New post! We can compensate for a payments deficit by dishoarding money (monetary liquidity), borrowing (funding liquidity), or liquidating assets (market liquidity). survivalconstraint.substack.com/p/gap-liquidity

The 5th Money View Symposium is currently taking place, starting with a very insightful and rich presentation by Perry Mehrling on "A Money View of Macroeconomics," followed by comments from Nina Eichacker and Yakov Feygin +

"Prices come from markets made by market-makers providing liquidity. And liquidity lets people meet their payment commitments to satisfy their survival constraint." survivalconstraint.substack.com/p/market-maker…

Nobody should be entitled to a job or a wage.  Not even physicists. youtu.be/shFUDPqVmTg?si…

It takes two (at least) to transact. If we want wrap our heads around money and banking, we need to learn how to think in terms of transactions. survivalconstraint.substack.com/p/transactions

It takes two (at least) to transact. If we want to wrap our heads around money and banking, we need to learn how to think in terms of transactions. survivalconstraint.substack.com/p/transactions

Banks are in the business of "monetizing" debt. survivalconstraint.substack.com/p/the-alchemy-…

The Greshm Institute's Phil Jackson delivered this talk BIEN Congress 2024 back in August. * Why Basic Income Is Cooler Than You Think "If automation is hurting people, then that has to mean that there is something wrong with the economy itself." youtu.be/8a-nLm0sjco?si…

"Centralization is natural. Money and banking connect everything. Labeling the economy as distinct public and private sectors doesn't change that. Beneath the labels, the monetary system is all one thing." survivalconstraint.substack.com/p/public-priva…

"The emergence of banking is the emergence of hierarchy." survivalconstraint.substack.com/p/banking-impl…

My review of Konings, Bailout State: doi.org/10.1017/fas.20…

The Money View Reading Group is starting a new book! Our first session on "The Empire of Value" by André Orléan (2014) is Tuesday, March 25th at 4pm EDT. ysi.ineteconomics.org/event/money-vi… Come join! Young Scholars Initiative

"Money, in its ideal platonic form, is a credit claim. Commodity monies such as gold are merely an approximation of that ideal." Perry Mehrling survivalconstraint.com/p/money-as-cre…

If your UBI isn't at the optimal level, then your economy is underperforming. The optimal level is not zero.

"As long as cash commitments are easy to meet, people will continue entering into new cash commitments. The web will grow more tangled. The dominos will get closer together. This continues right up to the point of financial crisis." survivalconstraint.com/p/the-system-i…

"Individual countries want to believe that they can control their own monetary systems, but they don't have their own monetary systems. There is one system: a global system." survivalconstraint.com/p/11-money-is-…

The Money View Reading Group is starting a new book! Our first session on Fernand Braudel's "The Wheels of Commerce" (1982) is this coming Tuesday, May 6th, at 4pm EDT. ysi.ineteconomics.org/event/money-vi… Come join! Young Scholars Initiative

Michael Lewis (Michael A. Lewis (bball name to the kids, OG)) and Eri Noguchi describe some of the benefits of UBI over "Guaranteed Income." For me, the main issue is that GI merely targets people left behind by the current economic system, while UBI actually fixes the system. rooseveltinstitute.org/blog/an-equal-…

"Everyone has their own individual balance of payments: the time pattern of locked-in cash flows and cash commitments. When money is tighter in the market as a whole, those with payments deficits drive up the money rate of interest by bidding for funds." survivalconstraint.com/p/11-the-money…

If you're serious about the environmental impact of our economy, then you should be serious about UBI.