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Grace Blakeley has responded to my suggestion that she is wrong about modern monetary theory (MMT), href="https://www.taxresearch.org.uk/Blog/2025/11/30/why-grace-blakeley-is-wrong-about-mmt-...
I think modern monetary theory (MMT) matters. That is not because it is perfect, because no theory is. Instead, it is because it explains something that almost no one in mainstream economics has ever properly addressed, which is what money actually is. And once you understand money, you understand power. And once you understand power, you start asking what are cons...
November is not quite over yet, but it is already the best month ever in the history of this blog:
All I can say is thank you. It's been quite a year.
Some on the Marxist left of politics, including those of that persuasion who have now entered the Greens in England and Wales with the clear aim of pushing it in a Marxist, class warfare-based direction, have decried modern monetary theory because it "has no theory of class inherent in it". Comments href="https://www.taxresearch.org.uk/Blog/2025/11/28/is-mmt-as-dangerous-a...
Grace Blakeley has replied to what I wrote about why parts of the left oppose modern monetary theory. In doing so, she has reinforced every point that I made.
Her claim is that underst...
