Mosler/Pilkington: A Credible Eurozone Exit Plan

Nov 22, 2011 Comments Off
By Warren Mosler and Philip Pilkington.  The Eurozone has certainly seen better days. The mess is only getting messier. Leaked documents from within the Troika show the austerity programs to be an abject failure and yet European officials continue to consider them the only game in town. So, we contend that the periphery governments should have a credible exit strategy on hand and it is to this that we now turn.
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The Cabal

Nov 13, 2011 2 Comments
The financial world has out-stripped the real world. Our current economic crisis is too good an opportunity to miss since it allows radical action to be taken.
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2012 Jobs Programme : Smart Taxes Network Budget Submission

Nov 08, 2011 Comments Off
The Irish economy needs stimulus and the most effective way to do this is to implement an immediate jobs program backed by newly issued, low-yield tax-backed Jobs Bonds. This will provide the financing necessary for such a program without adding to Ireland’s already substantial interest burden. [...]
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Will the “economic price” limit oil production?

Nov 08, 2011 3 Comments
by Richard Douthwaite. In a widely-circulated article in September 2011, Chris Skrebowski, who runs a peak oil consulting firm and was editor of the Petroleum Review for eleven years until 2008, argued that there are two forms of oil peak. One is, or will be, caused directly by depletion – the oil is no longer in the ground in sufficient quantities for producers to be able to maintain production. The other is the economic oil peak, which he says is the “price at which oil becomes unaffordable to consume and therefore to produce.” Is this assessment realistic?
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In Praise of Non-Debt-Based Money

Nov 01, 2011 4 Comments
by Graham Barnes. The debt we accumulate as individuals, companies and governments is instrumental in depleting the planet and deepening the rich-poor divide. This 'value-led' critique is powerful and compelling to those wishing to listen, but it is not enough, of itself, to procure any meaningful systemic/ structural change in the monetary regime. We need to communicate widely about the side-effects of debt-based money, and to help people to imagine non-debt based alternatives.
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Escape routes: Fleeing Vesuvius – which way should we go?

Oct 28, 2011 No Comments
In our final installment from the Irish edition of Fleeing Vesuvius, contributors to the book suggest steps they think should be taken to escape disaster in four areas – in one's family, in one’s community, in one’s country, and in the world. Compiled by Caroline Whyte.
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Debt cancellation without chaos – a programme for the Occupy movement?

Oct 16, 2011 11 Comments
The Occupy movement needs some clear, simple ideas to champion. Debt cancellation is a clear, simple idea - but how can it be done in a way that is not chaotic and is fair to all, eg to the people who were never in debt anyway? And can it help us to start to work on our "ecological debts" too?
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Liquidity Networks: local trading systems using a debt-free electronic currency

Sep 23, 2011 No Comments
by Graham Barnes, from Fleeing Vesuvius. No currency will work unless people accept it from each other so this novel money will be put into circulation as a way of rewarding those who are accepting and spending it most.
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National strategies for dealing with Ireland’s debt crisis: exploring the options – September 22-23 2011

Sep 17, 2011 No Comments
Feasta’s Autumn conference examined measures that this country could adopt to secure its economic future which would not leave it reliant on external factors largely outside of its control. Scenarios explored included the potential collapse of the eurozone. The conference featured prominent international and Irish economists and was aimed at economists, politicians, policy-makers, business people, social partners, and other key decision-makers. Conference videos Conference programme (pdf)
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The Parallel Punt

Sep 17, 2011 7 Comments
Feasta has been exploring the potential for parallel currencies for some time, largely through the Liquidity Network project which is aimed at boosting local economies at a time when euros are scarce. Now a related idea is gaining traction at a national level in the form of a Parallel Punt. This surprisingly conservative option was discussed at Feasta's Autumn Conference held in Dublin on 22nd/ 23rd September. In this preview Graham Barnes set the scene for what could be a gamechanging development.
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Michael Hudson on Rating Agencies

Aug 19, 2011 Comments Off
Michael Hudson is always worth the time to read.  In this piece in New Economic Perspectives he eviscerates the rating agencies.  Here are his concluding remarks.. …No less a financial publication than the Wall Street Journal has come to the conclusion that “in a perfect world, S&P wouldn’t exist. And neither would its rivals Moody’s [...]
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Helping to regenerate: overcoming conflicts of interest in property development

Jul 29, 2011 1 Comment
The conventional way of financing property development entangles those involved in a web of debt and conflicting business interests. This week we are featuring two articles from Fleeing Vesuvius which describe a new way of organising developments that promises better buildings, more affordable rents and a stake in the outcome for everyone. Chris Cook provides an overview of this new approach and James Pike gives examples of how it could work to rescue building projects hit by the downturn in Ireland.
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Deficit easing – an alternative to severe austerity programmes in the eurozone

Jul 19, 2011 1 Comment
The EU's collective austerity programme will do little or nothing to save the problem countries - Ireland, Greece, Portugal and Spain - from default and the rescue fund set up by the IMF and the ECB will only buy time before they do so. Richard Douthwaite argues that a limited, targeted injection of non-debt-based euros could provide a neat and swift solution to a debt problem the whole eurozone shares.
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