Marxism and MMT

Abstract

As of now, there has been a relatively insufficient amount of scholarship tying Marxist theory to Modern Monetary Theory (MMT). This article argues that Marxists should take a closer look at the economic theory. MMT is a normative theory and could be used to promote any worldview or theory. Marxists should use it to argue for and, if implemented, manage non-reformist reforms such as a Job Guarantee and publicly funded elections. These reforms could raise the material and working conditions of the working class, strengthen class consciousness, and condition society for a post-capitalist economic system.