Macro N Cheese

Cory Doctorow writes when he’s anxious. He has eight books coming out soon. Yep, it’s been a tough couple of years.

The number of upcoming books gives us a sense of the wide range of subjects Doctorow concerns himself with. His upcoming Chokepoint Capitalism, co-authored with Rebecca Giblin, is about monopoly, monopsony, and fairness in the creative arts labor market.

Cory and Steve return to several themes throughout this episode, including the crushing effects of concentrated power. The past 40 years have seen an expansion of copyright laws, but the share of income creators receive from their labor has been in free fall and shows no sign of slowing. We know how Amazon treats its employees, so we shouldn’t be surprised that it abuses writers. Amazon’s audio book platform, Audible, controls about 90% of the market, making it able to steal from artists in multiple ways. (After listening to this podcast, go check out #audiblegate on social media.)

Excessive corporate power and monopoly concentration have captured and neutered regulatory bodies and strong-armed the unions. Cory’s book focuses on the labor of artists and creators, but workers in every industry are fighting to stay afloat. Monopolies also have a choke hold on us as consumers – and as citizens facing social and environmental catastrophe.

Neoliberalism relies upon our isolation – our belief that each of us is facing the world alone and powerless. By effectively starving the machinery of the state, it too is rendered impotent. At the end of the road, there is only capital. Margaret Thatcher said, “there is no alternative.” As a science fiction author, Cory Doctorow has a problem with that. His job is to imagine alternatives.

Cory Doctorow (craphound.com) is a science fiction author, activist and journalist. He is the author of many books, most recently RADICALIZED and WALKAWAY, science fiction for adults; HOW TO DESTROY SURVEILLANCE CAPITALISM, nonfiction about monopoly and conspiracy; IN REAL LIFE, a graphic novel; and the picture book POESY THE MONSTER SLAYER. His latest book is ATTACK SURFACE, a standalone adult sequel to LITTLE BROTHER; his next nonfiction book is CHOKEPOINT CAPITALISM, with Rebecca Giblin, about monopoly, monopsony and fairness in the creative arts labor market, (Beacon Press, 2022). In 2020, he was inducted into the Canadian Science Fiction and Fantasy Hall of Fame.

@craphound on Twitter

Some of the more, um, senior members of the Macro N Cheese team can remember a time when the Democratic Party supported labor and the union movement. Then we came to realize we had it backwards – it's really the Party expecting support from the unions, who made donations, helped with campaigning, and got out the vote. Followers of this podcast are regularly introduced to guests who bring word of a newly invigorated labor movement – one that is no longer tied to the Democrats’ apron strings.

Steve’s guest is Liz Medina, the Executive Director of the Vermont State Labor Council, AFL-CIO. Her job title does a poor job of telling you what makes her so interesting. She is an artist (check out her Manifesto for Common Art) as well as a podcaster working to build an oral working-class history and culture. She’s a labor organizer with an expansive vision of the need for class struggle unionism and the understanding that unions don’t exist in isolation; they must be connected to community and independent political groups. She speaks of the need to rebuild the relationship between the left and the labor movement, which has been decoupled since the days of the New Left in the 1970s.

Liz talks about the labor movement in general, past and present, and the Vermont AFL-CIO. She describes the need to turn the movement around and adopt class struggle unionism. “We believe in the rank and file strategy,” she says. “We believe in prioritizing organizing and not being afraid of being militant.” Activists should follow suit.

Liz Medina is the Executive Director of the Vermont State Labor Council, AFL-CIO. Previously, she served as the Goddard College Staff Union Co-Chair, UAW 2322. She received her MFA from Goddard College and an MA in Cultural Studies from Goldsmiths, University of London. She hosts an oral history podcast called En Masse to build working-class history and culture in her spare time. En Masse is part of the Labor Radio Network. Find her art and other content at atlizmedina.com

@LizMedinArt on Twitter

When Jakob Feinig speaks of moral economies, he’s talking about we, the people – the currency users – and how we relate to the institutions that issue money, as well as our monetary knowledge and its ability to inform direct action. Needless to say, Modern Monetary Theory is an essential component of this.

This week he and Steve discuss both moral economies and “monetary silencing,” a concept that gives shape to the frustration MMTers experience on a daily basis. Feinig has said he derived the term “silencing” from Paolo Freire, the Brazilian educator and philosopher who wrote about the dehumanizing nature of political silencing, denying people the right to participate in their own history.

Feinig gives historical examples of both moral economies and monetary silencing – though rather fewer of the former than the latter in recent times. During the US Civil War, the federal government issued the greenback, a brand new currency. Not only did it enable them to win the war, it also made visible the fact that the government has the power to spend money into existence. (Haven’t we said the same about Covid stimulus checks?)

The gold standard and bitcoin are among the notable monetary silencers, but some may be surprised to find FDR in this category. Feinig makes the case that he was one of the most successful. We cannot disagree.

Jakob Feinig is a historical sociologist who writes about the connection between justice, democracy, and monetary design. He teaches at the State University of New York (Binghamton). His book, Moral Economies of Money: Politics and the Monetary Constitution of Society, will be published in October, 2022.

@FeinigJakob on Twitter

**Every episode of Macro N Cheese is accompanied by a full transcript and an “Extras” page of additional resources. Find them at realprogressives.org/macro-n-cheese-podcast/

This week Steve interviews Latasha Holloway, who is running for Congress in Virginia’s Third District. What makes the episode unusual is the fact that there’s very little campaign talk, except in connection with her legal battle against the Commonwealth. Listening to her story, it's easy to see why she’s running for office. The circumstances of her life left her little choice.

Latasha’s family history is one of multi-generational poverty with the collateral trauma connected to it (but often overlooked) and the failure of systems that could - and should – have provided assistance. Although she was ultimately able to break the cycle of poverty, the systemic failure continued to plague her and her children, two of whom were adopted and have special needs.

Navigating the educational system, the health department, the foster care system, and the Veterans Administration, among others, led to her determination to run for office – at which point she learned about Virginia’s twisted electoral laws.

To follow Latasha Holloway’s campaign, visit her website, latashahollowayforamerica.com/

@latasha_4equity on Twitter

David Van Deusen, president of the Vermont State Labor Council, AFL-CIO, talks to Steve about their radical ten-point program, adopted in 2019. In the interview, he explains why they were spurred to develop the plan and breaks down what it means in practice as they move away from lobbying and expand their focus on the rank-and-file. This includes training workshops for non-union workers – How to Organize 101.

David describes their approach to building a social justice-oriented labor movement. They work with groups like Migrant Justice to support efforts to ensure safe and fair working conditions for undocumented farm workers. They seek to build bridges to non-labor organizations, “be they farmer or environmental groups, (who) are ready and able to embrace our core working class values.”

The fifth item of the ten-point plan calls for a Green New Deal. This is followed by item number six, “Electoral Politics,” which begins: “The time of the VT AFL-CIO endorsing candidates simply because they are a Democrat is over.”

Below are excerpts from the preamble to the Vermont AFL-CIO Ten Point Program:

A NEW PATH TOWARDS PROGRESSIVE CHANGE FOR LABOR

Organized Labor has been the most powerful force for change in the History of the United States of America. From the 8 hour day/40 hour work week, the establishment of the weekend, livable wages (in Union shops), to workplace safety standards; Labor has won these foundational victories through collective action and solidarity. However, for some decades Labor, nationally, has been on the decline.

…

This wilting of Labor does not have to be. We can (and must) be a social and political power once again; one capable not only of defending against the attacks we now face from DC, but also of going on the offensive and delivering positive life altering changes for working people. But we will not achieve our potential if we stay on the road more traveled. We cannot continue to do what we have always done and expect a different result. Nor can we be satisfied with candidates that run for Union office who support all the good things, but who neglect to tell us how we will get there. Instead we must be bold, we must experiment, and we must forge a way forward which not only transforms the Vermont AFL-CIO, but also delivers a powerful Labor Movement with the muscle needed to transform Vermont as a whole. And here, the Vermont we intend to deliver is one wherein working class people not only possess the means to live a secure and dignified life, but one where we, as the great majority, wield the democratic power required to give social and political expression to the many. Such a transformative potential presupposes first a unity around an effective program, and second the development of our immediate political power.

To learn more about Vermont AFL-CIO and see the ten-point plan in its entirety, go to https://vt.aflcio.org/news/vermont-afl-cio-ten-point-program

David Van Deusen, President of the Vermont State Labor Council, AFL-CIO, was elected to office in 2019 as part of the progressive United! Slate. He is a member of AFSCME Local 2413 (Northeast Kingdom), serves on the Labor for Single Payer national Advisory Board, and is a member of Labor Against Racism & War's national Representatives Assembly. Van Deusen is also a member of Democratic Socialists of America and a past member of Anti-Racist Action.

@VT_AFLCIO

Near the start of this episode, Jason Hickel raises Noam Chomsky’s position that the urgency of the climate crisis is so dire it will have to be dealt with under capitalism. There isn’t time to transition to socialism. Hickel disagrees. Capitalism is incapable of handling the problem.

Hickel, an economic anthropologist, begins the interview pointing out the mistaken notion that we have no climate policy, no action, when in fact this is exactly what climate policy action under capitalism looks like: systematic denial and nonstop investment in fossil fuel expansion. It is not due to ignorance. We have the knowledge. We have the science. It boils down to class; the interests of the ruling class are anti-environmental and anti-poor. Capitalism is anti-democratic.

In less than an hour, Hickel lays out the political and economic history of the ecological effects of neocolonialism. He explains why mainstream solutions (if you can call them solutions) to the climate crisis cannot work, despite UN climate resolutions, annual COP conferences, and IPCC reports.

As an MMT-informed ecosocialist, Hickel has powerful suggestions for radical systemic change, including a job guarantee and universal public services. The single most important step would be to nationalize the fossil fuel industry. We talk about capping and shrinking emissions, which are caused by burning fossil fuels, so why are we not targeting the industry itself? The environmental movement constantly faces fossil capital, with its grip on politicians and the media (and unethical scientists). Fossil fuel companies are a dangerous foe. They must be treated as such.

In addition to policy, Hickel also addresses strategy. He urges us to look to the civil rights movement and the anti-colonial national liberation movements of the mid-20th century. A crisis on the scale we are facing requires all hands on deck. We need a working class as well as a global perspective.

We’ll let you in on a little secret: Jason Hickel is one of our favorite interview guests of all time. This little description is woefully inadequate. Listen to it and tell us what you think. There is a transcript and “Extras” page for this and every episode at realprogressives.org/macro-n-cheese-podcast/

Jason Hickel is an economic anthropologist. His research focuses on global inequality, political economy, post-development, and ecological economics, which are the subjects of his two most recent books: "The Divide: A Brief Guide to Global Inequality and Its Solutions" and "Less Is More: How De-Growth Will Save the World".

Find his work at jasonhickel.org

@jasonhickel on Twitter

We often talk about climate change on this podcast. The IPCC deadline is hanging over our heads like the sword of Damocles. This week Steve talks to David Keith, a professor of both Applied Physics and Applied Policy at Harvard, and author of A Case for Climate Engineering.

Climate engineering, a term for solar geoengineering or solar radiation modification, would enable us to alter the Earth's reflectivity and reduce some of the climate risks that come from accumulated carbon dioxide. Keith is quick to point out that this is not a silver bullet but should be considered as part of a multi-pronged strategy.

Managing climate risk involves four basic actions:

• Cut emissions by decarbonizing the energy system
• Remove carbon dioxide from the atmosphere
• Solar radiation modification, or solar geoengineering
• Adaption to reduce the harms of climate change on crops, people, and ecosystems

While there’s no way to address climate change without replacing our energy system, it’s not the entire solution. If we stop all CO2 emissions today, the climate problem won’t improve, it will merely stop getting worse. We won’t have reduced the amount of carbon in the atmosphere. Thus the case for climate engineering.

The discussion includes the different roles for scientists and activists. They look at limitations, or flaws, in the IPCC report, and consider the importance of separating science from strategy.

David Keith has worked near the interface between climate science, energy, technology, and public policy for 25 years. He took first prize in Canada's National Physics Prize exam, won MIT's Prize for Excellence in Experimental Physics, and is one of Time Magazine's heroes of the environment. He's a professor of Applied Physics at the Harvard School of Engineering and Applied Sciences, and professor of Public Policy at the Harvard Kennedy School and founder of Carbon Engineering, a company developing technology to capture CO2 from the ambient air to make carbon neutral hydrocarbon fuels. He is author of “A Case for Climate Engineering.”

@DKeithClimate on Twitter

In a recent episode of Macro N Cheese, Steve spoke with a guest about the MMT view of exports as a benefit and imports as a cost. There ensued some disagreement on social media (where else?) This week Steve invited Bill Mitchell to weigh in on the topic. As their discussion develops, this becomes an episode we’d recommend to anyone who is still unclear on the meaning and consequences of foreign trade deficits.

MMT isn’t a theory of everything. It doesn’t pass judgment or recommend policy.

They discuss national debt, both before and after Bretton Woods. As a bonus, Bill dispels fears of Big Bad China holding too many US dollars. “They're not funding the US government. They've got US dollars because they sold more stuff to you than you sold to them.” The government can always restrict or regulate foreign direct investment. Who should be able to own a country’s natural resources?

Bill and Steve talk about imperialism, globalization, the pandemic, and climate disaster. Bill suggests we start thinking in terms of poly crises. If every crisis is connected to multiple others, does it make sense to take them on one by one?

Bill’s visits usually review some core MMT principles and provide answers to some of the critics. This episode is no exception. Every topic of discussion loops back to the fact that money is not the issue – real resources are. Understanding MMT flushes out political motivation. There’s nowhere left to hide.

From http://bilbo.economicoutlook.net/blog/

Bill Mitchell is a Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at the University of Newcastle, NSW, Australia.

He is also a professional musician and plays guitar with the Melbourne Reggae-Dub band, Pressure Drop. The band was popular around the live music scene in Melbourne in the late 1970s and early 1980s. The band re-formed in late 2010.

@billy_blog on Twitter

Robert Hockett joins Steve to talk about his latest book, The Citizens’ Ledger: Digitizing Our Money, Democratizing Our Future. The episode is right at home in our archive of interviews around the topics of fintech, digital wallets, cryptocurrency, CBDCs, and privacy. We urge our listeners to look up past episodes featuring Brett Scott and Rohan Grey.

Just about everyone acknowledges that digital payment systems offer enormous convenience, but we’re equally aware they come with a cost – we lose all claim to privacy. Bob presents sound arguments for halting the private takeover of the public commons.

Cryptopians, as Bob calls them, are touting Bitcoin and other cryptocurrencies as creating some kind of democratic new world of sovereign selfhood. This is patently absurd. Bob makes the case that we could develop a digital system – a digital wallet – with all the attractive attributes of cash, including privacy and universal accessibility.

Bob describes a way for individuals to pay, receive, and save, while completely bypassing private banks and financial institutions. He says it could be run by the Fed, the Treasury, or both. The Fed would have new monetary tools that directly benefit people instead of banks.

Steve and Bob discuss concerns about government overreach and consider the kinds of regulatory laws that would need to be in place.

As for privacy, well, do you have a smartphone with GPS? Are you making purchases online? Or with a credit card? It’s already too easy to peer into our lives. Unlike private entities, neither the Fed nor the Treasury are profiting from our transactions.

Bob usually has a rosier view than we do at Macro N Cheese, but he always gives us something to chew on. This episode will have you thinking about history, policy, and possibilities.

Robert C. Hockett is an American lawyer, law professor, and policy advocate. He holds two positions at Cornell University and is senior counsel at investment firm Westwood Capital, LLC. His latest book is The Citizens’ Ledger: Digitizing Our Money, Democratizing Our Future.

@rch371 on Twitter

At first glance, HBO’s new documentary series The Anarchists looks like fun. It’s got the sexy circle-A symbol in the title and… Well, at second glance, that’s all it has going for it. The title. If you’re hoping to find the intellectual heirs of Emma Goldman and Bakunin, you’ll be disappointed. These aren’t even the scrappy anarchists of punk rock or the raucous groups waving black banners at demonstrations. HBO’s Anarchists are the one percent. They are tech billionaires and cryptocurrency hucksters. This is the 21st century, where left-wing rhetoric is gobbled up and regurgitated, having been scrubbed clean of its urgency.

Brett Scott is the perfect guest for someone confused by The Anarchists. He doesn’t refer to that show but, in a way, he’s been preparing us for it since his first appearance on this podcast in 2019. He has taken us through the history of fintech, explained the uses of blockchain, and dispelled the myths about cryptocurrency. He makes the case that the war on cash is a war on class.

This week, Brett talks about his new book, Cloudmoney: Cash, Cards, Crypto, and the War for Our Wallets. Just like the so-called anarchists of HBO’s series, in the unholy marriage of big finance and big tech the state is the enemy.

Digital financial transactions are being sold to us as liberating and convenient. Steve and Brett question the assumption that high speed “frictionlessness” is a virtue. They ask whose interests are served through these and other mainstream narratives.

Brett brings his background in anthropology to look at some of the less obvious consequences of replacing state money - a public utility - with a massive global system that is almost impossible to track or understand. What happens when we have no interaction with the people we depend upon?

Brett Scott is an author, journalist, and activist, who explores the intersections between money systems, finance, and digital technology. He's the author of The Heretics Guide to Global Finance: Hacking the Future of Money. His latest book is Cloudmoney: Cash, Cards, Crypto, and the War for Our Wallets. Find more of his work on brettscott.substack.com

@suitpossum on Twitter