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 …
Magic money trees (there are two!). Both the state and banks can create money out of thin air
Mary Mellor, professor emeritus at the University of Northumbria and one of the featured thinkers in the CSG’s “Democratic Money and Capital for the Commons” report, clarifies the ongoing debate on the UK about where money comes from. Originally published in The London Economic. Mary Mellor: That’s right there are two magic money trees. Both the state and the banks can create …
From Ego to Eco: Designing Regenerative Cultures
By Daniel Wahl, author of Designing Regenerative Cultures. Permaculture A new generation of designers are applying ecologically inspired design to agriculture, architecture, community planning, cities, enterprises, economics and ecosystem regeneration. Join them to co-create diverse regenerative cultures in the transition towards a regenerative society. Humanity’s impact needs to shift from degeneration to regeneration before the middle of this century. We will …
The Rock-Star Appeal of Modern Monetary Theory
In These Times, 8 May 2017 (Illustration by Victor Juhasz) In early 2013, Congress entered a death struggle—or a debt struggle, if you will—over the future of the US economy. A spate of old tax cuts and spending programs were due to expire almost simultaneously, and Congress couldn’t agree on a budget, nor on how much the government could borrow …
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