Economist Fadhel Kaboub explains why the Global South cannot thrive without first achieving structural economic decolonization – and why MMT is essential, but not sufficient, for the task.
This is one of the best episodes we have recorded. It both destroys that myth that MMT is irrelevant and also destroys the myth that we can vote away the things oligarchy is doing. Very very important episode. Please ensure you all share this widely
Fadhel hits it out of the park as usual. When are more in the MMT community (both academia and activists alike) going to realize that we aren't voting our way out of these endless wars and plundering of the Global South of its natural resources which in turn drives the global migration crisis all in the name of further enriching private capital?
@FadhelKaboub teaches, we can't vote away colonialism.
Elections won't dismantle economic structures designed for extraction. Stop demanding better management of the colonial system. Start demanding its complete demolition. Real democracy requires structural #decolonization first. #revolution #learnMMT #eachoneteachone
I know what you said...I just replied with my words...our Founders made a nation based on government required to listen to the people, not the other way around. We don't need another war to make what we want, we just need to do what we can, which is to make sure we put people in Congress, the White House, and state and local positions that we know will do what we need and want, and then make sure they know what we need and want, and that we will replace them if they don't do it.
You fundamentally misunderstand the power dynamics inherent both to bourgeois democracy and imperialism. I suggest you actually listen to the episode (and TBH a lot more of our work and others similarly aligned) before commenting any further.
Why is that so difficult? I did it during my time in the Army, for example...I was one of the top three, worldwide, as a tech expert in the old Hawk air defense missile system back n the 1970's-'80's, and I made us able to accomplish our mission in Germany and in the Korea forward area because I spoke truth to power when we had problems getting what we needed to keep that collection of Raytheon junk operational, and I overcame the problems. I made it happen because I did it...
🙄 Your ‘lil anecdote of overcoming logistical barriers in carrying out “your mission” as a piece of shit tool FOR imperialism has absolutely fuck all do with the inability to vote colonialist structures away. Holy fuck my god
Well, I guess when you refuse to see the value of standing up strongly in numbers to undo imperialism, and you refuse to realize how my example of action makes things happen, that's why it doesn't happen.
How is “accomplishing your mission in Germany and in the Korea forward area” and “getting what you needed to keep that collection of Raytheon junk OPERATIONAL” “speaking truth to power” or opposing imperialism in any way??? I’m not sure you realize how ridiculous you are sounding right now.
Because in order to keep the radars, IFF, data processing, and command and control electronics operational and receive the engineering support and working repair parts we needed, I spoke up to higher authority so they would make it happen, which they then did, for which I was recognized by colonels and generals as the one to listen to, which then made other authority around me look bad, but I didn’t give in to the bullies and continued my work even though I was held back from promotion for a time and was literally the Army’s ranking E-5 for about 1 ½ years before a colonel and a captain finally pushed my promotion to E-6 forward. I made things happen while not just giving in to get along and being intimidated by the local athortarin bullies...
Well, I believe that if you decode my farts they'll reveal the winning lottery number. But that doesn't mean my belief isn't silly and childish and unworthy of serious consideration.
“Why do we today live in a world where these economic functions and these colonial structures persist, but somehow we expect democracy to thrive in the Global South? Somehow we expect human rights to be protected. Somehow we expect development and industrialization to take place. They cannot, by design.”
I love Fadhel Kaboub, and it’s not just cuz he explains MMT in a way pretty much everyone can understand, or because his post-electoralist politics are fantastic…
It’s that, for all my socialist and communist comrades who say MMT is only useful for the imperial core nations “tO uSe”, Fadhel is the strongest and most consistent advocate I’ve ever heard for why MMT is critically important for the Global South (its people, its leaders, and its supporters) to understand. It’s an economic framework that can explain (and can provide guidance in) any epoch/system, not some policy tool to be hoarded by Western elites.
What makes Professor Kaboub’s analysis so effective is how he links the history of colonial extraction to modern MMT. He speaks plainly about how a currency-issuing elective can fund its own development, providing a clear vocabulary for us to discuss economic justice in our daily lives.
This is one of the best episodes we have recorded. It both destroys that myth that MMT is irrelevant and also destroys the myth that we can vote away the things oligarchy is doing. Very very important episode. Please ensure you all share this widely
True and ominous at the same time , Steve.
Fadhel hits it out of the park as usual. When are more in the MMT community (both academia and activists alike) going to realize that we aren't voting our way out of these endless wars and plundering of the Global South of its natural resources which in turn drives the global migration crisis all in the name of further enriching private capital?
Fadhel's back! Best economist and explainer in MNC history!
https://youtu.be/quyB8PMTD3o?si=bLxRMV0IHWKFJ_SU
@FadhelKaboub teaches, we can't vote away colonialism.
Elections won't dismantle economic structures designed for extraction. Stop demanding better management of the colonial system. Start demanding its complete demolition. Real democracy requires structural #decolonization first. #revolution #learnMMT #eachoneteachone
MMT isn't the theory of everything, but try paying for climate reparations without it.
The question was always "how do we pay for it?"
Now we have the answer. The Global North has the fiscal space to repair the damage at the source. No more excuses.
Well, I believe we can…we can make anything happen if we do it…
Clearly didn't listen
I know what you said...I just replied with my words...our Founders made a nation based on government required to listen to the people, not the other way around. We don't need another war to make what we want, we just need to do what we can, which is to make sure we put people in Congress, the White House, and state and local positions that we know will do what we need and want, and then make sure they know what we need and want, and that we will replace them if they don't do it.
You need mental help my friend.
Maybe you just need to think about the meaning behind what I said. It s about overcoming the stupidity and the bullies to do what is necessary.
History tells us otherwise, regardless of what we'd like to believe.
Just because too many people just give in to "get along" and avoid having to stand up to the bullies...
You fundamentally misunderstand the power dynamics inherent both to bourgeois democracy and imperialism. I suggest you actually listen to the episode (and TBH a lot more of our work and others similarly aligned) before commenting any further.
“We can make anything happen if we do it.” I’m sorry but the tautology of that statement is mindblowing… 🤯
Why is that so difficult? I did it during my time in the Army, for example...I was one of the top three, worldwide, as a tech expert in the old Hawk air defense missile system back n the 1970's-'80's, and I made us able to accomplish our mission in Germany and in the Korea forward area because I spoke truth to power when we had problems getting what we needed to keep that collection of Raytheon junk operational, and I overcame the problems. I made it happen because I did it...
🙄 Your ‘lil anecdote of overcoming logistical barriers in carrying out “your mission” as a piece of shit tool FOR imperialism has absolutely fuck all do with the inability to vote colonialist structures away. Holy fuck my god
Well, I guess when you refuse to see the value of standing up strongly in numbers to undo imperialism, and you refuse to realize how my example of action makes things happen, that's why it doesn't happen.
How is “accomplishing your mission in Germany and in the Korea forward area” and “getting what you needed to keep that collection of Raytheon junk OPERATIONAL” “speaking truth to power” or opposing imperialism in any way??? I’m not sure you realize how ridiculous you are sounding right now.
This cat has drank too much skim milk
Because in order to keep the radars, IFF, data processing, and command and control electronics operational and receive the engineering support and working repair parts we needed, I spoke up to higher authority so they would make it happen, which they then did, for which I was recognized by colonels and generals as the one to listen to, which then made other authority around me look bad, but I didn’t give in to the bullies and continued my work even though I was held back from promotion for a time and was literally the Army’s ranking E-5 for about 1 ½ years before a colonel and a captain finally pushed my promotion to E-6 forward. I made things happen while not just giving in to get along and being intimidated by the local athortarin bullies...
Well, I believe that if you decode my farts they'll reveal the winning lottery number. But that doesn't mean my belief isn't silly and childish and unworthy of serious consideration.
“Why do we today live in a world where these economic functions and these colonial structures persist, but somehow we expect democracy to thrive in the Global South? Somehow we expect human rights to be protected. Somehow we expect development and industrialization to take place. They cannot, by design.”
I love Fadhel Kaboub, and it’s not just cuz he explains MMT in a way pretty much everyone can understand, or because his post-electoralist politics are fantastic…
It’s that, for all my socialist and communist comrades who say MMT is only useful for the imperial core nations “tO uSe”, Fadhel is the strongest and most consistent advocate I’ve ever heard for why MMT is critically important for the Global South (its people, its leaders, and its supporters) to understand. It’s an economic framework that can explain (and can provide guidance in) any epoch/system, not some policy tool to be hoarded by Western elites.
What makes Professor Kaboub’s analysis so effective is how he links the history of colonial extraction to modern MMT. He speaks plainly about how a currency-issuing elective can fund its own development, providing a clear vocabulary for us to discuss economic justice in our daily lives.
Had a long weekend but it's great to hear Kaboub again, Steve always asks the questions that get him going.