Macro N Cheese

This week, Hamza Hamouchene returns to the podcast to talk about Towards Palestinian Liberation: Global Perspectives on Anti-Colonial Resistance and Solidarity, the new collection he co-edited with Abi Bae. Palestine, he argues, cannot be understood simply as a “conflict” or humanitarian crisis, but as a national liberation struggle against settler colonialism embedded in a larger system of Western imperialism and global capitalism.Hamza traces Israel’s role within the imperial order, the class interests of Arab ruling elites, and the political economy of occupation and dispossession. Drawing connections to Algeria, Vietnam, South Africa, and other anti-colonial struggles, he emphasizes the revolutionary potential of international solidarity and the necessity of connecting struggles against colonialism, capitalism, and imperialism.Steve brings MMT into the discussion, arguing that an analysis of real resources is incomplete without confronting the imperial power and violence through which those resources are

** Do you want to talk about this episode with us? Come to Macro ‘n Chill, our online gathering. Tuesday, August 4, 8pm ET/5pm PT. Register here: https://us06web.zoom.us/meeting/register/nLks4k8gQWKQzTAn0CEsoAAshwin Shantha joins Steve for a discussion challenging Western narratives on China – particularly the all-too-common opinions that dismiss its socialist character. This episode makes the case that China is a genuine socialist project where the state disciplines capital rather than being governed by it.Ashwin illustrates how China's green industrial revolution—driven by rapid progress in electric vehicles and renewable energy—marks a qualitative break from capitalist development paths. Unlike the Global North's extractive model, China's centrally planned approach prioritizes use-value objectives (clean air, energy self-reliance, and technological independence) over exchange-value maximization. The state constructs markets strategically, using mechanisms like the dual-credit policy to force both domestic

This week we’re releasing an episode from Scotland‘s Political Economy podcast. Host William Thomson invited Steve to join him to compare and reflect on their favorite interviews and the thinkers who most shaped their worldviews – from Clara Mattei and Fadhel Kaboub to Bill Mitchell, Jason Hickel, and Marxist-Leninist thinkers. They explore the limits of MMT without class analysis, the capture of academic and political institutions by oligarchic interests, and the importance of historical materialism, Gramsci, and Lenin in understanding how power truly operates.The episode looks at the evolution of the two independent podcasters, their intellectual awakenings, and their shared conviction that the fight is not for better policy within capitalism, but for a fundamental transformation of the system itself. And for listeners to Macro N Cheese, it provides insight into Steve’ seven-year journey, taking the podcast from a strict MMT focus to a broader political economic analysis rooted in class struggle, revolution

**Classic episode re-release! Originally published Sept, 21, 2019**Legal scholar Rohan Grey knows how to use analogies to give shape to an idea. He illustrates his points with references to popular films, folklore and lyrical poets. With experience in the realms of music, early childhood education, political economy, and jurisprudence, he brings Modern Monetary Theory to life in unexpected ways. Throughout this conversation with Steve, he connects economics and the law by illustrating subtle conceptual parallels.The episode begins where any discussion of macroeconomics should begin — talking about money. Instead of thinking of it as a “thing,” or a store of value, Rohan asks us to think of money as a series of relationships, structured by law. He calls it a web of invisible filaments. The MMT story starts with state-created money. While the original logic had to do with tax obligations, the desire for money takes on a life of its own. We don’t wake up thinking about wanting money to pay taxes. We want it for

**We’re listening to and discussing this episode on Tuesday, July 14 at 8pm ET/5pm PT, in our online gathering Macro ‘n Chill. We’ve invited Breht to join us, so bring your questions. Register here: https://us06web.zoom.us/meeting/register/PXkazv5WTWW7b7kMExA8uw"From each according to their ability, to each according to their need." Steve's guest, Breht O’Shea of Rev Left Radio and Red Menace podcast, believes that dedicating one's life to fighting for this vision, even without knowing the outcome, is more meaningful than pursuing capital's vision of wealth and status.Steve invited Breht to help tackle one of the most misunderstood and weaponized texts in Marxist theory: Vladimir Lenin's Left-Wing Communism: An Infantile Disorder, a book sometimes misused as a cudgel to pressure leftists into voting for the Democratic Party.To set the record straight, Breht places the 1920 pamphlet in its proper historical context. It was written after the successful Bolshevik Revolution to advise European socialist movements

**Tuesday evening, at 8 pm ET/5 pm PT, we’ll be listening to this episode and discussing it during our online gathering, Macro ‘n Chill. Bring your thoughts, your insights, your questions. July 7th at at 8 pm ET/5 pm PT. Use this link to register: https://us06web.zoom.us/meeting/register/ay2YXuCvRLOp1dV5yh8HKwWomen in politics, media, and public life are often placed at the center of the spectacle while being silenced on the issues that matter.Media scholar Allison Butler talks to Steve about her book, Judgment of Gender, exposing how patriarchal power and capitalist media institutions weaponize pop culture and construct narratives that fixate on appearance, personality, and scandal while obscuring questions of class and power. The conversation reveals a core dialectical contradiction: women are centered in media only to be silenced. Their personhood is reduced to superficial tropes.The critiques of political candidates Hillary Clinton, Kamala Harris, and even Nikki Haley, focus on pantsuits, headbands, voice

Modern Monetary Theory explains how sovereign currency systems work, but it doesn’t tell us who controls the state or whose interests state power serves. Economist Bill Mitchell suggests that a dialectical understanding of capitalism is essential for answering that question.He and Steve discuss MMT not as a policy prescription but as a lens to dissect the capitalist state, not a neutral arbiter but an instrument of class conflict. Bill traces the motion of capital from the post-WWII "Golden Age," which was a temporary compromise forced by a strong working class. He takes us through what he calls the neoliberal counter-revolution, epitomized by the Powell Memorandum, wherein capital consciously exercised control to reverse social gains and redistribute income upward.The government’s “fiscal crisis” is an ideological fiction (a fetish of money) that obscures the material reality: a currency-issuing government faces no inherent financial constraint, only real resource limits.From the erosion of labor power and t

** Don't forget about Tuesday’s Macro ‘n Chill, the online gathering where we listen to the podcast together and discuss the issues it covers. Bring your insights, questions, and good-faith disagreements. June 23, 8pm ET/5pm PT. Use this link to register https://us06web.zoom.us/meeting/register/yI-UE7W1TcGglJSZ2l-FfgAs much as we'd like to blame Donald Trump for the near-destruction of higher education, the rot set in long before he ever set foot in the White House. Political analyst and author Nolan Higdon is back to talk with Steve about his new book, MAGA Academy: How Corporatism Paved the Way for the Hostile Takeover of Higher Ed.Nolan makes the case that Trump's hostile takeover of the academy was only possible because fifty years of neoliberal corporatization had already reduced universities to profit-driven enterprises. (He also points out that this was spearheaded largely by so-called liberal Democrats.) From the weakening of faculty power and the crushing weight of student debt to the erosion of acad

** Come to Macro ‘n Chill, the online gathering where we listen to the podcast together and discuss what we learned and where we agree or disagree. Tuesday, June 16, 8pm ET/5pm PT. Use this link to register: https://us06web.zoom.us/meeting/register/Qm85bGIOSF2H_uNMwOmWtQEcosocialist author, Ian Angus, talks with Steve about his book Metabolic Rifts: Capitalism's Assault on the Earth System. They explore the deep, sometimes invisible ways that capitalism disrupts the planet’s fundamental life cycles –– from soil depletion and artificial fertilizers to the carbon cycle driving global warming.Ian traces the concept of “metabolic rift” from Marx and Engels through a long socialist lineage, making the case that ecological critique has always been central to the Marxist tradition. (Indeed, some Marxists might argue that “eco-” is an unnecessary qualifier; “socialism” is enough!)Steve brings up the MMT basics challenging the austerity narrative that blocks ecological reconstruction. He reminds us that the state, as

Join us Tuesday, June 9th, at Macro ‘n Chill, the online gathering where we’ll listen to and discuss this episode. 8pm ET/5pm PT. Register with this link: https://us06web.zoom.us/meeting/register/L40tjKhOSCGCJTR-R-QJvwThe title of Robin Andersen’s upcoming book (published next week) is The Complicit Lens: US Media Coverage of the Genocide in Gaza. You can see why Steve wanted to talk with her. Their conversation looks at how the corporate media helped manufacture consent for Israel’s war on Gaza by erasing historical context. It is tasked with enforcing cultural hegemony à la Gramsci, and defending the interests of the imperial core.Robin goes into examples of how the media has been used to erase Palestinian history and justify war crimes. Terms like "occupation," "apartheid," and "genocide" are scrubbed from discourse to maintain ideological control. It allows the ongoing dispossession and ethnic cleansing of Palestinians to go unchallenged.As MMTers we understand – and Steve emphasizes – how state resources

**Every Tuesday we hold an online gathering where we listen to and talk about the episode while building community. Share your insights and questions as we educate ourselves and each other. Macro ‘n Chill, June 2, 8pm ET/5pm PT. Register here: https://us06web.zoom.us/meeting/register/OEYtu7v-SciBITwiIWwdzwA frequent theme of our podcast revolves around the contradiction between formal political rights and the material realities of the working class. This week, our guest Ida Susser talks to Steve about the French Yellow Vest movement as a reaction to the contradictions of late-stage financial capitalism which has systematically gutted the welfare state, dismantled public services in the provinces, and further abandoned the universalist promises of the French Republic.Ida, an anthropologist, is author of the book The Yellow Vests and the Battle for Democracy: Taking to the Streets of Paris in the 21st Century.Moving beyond the liberal fetish of the ballot box, the conversation explores how the Gilets Jaunes, or

**Will we see you at Macro ‘n Chill on Tuesday? You’re invited to join our online gathering where we listen to the episode together and share our insights and questions. May 26 at 8pm ET/5pm PT. Use this link to register https://us06web.zoom.us/meeting/register/UHE6NoSDRbibqXYAeJJ8gQ Disinformation is neither an accident nor excess; it is the normal functioning of late capitalism’s media apparatus. Our friend Mickey Huff, executive director of Project Censored, talks with Steve about the machinery of modern propaganda, algorithmic control, and billionaire-owned media ecosystems. Their conversation highlights key tensions of a base and superstructure in decay. Mickey lays out the historical continuity of media manipulation, and they bring up surveillance as a class weapon and electoral distraction as a dead end. (Mickey may be the first guest to mention Gilens and Page before Steve does.)From Silicon Valley oligarchs and tech monopolies to the collapse of local journalism and the rise of curated realities, Ste

** This Tuesday, come to Macro ‘n Chill, our online gathering. Bring your insights and questions about this episode. May 19 at 8pm ET/5pm PT Use this link to register: https://us06web.zoom.us/meeting/register/AIz56SKPT6Gfh0pXhs3PTwYou may know Luna Nguyen as Luna Oi, the YouTuber and member of the Non-Compete content collective who creates videos about culture, history, and politics in Vietnam, as well as panels and interviews with indigenous activists and comrades in the Global South.Steve asked her to come onto the podcast because, as a Vietnamese Marxist-Leninist, she can take us beyond US propaganda and into the lived history of Vietnamese resistance. The conversation goes into Ho Chi Minh's revolutionary development, the application of Marxism-Leninism to Vietnam's reality, French colonialism and Japanese fascism, the 1945 famine and August Revolution, US betrayal after WWII, the fabricated Gulf of Tonkin incident, the nature of the "Resistance War Against Imperialist USA," and the post-war embargo and d

** This Tuesday, May 12, come to Macro ‘n Chill, our online gathering where we listen to and discuss this episode. Bring your questions and insights. 8pm ET/5pm PT. Use this link to register: https://us06web.zoom.us/meeting/register/rn_HAqgaSRGdj8W2UX9aKw Did you think we had abandoned MMT? Well, after a few weeks of tackling some rather prickly topics, we’re back to strictly non-controversial macroeconomics. Heh heh. Just kidding. Don’t get too comfortable.Our old friend Randy Wray is back, bringing his somewhat optimistic belief that a sound reality-based agenda might possibly succeed in the upcoming Congressional elections. But more on that later. First, he and Steve need to dissect Trump’s latest imperialist venture against Iran and expose the bipartisan lie that there are just enough of your tax dollars to pay for war; when it comes to affording social programs, the cupboard is bare.Claims of scarcity are pure ideology. MMT has taught us that the federal government faces no dollar constraints. The real c

** Macro ‘n Chill is our weekly online gathering where we listen to the podcast episode and talk about it among friends. This Tuesday, Jeremy of Proles Pod will be with us to answer questions. May 5 at 8pm ET/5pm PT Use this link to register: https://us06web.zoom.us/meeting/register/gCOXxGttQryRnQNq-A3NbAThis is Part 2 of Steve’s interview with Jeremy, co-host of Proles Pod, talking about their exhaustive series on the Stalin Eras. It's a nuanced, de-stigmatized discussion about Joseph Stalin and the political reality of the Soviet Union. They begin by dismantling Western misconceptions of dictatorship to explain the actual Leninist methodology of democratic centralism, contrasting it with Western parliamentary systems.Rather than asking whether Joseph Stalin was good or evil, the conversation reframes the question entirely. It situates the Soviet project within the pressures of counter-revolution, imperial encirclement, and internal struggle, while investigating how decisions were actually made inside a soci

** Come to Macro ‘n Chill, our online community gathering, where we listen to and discuss the current episode. This week, Jeremy of Proles Pod will be joining us. If you have questions for him, bring them! Tuesday, April 28th, at 8pm ET/5pm PT. Register here: https://us06web.zoom.us/meeting/register/G7ijDSVmTcKeDc82AAs0XQLast year, Proles Pod completed a multi-part series on The Stalin Eras. Now Jeremy, one of the co-hosts, joins Steve for a conversation about it, resulting in a two-part dialectical excavation of Joseph Stalin and the Soviet Project. The purpose of this exploration is neither to sanctify nor condemn, but to strip away bourgeois mythologies and ground the discussion in material conditions and collective processes.In Part One, Jeremy and Steve look at democratic centralism, where rigorous debate is followed by unified action, then contrast it with the false choice offered by US electoral politics. They draw on Rosa Luxemburg, Julius Nyerere, and materialist analysis of US history (slavery, sett

** Questions about MMT? Thoughts about the episode? Come to our online gathering, Macro ‘n Chill. Tuesday, April 21, 8pm ET/5pm PT. Use this link to register: https://us06web.zoom.us/meeting/register/RkspaP0RSNajdc69bqUmkAJim Byrne of MMT101 is back for a conversation that moves beyond the technical mechanics of Modern Monetary Theory to ask the tough questions. While affirming MMT’s core insight that a currency-issuing government doesn’t face financial constraint, only real resource limits, they argue that this knowledge is politically neutered by the structures of capitalism.Jim lays out a clear, accessible primer on how money actually works and breaks down the scarcity myth. But the real question isn’t can governments act, it’s who they serve when they do.Looking at the failure of bourgeois democracy, they talk about cultural hegemony and neoliberal ideology as well as class struggle vs. gradualism. The discussion touches on Scotland as a colony of Westminster and the limits of referendums under an imperia

** This week’s Macro ‘n Chill might shake us up. Some of us, at least. Come discuss the episode with the community. Tues, April 14, 8pm ET/5pm PT. Use this link to register: https://us06web.zoom.us/meeting/register/PIf2VnjBS-mwX-Bd4BwWYQIn a solo episode, Steve sets out to describe and explain some of the shifts in direction for Real Progressives and the podcast, mirroring his own changing perspective. He reflects on a decade or more of championing Modern Monetary Theory, while grappling with a dawning realization. Despite MMT’s crystal clear insights into sovereign currency with the potential for popular federal programs and public investment, the political system itself is a scam.He describes a journey of discovery (yeah, we know that sounds corny) peeling away the layers to explain the Gilens and Page study and global events. Gaza, US foreign policy, austerity, racism, empire, ramping up of brutal law enforcement within the US... each question leads to another. Weekly guests for Macro N Cheese help provide

Join our community on Tuesday evening as we listen to and discuss this episode. April 7th at 8pm ET/5pm PT. Use this link to register: https://us06web.zoom.us/meeting/register/nkkVRy2JQbW2Eh4VDtcNHQClara Mattei and her first book, The Capital Order, were hugely important to Real Progressives as we began to expand our focus from Modern Monetary Theory and investigate the political economy of the capitalist system.Now she joins Steve to talk about her new book, Escape from Capitalism. They discuss how capitalism maintains itself through market dependence, exploitation, and austerity, and why escaping it requires building alternative institutions rather than relying on elections or reforms within the capitalist state.Steve and Clara are largely aligned in their critique of the system, but there are some disagreements. They debate aspects of MMT, including how interest rates, state spending, and monetary sovereignty function across different contexts. Their differences open up a deeper discussion about the limits

** Have you been coming to Macro ‘n Chill on Tuesday evenings? It’s the online gathering where we listen to and discuss our latest episode in a relaxed atmosphere. Bring your questions and insights and help build the community. March 31 at 8pm ET/5pm PT. Register here: https://us06web.zoom.us/meeting/register/OhW98SYfRN64vCaX2NVITA  Carlos García Hernández, author of Fiat Socialism: Achieving the Goals of Socialism Through Modern Monetary Theory, joins Steve to revisit their discussion of topics covered in his earlier visits to the podcast. Their dialogue wrestles with a deceptively