The Most Adaptive Time & Cost for Adding Required Liquidity is "Now" and "Zero?"

commentary by Roger Erickson

The Natural Rate of Interest Is Zero

Forstate & Mosler forcefully argue here for what should have been obvious decades ago.

I think that Maxwell, Darwin, Boltzman, Planck, Eccles and Lerner would all agree with this sensible view. As would current educators such as Vandergriff and Haskins. Instead of ignoring return on coordination and our future options by restricting liquidity, and wasting so much time arguing over entirely fiat currency operations, shouldn't we be optimizing our National Options operations? Just set some insanely great national goals, so we can have insane amounts of fun tilting at them.  Given consensus goals, fiat currency operations should be nothing more than the Automatic Stabilizer approach to national liquidity that Marriner Eccles set up back in the 1930s.

The [Full] Employment Act of 1946: Some [1986] History Notes

We're still seeking OpenSource prosperity?

(hat tip to Eric Tymoigne, Lewis & Clark U)

It's amazing to read that, in 1946, we came this close to declaring full employment as a national directive, a requirement "to provide such volume of Federal investment and expenditure as may be needed [to maintain continuing full employment]."

Restated, we could easily revisit this and make it part of Public Purpose to permanently "Denominate, via direct Treasury Contracting, such volume of Public Initiative as may be needed to fully utilize our existing citizenry in exploring our constantly expanding National Options."