Navigating Modern Monetary Theory

This chapter explores the intricacies of Modern Monetary Theory (MMT) and its implications for government spending priorities, particularly between military and social initiatives. It critiques the conventional reliance on taxing the wealthy to fund essential public services and advocates for a decoupling of public spending from tax revenue. Furthermore, the chapter examines the complexities of wealth inequality and the resistance to MMT within traditional economic circles, highlighting the urgent need for a renewed focus on class dynamics in political discussions.