Let's Talk About MMT and Why It Matters
Think of economics like a game. Most people believe the rules are set in stone - like the laws of physics. But Modern Monetary Theory (MMT) says, "Hold up, we made these rules ourselves." It's a bit like realising that money itself is just something we all agreed to believe in.
Here's what makes MMT different: it looks at the economy as a human creation rather than a force of nature. Imagine if we treated Monopoly rules as unchangeable laws of the universe - sounds silly, right? That's how MMT views traditional economics. The rules we play by are choices we've made, shaped by power, politics, and social dynamics.
However, here's where it gets interesting. MMT isn't pushing any particular political agenda. It's more like a lens through which to view economic reality. Just as you could use a microscope to study either harmful or helpful bacteria, MMT can be used by people with different political beliefs. Conservatives and progressives might both use MMT concepts but reach completely different conclusions about what we should do with them.
MMT also takes a refreshingly humble approach to knowledge. Instead of claiming to have all the answers, it suggests we need multiple perspectives to understand something as complex as an economy. It's like the old story of blind men describing an elephant - each person touches a different part and comes away with a different description. MMT says we need all these viewpoints to get the full picture.
This openness to different perspectives isn't just talk. MMT folks regularly bring insights from law, sociology, anthropology, and history. They're not just looking at numbers and graphs - they're considering how human behaviour, social structures, and cultural beliefs shape our economic reality.
What makes this approach powerful is its practicality. Rather than getting stuck in theoretical debates, MMT provides a framework for tackling real-world problems. It's like having a Swiss Army knife instead of just a hammer - you have more tools to work with and can approach problems from multiple angles.
The big takeaway? Economics isn't just about mathematical models or unchangeable laws. It's about human choices, power relationships, and the stories we tell ourselves about how money works. MMT reminds us that if we create these economic systems, we can also change them - but first, we must understand them from all angles.
And maybe that's why MMT feels so relevant today. In a world where old economic assumptions keep failing us, we need fresh ways of thinking about money, value, and the choices we make as a society. MMT doesn't give us all the answers, but it does give us better questions to ask.
Unmask Economics with Me
Economics has a dirty secret: no one really knows how this thing works.
Sure, we've got models. Equations. Theories backed by centuries of academic papers. But then reality hits - a pandemic, a banking crisis, a random tweet from Elon - and suddenly, those elegant models look more like elaborate fiction.
We're done pretending.
These draft papers aren't polished academic work. They're our attempt to rebuild economic theory from the ground up. We're looking at everything from Indigenous trading systems to modern monetary mechanics, asking questions like:
What if we've completely misunderstood how taxes work? (Our Strategic Preparatory Financing paper suggests we have.)
What if the economy isn't about equilibrium but about buffer stocks all the way down? (Orthodox economists are already pushing back on this one.)
What if the informal networks keeping communities alive during crises aren't just stopgaps but the foundation of how economies actually function?
Some of these ideas will fail. Some might fundamentally change how we think about economics. Either way, paid subscribers get a front-row seat to the mess. You'll see every draft, every revision, every moment where we realise we got it wrong and have to start over.
No promises of getting rich. No pretence of having all the answers. These are just real attempts at understanding how this complex system actually works.
Think of it as peer review, but before the peers get their hands on it.
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