Modern Money & Public Purpose

2012 — 2013



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.


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


The Historical Evolution of Money and Debt

Governments Are Not Households

Design Defects and Policy Failures

Debt, Deficits or Unemployment

Money, Democracy and the Constitution

Independence or Marriage?

Rent-seeking, Instability and Fraud

Guaranteed Income or Employment