Apparently, the latest from the Modern Monetary Theory (MMT) attack squad (the squads that are forming to attack MMT) is that MMT sets up “strawman” targets which it calls mainstream economics and in doing so fails to address what mainstream economists actually think and advocate.
This is becoming a repeating theme among those who seek to challenge the statements we are making. It is a good sign – a sign that the mainstream is recognising that an increasing number of people are seeing through the fictions that the economics profession has been trading on for years.
Apparently, the latest from the Modern Monetary Theory (MMT) attack squad (the squads that are forming to attack MMT) is that MMT sets up “strawman” targets which it calls mainstream economics and in doing so fails to address what mainstream economists actually think and advocate.
This is becoming a repeating theme among those who seek to challenge the statements we are making. It is a good sign – a sign that the mainstream is recognising that an increasing number of people are seeing through the fictions that the economics profession has been trading on for years.Bill Mitchell — billy blog
Progressive narrative should be human focused and uncompromising
Bill Mitchell
In his little primer, Randall Wray talks about the public purpose. It is, he suggests, an ill defined concept, but I take it as progressive. We have at our disposal the means to improve the lot of mankind. Too many of the mainstream shrink away in deathly fear of deficts and inflation. So we go year on year with over twenty million looking for work and no one, no one, does anything about it. In fact the best advice the smart guys in economic suits have is to tell us we need to cut our way out of our "problem". We need to avoid insolvency.
ReplyDeleteThey can't find the problem. So, in the meantime, some people live on the street or under them without food or health care. Crime? Not to worry, more police.
Some nice comments by Dan over there...
ReplyDeleteimo libertarians of the left should start to self-examine their libertarian pov and seemingly blind allegiences to the political left in regards as to whether those are holding them back from supporting a progressive policy agenda...
Progressive policy implementation requires positive action by human beings not more "freedom" or whatever... libertarianism will get you nowhere...
This battle needs to be fought right along the "y-axis" of the political compass not along the "x-axis" in the lower 2 quadrants... they are fighting in the wrong battleground...
both the political left (Obama: "we're out of money") and the political right (Romney: "we're borrowing from the Chinese") are blind to the the authority of the positions that they work so hard to obtain... this is the main problem... the present leadership of both the mainstream left and right are libertarian and made powerless by their embrace of this reversion to primitive philosophy that seeks to wipe out any view of authority...
the current problem is one of libertarianism vs authoritarianism..... both political sides of our present govt have no view of authority: the result is the chaos that we see.
rsp,
In his little primer, Randall Wray talks about the public purpose. It is, he suggests, an ill defined concept, but I take it as progressive.
ReplyDeleteJohn Kenneth Galbraith wrote a book entitled, Economics and The Public Purpose, so I don't see how the concept can be ill-defined, considering that JKG was one of the premier economic thinkers of the last century. I would say, rather, unrecognized by the mainstream and indeed, marginalized.
What exactly do you mean by "the public purpose". I consider it a garbage concept intended to confuse and bamboozle "the public".
ReplyDeleteWhat exactly do you mean by "the public purpose". I consider it a garbage concept intended to confuse and bamboozle "the public".
ReplyDelete"We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America."
The US federal government is established for public purpose, which is generally specified in the preamble. State constitution generally follow this format.
The governments of democracies and democratic republics are oriented to public purpose. The nature and extent of that purpose is determined institutionally by the laws and culturally by the prevailing mindset. Therefore, the conception of public purpose differs among jurisdictions and changes over time within a jurisdiction. This is reflected in public policy.
Hmmm. Still can't define "public purpose", eh? It seems to me that it can and has been used to both defend slavery and to free the slaves. As I said, it's a garbage term beloved by scoundrels.
ReplyDeleteProgressive policy implementation requires positive action by human beings
ReplyDeleteExactly. Progressive policy implementation requires VIOLENCE and the THREAT OF VIOLENCE, ultimately imposed by a SWAT team against a non-compliant victim.
It’s the opposite of "freedom" or whatever as libertarianism will get you free of such violence.
http://original.antiwar.com/justin/2013/02/17/kosovos-unhappy-anniversary/
Or maybe you have difficulty with reading comprehension. The Preamble is quite clear to me and most other people.
ReplyDeleteBob, You define non-violence as "violence".
ReplyDeleteYou're the sort of person who voluntarily joins a club, and then complains about having to pay the club fees because that's "violence".
Public purpose - definition
ReplyDeleteA governmental action or direction that purports to benefit the populace as a whole.
Webster's New World Law Dictionary Copyright © 2010 by Wiley Publishing, Inc., Hoboken, New Jersey.
source
Public purpose - definition....
ReplyDelete...A governmental action or direction that purports to benefit the populace as a whole.
Tom further explained what public purpose generally encapsulates very clearly and succinctly:
"The nature and extent of that purpose is determined institutionally by the laws and culturally by the prevailing mindset. Therefore, the conception of public purpose differs among jurisdictions and changes over time within a jurisdiction. This is reflected in public policy."
Most of the more contentious aspects of the evolving public purpose tend to be transient, or at least malleable, over time, and said transiency is also part of the pubic purpose, which is a good thing indeed. The degree and scope of the public purpose can ebb and flow over time. In other words there's built in flexibility in our polity. I'm not sure we'll ever arrive at the proverbial sweet spot in balancing the public and private domains which order our existence, but in the long pull I'm hopeful at least for peaceful compromise.
Bob's come up with some peculiar comments. But this latest one deserves a special commendation.
ReplyDeleteBob,
ReplyDeleteHumane incarceration or exile is not violence ....
Rsp