Daily Archives: January 20, 2020


[ed. This was part Randy’s Talk at ICAPE.]

By L. Randall Wray

First I’ll clearly state what MMT is and then outline four paths that lead to MMT’s conclusions: history, logic, theory and practice.

What is MMT? It provides an analysis of fiscal and monetary policy that is applicable to national governments with sovereign currencies.

There are four requirements that identify a sovereign currency: the national government

a) chooses a money of account;

b) imposes obligations (taxes, fees, fines, tribute, tithes) in the money of account;

c) issues a currency denominated in the money of account, and accepts hat currency in payment; and

d) if the National government issues other obligations, these are also payable in the national government’s own currency.

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21st Century Machiavellians 1.1: Elites View the Democratic Party as a Containment Vessel for Popular Discontent

(This is a 3-part essay divided here into a total of 4 installments, with the first part divided into two)

Michael Hoexter, Ph.D.

The on-again, off-again political war now being waged inside and around the Democratic Party between a new generation of progressives and the Democratic Party Establishment requires a new or expanded lens to help understand what is going on.  This quite intense “war” of varying intensities is being waged in an era when simultaneously the Democrats represent the only established political vehicle within the United States to unseat the monstrous Trump Administration and the Republican Party that backs them.  Perversely, it seems, the Democratic Establishment has tried and continues to try, at almost every turn, to suppress enthusiasm for ideals and policies as well as the representatives that most nearly embody those policies and ideals that would be its own political energy source, the basis for Democratic political identity.

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