Category: Added Content

Clarity: Inflation – Labor Shortages – Michael Moore -Steven Hail – Stephanie Kelton

#GlobalMMT Modern Money Lab

An Inflated Sense of Inflation (w/ Stephanie Kelton) #Labor Shortages
— Episode 220: Rumble w/ Michael Moore (@MMFlint) Stephanie Kelton (@StephanieKelton) (01:04:00)

Steven Hail’s Nov 1, 2021 Twitter thread begins:
“Inflation is not in itself some terrible disease which we have to minimize or eliminate.
It is not like Covid, needing to be stamped out. It is not like involuntary unemployment, underemployment and insecure employment, which are genuinely social evils.” Read more.

Health Care & Public Health: Fadhel Kaboub & Wendell Potter

Menu change: Medicare for All, under Nice Things We Can Have, is now Health Care & Public Health. Joining health care (personal/micro) to public health (public/macro) in policy conversations expands the space for creating sustainable solutions that improve individual well being and free resources for society wide improvement, including pandemic response. I’ll be watching for more on this perspective.

Today’s addition, added to Fadhel Kaboub and Health Care & Public Health renamed from “Medicare for All”


The Economics of Healthcare |
— Peter Hager (@Vote4Pedro2018) & Jen Perelman (@JENFL23) talk with Fadhel Kaboub (@FadhelKaboub) & Wendell Potter (@WendellPotter) JENerational Change July 24, 2021 (54:09)

Even more in Provisioning & Prosperity

Seemed more accurate to title this page Macroeconomics: Provisioning & Properity

How to Implement True, Full Employment
— L. Randall Wray New Economic Perspectives Aug 12, 2009

Biden Can Go Bigger and Not ‘Pay for It’ the Old Way • By focusing on how much revenue they hope to raise from tax increases on the well-off, Democrats risk limiting the scope of their ambitions.
— Stephanie Kelton (@StephanieKelton) New York Times (@NYTimes) April 7, 2021

Commentary & Controversy

Doubtless I’ve missed more than a few, but the growth in commentary from MMT literate sources has grown significantly over the past decade. Consider: for 2001 through 2016, I’ve found 38 articles published in a range of media. Compare that to 158 published, sometimes with updates, between 2017 and 2020. You’ll find them on two pages: Debates and Controversies and News & Commentary

I added only four in 2021, leading me to wonder if I’m slacking off. Suggestions most welcome, here or via my Twitter feed.

Added today to Debates and Controversies: Paul Krugman Has Changed His Tune About Our “Long Run Budget Problem”
— Nathan Tankus (@NathanTankus) Crisis Notes April 15, 2021

Larry Summers versus Dodd Frank
— Nathan Tankus (@NathanTankus) Naked Capitalism Sept 11, 2013 (added 4/26)

#GlobalMMT: Monetary Policy & Sovereignty in African Nations

Two articles and a podcast added to #GlobalMMT: Commentary re Developed and Developing Nations
The CFA Franc as a Vivid Symbol of Colonial Continuities in Francophone Africa • Monetary policy in Africa has been dominated by a consensus formed in Europe and the United States. In France’s former colonies in West and Central Africa this has helped preserve the substance of empire long after its formal end.
— Ndongo Samba Sylla (@nssylla) em>Tax Justice @TaxJustice.net 1st Quarter 2021 – pg 5

Africa’s Path Towards Resilience and Sovereignty – The Real Wakanda is Within Reach • Colonialism stripped Africa of agency and confidence as well as material resources. In this article Fadhel Kaboub sets out a path towards independence and prosperity. He calls for a thorough-going rejection of the policy prescriptions offered by the former colonial powers, a renewed faith in the energy and creativity of Africa’s peoples, and a step-by-step programme to build sovereignty through the expansion of domestic production in energy, food and value added goods.
— Fadhel Kaboub @FadhelKaboub Tax Justice @TaxJustice.net 1st Quarter 2021 – pg 14

The Spectrum of Monetary Sovereignty in Developing Nations with Ndongo Samba Sylla and Fadhel Kaboub
— Macro n Cheese: Real Progressives Podcast (53:43)

Also added to Fadhel Kaboub under Primary Sources

The Role of Higher Education in Realizing a Green New Deal

In order to restore the U.S.public higher education system to a condition fit for purpose throughout the coming “Decade of the Green New Deal,” …decisive action must be taken early to rollback neoliberal reforms and restore social, economic, and environmental justice to college and university campuses, campus workers, and students.”

Performative Public Finance for Higher Education: Academic Labor and the Green New Deal, from William O. Saas, Scott Ferguson in Liminalities

Green New deal

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New Zealand

Having finally caught up with (Australian) Steven Hail’s productive relationship with Interest.co.nz editor @GarethHVaughan, I’ve added information to #GlobalMMT: Commentary re Developed & Developing Nations and created a page for Steven Hail. Linked from People Doubtless, I’ll be adding more.

Here’s the article that got my attention:
Jude Murdoch and Steven Hail argue modern monetary theory offers desperately needed clear thinking and fresh ideas for our society and our democracy
— Jude Murdoch and Steven Hail (@StevenHailAus) Interest (@interestNZ) (@interest) Nov 27, 2020 MORE

Galbraith: “tormenting central bankers is great fun”

Who’s Afraid of MMT? • It is not surprising that current and retired central bankers feel threatened by Modern Monetary Theory. With deep roots in the Keynesian tradition and a consistent commitment to achieving full employment, MMT shows that good economics and sound policy doesn’t have to be shrouded in obscurantist cant.
— James K. Galbraith, Project Syndicate (@ProSyn) Dec 23, 2020
Added to “Debates & Controversies” – still my favorite page on the site. Read from oldest (at the bottom) to newest to follow the story line.