http://neweconomicperspectives.org/2018/08/miscalculating-medicare-for-all.html
J. D. Alt is an architect. He designs the plan that will become a physical structure. That structure will prove itself to be structurally sound, efficient and as elegant as the art of the designer can make it. All of those things will be tested and proved in use. It is like designing an aircraft. The test of design excellence is the proven ability to fly and fly extremely well because it was designed extremely well in conformance with the natural laws of govern the the structure of physical things.
Conceptual systems are not physical things but must be designed based on foundations that comply with the rules of the conceptual system. Get the rules wrong, because they are designed by idiots of special interest benefit rather than logic, reason and common sense to benefit the common good and the resulting system architectural design will be a function of the foundation rules.
J. D. Alt gets the nature of our Conceptual Monetary System right. What is right about it is that the general public perception of how it works is all wrong. Just like the common intuitive perception of the sun circulating the earth was all wrong. Seemed like a good idea at the time but not one that would get us into space exploration.
Why is it so hard in a technological Information Age of complex conceptual design to understand the working of the legacy Monetary and Economic System.
J. D. Alt is saying the earth is round not flat.
There are too many Flat Earthers that are benefitting from this foundational view of money and economics. It benefits them to perpetuate ignorance for self serving objectives.
Architects design from the ground up! From a solid ground foundation upon which equally solid design rules are applied and tested in operation
Maybe the Debt Based Monetary System is a good design. I believe that a Debt Free Monetary System would be better but maybe the design rule is ya gotta dance with the one that brought you to the party or the one you married. There is an alternative but maybe the best compromise is to understand the true conceptual nature of the foundation of the existing relationship and adjust it to a mutual understanding of the participants.
Short of changing horses to the Trillion Dollar Coin, and idea I am sure J. D. would go for, we must understand the current nature of the beast that we are riding and where we want it to take us. It is not a self driving horse unless we let it get out of control or is driven by some agenda at the reigns other than the best common good.
Give J. D. the job of designing the National Monetary System Architect and he would remodel our conceptual understanding of the horse we are on or.....even better deign us a new and better one based on a Debt Free Monetary System.
Maybe J. D. should be Secretary of Economic Education.
Bttr Way gets it right on the comment:
"And until MMT scholars and proponents realize that this is how many wealthy elites see MMT understandings, as a stepping stone to the diminishing or even eliminating their wealth and power, they will not begin to think about better strategic methods to advance their ideas and causes."
What is the conceptual foundation of the current monetary/economic system?
You got to Pay!.....? Maybe that is it. The whole system is based on "You got to pay" You just pay! or parsing simply: You Pay. That of course is only a complete SubjectNoun/Verb/ObjectNoun because the ObjectNoun is understood without saying it.
The full sentence foundation for the Economic System?:
You Pay Me
That frames the system from the viewpoint of the receiver of the action the beneficiary of the action but it works for each party in the transaction. Workers point of view is: You pay me for my work. The entity that pays for work point of view is: You pay me for the product of your work..plus some profit.
Wage rate is relatively fixed.
Profit and profit incentives of management of work effort are relatively variable. But on the other hand there is risk involved that when undertaken should be compensated accordingly in a home of profit gain and loss.
At the foundation of the conceptual system is:
You pay me for the use of my money in a debt based monetary system.
My money to give to you in exchange for your promise go pay (penalty if no pay) is relatively unlimited. Therefore housing bust.
You must pay or else.
A new glimmer of hope to turn the thinking about paying and the Monetary System.
http://neweconomicperspectives.org/2018/08/alexandria-on-the-daily-show-the-moral-economy-and-modern-money.html
MMT is talking to Bernie.....her too?
Ah....but that is socialism and everybody knows that Socialism is based on a different system: You do not have to pay! It is all free!
At least that is the framing that those who benefit the most from the you must pay me system prefer.
Who should benefit the most from the Monetary and Economic System?
Fair Share just high be a test of how well the design flies in the Real World.
No comments:
Post a Comment