Tag: MMT

From Disempowerment to Flourishing: Unpacking the Neoliberal Capture of Money Mechanics | ChatGPT4o

Table of Contents

  • What is the difference between the healthy universal recognition of individual human rights and the unhealthy machinations of individualism, and what are the historical and cultural antecedents of these polarizing outcomes given our human developmental potentials?
  • So it appears that while we were empowering individuals politically to develop their potential life capacities, we at the same time were disempowering them economically and socially to actualize their true life capabilities. Is this an accurate assessment of this fundamental imbalance?
  • How can McMurtry’s life-value onto-axiology framework assist in this grand holistic reform project?
  • How can the insights from Modern Monetary Theory be used to unpack how neoliberal capture of the money mechanics creation process is a major player of this disempowerment and how by now having holistic coherent life-value onto-axiology fiscal policies in the driver’s seat, more of the influencers of economic and social change would begin to see the light and catalyze the transformation we all now desperately desire?
  • Can you suggest several possible titles for a blog article on what you have unpacked so far?
  • Can you create an image without words that reflects this?

Read More

Functional Trade Policy: An Integrative MMT and Life-Valuing Approach to Global Economics | ChatGPT4o

Table of Contents

  • How has Warren Mosler’s and Bill Mitchell’s different philosophical and political views affected in positive and negative ways the growth, development and evolution of MMT into the public and private spheres of engagements?
  • What is the basis for the statement in that in foreign trade, from an MMT perspective, imports are “good” and exports are “bad”?
  • What is Steve Keen’s view on this issue?
  • But is this not narrowly focused? What about real constraints related to biophysical limitations, sufficient social needs provisioning, thermodynamic efficiency, supply-chain security and just-in-case precautionary based principles that are needed to widen the boundaries of discourse and factorization to distill the wisdom some more from MMT? How would his then add to the arguments thus far?
  • Just like you have functional financing in MMT that challenges the perceived limitation of fiscal spending, is there a similar concept of functional financing in foreign trade discourses?
  • Given the spectrum and spread and inhomogeneities of nation states monetary sovereignty capabilities, floating or fixed foreign exchange rates, food and energy and resource and skills production capabilities variabilities and insecurities, does this not give amplifying selective advantages to the sovereign monetary states and disadvantages to every one else?
  • How can applying life-valuing functional trade policies and life-protecting and life-enhancing governance structures guided by MMT principles at the international level be conceptualized and operationalized in a life coherent manner.
  • Can you give possible titles for a blog article reflecting the essence of this discussion?
  • Can you create a vibrant image reflecting the essence of this conversation?

Read More

Energy-Eco Dynamics for Metacrises as curated by ChatGPT4o: From Steve Keen, Kate Raworth, John Fullerton, MMT, Salutogenesis and beyond

Table of Contents

  • How does Steve Keen’s energy-grounded economic dynamic analysis help us to understanding our planetary metacrises?
  • Why is it that these insights are not mainstream to give us a realistic accounting of the operations of the world?
  • Can Keen’s insights and those of Kate Raworth’s Doughnut economics be integrated to create a more realistic economic paradigm?
  • How can Modern Monetary Theory’s insights assist in this paradigm shift transition?
  • How can Fullerton’s Regerative Finance insights assist also in this transition?
  • By using the concepts and insights of salutogenesis in individual health, how can the insights above be translated in terms of social, economical and planetary salutogenesis?
  • Is there any other school of thought that you think may be useful for this paradigm shift to be successful?

Read More

On connecting healthy soil and life-valuing financial systems with guidance from Modern Monetary Theory and ChatGPT4o

Table of Contents

  • Can one show using McMurtry’s life-value onto-axiology that healthy soil is the quintessential life-ground, life capital and civil commons all wrapped up into one, and how can we create a compelling argument to simply explain this to all and sundry?
  • Can the Formula: Value = Outcomes/Cost be derived from McMurtry’s Primary Axiom of Value, and if so, how can it be reframed in life-value terms?
  • How can one show using McMurtry’s life-value onto-axiology framework that our current financial system is the antithesis to healthy soil as nature’s banking system and in its reverse projection is the root cause of all of our life-maladies?
  • Given the insights that commercial banks create fiat money out of thin air when they make loans, how has this contributed to the pervasive life-diminishing trends in all spheres of human activity?
  • How do you propose, given what we know now, we rethink how credit is created and guided, to enhance life rather than diminish it, at the local, national and international levels of rules of engagements?
  • How can MMT’s insights into the mechanics of money creation with functional financing that opens up fiscal space for public investments be operationalized to actualize this transformation of the financial and banking sectors?
  • What are the potential challenges and unknown-unknowns that we face with this transformative alignment, and how can we use the Primary Axiom of Value in guiding us through these volatile, ambiguous and uncertain times?
  • In terms of individual empowerment in terms a fearlessly addressing these challenges, how can the primary axiom of value as defined through the fundamental fields of life of thought, felt side of being and action, be guided accordingly in this grand project of life-value re-alignment and re-membering?

Read More

DEGROWTH AND MMT: A THOUGHT EXPERIMENT | Jason Hickel

Modern Monetary Theory (MMT) is getting a lot of attention these days, thanks in large part to the excellent work of Stephanie Kelton and Nathan Tankus, two of the movement’s most effective communicators. Over the past few weeks a number of people inspired by their work have asked me whether there is scope for thinking about degrowth from a MMT perspective. My answer: definitely. In fact, the two belong together.

Read More

Macroeconomics with Warren Mosler, Bill Mitchell and Martin J Watts, Birmingham – 11th May 2019

The Gower Initiative for Modern Money Studies
Published on May 20, 2019

The Gower Initiative for Modern Money Studies was delighted to host this event at which founding proponents of Modern Monetary Theory, Professor Bill Mitchell and Warren Mosler, were joined by their colleague and fellow internationally respected author, Professor Martin J Watts.

Following the launch in March of the textbook ‘Macroeconomics’ and the inauguration of the MMT training college later this year the event focused on giving academics, teachers and the wider public the tools with which they can take a more critical approach to the subject by comparing and contrasting heterodox and orthodox approaches to theory and policy.

This event aimed to challenge preconceptions about how money works and explained how such an understanding offers a lens through which we can develop solutions to the pressing economic, social and ecological issues we face.

Read More

A Selection of Articles on Modern Monetary Theory by L. Randall Wray | neweconomicperspectives.org

Table of Contents

♦ MODERN MONEY THEORY: THE BASICS
♦ Taxes and the Public Purpose
♦ CREATIONISM VERSUS REDEMPTIONISM: HOW A MONEY-ISSUER REALLY LENDS AND SPENDS
♦ Tax Bads, Not Goods
♦ DEBT-FREE MONEY: A NON-SEQUITUR IN SEARCH OF A POLICY
♦ Why Money Matters
♦ MODERN MONEY THEORY: How I came to MMT and what I include in MMT
♦ An MMT View of the Twin Deficits Debate
♦ A Conspiracy Against MMT? Chicago Booth’s Polling and Trolling
♦ A Must Read: Why does everyone hate MMT?
♦ HOW TO PAY FOR THE WAR Read More

SEVEN DEADLY INNOCENT FRAUDS OF ECONOMIC POLICY | WARREN MOSLER (2010)

OVERVIEW

Seven Deadly Innocent Frauds of Economic Policy

  1. The government must raise funds through taxation or borrowing in order to spend. In other words, government spending is limited by its ability to tax or borrow.
  2. With government deficits, we are leaving our debt burden to our children.
  3. Government budget deficits take away savings.
  4. Social Security is broken.
  5. The trade deficit is an unsustainable imbalance that takes away jobs and output.
  6. We need savings to provide the funds for investment.
  7. It’s a bad thing that higher deficits today mean higher taxes tomorrow.

Read More

A Selection of Articles on a New View of Money and WHY it Matters | Modern Money Theory

Introduction to an Alternative History of Money Author(s): L. Randall Wray Download: Working Paper No. 717 http://www.levyinstitute.org/publications/introduction-to-an-alternative-history-of-money This paper integrates the various strands of an alternative, heterodox view on the origins of money and the development of the modern financial system in a manner that is consistent with the findings of historians and anthropologists. As… Read More

Getting the Bigger Picture: From Life-Disabling Neoliberal Traps to Life-Enabling Opening Up of Public Policy Fiscal Spaces

James K Galbraith Reviews Modern Monetary Theory Nov 2, 2017 Some sage advice from an elder at the First International Convention of Modern Monetary Theory 2017 Presidential Lecture Series: Stephanie Kelton – “But How Will We Pay for It? Making Public Money Work for Us” Oct 18, 2018 Our nation’s finances are a blistering topic.… Read More