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In this latests Three Articles we discuss power, money and the power of money - in a post-Covid world.

 
Readings:
Modern Monetary Theory (MMT) has been hailed by some and scorned by others as offering a new framework to understand the financial system. But what is specifically 'modern' about MMT, and how does it differ from rival accounts of the financial economy? We talk to Bill Mitchell, one of the leading proponents of MMT, who gives us an introductory rundown, plus tells us why the Japanese economy is unfairly maligned and explains what the future has in store for MMT as its inexorably advances against orthodox rivals.  
 
-> Our earlier episode with Doug Henwood, a critic of MMT, can be found here: Episode 68 
-> The episode with Bill Mitchell's co-author, Thomas Fazi, is here: Episode 38
 
Readings:

On the 30 years since 1989.

For our 100th episode, we invited our favourite guests to reflect on the question: “What one event, personal or political, most captures for you the past thirty years, since 1989?” 

Are we still living in the death throes of the 20th century, or is something new emerging?

Guests:

  • (00:07:42) - Maren Thom
  • (00:14:14) - David Broder
  • (00:21:33) - Ashley Frawley
  • (00:26:11) - Catherine Liu
  • (00:33:05) - Angela Nagle
  • (00:40:49) - Benjamin Fogel
  • (00:46:25) - Alex Gourevitch 
  • (00:51:31) - BungaCast hosts
  • (00:59:22) - David Adler
  • (01:04:05) - Amber A’Lee Frost
  • (01:08:48) - James Heartfield
  • (01:16:17) - Anton Jaeger
  • (01:23:24) - Leigh Phillips
  • (01:30:25) - Lee Jones
  • (01:36:03) - Karl Sharro

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On Modern Monetary Theory. Doug Henwood joins us to discuss whether MMT offers a fiscal alternative for Left governments. What is monetary sovereignty and do all states have it? What are MMT's prospects for states as different as the USA, Nigeria or Brazil? Is it a suspect economic remedy, too much of a quick fix? Are MMT proponents guilty of avoiding political confrontation? 

Readings

Modern Monetary Theory Isn’t Helping, Doug Henwood, Jacobin

MMT Is Already Helping, Pavlina R. Tcherneva, Jacobin

Modern Money Theory 101: A Reply to Critics (pdf), Éric Tymoigne and L. Randall Wray 

Modern Money Theory (MMT) vs. Structural Keynesianism, Thomas Palley

What Is Modern Monetary Theory and Why Is It So Important to the Green New Deal?, Jacob Weindling, Paste Magazine

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On 'Corbynomics'. We talk to James Meadway, former advisor to the UK's Shadow Chancellor, about what a Corbyn government could and should do. What is the scope for manoeuver of a Left Government in 2019? What does a British 'Green New Deal' look like? And we talk Brexit, because of course.

 

#BungaLive is this Thursday (21 March) in London - reserve your ticket now: bungacast.eventbrite.com

On democratic planning. Leigh Phillips and Michal Rozworski propose we look at Walmart and other giant corporations as sites of planning, not of markets -- and that this fact proves planning works. Rather than rely on markets and market actors to manage production and distribution, we should it ourselves. Do advances in computing mean that the old problems of planning have been overcome? Does planning lead to authoritarianism -- or does authoritarianism lead to bad planning? Can we overcome the age of Capitalist Übermenschen?

Readings:

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Bunga theme music: Jonny Mundey

Bunga design: ramune.io

On the cult of the entrepreneur. Alex Gourevitch talks to us about the "special kinds of assholes we get in our economy" and the dangers of the heroic capitalist icon. How does the earlier ideal of meritocracy differ from entrepreneurship as an ethos? Does celebrating the special creative genius of the disruptor actually mean glorifying tyranny? 

Plus: the right to strike, domination in the workplace, and campy Trump.

Readings:

 

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Bunga theme music: Jonny Mundey

Bunga design: ramune.io

In which we ask why the urban question become so pointed today - in the Global North as well as in the South? We look at contestation in urban politics - in São Paulo, Johannesburg, London, New York, and beyond. What are the social movement struggles around housing, rent, transport, and the right to the city? What are the limits to housing & transport politics -- are they just consumer movements at the end of the day?

Guests:

  • David Adler talks to us about rent in London and beyond.
  • Ben Bradlow joins us to debate the big one: can municipal politics be sexy? And can city politics become national politics?

We conclude by returning to a recurring theme: is the Global North actually becoming more like the Global South? 

 

Readings:

Ben Bradlow, Let Them Occupy: https://africasacountry.com/2018/02/let-them-occupy-housing-struggles-in-brazil-and-south-africa 

David Adler, Generation Rent: https://jacobinmag.com/2016/04/big-short-housing-loans-renters-affordability 

 

Review of Justin McGuirk's 'Radical Cities' https://www.theguardian.com/books/2014/jul/11/radical-cities-latin-america-architecture-justin-mcguirk-review

Interview with Raquel Rolnik https://www.versobooks.com/blogs/2792-the-complete-subjugation-of-urban-policy-an-interview-with-raquel-rolnik

Steve Graham on vertical cities https://www.versobooks.com/blogs/2995-elite-takeovers-of-the-vertical-city 

 

Cover image: 📷Claudio Edinger 

 

In which we discuss why the Left should not to be scared of sovereignty: Brexit, Italexit, and Modern Monetary Theory

Bonus! In which Leigh stays with us to discuss innovation, automation, UBI... & why the wages are too damn low.

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