Every society has the illusion that its economic system is a law of nature.
We no longer think that we should work for a Pharaoh, as did the ancient Egyptians, because Pharaoh was a God.
In twenty first century Britain we consider we work for money.
That means Money is power.
Money is our Pharaoh.
Yet money is man-made.
Government creates it.
We elect governments.
They control who gets it.
Rather than concentrating on ‘Modern Monetary Theory’, I wonder whether this summary is an easier method of communicating the role of money more widely.
What governments usually want and what society needs is for people to do things.
What people with money want is for this activity to be controlled with money. That way they get the control.
If money is to work for us all rather than the wealthy financiers we have to put the things we need done first – the money has no other purpose than to facilitate it.
Getting money wrong puts the financiers in charge and we know from the 2008 financial crisis that is absolutely the last thing we want.
We might even be better off bringing back the Pharaohs….