Politics of Choice
All matters pertaining to beginning and end of human life.
In this post I'll list the primary components of the MMT Knowledge Claim Network (KCN) classified under the major categories: the Social/Value Gaps; the Knowledge Gaps (Problems); the Descriptive Components (including Solutions); the Policy Prescriptions; and the Narratives.
The Social/Value Gaps mentioned by MMT developers
-- Failure of Economics to contribute to the Public Purpose as defined by the failure to close the other social value gaps listed below;
-- the gap between actual output and projected “full” output;
-- High involuntary unemployment vs. full employment;
Warren Mosler kindly replied to my Part Two of this series which provided the basis for this dialogue, reproducing Part Two with comments by Warren and myself.
MMT and Public Purpose:The Normative Component Read more about The Job Guarantee and the MMT Core: Part Seven, Dialogue With Warren Mosler
Salon.com's news editor, Steve Kornacki, lamented yesterday that "Obama won’t face a credible primary challenge", going on about how the closest thing to a liberal challenge he has comes from Republican candidate Buddy Roemer. While it is true that many liberals aren't seeing any "viable" candidates materialize on the left, Kornacki isn't telling us why that is: the failure of supposedly liberal pundits to report on candidates who are actually running. Read more about The Obama Primary Challenge That Is
Ohio voters last night voted overwhelmingly against both Republican and Democrat corporate-favoring policies in a referendum. Senate Bill 5, passed by the Republican-dominated legislature and signed into law by Republican governor John Kasich, was shot down by sixty-one percent, too large a margin for the GOP to rig the vote count in its favor. Read more about Ohio Voters Reject Senate Bill 5, Obamacare; Mississippi Defeats Anti-Abortion Amendment
WASHINGTON (AP) -- The jobs crisis has left so many people out of work for so long that most of America's unemployed are no longer receiving unemployment benefits.
Early last year, 75 percent were receiving checks. The figure is now 48 percent - a shift that points to a growing crisis of long-term unemployment. Nearly one-third of America's 14 million unemployed have had no job for a year or more.
On the Open Salon version of my previous entry, some right-winger who supports Obama kept trying to lay the blame for next year's results on the left for failing to properly support the candidate who has done far more to pass the Republicans' agenda than any GOP office-holder could have.
Read more about Obamabots On the Attack
(X-posted with permission of the author and New Economic Perspectives)
(Editor's note:I think this is the definitive post on how proof platinum coin seigniorage relates to inflation. So, I've now stickied it!) Read more about Scott Fullwiler: Coin Seigniorage and Inflation
(Editor's Note: This post is being re-published with the permission of the author, Scott Fullwiler)
Cullen Roche’s excellent post at Pragmatic Capitalism explains—via comments from frequent MMT commentator Beowulf and several previous posts by fellow MMT blogger Joe Firestone (see the links at the end of Cullen’s post and also here)—that the debt ceiling debate could be ended right now given that the US Constitution bestows upon the US Treasury the authority to mint coins. Further, this simple change would lift the veil on how current monetary operations work and thereby demonstrate clearly that a currency-issuing government under flexible exchange rates cannot be forced into default against its will and is not beholden to “vigilante” bond markets. As Beowulf explains in a later comment, “The anomaly it addresses is that the US Govt has a debt limit yet an agency of the US Govt (the Federal Reserve) does not have a debt limit. Clearly this is a structural defect.”
The following is a description of how the process would work and the implications for monetary operations: Read more about Scott Fullwiler: QE3, Treasury Style—Go Around, Not Over the Debt Ceiling Limit
An Antemdius entry uses a quote from Franklin Delano Roosevelt, who said in his speech announcing the Second New Deal in 1936: Read more about FDR: "Government by organized money is just as dangerous as Government by organized mob."
My last entry at FDL, which is the last because I've been banned, has been restored to visibility. As I pointed out in my previous entry, my account and diaries were flagged as spam and hidden from view. Read more about FDL Update: Entries Restored, Comments Still Disappeared
The responses to my previous entry were exactly what I hoped they would be: lively. And I'm not done yet, not by a long shot. I'm going to expand upon a comment I made in the other thread. Read more about On the Immorality of Supporting an Amoral Dictator