money systems

The Fiscal Summit Counter-Narrative: Part Two, Defining Fiscal Sustainability

New blog source Corrente I found that is spreading Modern Monetary Theory ideas. It gives a well recorded account of a Fiscal Counter Summit with all of the MMT big hitters. The second part includes Bill Mitchell which I excerpt here to give some southern hemisphere balance on our Smart Taxes blog. He says in short "the sustainable goal of the economy should be the zero waste of the people in the economy… . as a consequence of the way we structure our economy and the way that policy intervenes to manipulate the economy.”

Creative Thinking by Pilkington and Mosler to Solve Ireland’s Debt Problem

Philip Pilkington has worked with Smart Taxes and the Economic Working Group of the Irish Environmental Pillar on the Green Job Guarantee. Here he has partnered with MMT economist and market maven Warren Mosler and convinced the prestigious Levy Institute to publish their idea for Tax-Backed Bonds. The ‘tax-backed bond’ or ‘Mosler bond’ is based on the MMT idea that fiat money gets its value because the government accepts it in the payment of taxes. [...]

Ann Pettifor Predicts Another Credit Crunch

The fact is Britain’s household, corporate and financial sector debts are vast, and may well never be repaid. As the McKinsey Global Institute points out, British banks, corporates and households are only beginning to ‘de-leverage’ these debts – pay them down, or write them off. The more is paid down, the less is available for spending. [...]