The proposal is for the ECB to create and then distribute trillions of euros annually to the national governments on a per capita basis. The per capita criterion means that it is neither a targeted bailout nor a reward for bad behavior. In fact, as the largest economy, Germany would get the largest distribution of euros from the ECB. This distribution would immediately adjust national government debt ratios downward, which eases credit fears without triggering additional national government spending. [...]
Published by Green Books, The Future of Money by James Robertson restates much of his thinking around monetary reform and brings it bang up to date in the context of the Euro crisis. It focuses a great deal on the arguments for governments reclaiming their right to issue money from the banks, and the enormous potential benefits to society of so doing. Highly recommended.
This new study by David Korowicz explores the implications of a major financial crisis for the supply-chains that feed us, keep production running and maintain our critical infrastructure. He uses a scenario involving the collapse of the Eurozone to show that increasing socio-economic complexity could rapidly spread irretrievable supply-chain failure across the world.
Interesting comments on Ireland vis a vis Greece and the way we should have voted and why by Yanis Varoufakis. Its worth noting that Sinn Fein invited Yanis to Dublin last year before he won his present high profile. It is easy to underestimate Sinn Fein's very fast learning curve in economics and monetary systems. [...]
Brian Davey's preface to our new book Sharing for Survival: Restoring the Climate, the Commons and Society describes climate change as a 'wicked problem', with no single, clear solution. The book therefore presents a patchwork-quilt-style diversity of responses to climate mitigation. Although the authors may differ in the specifics of what they suggest, they are united by their concern for effectiveness and equity.
This speech has been causing consternation amongst economists and investors. I suppose it is because Soros is telling the truth of the situation as he sees it stripped of wishful thinking. You will see that Europe is likely to experience an eventful three months at the end of which things will have changed fundamentally - whether for better or worse is impossible to say. I think that Soros smart as he is, may not have spotted a third outcome - that of the recognition of the Euro as a social commons and the ECB as its trustee. [...]