Strategy • 06.02.2023
On July 5, 2015, at the height of the eurozone debt crisis, the Greek demos voted by a wide margin to turn down the bailout offered to them by their Troika of creditors – the International Monetary Fund, the European Central Bank, and the European Commission. At the time, the Greek Finance Minister was Yanis Varoufakis, who had the opportunity to confront the Troika, and to put an end to the endless cycles of rising Greek debt.
Money • 31.01.2023
Marxian political economists often criticise Modern Monetary Theory (MMT) for its lack of class analysis. While these critiques are right to point out that MMT has often been presented as the saviour of capitalism and growth, its insights are also of use to those who wish to see an end to capitalism and growth. While many proponents of MMT are not interested in a world beyond capitalism, the theory itself could offer useful tools in this struggle. Indeed, at its heart, MMT formulates the coherent monetary analysis needed by anyone who believes in using State power as a means of dismantling capitalism.