Summary: This week I am delighted to welcome back Alexander Douglas to show. Alex is a lecturer in philosophy at St. Andrews University, and is the author of ‘The Philosophy Of Debt’. This show digs deeper into the murky world of understanding the differences and possible syntheses between MTT and Marxist economics. We discuss the problems an inflationary crisis poses to MMT, the stability of MMT and a job guarantee under times of duress, and Kalecki’s class based critique of full employment policies. We also discuss keynsian accounting identities, what they mean for marx’s ideas on profits driving investment, and the impact of government investment upon our understanding of Marxist economics. Enjoy!
