In June, Real Progressives hosted a webinar with Carlos García Hernández on his book, Fiat Socialism: Achieving the Goals of Socialism Through Modern Monetary Theory. After hearing his Macro N Cheese interview last year, we wanted to open the door for our volunteers to ask questions and engage with Carlos on this topic. He is an important voice applying the insights of MMT to socialist theory.

In talking about his book, Carlos laid out the goals of fiat socialism:

• Full employment
• Full and prudent use of material resources
• The guarantee of the five essentials to every citizen: food, housing, clothing, health services, and education
• Social security at all major exposed points in the social structure (eg, old age, sickness, accident, temporary unemployment, and childbearing)
• Labor standards, to be assured by labor unions

This episode includes his presentation followed by Q&A with the event’s attendees.

Carlos García Hernández is the founder and director of Lola Books, a publishing house that has introduced MMT to Spanish and German readers. He is the author of Fiat Socialism: Achieving the Goals of Socialism through Modern Monetary Theory.

@Carlos_G_H_ on Twitter

According to Mischa Geracoulis, of Project Censored, media is a public good and journalism is a public service.

It only follows that censorship is a violation of human rights.

Project Censored defines censorship more broadly than a government’s control over the media. It is the suppression of information, whether purposefully or not, by any method – (including) bias, omission, underreporting, or even self-censorship by the reporter or publisher.

Steve and Mischa discuss the urgency of getting the public to understand the genocide in Gaza, and crucial for Americans to see their government’s role in it.

They look at the challenges faced by independent press, as well as special problems of news deserts. They also talk about the need for media literacy while much of the public relies on social media, where algorithms play a suppressive role.

Mischa Geracoulis is a media literacy expert, writer, and educator, serving as Project Censored’s curriculum development coordinator. Mischa is on the editorial boards of the Censored Press and the Markaz Review.

@MGeracoulis, @ProjectCensored on Twitter

Steve’s guest this week is Dirk Ehnts, a lecturer and author

who specializes in modern monetary theory (MMT). They discuss Dirk's new book,

"A Simple Guide to the Monetary System," which aims to simplify the

often complex concepts of MMT.

They discuss the significance of the Copernican turn to MMT,

which refers to the shift in perspective that occurred during the COVID-19

pandemic. Dirk explains that the massive increase in government spending and

the lack of inflationary effects challenged conventional economic theories that

had previously dismissed MMT.

Dirk explains the theory behind inflation targeting and how

it has failed to deliver on its promises of price stability and full

employment. He also highlights the role of trade policy and income inequality

in shaping economic outcomes, pointing out that these factors are often

overlooked in favor of focusing solely on interest rates and inflation.

The conversation shifts to the rise of the BRICS

countries (Brazil, Russia, India, China, and South Africa) and the geopolitical

battles that have influenced international trade. They discuss the idea of

losing faith in the US dollar as the primary world reserve currency and the

potential impact on global trade.

Dirk emphasizes that the public needs to understand how

money and resources interact in order to find solutions to problems like

climate change. He believes that as more people become aware of MMT and its

potential policies, there will be a demand for change.

Dirk Ehnts is a German heterodox economist.

He is one of the leading proponents of Modern Monetary Theory in Europe. Ehnts

is a member of the standing field committee History of Economic Thought of the

German economists association. Every summer since 2016 Ehnts has held a course

on MMT at the Summer School of Maastricht University. In February 2019, he

organized the 1st European MMT Conference. He is also a lecturer at the MMT

summer school at the University of Poznan in Poland.