Too damn right. As in right-wing. As BillH correctly commented here, microloans are just usury. Disgusting. Yunus is a fraud who does not understand MMT, i.e., he does not understand the government's monetary system. (Just like all other mainstream economists.)
If people are willing and able to work towards a community purpose the government can always without question compensate them with a decent living wage. Governments cannot run out of their own IOU (aka. "dollars" "rupees", "yen", "peso", etc)
If people cannot or should not work then the government can always provide a basic income guarantee (not a disgusting neoliberal UBI Trojan Horse sop for the rentiers).
This is how we can eliminate poverty overnight. Any inflation as a result is a price re-gauge, and benefits the poorest --- since (a) it is a tax on hoarded wealth, and (b) in this policy regime all the inflation pressure comes from the base minimum wage, so the lag in in the proper progressive wealth gap compression direction. Euthanize the rentiers with complementary policies (huge tax on non-owner occupied housing). The State can always buy-up the vacant housing then provide state housing guarantees with decent living wages for house maintenance --- all of course up to available real resource limits.
The more people working the fewer hours any one person needs to work (for socially necessary output). We can give not only the IMF the middle finger, but the inflation bogeyman hysterics too.
The inflation scare is always the most ridiculous one. It can be controlled by many different aspects like price controls (ala Nixon), etc. there is no reason to not have full employment and the government can if it chooses to do so.
He and Summers should have been deplatformed long ago but they're Clintonworld House Experts so we have to just keep hoping they'll die and stop doing any more damage (like the rest of Clintonworld).
Thanks for this. Sorry to see US regime change is alive and well.
Too damn right. As in right-wing. As BillH correctly commented here, microloans are just usury. Disgusting. Yunus is a fraud who does not understand MMT, i.e., he does not understand the government's monetary system. (Just like all other mainstream economists.)
If people are willing and able to work towards a community purpose the government can always without question compensate them with a decent living wage. Governments cannot run out of their own IOU (aka. "dollars" "rupees", "yen", "peso", etc)
If people cannot or should not work then the government can always provide a basic income guarantee (not a disgusting neoliberal UBI Trojan Horse sop for the rentiers).
This is how we can eliminate poverty overnight. Any inflation as a result is a price re-gauge, and benefits the poorest --- since (a) it is a tax on hoarded wealth, and (b) in this policy regime all the inflation pressure comes from the base minimum wage, so the lag in in the proper progressive wealth gap compression direction. Euthanize the rentiers with complementary policies (huge tax on non-owner occupied housing). The State can always buy-up the vacant housing then provide state housing guarantees with decent living wages for house maintenance --- all of course up to available real resource limits.
The more people working the fewer hours any one person needs to work (for socially necessary output). We can give not only the IMF the middle finger, but the inflation bogeyman hysterics too.
The inflation scare is always the most ridiculous one. It can be controlled by many different aspects like price controls (ala Nixon), etc. there is no reason to not have full employment and the government can if it chooses to do so.
He and Summers should have been deplatformed long ago but they're Clintonworld House Experts so we have to just keep hoping they'll die and stop doing any more damage (like the rest of Clintonworld).
Thanks for this. Sorry to see US regime change is alive and well.
You are right. There is also the financialization of this that I have not touched in this article. But, basically, it extractivism