Job guarantee programmes: back to the future?

Following Peter May’s mention in his blog of the 8th January of Dr Fadhel Kaboub and Modern Monetary Theory (MMT), and his advocacy of proposals for job guarantee initiatives, I happened to spot a link to a presentation by Dr Kaboub in a TRUK blog (http://www.taxresearch.org.uk/Blog/2018/05/05/the-case-for-a-job-guarantee-in-the-uk/). The presentation is worth watching in full, not least… Read more

Suggested requirements for a properly functioning Monetary system based on MMT in the UK

It is interesting that Fadhel Kaboub, Associate Professor of Economics at Denison University, and president of the Global Institute for Sustainable Prosperity, who is a great Modern Monetary Theory ‘MMT’ (Charles Adams’ summary here) and Job Guarantee Advocate, seems to be rather opposed to the Warren Mosler and Bill Mitchell idea that exports are like a… Read more

From ‘Moneta Positiva’ towards Electronic Parallel Money and an Italian budget solution

It is interesting that Italy has its own Moneta Positiva where debt free money seems to be the call to arms. I generally consider that money is always debt, since all money is a ‘promise to pay the bearer on demand the sum of’, which indicates an obligation – and therefore indebtedness. They are clearly… Read more

A recipe for reviving European growth …

In a recent FT article (intermittent paywall), that Luigi Di Maio, Italy’s Five Star party, deputy prime minister, states that, Rome’s controversial spending plans will become “a recipe” for reviving European growth and that the continent is ready to abandon austerity and embrace the deficit-busting approach of US president Donald Trump. Current US growth at… Read more

Positive Money and MMT (continued)

I have been reading Positive Money (PoMo)’s most recent comments on Modern Monetary Theory (MMT), whose latest New York conference they attended. I’m worried that they appear to have returned from that conference with a rather confused set of views. They suggest that: “There is a significant difference between money issued as debt by commercial banks,… Read more