James Meadway recently argued that Modern Monetary Theory (MMT) offers nothing to help us understand or respond to the climate crisis. This is a bold claim, particularly considering the growing number of progressive economists who find it valuable. Does a modern school of economic theory truly ignore one of humanity’s greatest challenges? Of course not.

James’s criticisms were detailed on his Macrodose podcast.

https://podcasts.apple.com/gb/podcast...

James claims that MMT has nothing to say about the climate crisis. However, a closer look reveals that this simply isn’t true.

If James can’t see the connection between MMT and the climate crisis, it is only because he has stopped looking.

James Meadway’s dismissal of MMT overlooks its substantial contributions to understanding and addressing the climate crisis. From reshaping fiscal policy to empowering governments, MMT offers a robust framework for progressive climate action. It should not be hastily rejected by faking to consider how the discipline has evolved. Those engaged in the economics of the climate crisis should explore its potential to drive meaningful change.

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