A Manifesto

In the capitalist system, the prime directive enshrined in law is to maximize profit for the shareholders, and not to optimize benefits for all stakeholders, inclusive of workers, customers, communities and our planet.  These are treated as externalities so as to privatize the gains and socialize the losses.

In this system, workers are seen as a cost (a liability) and if the capitalists can automate what workers do, and thus bring the cost of “labour” to zero, they would do that readily to maximize profit gains.  Also having a bumper stock of unemployed people keeps the price of labour low (according to market supply-demand principles), hence the manufacturing of poverty and economic refugees, which can be stopped in a heartbeat if there is the local and global political will to end tribal “wars” and destabilizations within and without……

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Demystifying Modern Monetary Theory, Stock-Flow Consistent Macro Models & Deficit Spending 101 | Professor Bill Mitchell

New Economic Thinking Published on Dec 28, 2014 In a challenge to conventional views on modern monetary and fiscal policy, Professor Bill Mitchell of Newcastle University in Australia has emerged as one of the foremost exponents of Modern Monetary Theory (MMT), a heterodox challenge to the prevailing paradigms which dominate how mainstream economics is taught… Read More