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Money in another light
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John Gelles
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Nov 02, 2009 20:28 PST
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I have several sites going that attempt to explain how all nations
capable of producing stock for sale, that will serve its intended
purpose and satisfy customers able to shop and chose, has the means to
spend money it creates without associated debt as its backing.
The money will be backed by a desire to save it and confidence that it
will be able to buy the stock for sale above.
This principles of functional finance, that is close to a dozen other
versions of Keynes, Lerner, Major Douglas, Lincoln's greenbacks, FDR's
central bank support of wartime spending, etc., covers the theoretical
origins of such explanation. In my view, Mathew Forstater has presented
this material in its most effective form--and I have copied his texts
from Levy working paper 272 and other writing, to most of my sites.
Now is the time to shake up the American establishment in the White
House so that they will find the money necessary to finance immediate
full employment and rational leadership to see that global trade does
not fail as it did in the 20th Century--as the center fell apart and
more than 50 million people were slaughtered for lack of understanding
that endless material riches wanted to be produced to invite our animal
spirits to use a little common sense.
One of my thoughts is that Mathew Forstater might see some merit in a
wiki of sorts to do for economic intelligence some of what Wikipedia has
done for people in search of facts.
My current approach suggests a network (or umbrella) of voluntarily
linked sites that carry their own text trying to sell the Second Bill of
Rights and how to pay for it:
* without taxes or restructuring the socio-economic scene by
anything more than guaranteeing full employment at a very decent income
and minimum standard of living,
* all paid for with enough money based on wealth (inventories of
very well made necessities with services to match,) replacing some or
all money based on debt (deposits of the proceeds of a bank loan).
I recently listened to James Galbraith on (possibly) CNN's GPS with
Fareed Zakaria. He, as well as the team in the White House, steer clear
of suggesting we can raise the height of the safety net very high,
educate the nation, repair the roads and bridges, support an army of
doctors and nurses, end carbon in our fuel, etc., WITHOUT taxing the
rich at all.
After all, some of the rich want to endow the best things people do.
And, if we want to prevent unconscionable conspicuous consumption we can
prevent scarce materials and labor from diversion from more important
projects decent people chose to do instead.
The following link I hope will work to explain more of the above:
http://www.ustaxreform.us/links-list.htm
On this list, the "reversible money pump" and "user friendly money" are
the latest--and perhaps the closest to my present desire to see jobs and
money where we need them.
There are future generations who need us to spend now. This can never
leave them in debt for more than their elected lawmakers allow.
But it can leave them enriched by real assets, systems and beliefs, to
overcome 5000 years of thinking money was only of the heavy kind that
takes up space.
Mathew Forstater and our late friend Abba Lerner want us to see money in
another light: money as a motivator has the power to put us to work and
to learn to cooperate more and compete in ways that are not
counter-productive.
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