Monday, 25 June 2018
The following is a statement, or extract from a certain site which hosts a "paper," or presentation on Transfinancial Economics
''......It should be said too that MMT seems to be gaining some traction notably among the American progressives. It can be summed up in one sentence. Essentially, it believes that government should create new money to fund public expenditure, and taxation itself is only used as a means of controlling inflation. This is a good idea. One recommends it as a good start in the development towards a more Non-Debt Based Economic System. On a downside note, the degree of inflation taxation within the MMT concept could possibly become increasingly greater over time, and hence, lead a grave social, economic, and political situation... when the tax debt could become "too heavy". However, the big advantage of MMT has over TFE in its Advanced Stage is that it would require time to set up, but the amount of new money it could create, and safely phase in would ultimately be far greater than MMT. The reason for this is that it would be possible to gradually increase the levels of growth and potential inflation in such a way as to retain the value of the currency (This is explained later in the text). Such a process can only be successfully achievable if the economy can be monitored, and controlled in Real-Time, or near Real-Time. Furthermore, taxation itself could be phased out altogether as a means of controlling inflation, and only used in an emergency situation.''
For further explanation please go to the link below. TFE can also be seen as the most advanced, and most "scientific" system in Economics yet to be fully developed.
R.Searle the Blogger, and Originator of TFE
Thursday, 14 June 2018
I had an impromptu debate with Warren Mosler, the founder and still one of the leading figures of "Modern Monetary Theory" recently. We disagreed on the role of trade deficits, and this has led another MMT luminary, Bill Mitchell, to write two commentaries critiquing my position (see "Trade and external finance mysteries – Part 1" and "Trade and finance mysteries – Part 2".
This is my partial reply to Mitchell—there are more issues that I want to take up when I have time to do so....Patreon
Some Preliminary Questions for MMT
Steve Keen | Professor and Head Of School Of Economics, History & Politics, Kingston University, London
Blogger Ref https://wiki.p2pfoundation.net/Transfinancial_Economics
The only way to get a far more advanced understanding of Macroeconomics is to trace it in Real-Time via supercomputers, and indeed, qua...
From Wikipilipinas: The Hip 'n Free Philippine Encyclopedia/Blogger Ref http://www.p2pfoundation.net/Transfinancial_Economics ...
Draft October 22, 2006 More updated material is available in the Presentation Melanie Swan firstname.lastname@example.org...
In the future, and indeed, in economics itself information, and complexity, and how to deal with it will become vital. However, such kno...