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Value and circulation. MMT is not completely wrong, it's just incomplete. And it's weird to see incomplete alternative economic theories pop up again and again who's main selling point is avoiding the term Marxism. Keynesianism is another example. And there was this weird phase in US anarchism, where a whole lot of anarcho-capitalists finally started becoming anti-capitalist (which is good of course) and they wrote a whole book about it like they just personally came up with the idea capitalism is bad for the first time ever. And it's weird every time because, like, Marx is right over there, way, way in the back of the economics departments library. Ready to be read whenever you decide to become a serious scientist.
Even David Harvey started out like this. He just started calling himself a Marxist after people had repeatedly pointed out to him that he had become one. And his response was something like like:"Oh, I guess I am a Marxist then. I didn't set out to become one, I was just looking for theory that makes sense for a change."
Of course, most economists would do everything to avoid being called a Marxist in order to keep their funding. And that's where things like MMT come in.
Can you give more details on these people and this book? I always found ancaps very ideologically incoherent, wondering how they got around to reinventing Marxism using their own theory
This was some years ago. I tried, but couldn't find it again. Crimethinc is a bit like this though. They were never anarcho-capitalist, but they changed from vaguely apolitical lifestyle individualism in the 90s to actual anti-capitalism around the time they wrote this book called "Work" in 2012.
Gotcha, seems like a similar trajectory to many comrades who were more liberal - when they figure out the end result of "free" market competition it's almost a straight line towards Marx