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"Guaranteed Basic Income"

I find that as often as not I agree with Matt Bruenig on policy matters. But those points of agreement can be obscured for me by differences of temperament and politics. Here though I find myself entirely in agreement with him on something called Modern Monetary Theory. You may not even have heard this phrase before. But you should and probably will soon. If you haven’t, you should familiarize yourself with it because it bulks very large in many current debates within the Democratic Party that you have heard about. It’s a big deal. Bruenig aptly describes it as “about using word games to make people believe that the US can have Northern European levels of government spending without Northern European levels of taxation.”

It’s not easy to simply explain what MMT is because it operates at several distinct and not always closely related levels. Read More