Modern Money & Public Purpose

Description

This seminar series introduces a new economic narrative, in which societies use their monetary systems in a democratic way to achieve full employment and promote public purpose.

Rationale

The global economy has recently experienced a series of catastrophic and destabilizing events, including the Global Financial Crisis, the Eurozone Crisis, the Debt-Ceiling Crisis and the ongoing Great Recession. Today, nations around the world continue to suffer from stagnant growth and historically high unemployment rates, despite healthy profit growth in the financial sector and wealthiest echelons of society. The failure of orthodox economics to adequately predict and explain these crises, as well as the inadequacy of existing policy responses across the political spectrum, from traditional Keynesian “pump-priming” to harsh fiscal austerity, underscore the need for a new economic paradigm grounded in legal and operational realities and the human needs of a 21st-century economy.

Year: 
2012 to 2013