money systems

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.”

George Soros plan to share ECB seniorage receipts with Euro member state using a special purpose vehicle.

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. [...]

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. [...]

The Austrians Randall is talking about are not to be found on skiing trips in the Alps.  We don’t have many of them in Ireland.  But this is also a good intro to Randall’s next series of discussions on the Job Guarantee.  MMP Blog 38: MMT for Austrians by umkc.economists@gmail.com By L. Randall Wray ….Anyone [...]

Marshall Auerback is not so sure that the wall of money needed to cauterise any Greek default is so readily forthcoming as some suppose. Trouble in Euro Zone Paradise? by umkc.economists@gmail.com By Marshall Auerback The Europeans evidently thrive on instability and the ongoing threat of systemic risk. There is nothing else to explain the renewed [...]