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Rohan Grey and Nathan Tankus join Money on the Left to discuss the flurry of debate about Modern Monetary Theory (MMT) arising out of the Coronavirus crisis. We focus, in particular, on the Modern Money Network\u2019s multi-pronged efforts to illuminate and remedy the resulting economic devastation. At the center of our conversation is Rohan\u2019s contribution to Rep. Rashida Tlaib\u2019s \u201cAutomatic BOOST Act.\u201d Known by the popular hashtag #MintTheCoin, Tlaib\u2019s proposal calls on the U.S. Treasury to mint two trillion dollar platinum coins in order to deliver direly-need cash assistance via preloaded public debit cards for all\u2014no exceptions. In response to dismissive critiques of the proposal as a gratuitous \u201cgimmick,\u201d we affirm #MintTheCoin\u2019s political significance as a gimmick\u2014whether as a critical parody of sound finance trickery or as a meaningful pedagogical ritual that makes public money creation visible. Along the way, we delve into Nathan\u2019s now widely-hailed Substack newsletter: \u201cNotes on the Crises: The Pandemic-Induced Depression from a Monetary Political Economy Perspective.\u201d We reflect upon the inadequacy of Congressional action, paradigm-smashing moves by the Federal Reserve, and MMT\u2019s strategic importance for the future of leftist struggle, both in the near- and long-term.

For more information about Rep. Rashida Tlaib\u2019s \u201cAutomatic BOOST Act\u201d and #MintTheCoin, see here, here, and here. Sign up for Nathan\u2019s Substack here.

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