Do not forgive them, for they know just exactly what they do.
If you have never had a course in economics, congratulations! You just may have saved yourself a lot of confusion, and loss in grade points. However, you may feel a lack of some understanding of ongoing events, and how those events have affected your life. Real Progressives is about gaining knowledge in the important area of economics so that we can protect ourselves within a system that uses our lack of wisdom against us in numerous ways. This article will start with the most basic concepts within economics in order to start you on the path to attaining that wisdom.
Bloomberg published an article by Michael Strain (director of economic policy studies at the American Enterprise Institute, a conservative think-tank) on January 17 entitled "Modern Monetary Theory is a Joke That's Not Funny." As a convert from the "tax-and-spend" theory to MMT (Modern Monetary Theory), I believe there are some major misunderstandings in this article that deserve correction and deeper examination.
Steve and Steven discuss what the prospects are for a viable economic system with a 40 percent reduction by 2030 and no new emissions by 2050.
Steven Grumbine interviews Professor Bill Mitchell about the “Theory” in Modern Monetary Theory, once again demonstrating that the two of them can make even complicated economic concepts accessible to the layperson.
This analysis of the pathophysiology of the taxation system informs the four taxation proposals presented here, which are crafted on the observed mechanics of the US monetary system as described in MMT.
"As far as what specifically would happen if the world stopped using the United States dollar for oil? The answer is, “Very little.””
... my message was not getting through. Telling people point blank that taxes do not fund spending always leads to a change in subject. It always leads away from what is so very important about MMT. Which is that MMT describes how macroeconomics operates in the modern world.
You must be diligent in order to get the message out about #MMT
My purpose here is to spur the development and refinement of the conversation already going on about how to better disseminate knowledge and acceptance of MMT.
While Flint’s problems surely run deeper than its lack of local tax revenue, it’s difficult to overstate what a substantial injection of capital could do for the city. The question: where does Flint “find” the money? Enter Modern Monetary Theory.
The mainstream voices—the economists and journalists and political leaders—thrive on this question of how to divvy up the pot of “money” that America, by some inexplicable process, has been allocated to have. Staking out positions in this allocation argument is their career and sustenance. To take their argument away (by suggesting the pot of “money” is, in fact, expandable—as needed—by the direct sovereign spending of fiat-currency) threatens to leave them marginalized and irrelevant; even worse: possibly unemployed?