(i) EZKERRA: aldatu ala hil

Bill Mitchell-ek dioenez, The demise of the Left:

“… the Left has abandoned progressive policy positions and, increasingly, moved towards a neo-liberal stance in macroeconomic policy, which has left them without a meaningful agenda...”

Hortaz?

Borrokak segitzen du

(ii) NO EURO

Costas Lapavitsas – III Forum Internazionale No Euro¹

(iii) Randy Wray, Pavlina Tcherneva eta Warren Mosler

Pavlina R Tcherneva ‏@ptcherneva

“Without Warren… there would be no Modern Money Theory.” A brief history of #MMT by Randy Wray http://neweconomicperspectives.org/2016/09/gathered-remarks-made-13th-international-post-keynesian-conference.html … @wbmosler

2016 ira. 22

(Gogoratu ondoko hau: Randall Wray-k DTM-ren historia)

(iv) ITALIA

Italy Is The EU’s Weakest Link²

“… Italy’s Crisis Is Worsening

Italy’s economy is weak. There is no growth. The banking system is in bad shape. Unemployment is high. There is substantial public unrest, and Renzi’s standing is weakening. Italy has been somewhere between recession and stagnation since 2008. After eight years, the situation shows no signs of improving.

The Italians want to run a substantial budget deficit to stimulate the economy. The EU operates under a “stability pact.” This requires countries to keep deficits within certain limits but allows for exceptions.

France has operated outside the boundaries of the stability pact for years. Spain and Portugal were given exceptions as well. As Merkel put it, “The stability pact has a lot of flexibility, which we have to apply in a smart way.”

I’m not sure what “a smart way” looks like, but the issue does not apply to Italy. Renzi said, “Italy’s deficit has been at the lowest level of the last ten years.” He said that he “would go ahead with structural reforms and deficit reductions for the good of [Italy’s] children.”

In other words, Renzi said that he would further tighten spending. (…)

Renzi’s Motives

Increased austerity has not worked in eight years. Accepting that Renzi is not insane, it is hard to understand why he thinks this move will work any time soon. (…)

Nationalism in Italy Is on the Rise

In either case, the budget will be extremely unpopular and impose several more years of austerity. It will generate an exit movement, with proponents arguing that EU-imposed austerity caused these problems in the first place. The faster they get out of the EU the better.

For all I know, maverick Renzi lives, and he is doing this to trigger this movement. But whether or not he favors leaving the EU, there will be a movement as a result of this budget.

The argument for staying in the EU will be that Italy can’t get better without the EU. The argument for leaving the union will be that Italy will never get better if it stays.(…)”

(v) Native American people: Cherokee Nation

The Other Side of Me³

“… I am a Native American – Cherokee, to be specific. (…)

What’s wrong with reservations? Gee, I dunno – what’s wrong with malnutrition, unacceptable infant mortality rates, poverty, alcohol, gambling and drug abuse? Apparently, nothing is wrong with such a thing to the US government. Now, some people will point out that tribes have direct control over the rez and policies like putting in casinos and such, but I don’t look at the micro nonsense that tells me jack squat about the real problem. I look at the macro and when I do, I see human beings left to suffer and die needlessly. Tribes, like any other entity in the non-government sector, use US Dollars as a currency. If they do not, then explain the casinos please, because unless the slot machines spit out wampum or gold dust, I have a problem with your “Listen here, tribal governments are in charge, buddy” argument.

(…) the US government alone is the currency issuer, it is clear that the US government both creates the problem on reservations and it is the only entity that can eliminate the problem on reservations, which it accomplishes through net spending. In other words, Congress has to finally realize that Native Americans are both Americans and human beings, (…). It is clear that building hospitals, schools, roads, sewer, water treatment plants, electricity and other infrastructure projects on reservations are not impossible for the US as long as those resources can be accessed (purchased) with US Dollars.

Employment is needed here badly, precisely because tribes are users of the government’s currency. Because a monetary economy exists, there is unemployment. That reality extends to Native American tribes whether tribal government’s are in charge of things on the “rez” or not. Tribal government’s are no different than any local government in this context. They require dollars to function properly and if they do not have enough, then conditions will quickly become undesirable. Studies show that the effects of long-term unemployment are alcohol and drug abuse, mental and physical illness, a rise in crime rates and social collapse. Look at many of these reservations and then tell me what you see. Exactly that. By deficit spending for full employment and the dignity of Native Americans on reservations, jobs at decent wages will be created, building infrastructure and so, prosperity will be guaranteed from the tribal use of that infrastructure. And like any other local government does, tribal government’s engage in maintaining commerce with private entities. (…)

If Native Americans have dollars to spend, business will be drawn to it like flies. In conjunction with proper fiscal policy that targets full employment and the public purpose for the entire US, this in turn guarantees permanent, decent-paying jobs for Native Americans while allowing them to preserve their culture. It does not require the erasure of Native American governance nor does it require forced assimilation into American culture in order to achieve prosperity. Look at the Cherokee Nation as an example. Native American governance and culture can remain quite intact and yet, there can be human dignity and prosperity. (…)

(vi) JOB GUARANTEE: Mosler eta Mitchell

MMT: A Job Guarantee Would Set An Effective Minimum Wage⁴

“Warren Mosler and Bill Mitchell discussing the minimum wage impact of a Job Guarantee policy. A Job Guarantee would set a true minimum wage: any person working a job at less than the JG wage could quit and join the program, pushing those wages up. A similar effect could happen with benefits. This would help to reduce income inequality, by setting a positive wage floor, since the current wage floor is zero for unemployed people.”

(vii) SUBIRANOTASUN EKONOMIKOA

Nathan Becker ‏@netbacker ⁵

So what exactly is the definition of being economically sovereign?

2016 ira. 22

(viii) Mariana Mazzucato

(a) New Times: Mariana Mazzucato on why it’s time for progressives to rethink capitalism⁶

“A progressive economic agenda must have at its heart an understanding of wealth creation as a collective process. Yes, businesses are wealth creators, but they do not create wealth alone. Workers, public institutions and civil organisations are also wealth creators. Their collective actions can increase the investments required to drive long-run growth and productivity. But this will happen only if the private and public sectors find a way to share the risks and rewards of the 21st century.”

(b) A real industrial revolution⁷

“Smart growth requires smart government and this requires building capacity and capabilities within public institutions. The current trend of outsourcing government capacity and privatising government assets must be rethought, free from ideology. Creating mission-driven public institutions, where it is an honour for the most talented to work, is a first step in reversing the brain drain and the dismantling of the state.”

(ix) FINANTZA SEKTOREA

Seth D. Michaels ‏@sethdmichaels⁸

this is an excellent piece by @AlanaSemuels: http://www.theatlantic.com/business/archive/2016/09/fairfield-county/501215/ …