Macro N Cheese

**You’re invited to join us Tuesday evening for Macro ‘n Chill, an online gathering where we can listen to and talk about this episode. Tuesday July 15, 8pm ET/5 pm PT    Click here to register [https://us06web.zoom.us/meeting/register/DXwNF8RqQFuPUFAe0-2TGQ] This week we're releasing an interview Steve did as a guest of Jim Byrne, host of MMT101 podcast.   Steve and Jim have much in common, so it’s interesting to hear how their approaches differ. In part, this is related to the conditions of their nationalities. Jim, in Scotland, isn’t faced with the myth of political democracy. They have a devolved government, under the thumb of Westminster, with no control over the economic levers. The demands are straightforward: more money... and independence.   Jim says he prefers to see MMT “purely as a technical – almost a technical description – with a bit of theory thrown in there, because of course T stands for theory.”   Steve describes his 15-year journey with MMT. Originally, he focused on the “wonky stuff,” the mechanics of the monetary system.  He came to understand that people aren’t interested until they can see how it relates to their own lives. Today he maintains that MMT should be connected to real-world issues such as class struggle, poverty, student debt, and geopolitical conflicts like the horrific situation in Gaza.   The episode is a great conversation between two MMT activists. Despite their differences, they find they have much in common.  Jim Byrne is currently developing an MMT foundation course [https://www.udemy.com/course/mmt101-modern-monetary-theory/?couponCode=MMT101COURSECOURSE] aimed at beginners and intermediate learners, as well as people who already know about economics but are curious about Modern Monetary Theory.  Follow his work and the MMT101 podcast at mmt101.substack.com [https://mmt101.substack.com/]  @MMT101DotORG

**Tuesday evenings, we host an online listening party, Macro ‘n Chill, to discuss the current episode. It’s a great way to get to know other members of the community and talk about the ideas expressed in the podcast. Join us this Tuesday, July 8th, at 8 pm ET/5 pm PT Click HERE to register [https://us06web.zoom.us/meeting/register/8A1fXwBrTY-Q5GvgT2d6uQ]  Scott Ferguson and Ben Wilson of the Money on the Left collective discuss their ‘Blue Bonds’ proposal with Steve. They explain how states can issue bonds to mitigate the federal austerity measures being enacted under the Trump administration. The conversation explores how this approach could democratize fiscal policy at the sub-federal level and empower local governments. Their proposal frames state-issued bonds as a democratic tool to counteract federal inefficiencies, foster local investment and engage communities in financial decision-making. They also address the ideological and practical barriers concerning the public's grasp of economic sovereignty, stressing the importance of understanding endogenous money creation and challenging the collective fear of public debt.   Benjamin C. Wilson is an Associate Professor of Economics at the State University of New York at Cortland and a research scholar at the Global Institute for Sustainable Prosperity.  Scott Ferguson is an Associate Professor of Film & Media Studies in the Department of Humanities & Cultural Studies at the University of South Florida and a research scholar at the Global Institute for Sustainable Prosperity. He is co-host of Money on the Left podcast featured by Monthly Review.

Part of our mission is to introduce MMTers to socialism and socialists to MMT. We’ve had a few metaphorical doors slammed in our faces along the way. Former friends from the MMT community now delight in slinging accusations worthy of a HUAC hearing, while some socialists suspect modern monetary theory is just a sideshow of bourgeois economics. So, we didn’t know what to expect when we reached out to Justin and Jeremy, co-hosts of a podcast we’ve long admired. Compared to the vicious rejection we sometimes encounter, their good faith skepticism felt like a warm embrace. They invited Steve and Virginia to come onto Proles Pod and make a case for the radicalizing potential of MMT.   The conversation goes into the role of the state in currency issuance, the coercive nature of taxation, and how MMT can critique and unveil the inherent power dynamics within capitalism. Austerity, that devastating weapon of class warfare, is not a glitch; it’s a feature.   Virginia asks that listeners stop using the expression taxpayer money. “Even if you’re not ready to wrap your mind around MMT, just start calling it public money. You might not believe where it comes from but just stop. It's public money.” Given the classist, racist implications of relying on taxpayers to fund the government, a change in language is a good first step. Steve adds: “Whatever you tax, you immortalize. Whatever you tax, if you believe it's funding, you need forever.” The state is the source of currency; let’s stop elevating billionaires.   They look at the relationship between currency manipulation, inflation, and global economic dominance. They also touch on Gramsci and the impact of cultural hegemony. Ultimately, they agree on the necessity of a class-based analysis as a prerequisite for revolutionary change.  Proles Pod is a podcast about history, politics, and culture... without the liberalism   Find their work at prolespod.libsyn.com/ [https://prolespod.libsyn.com/]  Support them at patreon.com/prolespod [https://www.patreon.com/c/ProlesPod/posts]  Follow them @ProlesPod [https://x.com/ProlesPod] on X

If civilizations are judged by how they care for their elderly, our report card is already written. Should there be anyone left to judge us – should humanity exist long enough to judge us – we’ve flunked. Steve’s guest is Judy Karofsky, author of 'DisElderly Conduct: The Flawed Business of Assisted Living and Hospice,' who provides a critical examination of the elder care industry. Judy discusses her own struggles with assisted living facilities and hospice care, highlighting the systemic issues driven by the profit motive and lack of federal oversight.  Assisted living is meant to be for seniors who don’t yet need a nursing home. The facilities are supposed to provide the dignity of independence with up to three hours of care per week. Unfortunately, that means from zero to three. Often, it’s zero – with no nurse on staff. In many cases the move from independent living isn’t a health decision. It’s business. The assisted living business is about real estate investment, not the needs of our nation’s seniors.  > "Big investors, big REITs, Real Estate Investment Trusts, and yes, private equity have seen the potential and they're investing and the decision-making moves farther and farther away from the individual facility and farther and farther away from the resident.” Steve makes a case that will be familiar to our followers: that healthcare – and its federal oversight – are policy decisions, connected to ideology. It’s the belief that there is no public money.  > ”There is only private property and there's only private equity and there's only private capital. And that when you impose regulations, you're imposing undue constraints on capital to do what capital would like to do. We have to start thinking about the world differently.” The episode illustrates the urgent need for reform in elder care. These challenges will one day touch everyone’s lives or those of their loved ones. Judy Karofsky was a city council member and one of Wisconsin’s first women mayors (Middleton). During her term of office, she established a now-thriving senior center and emergency medical services. She served on the executive staff of a governor and held multiple roles in housing and economic development for a state agency, a nonprofit housing development organization, and her own research firm. Before organizing and providing care for her mother, Judy filled interim positions for a statewide women's network – focusing on elder economic security – and for a coalition of state aging groups. Serving on nonprofit and municipal boards, she participates in policy discussions and comments publicly on demographic trends and urban growth.

**On Tuesday evening, C. Derick Varn will join us AGAIN for Macro ‘n Chill, our weekly community gathering. While listening to this episode, we will have the opportunity to ask questions and engage in discussion about Part Two. June 17th, 8 pm ET/5 pm PT Click HERE to register [https://us06web.zoom.us/meeting/register/_wd51iqMTbKdDhsGjkT2hQ]  The second half of Steve’s conversation with Derick Varn goes into the history of the socialist movement from the 1960s to the present.   Derick traces some of the current factionalism back to the ideological battles between Trotsky and Stalin covered in Part One of this series. This includes the debates on ‘socialism in one country’ versus international socialism. He covers further divisions within Trotskyism, the Red Scare’s successful suppression of the CPUSA, and the formation of the Black Panthers. He describes the rise of Maoism, its influence on student movements in the West, and further ideological splits.  Steve and Derick emphasize that historical developments are always connected to the material conditions of their time. Even the Bernie Sanders movement. They talk of the struggles intrinsic to past and present socialist organizations and reflect on the modern implications of these ideologies and the challenges of organizing under current capitalist conditions.  > “In the ‘Eighteenth Brumaire,’ Marx talks about how all great revolutions play-act a revolutionary moment of the past. So, for him... he talked about the English Civil War and the Bible, and the French Revolution, and the Roman Empire.   > “We are stuck LARPing the past because we don't know what the future is.”  C. Derick Varn is a poet, teacher, and political theorist. He is the host of Varn Vlog. He was a reader at Zer0 books from 2015 to 2021. He spent most of the 2010s outside the U.S. in the Republic of Korea, Mexico, and Egypt. He is the author of the poetry collections, Apocalyptics and Liberation and All the Bright Etcetera.   https://varnblog.substack.com [https://varnblog.substack.com/]  Find all his links at https://allmylinks.com/dionysuseatsyou [https://allmylinks.com/dionysuseatsyou]