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Study Stack
AFJM Coffee House

Informal OPEN MIKE Discussion Forum

 

This AFJM Coffee House was an informal 'open mike' gathering to pose questions, share insights and make connections. Many ideas and sources were mentioned and this study stack is an effort to categorize the issues addressed.

The recording of this coffee house is here.


Modern Monetary Theory (MMT)

The very first question got us in the controversial territory of MMT, an emerging economic theory hotly debated in academia as well as in political circles, especially in the monetary reform movement, where it is sometimes submitted to blistering critiques, but also adopted by some as a theoretical framework.

The discussion started with a reference to:

Event: Public Money and Racial Justice. Organized by Haymarket Books. "A conversation about public money, its connections to racial justice and how we can organize to demand it serves our interests". Rev. Delman Coates of Our Money was part of the panel.

Web site: Our Money. Organization founded by Rev. Delman Coates. "Our Money is building a movement to assert our public say over money creation by promoting reforms that ensure that money is created in ways that are more aligned with the public interest'. The theoretical orientation of Our Money is MMT.


Critiques of MMT

 Huber, Joseph. 2019. “Modern Money Theory Revisited: Still the Same False Promise “. Sovereign Money: Website for New Currency Theory and Monetary Reform, March 2019.

AFJM. 2020. "Money and Banking: Assessing Overlaps and Differences between SMR and MMT". Alliance For Just Money, 23 May 2020.

AFJM. 2020. “What’s Wrong with Modern Money Theory?”: A Summary. Alliance For Just Money, 5 Oct 2020.

AFJM. 2020. "Triple-column Comparison between Modern Monetary Theory (MMT), the Actual Monetary System, and Sovereign Money Reform (SMR). Alliance For Just Money, 21 Sept 2020.

AFJM. 2020. "Requesting Evidence for a Crucial MMT Claim". Alliance For Just Money, 16 August 2020. 

Eder, Jeff. 2020. "The Deficit Myth and Modern Monetary Theory Revised: The Canadian Version". Review of The Deficit Myth by Stephanie Kelton. Progressive Money, Canada.


Defenses of MMT

Murphy, Richard. 2020. "How Money is Created and Inflation Controlled". Brave New Europe, 13 Dec 2020. See also Paul Lebow's comment.

Stephanie Kelton. The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy. New York: Hachette. (See also Jeff Eder's review)

Web site: The Modern Money Network. Founded by Rohan Grey. "The Modern Money Network (“MMN”) aims to bring accurate and accessible knowledge of monetary and financial systems to the broader public".


More on MMT

For more, see the section "Discussions on Modern Monetary Theory (MMT)" on the AFJM Bibliography category "Studies Critical of Monetary Theory and Reform (and responses) & MMT Discussion".


Facebook's Libra

Huber, Joseph. 2019. "Facebook's Libra Project of a Global Digital Currency. An Assessment". Sovereign Money: Website for New Currency Theory and Monetary Reform.

On Money: The Libra versus Sovereignty. Alliance For Just Money, 28 July 2019.

Bursztynsky , Jessica . 2020. "Facebook-backed Libra Association has been renamed Diem". CNBC, 1 Dec 2020.


The Great Reset

A complex policy proposal coming from the World Economic Forum, self-assessed as compassionate capitalism, but derided as globalism's fig leaf by the left, and suspected as part of the New World Order conspiracy by the right.

World Economic Forum. 2020. "The Great Reset". WEF.

Klein, Naomi. 2020. "The Great Reset Conspiracy Smoothie". The Intercept, 8 Dec 2020.

Goodman, Jack; Carmichael, Flora. 2020. "The coronavirus pandemic 'great reset' theory and a false vaccine claim debunked". BBC News, 22 Nov 2020.

Wiki entry: Great Reset


 

Dr. Frans Verhagen Activities

Verhagen, Frans C. 2012. The Tierra Solution: Resolving Climate Change Through Monetary Transformation. New York: Cosimo Books. (Amazon)

Verhagen, Frans C. 2012. "The Tierra Solution: An overview of the new book". Green Money, 22 Dec 2012.

Conference: UN Climate Change Conference - UK 2021. 1-12 November 2021. "The COP26 summit will bring parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change".

Yergin, Daniel. 2020. The New Map: Energy, Climate, and the Clash of Nations. London & New York; Penguin. (Amazon)

Panel: AFJM Panel - Carolina Meadows. A recent panel discussion held at the Carolina Meadows community, Chapel Hill, NC hosted by Frans Verhagen. The three panelists are Alliance board members, Paul Lebow, Howard Switzer and John Howell.

Op-Ed for the New York Times: Verhagen, Frans. 2020. "Two Monetary Proposals for the Biden Administration". Op-ed article submitted to the New York Times on November 23, 2020. [Forthcoming]


Dutch Report on Monetarty Reform

WRR. 2019. Money and Debt: The Public Role of Banks – Summary of WRR Report. The Hague: Netherlands Scientific Council for Government Policy.

AFJM. 2019. "Ons Geld and the Road to the WRR Report". Alliance For Just Money, 8 Mar 2019.

AFJM. 2019. "Dutch Report on Money and Debt and its Reception by Ons Geld". Alliance For Just Money, 8 Mar 2019.

IMMR. 2019. “Dutch WRR Report on Money and Debt is out“. International Movement for Monetary Reform. 1 Feb 2019.


Central Bank Digital Currency (CBDC)

Article: Dettmer, Otto. 2020. "Will central-bank digital currencies break the banking system?" The Economist, 5 Dec 2020.

Articles on CBDC from the monetary reform movement:

Huber, Joseph. 2018. “Monetary Reform Light: Sovereign digital currency coexisting with bankmoney”. Sovereign Money: Website for New Currency Theory and Monetary Reform, Jan 2018.

Huber, Joseph. 2018. "Digital Currency (DC): Retaining or Overcoming the Bankmoney Regime? Design principles that make the difference". Sovereign Money: Website for New Currency Theory and Monetary Reform, Oct 2018.

Bjerg, Ole. 2017. “Designing New Money: The Policy Trilemma of Central Bank Digital Currency.” Copenhagen Business School. Working Paper, June 2017.

Dyson, Ben & Graham Hodgson. 2016. “Digital Cash: Why Central Banks Should Start Issuing Electronic Money”. London: Positive Money.

Picchioni, Costanza. 2020. “Lessons From Libra: The Future Of Digital Currency“. The Money Question, 10 Feb 2020.

Orrrefur, Samuel K. et al (Eds.). 2019. “The Future of Money: Central Bank Digital Currency and Beyond“. Conference videos. Stockholm: Positiva Pengar. 15 June 2019.

Wortmann, Edgar. 2020. "The Politics of Safe Money".


Dr. Bruce Woll Recommendations

Andreotti, Vanessa de Oliveira. 2011. "(Towards) decoloniality and diversality in global citizenship education". Globalisation, Societies and Education, 9/3-4: 381-397.

Robin, Vicki (host). 2020. Vanessa Andreotti (guest). What Could Possibly Go Right? (program). The Post-Carbon Institute, 17 Nov 2020.

Lynn, Barry C. 2005. End of the Line: The Rise and Coming Fall of the Global Corporation. Currency. (Amazon)

Lynn, Barry C. 2009. Cornered: The New Monopoly Capitalism and the Economics of Destruction. John Wiley & Sons, 2009. (Amazon)

Lynn, Barry C. 2020. Liberty from All Masters: The New American Autocracy vs. the Will of the People. New York: St. Martin's Press. (Amazon)

Raworth, Kate. 2017. Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist. White River Junction, VT: Chelsea Green Publishing. (Amazon)

Raworth, Kate. 2014. Why it's time for 'Doughnut Economics'. TEDxAthens, 16 Dec 2014.

Raworth, Kate. 2017. 1. Change the Goal - 1/7 Doughnut Economics. Doughnut Economics Action Lab, 2 April 2017.


Public Banking

Brown, Ellen Hodgson. 2007. The Web of Debt: The Shocking Truth about Our Money System and How We Can Break Free. Baton Rouge, LA: Third Millennium Press. (Amazon)

Brown, Ellen Hodgson. 2013. The Public Bank Solution: From Austerity to Prosperity. Baton Rouge, LA: The Third Millennium Press. (Amazon)

 Brown, Ellen Hodgson. 2019. Banking on the People: Democratizing Money in the Digital Age. Washington, DC: Democracy Collaborative. (Amazon)

Walton, Jamie. 2010. “Review of Ellen Brown’s The Web of Debt”. Valatie, NY: American Monetary Institute.


Miscellaneous

On using crowds to assess inflation: Surowiecki, James. 2005. The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations. New York: Anchor. (Amazon; Review)

On formulas for international MR: Young, Mark. 2012. How to Fix the Future: Using Cooperative Economics. Publisher: Author. (Amazon)

Campaign: The Stampede: Money Out - Voters In. Stamp and track a dollar bill. "Money in politics and barriers to voring are two sides of the same coin - or dollar bill - they both deny the voice of the people".

Switzer, Howard. 2019 "Creating Money". YouTube, 6 Feb 2019. See at 23m45s for why the 3-prong is integral.


 

Forthcoming:

AFJM Coffee House, Monday, January 25
At 8 pm ET / 7 pm CT via Zoom
With the Policy Position Team

In an attempt to increase our social media presence, the Policy Position Team will present three short slideshows on which they welcome feedback. The subjects will be a) introduction to monetary reform, b) the relationship between taxation and monetary reform, and c) social justice and monetary reform.

The introductory slideshow culled and transformed information from AFJM’s website so that it is easy to comprehend. The taxation part will address the idea that under a sovereign monetary system, the role of taxes will change significantly, because most government spending will use government-created money and therefore the dependence on taxes to fund public programs will be greatly diminished. The slides on social justice will explore how monetary reform can provide solutions to various social justice issues that affect different under-served communities.

These slideshows are a glimpse into a larger social media campaign AFJM is working on.

Invitation to preregister will come in due course.

 
This Study Stack is also be available
in the AFJM Archive
 
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AFJM is an organizational member of the 
 International Movement for Monetary Reform 


 
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