Modern Monetary Theory a marksistowska krytyka ekonomii politycznej
Modern Monetary Theory and Marxist Critique of Political Economy

Summary/Abstract: This article is an attempt to discuss the issues represented by Modern Monetary Theory, one of the most popular post-Keynesian theories within the perspective of Marxist political economy. The subject of the analysis will be primarily MMT assumptions about the role of money in the modern world, in juxtaposition with contemporary research analyzing the Marxist theory of commodity money capital. The ideas of neo-chartalists on economic policy in capitalism and its influence on the dynamics of the whole system will also be commented on and evaluated. Another issue is the strictly political problems related to MMT, which will also be analyzed. Common points will be shown, combining some of the MMT concepts with Marxist concepts, while demonstrating the theoretical predominance of Marxist propositions. The author of this article is trying to prove that, while the realism of modern capitalism belongs to the descriptive part, some non-orthodox Marxist economists may accept that the normative part of this theory should be criticized because of its rather superficial repetition of some traditional Keynesian monetary and fiscal policy proposals.

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