Recommending the book Diagrams & Dollars

I recently read a book I recommend.

See: https://www.goodreads.com/review/show/938224606

Although this short book is little more than an essay, it rocked my world, turned my thinking upside down, and caused me to question several basic economic assumptions I have held for a long time.

Could student loans be offered interest free? Can the national debt grow without limits or consequences? Can we eliminate taxes? Can the Federal Government readily provide each of us with a generous citizen’s dividend? Could we end poverty with a few pen strokes? Is this all too good to be true?

Enjoy an hour reading this short, clearly written, and thought provoking Introduction to Modern Money Theory and decide for yourself if there is any hope for the ideas it presents.

 

The Story of Debt

As long as we continue to create money as interest bearing debt, we have little choice but to accept bankruptcy as inevitable, or continue to grow the economy without limit.

See: https://www.youtube.com/watch?v=EccvUYsNiYQ

Many of the grand challenges we face today are symptoms of this underlying cause. Enough people need to understand this to allow our politicians to speak out against economic growth.

How can we make this message more understandable and actionable?

Ordinal Language may undermine climate change deniers’ efforts.

While 97% of climate scientists concur on the causes and dangers of climate change, merely mentioning “uncertainty” often allow deniers to rally their following. Recent research suggests that using language that links increased risk to uncertainty can help orient people to the real dangers of climate change.

See: http://www.salon.com/2014/04/19/why_climate_deniers_are_winning_the_twisted_psychology_that_overwhelms_scientific_consensus/

The Cost of Violence Containment

The Institute for Economics and Peace has published a recent report “The Cost of Violence Containment.”  After defining violence containment spending as “economic activity related to the consequences or prevention of violence where the violence is directed against people or property” they calculate the global cost at $9.46 trillion. The report goes on to state: “The old idea of war being good for the economy has been thoroughly debunked and the economic benefits of encouraging peace are increasingly being recognised.”

Pursuing Collective Wisdom

I am pleased to announce availability of a new on-line course titled “Pursuing Collective Wisdom”.

This is the newest offering in the Wikiversity Applied Wisdom curriculum, and is freely available to anyone with an Internet connection.

The course builds on the previously published “Collective Wisdom Index Alpha” and incorporates improvements suggested by many helpful GC member comments on that earlier effort.