The Guardian view on a Green New Deal: we need it now. Policymakers ought not wait for economic theory to catch up with the environmental crisis

Editorial Sun 12 May 2019 The Guardian Share on Facebook Share on Twitter Share via Email The Green New Deal – In Britain it is advocated by both Tory MPs and Jeremy Corbyn; while a non-partisan Canadian coalition of nearly 70 groups are backing such a scheme. However, it has been made flesh by US Democrats, in particular the political phenomenon in the US House of Representatives, Alexandria …

Bronze Age rulers simply canceled debts. We should too.

“And forgive them their debts”: Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year is about the origins of economic organization ad enterprise in the Bronze Age, and how it shaped the Bible. Hudson writes, it is moral for creditors to have to bear the risk (“hazard”) of making bad loans, defined as those that the debtor cannot …

On Paying for a Green New Deal with Modern Monetary Theory: When MMT works and when it doesn’t (toward full employment)

March 18, 2019 by Dean Baker, Hankyoreh, On Paying for a Green New Deal with Modern Monetary Theory We should perhaps not blame politicians who advocate a GND without telling us how they plan to pay for it. After all, Republican politicians have been getting elected for 40 years by promising big tax cuts without saying how they would pay for them. Still, MMT …

The Economy for the Common Good: A Workable, Transformative Ethics-Based Alternative, by Christian Felber

By Christian Felber, Vienna University of Economics and Business and Gus Hagelberg, Coordinator for International Expansion of the ECG more, February 27, 2017,  MONEY & BANKING, DEMOCRACY & GOVERNANCE This paper by Christian Felber and Gus Hagelberg, published alongside three others, is one of many proposals for a systemic alternative we have published or will be publishing here at the Next System Project. You can read it …

The latent, unused power of citizens—and the production of public collateral

The latent, unused power of citizens—and the production of public collateral, Ann Pettifor, Democracy Collaborative and Next System Project, January 24, 2019, MONEY & BANKING Introduction It was just a montage of words uttered over a video in the summer of 2018. Soon the words went viral. They helped unseat a Wall Street-friendly Democrat—one primed to be the next congressional leader. They …

Money and ethics

By Carlos Joly Money matters. Money in national budget allocations determines who gets health care, who gets educated, who gets unemployment cover, which industries and companies are favored, and whether the country goes to war. Obviously, national budget line items say much about a society’s moral beliefs, its governance and who wields real power. As the song says, money makes …

Public or private banks: which is more efficient? Public banks offer more support for a wider range of borrowers and stabilize the economy rather than de-stabilize it

From the Real News Network. Link to study: https://www.peri.umass.edu/publication/item/1036-does-greater-public-ownership-in-the-financial-system-promote-superior-performance Devika Dutt is a PhD candidate in Economics in the Department of Economics at the University of Massachusetts Amherst. She is also a research assistant at the Political Economy Research Institute. Her research explores alternative ways of organizing financial markets and financial market reform. GREGORY WILPERT: Welcome to The Real News Network. …

Debts That Cannot Be Paid Will Not Be – Is Capitalism Insolvent?

By T. Sabri Öncü  Prime Economics and The New Weather Institute 20 July 2017 Debts That Cannot Be Paid Will Not Be  International & World, Private Debt Total global debt has increased, growth has been slowing down since the onset of the global financial crisis in 2007 and has been rapidly decelerating after 2012. This may be a sign that the world has arrived at …

Debt or Democracy: Public Money for Sustainability and Social Justice

Local initiatives can lead to modest gains in sustainability, but not the large-scale transformation we need. Meeting that challenge will require, among other critical factors, substantial changes in how we create and use money. As its history demonstrates, money is a social and political construct. It is the privatization of money—and not money itself—that has fueled social exploitation and environmental …