Episode 246

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Published on:

14th Oct 2023

Ep 246 - Fiat Socialism... The Convergence with Carlos García Hernández

Carlos García Hernández is the author of Fiat Socialism: Achieving the Goals of Socialism through Modern Monetary Theory. He lays out the five goals of fiat socialism:

  • Full employment
  • Full and prudent use of material resources
  • The guarantee of the five essentials to every citizen: food, housing, clothing, health services, and education
  • Social security at all major exposed points in the social structure (eg, old age, sickness, accident, temporary unemployment, and childbearing)
  • Labor standards, to be assured by labor unions


Carlos maintains that any society achieving these five goals at the same time and permanently should be called socialist, no matter the size of the private sector.


Steve and Carlos discuss the philosophical foundations of both fiat socialism and Marxism. They also look at the role of the IMF and the possibilities for monetary sovereignty in developing nations.


Carlos García Hernández is the founder and director of Lola Books, a publishing house that has introduced MMT to Spanish and German readers. He is the author of Fiat Socialism: Achieving the Goals of Socialism through Modern Monetary Theory.


@Carlos_G_H_ on Twitter Or X

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Macro N Cheese
The MMT podcast for the people!
A podcast that critically examines the working-class struggle through the lens of MMT or Modern Monetary Theory. Host Steve Grumbine, founder of Real Progressives, provides incisive political commentary and showcases grassroots activism. Join us for a robust, unfiltered exploration of economic issues that impact the working class, as we challenge the status quo and prioritize collective well-being over profit. This is comfort food for the mind, fueling our fight for justice and equity!
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Steven Grumbine

Steve is a lot more than just the host of Macro N Cheese, he's the founder and CEO of two nonprofits and the “less is more" project manager! He uses his extensive knowledge of project management, macroeconomics and history to help listeners gain a vision of what our future could look like.