Category Archives: J. D. Alt

A Walk in the Forest after the Election

By J.D. ALT

On November 8, I happened to be complacently immersed in one of the important books now available to the human species—The Hidden Life of Trees, by Peter Wohlleben.  On the morning of November 9, I realized that what I was reading not only offered a perfectly analogous explanation of what “happened” in the U.S. Presidential election, but also laid out instructive insights about what’s to come next.

To provide a highly simplified overview (please bear with me for a moment), forests of trees are highly integrated communities composed basically of three parts: the canopy, the ground, and the root-and-fungi structures below ground. The community grows and evolves very slowly, and once it is established certain inherent dynamics provide a long-term stability that is measured in centuries. One of the most crucial dynamics is the fact that the mature canopy, during the growing season, absorbs something like 97% of the sunlight falling on it. This means at the ground level, new trees—growing from the seeds dropped from above—receive essentially no sunlight for photosynthesis (which they need in order to produce sugars for growth). These baby trees are, in fact, “nursed” by the root systems of the parent trees around them. The nursing trees grow very slowly, biding their time until one of the parent trees dies and collapses. This leaves a gap in the canopy where sunlight suddenly streams through, and those baby trees fortuitously located below the gap begin to produce their own sugar like mad—and grow very rapidly upward toward adolescence. At the same time, in a healthy forest, the mature trees adjacent to the gap extend their own branches and leaves to fill the open space. Before this process is complete, the adolescent trees have several years of rapid growth, but when the canopy is re-closed, they have to stop and bide their time again. Once more, they are fed by the root systems of the parental forest. It isn’t until another parent collapses to the forest floor, that the late adolescent tree finally has the opportunity to rapidly grow into the gap of the canopy and become a mature member of the community.

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JD Alt Interviewed on “The Millennials’ Money”

Monday, 17 October, on the weekly progressive radio program Hopping Mad with Will McLeod and Arliss Bunny, JD Alt was interviewed about his book The Millennials’ Money. The broadcast version of the interview, which aired on Netroots Radio at 8AM Eastern on Monday, 17 October, was twenty-two minutes long. The podcast version of the interview is about twice that. The podcast is available on iTunes, Stitcher, Google Play and on the Hopping Mad website.

JD’s book was previewed here, on NEP, in sections as he was going through the writing process and many NEP contributors participated in comment threads which influenced aspects of the book. If you have not read it in its entirety, The Millennials’ Money is quite worthwhile in that it not only brings JD’s excellent diagrams, from his best-selling ebook Diagrams & Dollars, to a hardcopy format covering the basics of MMT but then goes beyond that with some genuinely interesting thinking on how the millennial (fourth turning) generation can best use MMT to solve some of the immense challenges they face.

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Two Loaves

By J.D. ALT

Recently, I’ve been trying to zero in on a peculiar set of ingredients that seem to be baked into our economic pie―and which are depriving that pie of a sustenance we, as a collective society, need it to provide. The peculiar ingredients have to do with our monetary system. Specifically, the fact that we―whether intentionally or by happenstance―have put in place and operate a money system that seamlessly creates dollars, as necessary, for profit-making enterprise, but specifically does NOT create dollars for not-for-profit ventures.

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CROWDSOURCING the COLLECTIVE “WE”

By J.D. ALT

Let’s jump ahead to the day (surely it will come, right?) when we realize a general consensus has actually been established that, yes, it IS possible to sustainably pay for collective goods and services by the direct issuing of sovereign fiat dollars―that our federal government doesn’t have to collect taxes in order to have dollars to spend, that it doesn’t have to issue Treasury bonds to get the dollars it needs but imagines it doesn’t have.

Now that we’re here in this future moment, it’s clear we have an even BIGGER problem than we had before!

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The Charade

By J.D. ALT

My last essay, “A Perfect Example,” elicited six thoughtful and compelling questions from a reader with the moniker “MadcapMongoose.” They deserve an equally thoughtful response, which I’ve been trying to formulate, off and on, these past many weeks. Each formulation I come up with, however, seems to be missing a larger and deeper issue that I keep getting glimpses of. So, with apologizes to Mongoose, instead of answering him (or her) directly, I’m going to try to mine the topic obliquely to see if I can get at that deeper vein.

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A Perfect Example

By J.D. Alt

Recent news reports lament the on-going collapse of America’s coal industry―specifically the spectacular loss of jobs which is devastating not only families but entire local economies and communities. On a PBS news report, a woman who’d worked for a local mining company for thirty years teared up and asked the reporter, “What in the world am I going to do?” At a recent event sponsored by Wyoming Public Radio, attendees were asked to fill out 5X7 cards with suggestions about how to answer that question—how to replace the lost coal industry jobs. Under the banner “How to Diversify Wyoming,” the cards were pinned on a bulletin board for everyone to see and discuss. The suggestions ranged from eco-tourism to pot-growing to space-flight support―all good, healthy, creative ideas, (with the possible exception, I think, of space-flight). What suddenly jumped out at me, however―like a jack-in-the-box on a spring―is that implicit in every suggestion written on those 5X7 cards lies a huge, overpowering, built-in assumption about the way the world has to work:

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Video

By J.D. Alt

I spent the last couple days reading and contemplating “Political Aspects of Full Employment”, the transcript of a lecture―given in 1942!!―to the Marshall Society by economist Michal Kalecki. This was recommended to me by Nat Uerlich in his May 2 comment to my post “False Choice or Real Possibilities.” Many thanks to Mr. Uerlich for taking the time to make the comment. I urgently recommend Professor Kalecki’s lecture to anyone who feels a little fuzzy (as I have lately been feeling myself) about what we are up against as a collective society as we now confront, once again, how collective society itself is structured to inexorably be its own worst enemy.

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Over-Arching Perspective

By J.D. ALT

I’m attracted to “big picture” vistas that put the day’s momentary developments into what at least feels like a meaningful perspective. It helps me to imagine things are more manageable than they otherwise seem to be. In reading my daily news (currently The Washington Post), I’m always on the lookout for at least two articles that fit together somehow to create a glimpse of this over-arching view. Today (Friday, 6 May) I got what feels like a pretty good peek.

First is an article about the EPA’s twenty-five year struggle to define and implement rules and regulations about lead in America’s water supply. Basically, the efforts have focused on requiring municipalities to test their water for lead on a regular basis―and then implement some kind of remediation if the lead-levels test too high. The problem lies in the complex relationship between the testing and the remediation: Testing must occur at the tap, not at the supply, because lead contamination occurs in the old, lead pipe-connections which the water, pure as it may be when it starts out, must pass through to get to the tap. The corrosiveness of the water, which is controlled by many factors and chemicals, determines how much lead is picked up along its journey through the lead-infested pipes. If the tap water tests too high, municipalities must implement a complex calculation of how to reduce the water’s corrosiveness.

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False Choice or Real Possibilities

By J.D. ALT

The essential ploy in politics is to give people a false choice. For dinner tonight, you can have fried potatoes—which are what I am serving—or you can have watered-down potato gruel, which is what my opponent is serving. Never mind that, if we take time to look, the larder is actually stocked with tomatoes, corn, zucchini, string-beans, hams and pork bellies.

The political false choice is usually quite subtle, and invariably involves whether you want to be taxed or not. The example I continuously stumble upon is Barak Obama’s 2015 State-of-the-Union proposal for universal child-care in America. However eloquently he may have framed it, the choice President Obama eventually gave was this: pre-school child-care for every American family paid for by the federal government—coupled with a new tax on cigarettes—OR hit-and-miss pre-school child-care paid for by private welfare, struggling individual families, and desperate single moms. Never mind looking in the larder to see if there are unemployed resources in America which—without raising additional taxes—could not only provide the child-care services, but could be employed to do so, thereby contributing not only to the gross domestic product and aggregate demand for Main Street businesses, but to the well-being and success of our nation’s school-children. But instead of looking in the larder to see what was possible, we were given Obama’s false choice.

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The Millennials’ Money is Published

By J.D. Alt

jd1I’m pleased to announce the book The Millennials’ Money is now available. Many of its parts were first vetted here at NEP, and readers’ comments and suggestions were extremely helpful in finalizing the text. There is a nice endorsement on the back cover by Stephanie Kelton. A deeply felt thank you to NEP and all of its readers! The book is structured in three sections:

The introduction, “The Ideology of Money Scarcity—a Brief History,” is an overview of how, after 1971, the U.S. found itself using a modern fiat money system but continued thinking and behaving as if U.S. dollars, like gold, were a scarce commodity.

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