#195 Capitalists Hate Capitalism with Cory Doctorow
The MMT Podcast with Patricia Pino & Christian Reilly
The Perils of 'Too Big to Care'
This chapter explores the accountability issues faced by large institutions and corporations, emphasizing the indifference experienced by individuals dependent on these entities. It critiques mainstream economic theories around unemployment, advocating for a re-evaluation of systemic factors through the lens of Modern Monetary Theory (MMT). The discussion further investigates the complexities of economic systems, wage dynamics, and the significance of coalition-building in political change.
Patricia and Christian talk with author and activist Cory Doctorow about capitalism, culture and… [checks notes] marshmallows!
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Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast
All our episodes in chronological order: https://www.patreon.com/posts/43111643
All our patron-only episodes: https://www.patreon.com/posts/57542767
TAKE ACTION ON DISABILITY RIGHTS:
Find your MP: https://members.parliament.uk/FindYourMP
Consultation on UK government “reforms” to benefits: https://www.gov.uk/government/consultations/pathways-to-work-reforming-benefits-and-support-to-get-britain-working-green-paper
LIVE EVENTS!
March 22nd & 23rd Scotonomics Festival of Economics: https://scotonomics.scot/event/
SAVE THE DATES!
Modern Money Lab UK weekend Seminars featuring Dr Steven Hail:
June 21st & 22nd - Rethinking Capitalism
June 28th & 29th - Money, Government and the Public Interest - Beyond The Deficit Myth
Further details here: https://modernmoneylab.org.uk/events/
JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): https://actionnetwork.org/forms/activist-registration-form
MMT: THE MOVIE!
- “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: https://findingthemoney.vhx.tv/products/finding-the-money
- Updates on worldwide screenings of “Finding The Money” can be found here: https://findingmoneyfilm.com/where-to-watch/
- To arrange a screening of “Finding The Money”, apply here: https://findingmoneyfilm.com/host-a-screening/
STUDY THE ECONOMICS OF SUSTAINABILITY!
- Details of Modern Money Lab’s online graduate, postgraduate and standalone courses in economics are here: https://modernmoneylab.org.au/
Relevant to this episode:
- Buy Cory’s Doctorow’s latest book: https://us.macmillan.com/books/9781250865908/picksandshovels/
- Cory’s daily blog: https://pluralistic.net/
- Cory’s live dates: https://pluralistic.net/2025/03/20/birchpunk/#upcoming
- “What is money” by A. Mitchell-Innes: https://www.community-exchange.org/docs/what%20is%20money.htm
- Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508
- Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678
- Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835
- Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379
- Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558
For an intro to MMT:
- Our first three episodes: https://www.patreon.com/posts/41742417
- Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318
Quick MMT reads:
- Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/
- Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095
- Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/
For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf
Episodes on monetary operations:
- Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824
- Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318
- Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887
- Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683
- Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183
- Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929
For more on Quantitative Easing:
- Episode 59 - Warren Mosler: What Do Central Banks Do?: https://www.patreon.com/posts/39070023
- Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true
Episodes on inflation:
- Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508
- Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678
- Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835
- Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379
- Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558
Our Job Guarantee episodes:
- Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701
- Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543
- Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346
- Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/
More on government bonds (and “vigilantes”):
- Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245
- Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500
- Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true
- Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421
- Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513
- Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true
More on bank runs banking regulation:
- Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true
- Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true
- Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true
- MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: https://neweconomicperspectives.org/2010/02/warren-moslers-proposals-for-treasury.html
MMT Events And Courses:
- More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: http://www.mmted.org/
- Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: https://modernmoneylab.org.au/
Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html
MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies
MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship
A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757
We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos
Show notes: https://www.patreon.com/posts/124913674?pr=true
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