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 …
Democratizing Money: On Mary Mellor’s “Debt or Democracy”: Quantitative Easing for People and Investment in the Common Good
By David Bollier, 31 Mar 2016 Although it is widely assumed that governments are the source of all new money – through “printing it” – the so-called private sector is the source of most new money put into circulation. In one of the most successful enclosures of the commons in our time, commercial finance institutions have captured the power to create …