Jamie Merchant introduces Modern Monetary Theory and the failure of capitalism

The Rational View podcast with Dr. Al Scott

In this episode I'm dipping my toes into a new topic a little bit outside my range, but we can still use the tools of science and evidence to assess. The economy and Modern Monetary Theory. It is a new idea that clashes with classical economics. It can be summarized as the idea that governments whose dollar is not linked to a gold standard don't need to worry about deficits. It encompasses the idea of guaranteed employment for all. The discussion will also explore the failure of the capitalism system. My guest is an expert on this topic. Let's get grounded in the facts.

Jamie Merchant is a writer living in Chicago who writes about political economy and radical political theory. His writing has appeared in many publications including The Baffler, The Brooklyn Rail, The Nation, and In These Times. His book, Endgame: Economic Nationalism and Global Decline, was published by Reaktion Books in 2024.

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