The following post I made to Billy Mitchell’s blog got me moderated there. It’s puzzling to me that a post that includes a compliment and a sincere attempt to look for an integration of MMT, Public Banking and Social Credit can be a basis for moderation other than the blog owner perceived a challenge to the importance and depth of his own economic and monetary viewpoint (MMT) …and simply did not want an additional viewpoint expressed and/or integration considered. 

Excellent post as always. However this statement:
“If there was accelerating inflation and high GDP growth then one might be tempted to conclude the fiscal deficit is to expansionary and needs to be cut back. One might equally conclude that private spending is too strong and needs to be cut back.” ….could be made basically irrelevant by the macro-economic policy tools of a universal dividend and a discount to retail prices to the individual (in other words everyone) that was rebated back to retailers so that they could be whole on their margins and overheads, and the system, which would also include all of the excellent insights of MMT, would fit seamlessly within profit making systems which actually served the individual instead of dominating and manipulating them….like now.

I have posted here before about these two macro policies and about the fact that retail sale to the individual is the key policy target because it is the terminal end of all costs for any item or service as well as the terminal end of the entire productive process itself. A couple of posters here declared that these policies would not stabilize or bracket the entire economy, but they gave no actual or valid reasons why they believed that to be true.

I’m not here to invalidate MMT in any way, I’m only interested in integrating it with other reform movements like Public Banking and Social Credit thinking that such integration would bring a greater clarity and hope to a mass movement whose lay, economic and political constituencies might actually get such an integrated and hence complete program actually enacted.

The following post was apparently denied/rejected:

Yes Neo-liberal DSGE theory and ideology infiltrated the thinking of nearly all economists, and politicians being notoriously ignorant, unimaginative and servile to power have lead us to where we are. I couldn’t agree with that more. But what this analysis does not include is the insight that the micro-economy itself is inherently cost inflationary and so injecting money into it whether via government spending to enterprise for infrastructure etc. or private financial means to enterprise….will re-initiate that cost inflation…instead of resolving it. The indirectness of policy (to enterprise first instead of directly to the individual) is the ultimate mental hurdle theorists on both the left and right must overcome.

The right needs to ask itself whether it values capital ideology and power more than individual freedom and systemic free flowingness, and the left needs to ask itself whether it values socialist ideology and power more than individual freedom and systemic free flowingness. There is a third way.

Direct monetary Gifting to the individual (and back to enterprise after they have gifted the consumer with a retail discount) resolves the problem of cost inflation and of ideologies on both the left and right.