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What We Are Reading (Patreon)

Published:
2019-12-09 20:32:32
Imported:
2026-06
Tags:

Content

Grace Blakely makes an important case for how to talk about funding our socialist vision. A jump into an interesting, and controversial, political movement Eurocommunism. Vijay Prashad breaks down the fight over lithium in Bolivia. And Rick Roderick delivers a phenomenal lesson on Sartre. 

-David Griscom

What We Are Reading:

But how is Labour going to pay for that?, Grace Blakely, 2019  

What is Eurocommunism? - Manuel Azcárate & Altiero Spinelli, 1978  

After Evo, The Lithium Question Looms Large In Bolivia, Vijay Prashad, 2019 

What We Are Watching: 

Rick Roderick On Sartre, 1993  


Comments

evan knod

All of the Rick Roderick!

Bijou Smith

The Grace Blakely article is fascinating. All her arguments, except one, essentially are correct. She (bizarrely) is still using a neoclassical paradigm which assumes government is like a household and must therefore either borrow or tax before it can spend. The opposite is the case. Before anyone can have any money to be borrowed or taxed the government must FIRST issue money, in other words, spend. Once the resurgent Left realise this (an essentially MMT lens) then not only will we be free from the need of money from the rich, we will also be free to tax them knowing it will not hurt the economy in the slightest. Corbyn and McDonnell need to realize their spending proposals are not constrained by tax, they are constrained only by the real material and human resources available in the UK (plus whatever they can import, minus what they export). Blakely's argument for taxing the rich should be clearly, "not because we need their money, but simply because they are too wealthy and that subverts democracy." There is no other justification needed for wealth tax. Tax on wealth is not anti-inflation, because the savings of the rich are not money that is being spent, and excessive spending is what risks demand-pull inflation (which in any case, is not a bad type of inflation like a supply-shock type).