[Marxism] There's no need for all this economic sadomasochism | David Graeber | Comment is free | The Guardian

Andrew Pollack acpollack2 at gmail.com
Mon Apr 22 11:19:34 MDT 2013

Oh for goodness sake. How pathetically frivolous.

This "solution" is the best the ideologue of the ultra-radical Occupy
movement can come up with?

I'll have to put off until later reading the linked overview of Modern
Monetary Theory (can anyone summarize it succinctly?). But it's clear from
Graeber's article, and the policy paper he cites, that this supposedly
revolutionary bond/tax proposal would just shuffle money around among
states and investors -- and thus would lead in the end once again to
austerity demands.

Notice also Graeber's heavy reliance on morality, which supposedly drives
austerity programs and economic policy in general. (See Marx on Proudhon's
morality-based economics and politics.)

But then morality is the centerpiece of his whole (a)historical
debt/currency schema.

On Sun, Apr 21, 2013 at 8:54 PM, Louis Proyect <lnp3 at panix.com> wrote:

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