After two years of research, and writing, and more research, and more writing, Andrew Jackson and Ben Dyson have completed the book ‘Modernising Money’, which documents, in more detail than ever before, exactly how we could fix the monetary system for the benefit of business, society, and the environment. These proposals offer one of the few hopes of escaping from our current dysfunctional monetary system. And today, the book is available on sale.Positive Money
New book ‘Modernising Money’ is out now
4 comments:
While I can see a certain logic in the idea of separating bank from state, I'm beginning to see that this type of monetary reform is going at it from the wrong side. The problem isn't so much that banks create money, but that there is an artificial scarcity due to rent and reduced public spending that induces people to go into debt for basic needs like housing and education. Generally, we need more public spending and to change the way we deal with housing. Stephen Zarlenga's infrastructure fund is a good idea as is MMT's JG. Do a debt jubilee of some sort and institute LVT. Regulate banks with a stringency of the order we now apply to gambling casinos. And do something about the rent seeking machines that American universities have become.
"And do something about the rent seeking machines that American universities have become."
Here in the US since 2010 all student loans are directly from the federal govt.... can the govt be a "rent seeker"? Or are they getting a certain cohort of education seekers in the non-govt to sign up for additional taxes?
But David I agree in any case that the finance of the education system here is screwed up.... rsp,
I'm not sure how to take the positive money crew. They have a few good ideas, but this obsession with central bank liabilities being the One True Money clouds the view.
The latest video starts to drift into propaganda for example. Apparently banks never pay out dividends.
And all that leads to some serious blindspots in the way that the banking system works, and therefore the best way to keep them under control.
Here in the US since 2010 all student loans are directly from the federal govt.... can the govt be a "rent seeker"?
No, not exactly, Matt. I think the gov. taking over the loan program is a step in the right direction. What I would say is that the loan and grant in aid, etc., serve to subsidized rent seeking. Much like with housing, the young people are beginning to be priced out, even with the subsidies. The American University system was founded on a government land give away that made a few men really rich. Henry George cut his teeth on the land issue by invesigating the abuses of one J. Leland Stanford in California. My son is currently attending a public university and I see many layers of rent seeking; privatizations of what is supposed to be a commons. Textbook prices are criminal, the library caters to Elseviers and Jstors of the the world. Fees are charged for little test scan thingies, and required for what reason? The teachers are mostly insecure part timers who are afraid to challenge their students, lest they scare them away. If the increases in costs were going to the profs that would be one thing, but I know that they are not.
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