kaboub, who spent the hour answering their questions and arming them against the “taxpayer dollars” bamboozlement of those in power. In the Macro N Cheese clubhouse, we like to say we’re weaponizing knowledge.


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Dr. Fadhel Kaboub is an Associate Professor of Economics at Denison University and President of the Global Institute for Sustainable Prosperity.

@FadhelKaboub on Twitter

218 episodes