Macro N Cheese
Macro N Cheese
Steven D Grumbine
Ep 367 - MMT & Marxism: Finding Common Ground with Owen Bennett
1 hour 5 minutes Posted Feb 14, 2026 at 11:30 am.
The Shift in Socialist Thought
The Future of Socialism and Economic Paradigms
The Debate Within Marxism: Reform or Revolution?
The Tension Between Marxist Theory and MMT
Understanding Full Employment: Lessons from History
Rethinking Unemployment Policies
Rethinking Job Guarantees in Political Contexts
The Challenge of Messaging MMT
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Show notes

Can Marxists and MMTers find common ground, or are they doomed to be strategic enemies?

Steve’s guest is Australian labor historian and organizer Owen Bennett, who founded the Australian Unemployed Workers’ Union in 2015, and more recently, Unionists for a Job Guarantee in 2024. He and Steve explore how to tackle the deep divide between Modern Monetary Theory and the Marxist left. Owen argues that the left's current dismissal of full-employment policy is a historic break from a time when communists and unionists successfully fought for – and won – some major concessions under capitalism. We should look to establish that kind of unity.

If the state is a tool of the oligarchs, is fighting for a policy like the Job Guarantee a distraction from revolution, or is it a necessary front in the class war? Steve and Owen discuss austerity, strategy, and whether "socialism or bust" has left the working class with nothing at all.

Owen Bennett is a unionist, university tutor, PhD graduate in labour history, activist, author, and researcher. He has published widely on the history of working class struggles against unemployment in Australia. His book on the struggle for full employment in post-war Australia is forthcoming.

Owen founded the Australian Unemployed Workers Union in 2015 and, more recently, Unionists for a Job Guarantee in 2024.