This is the paper I will give at this year's System Dynamics conference in Bergen, Norway, on August 4-8 2024. It should be of use to anyone trying to argue sense with politicians.
Steve, all we need is a billionaire or two to get behind MMT and Minsky financially. Smart people these guys. Wonder why they (and their advisors) don't read your stuff. Musk has a Wall Streeter running his home office. Wouldn't be anti-competitive behavior would it? Humm.
What you really need is a billionaire or two (preferably non-financial ones) who see how the policies of a new monetary paradigm of Gifting will double the potential demand for his and virtually every other enterprise's goods and services. You have to "show them the money". MMT is correct about the mechanics of money creation and Minsky has the accounting right, but all the debits and credits and calculus make people's eyes glaze over.
You need policies that implemented at strategically powerful/aggregative points in the economic process and whose personal economic effects can be perceived by the general populace doing the simple math ... solves problems and changes systemic realities. Preaching to a choir of ego involved neo-classically hypnotized academics is a non-starter. Systems analysis is wonderful and good, but philosophy applied to that analysis and communicated widely actually gets us somewhere.
Retail enterprises and either the FED or the Treasury open T accounts. The retailer's account is called 50% Sales Discounts and the FED/Treasury's is called 50% Retail Rebates. You can either create the money as bonds or just plain old money. Same accounting for a 50% Gift of total interest to the bank/50% Debt jubilee to the consumer. Voila! accounting and the new monetary paradigm of Gifting enables benefits no one ever conceived before.
Hi Steve. Are you interested in feedback about possible typos? Found a few on my first quick read but if you have somebody else checking ....
I don't Herb--my research assistant and my proofreader (both me) are useless. So check away...
Steve, all we need is a billionaire or two to get behind MMT and Minsky financially. Smart people these guys. Wonder why they (and their advisors) don't read your stuff. Musk has a Wall Streeter running his home office. Wouldn't be anti-competitive behavior would it? Humm.
The same for Ravel would do me fine!
I'll launch it sometime this year and hope to make some money to finance my activities before capitalism collapses.
What you really need is a billionaire or two (preferably non-financial ones) who see how the policies of a new monetary paradigm of Gifting will double the potential demand for his and virtually every other enterprise's goods and services. You have to "show them the money". MMT is correct about the mechanics of money creation and Minsky has the accounting right, but all the debits and credits and calculus make people's eyes glaze over.
You need policies that implemented at strategically powerful/aggregative points in the economic process and whose personal economic effects can be perceived by the general populace doing the simple math ... solves problems and changes systemic realities. Preaching to a choir of ego involved neo-classically hypnotized academics is a non-starter. Systems analysis is wonderful and good, but philosophy applied to that analysis and communicated widely actually gets us somewhere.
Retail enterprises and either the FED or the Treasury open T accounts. The retailer's account is called 50% Sales Discounts and the FED/Treasury's is called 50% Retail Rebates. You can either create the money as bonds or just plain old money. Same accounting for a 50% Gift of total interest to the bank/50% Debt jubilee to the consumer. Voila! accounting and the new monetary paradigm of Gifting enables benefits no one ever conceived before.