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New Economic Perspectives

Two-Cent Message

By J.D. ALT Elizabeth Warren has succeeded, I think, in framing an argument as close as anyone is going to get (in the present election cycle) to the progressive position of MMT. Warren acknowledges that she’s proposing goals and undertakings that will “cost” a lot of money. She further acknowledges that everyone asks: “How are you going to pay for it?” And she gives a very specific and simple answer: an “ultra-millionaire tax”—which she details as “two-cents on every dollar of income...

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Democrats Should Refuse to Continue to Support Stupidity and Cowardice

William K. BlackSeptember 15, 2019      Kansas City, MO A craven group of Democrats is furious with Beto O’Rourke for calling for the mandatory sale of assault rifles to the United States.  Reuters’ headline says it all:  “O’Rourke’s ‘hell yes’ vow to take away rifles worries U.S. lawmakers pushing for gun limits.”  Seriously?  Democratic lawmakers (who have adopted no meaningful federal law in response to tens of thousands of gun deaths and maiming) are upset because a prominent...

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Awakening the Investor-in-Whole-Society

By J.D. ALT There’s a lot of handwringing now about how central banks have no ammunition to fight a recession. The fact that this is apparently true—and, perhaps, uniquely true in modern history—is all the more reason to explore MMT’s premise that central banks are not just instruments of private commerce, but are, as well, instruments of collective, democratic will. The bankers are in a box of their own making, but that box, in fact, is inside another box which, as MMT makes clear, has...

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Is it Cynical to Believe the System is Corrupt?

While a new poll shows most US citizens believe the political and economic system is rigged against them, Senators Bernie Sanders and Elizabeth Warren also echo this sentiment. Some conservatives are now pushing back. But what says the evidence? NEP’s Bill Black appears on The Real News Network and analyzes the situation. You can view here with a transcript. [embedded content]

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Rigged System Apologists and Deniers Fear Senators Warren and Sanders

William K. Black August 26, 2019     Kansas City, MO Greg Weiner has written an article aimed at those he hates – progressive Democrats.  He entitled it “The Shallow Cynicism of ‘Everything is Rigged.’” Weiner wrote, in the midst of the most corrupt administration in U.S. history, not to attack President Trump, but instead to attack Senators Warren and Sanders.  Their sin?  They oppose corruption.  Worse, they view corruption as immoral, they ‘walk the walk’ by refusing to take...

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Why Moscow Mitch needs MMT

By J.D. ALT Mitch McConnell is desperate to find investment funds and businesses that will create jobs for his Kentucky constituents. America, it seems, is mostly incapable of being a source for either. Such is the diminishment of our impoverished private enterprise system that only foreign companies seem interested in bringing U.S. dollars to America to build the factories that will employ us. America, for example, has not built an aluminum rolling mill in over forty years. It must be...

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A Modern Money Explanation

By J.D. ALT Since the Democrat’s presidential debates, the attacks on progressive candidates for their “unrealistic” proposals to address the biggest challenges we face as a collective society have intensified dramatically. The primary criticism is the enormous price-tag associated with each of the big-ticket issues they propose to undertake: universal healthcare, mitigating climate-change, eliminating college debt, free pre-school daycare, re-envisioning and rebuilding America’s...

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