I have been pondering Marxist resistance to MMT. From the standpoint of Marx’s theory of value, the resistance makes little sense, since there is nothing in MMT necessarily incompatible with a conception of value based in labor time. From the standpoint of politics, it also makes little sense, because there is nothing in MMT necessarily incompatible with the Marxist view that capitalism is irredeemable and a transition to socialism/communism the only worthwhile alternative. MMT in itself does not rule out that possibility; it is simply agnostic on the matter. Upon reflection, the sticking point may be Marx’s retention (with modification) of the classical distinction between ‘productive’ and ‘unproductive’ labor. Marx’s criteria for distinguishing productive from unproductive activity is not obviously applicable in a state money system.