Asociación Para el Pleno Empleo y la Estabilidad de Precios (APEEP), or Association for Full Employment and Price Stability in Spanish, is a non-profit organization that is devoted to raising awareness and disseminating Modern Monetary Theory amongst the Spanish public. APEEP believes that full employment and price stability are compatible if public policy is conducted within an MMT framework. The current economic crisis within the Eurozone highlights the need for a Postkeynesian and MMT approach to public policy.Personally, I think MMT needs to find some new leadership: people who are more charismatic and can advance the movement. I don't mean to throw cold water, but you need charismatic leaders who can get media attention and get a popular movement going.
In an effort to bring MMT into the political debate in Spain, they will be hosting Warren Mosler for his presentation of the Spanish translation of his book “The Seven Deadly Innocent Frauds of Economic Policy” during a one-week tour through Spain, starting with a presentation in Madrid, on the 14th of September; Valencia on the 15th of September; and Vila-real on the 17th of September. They have previously hosted Randall Wray and will next be Hosting Bill Mitchell.
Here's the link for the events including time/date/location
- 14th September Madrid: http://apeep-tmm.tumblr.com/image/128253931730
- 15th September Valencia: http://apeep-tmm.tumblr.com/image/128506178765
- 17th September VilaReal http://apeep-tmm.tumblr.com/image/128264249520
Here's the press release for the events containing more details:
http://apeep-tmm.tumblr.com/post/128328711245/press-release-mosler-spain-tour-september-2015
Friday, September 11, 2015
Rise of MMT in Spain.
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7 comments:
I think Ignacio is in Spain....
Yeah, I'll try to go to one of the presentations.
Pretty cool watching initiatives like this, the question is if there will be anyone with power listening... The government is all about 'balancing the budget' (although deficit has actually increased, but since there was some GDP growth it has been said today that the overall public debt has dropped a bit last quarter), austerity, raising taxes, etc. etc. etc.
I know R.Wray talked with the head of 'Izquierda Unida' a few months ago, don't know how that went, but in any case they are not even a contending party...
Perhaps MMT will have problems explaining its insights in Spain because the country is not monetarily sovereign. It is like a U.S. state, really constrained in its spending by the amount of taxes it can raise and the money it can borrow from markets.
A suggestion: let Mosler and Wray come to Brazil, a currency issuer currently undergoing an absurd austerity for fear of the rating agencies and of "running out of money". MMT and functional finance are really what is needed to help the country overcome its severe recession.
"the question is if there will be anyone with power listening"
Short answer - no. They are already listening to the Krugman types and their web of influence who tell them that they can do all these wonderful things without leaving the Euro.
It looks to me like there is another cycle of debt induced failure required before there is any chance of the 'jiggling interest rates' ideas falling out of favour.
The problem now is that the defunct economist you're up against is Keynes himself.
Is Warren not charismatic enough?
If MMT had the backing of multinational media corporations, with a massive public relations drive. Mike, Warren, Bill and Randy could look like hollywood filmstars. Not that Mike doesn't already!
Jeremy Corbryn is about as charismatic as my ironing board, but he has become the figurehead of ideals getting more traction with the population.
If MMT knowledge reaches tipping point charisma is unimportant. Charisma is needed to get the population to drink the kool aid.
Need charisma and gravitas.
"The problem now is that the defunct economist you're up against is Keynes himself."
Boss mode.
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