Category Future Society

A recurring theme of the blog concerns the enhanced social possibilities opened up by ‘sovereign currency’ – also called ‘modern money’ – by which is meant fiat money issued by sovereign government. The social possibilities opened up by sovereign currency…

Improvements in productivity make it possible to produce more with a given employment of labor. However, under capitalism, whether this greater potential is fulfilled is contingent on there being sufficient effective demand to sustain the higher potential output. Any deficiency…

When a society succumbs to the delusion that a currency-issuing government can somehow run out of what it alone creates at will – i.e. the currency – the provision of health care, education, infrastructure, and other key goods and services…

Modern Monetary Theory (MMT) implies some interesting connections between money, taxes, social cooperation, freedom and different economic systems. In particular, it brings to light some of the social possibilities open to societies with sovereign currencies.