If you want a giggle this analysis of MMT from a hard Marxist perspective is amusing for the politics and economics geek. Written by Adam Booth, it could have been improved by even a little reading of what MMT is about. It makes the most basic of errors. So many in fact, I have no time to point them out.
Actually, the first half – got bored, sorry – looks pretty good.
I think what’s pissing on Spudda’s chips is that Marx was actually correct in that money arises from the desire to track debt rather than state action. That’s so not Tutto nello stato that Snippa just can’t allow it to be so.
“I think what’s pissing on Spudda’s chips….”
Is this….
“Despite being the self-proclaimed author of ‘Corbynomics’ and founder of demands such as ‘People’s Quantitative Easing’ and the UK’s version of the Green New Deal, Murphy has been kept at arm’s length by the Labour leadership, who have categorically rejected MMT and its policy prescriptions.”
Complete with a link to McDonnell’s
“[Murphy] is not the economic adviser and never has been, because we doubted his judgment, unfortunately. He is a tax accountant, not an adviser. He is actually excellent on tax evasion and tax avoidance, but he leaves a lot to be desired on macroeconomic policy.”
It makes the most basic of errors. So many in fact, I have no time to point them out.
This is perhaps the funniest line Murphy’s ever written.
If that son of a bitch has anything in spades, it’s time. He has no job, no career, and no family. Just about all he has is time.
I also got bored after a while. Eminent sense is followed by non sequitur conclusions. Marxists are essentially religious people. No logic required, just faith.