Uploaded January 2026 | Updated September 2026, 3 hours ago
Dr. Anthony Anastasi joins Steve Grumbine on Macro N Cheese to explore the frequent misunderstanding and dismissal of MMT by many Marxists, who often view it as a capitalist apology or as lacking a theory of value. Anastasi breaks down the three major Marxist critiques of MMT (state control of money's value, absence of a value theory, and serving as a capitalist backstop) and argues they stem from a dogmatic adherence to Marx's 19th-century context and a conservative view of public finance.
The conversation positions MMT not as an ideology, but as an accurate description of the monetary "plumbing" in a fiat system—a tool that can serve any political project, including socialism. Key points include the Job Guarantee as a superior non-reformist reform over Universal Basic Income (UBI), the role of state spending in mobilizing real resources, and the need for a class-conscious application of MMT to build working-class power. The dialogue concludes with observations on China’s economic debates and a call for Marxists to embrace MMT’s insights to better fight for a post-capitalist future.
Weaponize Knowledge with Modern Monetary Theory (MMT)
Chapters
Introduction & Guest Background (0:00)
Anthony's Paper on Marxism and MMT (3:00)
Motivation for Writing the Paper (5:12)
Marxist Critiques of MMT (9:00)
MMT's Theory of Value (11:02)
Taxes and Government Spending (15:59)
What is MMT? Overview (18:23)
Government as Price Setter (21:30)
Political Power and Class Analysis (29:25)
Publicly Funded Elections (30:57)
Rosa Luxemburg and Non-Reformist Reforms (34:12)
The Job Guarantee Explained (36:08)
Job Guarantee vs Universal Basic Income (42:39)
Inflation and Pricing Power (47:43)
MMT in China (51:12)
Closing Thoughts (55:00)
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#mmt
Weaponize Knowledge with Modern Monetary Theory (MMT)
Please help our Real Progressives efforts in spreading and become a monthly donor!
At PayPal
paypal.me/RealProgressives/25
At Patreon
patreon.com/realprogressives
Write for Real Progressives
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Visit our website:
realprogressives.org
Listen to our podcast:
realprogressives.org/macro-n-cheese-podcast
We believe all materials used in this video fall under Fair Use as defined in Section 107 of the Copyright Act of 1976.
Dr. Anthony Anastasi joins Steve Grumbine on Macro N Cheese to explore the frequent misunderstanding and dismissal of MMT by many Marxists, who often view it as a capitalist apology or as lacking a theory of value. Anastasi breaks down the three major Marxist critiques of MMT (state control of money's value, absence of a value theory, and serving as a capitalist backstop) and argues they stem from a dogmatic adherence to Marx's 19th-century context and a conservative view of public finance.
The conversation positions MMT not as an ideology, but as an accurate description of the monetary "plumbing" in a fiat system—a tool that can serve any political project, including socialism. Key points include the Job Guarantee as a superior non-reformist reform over Universal Basic Income (UBI), the role of state spending in mobilizing real resources, and the need for a class-conscious application of MMT to build working-class power. The dialogue concludes with observations on China’s economic debates and a call for Marxists to embrace MMT’s insights to better fight for a post-capitalist future.
Weaponize Knowledge with Modern Monetary Theory (MMT)
Chapters
Introduction & Guest Background (0:00)
Anthony's Paper on Marxism and MMT (3:00)
Motivation for Writing the Paper (5:12)
Marxist Critiques of MMT (9:00)
MMT's Theory of Value (11:02)
Taxes and Government Spending (15:59)
What is MMT? Overview (18:23)
Government as Price Setter (21:30)
Political Power and Class Analysis (29:25)
Publicly Funded Elections (30:57)
Rosa Luxemburg and Non-Reformist Reforms (34:12)
The Job Guarantee Explained (36:08)
Job Guarantee vs Universal Basic Income (42:39)
Inflation and Pricing Power (47:43)
MMT in China (51:12)
Closing Thoughts (55:00)
Please help our Real Progressives efforts in spreading and become a monthly donor!
At PayPal
paypal.me/RealProgressives/25
At Patreon
patreon.com/realprogressives
Donorbox
donorbox.org/each-one-teach-one-3
Write for Real Progressives
realprogressives.org/submit-an-article
Visit our website:
realprogressives.org
Listen to our podcast:
realprogressives.org/macro-n-cheese-podcast
Subscribe to our Substack:
realprogressives.substack.com
We believe all materials used in this video fall under Fair Use as defined in Section 107 of the Copyright Act of 1976.
#mmt
Weaponize Knowledge with Modern Monetary Theory (MMT)
Please help our Real Progressives efforts in spreading and become a monthly donor!
At PayPal
paypal.me/RealProgressives/25
At Patreon
patreon.com/realprogressives
Write for Real Progressives
realprogressives.org/submit-an-article
Visit our website:
realprogressives.org
Listen to our podcast:
realprogressives.org/macro-n-cheese-podcast
We believe all materials used in this video fall under Fair Use as defined in Section 107 of the Copyright Act of 1976.
