Education

Degrowth is a Value system that IS Compatible with MMT!

by Real Progressives

📚 Main topics

MMT and degrowthMMT is compatible with either high-pollution, mass-consumption growth or a sustainable strategy that shifts economic activity toward sustainable products. Degrowth is not an inherent part of MMT; it is a value system and a way of thinking about humanity’s future on the planet. 1:08
MMT as a frameworkMMT provides a lens for understanding the capacities of a currency-issuing government and the consequences of using them. It does not prescribe a single political ideology or strategy for living. 2:09

✨ Key takeaways

Values shape policyPeople with the same MMT understanding may support very different policies, because their values and ideologies guide how they use that knowledge. 3:10
State investment and degrowthImplementing a degrowth strategy would require significant state investment. MMT helps shift debate away from “how will we pay for it?” and toward other questions. 3:42

🧠 Lessons learned

Challenge sound-finance thinkingWithout an MMT understanding, debates about green investment can revert to sound-finance arguments that derail progressive agendas. 4:12
Build public understandingBroader understanding of MMT is important for making progress toward substantially changing how economic activity is conceived and carried out. 4:44

🏁 Conclusion/next steps

A foundation for degrowthThe speaker considers an MMT understanding a necessary and sufficient condition for embarking on a degrowth path. 5:17

MMT modern monetary theory bill mitchell bill mitchell interview macro n cheese steve grumbine real progressives real progress in action sustainability degrowth mass consumption bill mitchell economist bill mitchell mmt macro n cheese interview degrowth movement degrowth economics degrowth vs green growth modern monetary theory explained degrowth socialism degrowth climate change degrowth jason hickel jason hickel climate change climate crisis growth

Transcript excerpt

0:04 let's talk about this term degrowth I believe from my vantage point I have a more nuanced understanding than some do on this I've spoken to people like Jason Hickel who I believe are really coming firmly into the mmt camp he's a strong proponent for a job guarantee now not the Ubi and it's just been an amazing transformation from my perspective watching him change but when I think of mmt I think of Bill Mitchell and so I wanted to get your perspective and again

0:36 you wrote extensively on this I really appreciated you taking the time to put this in writing but I figure for folks that maybe don't read as much maybe they would listen to a conversation about degrowth and its relationship with modern monetary Theory it's a complex subject and it's like all of these things it's an arena for misperception and fictions and there relationship between the degrowth movement and mmt it's quite unclear in my view

1:08 the way it is presented out there but it's not unclear to me and the way I think about it is that mmt is compatible with deep hard industry pollution and massive growth if you want it to be and it's also compatible with a highly sustainable strategy to reduce our Reliance on mass consumption and to divert our economic activity which we normally think is

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