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Daniel Conceição is back to discuss the social damage of rentier capitalism and the potential to address it through the insights of Modern Monetary Theory.

Rentier capitalism derives profit from ownership and manipulation of assets rather than through productive activity. While industrial capitalism also creates inequality, rentier capitalism, or rent seeking, exacerbates the division.

State-controlled money creation could nullify some of the speculative advantage of rentiers by directly funding critical public services, such as housing and healthcare. It may not be the ultimate answer, but it’s worth looking at.

Daniel and Steve discuss the importance of overcoming mainstream economic fallacies that serve the interests of the financial elite.

Daniel Negreiros Conceição did his undergraduate studies in Economics at the Federal University of Rio de Janeiro in Brazil and his postgraduate studies at UMKC (under Professors Wray, Kelton, et al). He is a professor of macroeconomics and public finance at the Federal University of Rio de Janeiro. He helped create the Institute for Functional Finance and Development (iffdbrasil.org), and he helps run the Brazilian Modern Money Network (https://mmtbrasil.com/) aimed at producing more easily accessible material for teaching MMT to the wider public.

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