8 Comments

@18:30 A bit unfair of Asad to claim MMT does not study the history. Has he even read Randall Wray and Michael Hudson? "Modern Money" is dated back 6000 years. So I really do not know what Dr Zaman is on about here.

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@29:40 "...therefore that theory prevailed..." I think Asad misspoke. He did not give an antecedent before the "therefore". The reason the wrong theory (financial liquidity cause) prevailed was not because it was a causal or good parsimony theory, it was a "favours the rich" theory, THAT is why it prevailed.

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C'mon Jeff. You were not giving enough push-back. The "go back to nature and be self-sufficient" solution is a non-solution, it strongly favours the rich just as much as fossil fuel basis. The only way forward to avoid catastrophe is massive cooperation, not retreat to isolated libertarian communes. The Amish are selfish. A poor worker in the global south cannot afford to live, nor survive living like, Amish.

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