There does seem to be an artificial scarcity and systemic shortage of money because credit is allocated on the basis of interest-bearing debt. Total aggregate debt (including principal and interest) is more than the total amount of money in existence. This keeps us in a collective state of perpetual debt, and debt grows exponentially due to compound interest. All of this certainly seems to contribute to the extraction of value and concentration of wealth.
Perhaps short-term interest-free credit should be allocated for productive purposes.
There’s two money creations processes: the federal government and commercial banks. The federal can and does build national capacity and programs through its funding mechanism. The idea that we can’t have national support programs is patently false: healthcare, education, even private sector stimulus all guided by people’s interests are fundable. This knowledge has been gatekept and is actually what has been used to create our wealth gap. I’m trying to advocate that the people should demand basic services and the economy’s capacity should be oriented towards our safety and security: and we can afford it.
It may seem as if you're a voice in the wind until the wind changes direction & carries your voice. Things can change suddenly, as we're witnessing. When the possibility for new thinking arrives, it'll be invaluable to have your analysis already available as a meaningful solution.
Great piece, and one of many pushing the stone ball uphill. I really don't think that writing about this stuff is going to make one iota of difference. There's no public voice. No politician wants to grapple with the issue even if they recognise its validity because there are no votes in it and they would be thought of as crazy. Orthodox economics has been the most successful propaganda piece in history, the argument of last resort that works all the time. Maybe people are just dumb, but I dont get how even sharp, radical thinkers just dont see it
I wish I could come up with a path to follow, but I can't, so in the meantime, I suppose, let's just keep pushing at it with articles like this.
Yes, I call it the greatest fraud perpetrated against humanity. I figure if no one reads anything I write it’s the same as if I didn’t write anything at all. So might as well write and post. It is Sisyphusian though. Thanks for the comment!
There does seem to be an artificial scarcity and systemic shortage of money because credit is allocated on the basis of interest-bearing debt. Total aggregate debt (including principal and interest) is more than the total amount of money in existence. This keeps us in a collective state of perpetual debt, and debt grows exponentially due to compound interest. All of this certainly seems to contribute to the extraction of value and concentration of wealth.
Perhaps short-term interest-free credit should be allocated for productive purposes.
There’s two money creations processes: the federal government and commercial banks. The federal can and does build national capacity and programs through its funding mechanism. The idea that we can’t have national support programs is patently false: healthcare, education, even private sector stimulus all guided by people’s interests are fundable. This knowledge has been gatekept and is actually what has been used to create our wealth gap. I’m trying to advocate that the people should demand basic services and the economy’s capacity should be oriented towards our safety and security: and we can afford it.
It may seem as if you're a voice in the wind until the wind changes direction & carries your voice. Things can change suddenly, as we're witnessing. When the possibility for new thinking arrives, it'll be invaluable to have your analysis already available as a meaningful solution.
🙏 thank you. I saved this as a screenshot. I really hope we can all find a way to work together to implement the changes we want.
It's all about opening the Overton Window. If people don't hear it, they can't think about it.
💯% that’s my mission. Thanks I added it to my bio.
Your title is misspelled
I never noticed that! Thanks I'll go fix it now. I hope you enjoyed it.
I thought it was great!
Thank you!
Great piece, and one of many pushing the stone ball uphill. I really don't think that writing about this stuff is going to make one iota of difference. There's no public voice. No politician wants to grapple with the issue even if they recognise its validity because there are no votes in it and they would be thought of as crazy. Orthodox economics has been the most successful propaganda piece in history, the argument of last resort that works all the time. Maybe people are just dumb, but I dont get how even sharp, radical thinkers just dont see it
I wish I could come up with a path to follow, but I can't, so in the meantime, I suppose, let's just keep pushing at it with articles like this.
Yes, I call it the greatest fraud perpetrated against humanity. I figure if no one reads anything I write it’s the same as if I didn’t write anything at all. So might as well write and post. It is Sisyphusian though. Thanks for the comment!
Maybe you’ll enjoy this post too?
https://chevan.substack.com/p/economics-is-not-a-science?r=33jv1