Debt Ceiling, Job Guarantee, Inflation

Grabbing a moment to catch up:

The Case for Minting a $1tn coin to deal with America’s Debt Ceiling
— Nathan Tankus (@NathanTankus) <em>The Guardian</em> (@guardian) Oct 15, 2021

Good Forms of Collectivity: Low-Carbon Care Work and a Federal Job Guarantee

— Natan Last (@NatanLast) Los Angeles Review of Books @LAReviewofBooks April 26, 2021

Like Haiku, the limits created by Twitter offer opportunities for brevity and coherence. Here’s the first bit of Steven Hail’s admirable Nov 1, 2021 Twitter thread:
“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.

Functional Finance & The Debt Ratio

These folks have been hard at it for decades. Stephanie Kelton recently pointed to this from 2012-2013 and so I added it to Functional Finance and the Debt Ratio and the Scott Fullwiler page, just under his MMT 101: A thread in 25 parts.

“This five part series will explore at length (warning!) and in detail (another warning—wonk alert!) the MMT perspective on the debt ratio and fiscal sustainability. While the approach suggests a macroeconomic policy mix and strategies for both fiscal and monetary policies that most neoclassical economists currently believe are unsustainable, ultimately the MMT preference for a significant role for fiscal policy in macroeconomic stabilization is shown to be consistent with traditional neoclassical views on fiscal sustainability.”
• Part I • Part II • Part III • Part IVPart V

— Scott Fullwiler (@STF18) New Economic Perspectives Dec 2012 – Jan 2013