Posted To RWER Blog 03/01/2019

Yes, MMT focuses too much on public debt, yes, loanable funds is fallacious for the umpteenth time, yes, Marx said more in vol. 3 and yes, the problem involves money, debt and the monopoly paradigm enjoyed by the private banking system.

And looking where no one else is looking, that is, the actual economic process and day to day operations of the economy, deciphering the monetary and economic significances to be found at the point of retail sale and then crafting a direct and reciprocal monetary and price policy there….changes everything.

It’s way too simple for the non-looking erudite, but the actual operations of historical paradigms have always been simple, elegant and profoundly significant because they resolve long standing problems of current orthodoxies.

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