I see #ModernMonetaryTheory#MMT snake oil is doing the rounds on social media—quite apt for April 1. In this series of blog posts, Marxist economist Michael Roberts points out MMT falls back on Keynesian ideas that “abysmally failed in the 1970s”, because “inflation and employment are not under the control of the state in a capitalist economy, but depend on the profitability of capital and the investment decisions of capitalists.”
There is no side-stepping the need for a revolutionary movement of workers to take over industry from the capitalists and run it for human need. We can't save capitalism from itself by being cleverer in how we run it.