Last week, the Modern Monetary Theory Podcast ran part 1 of my interview with co-host Christian Reilly; they've just published the second and final half of our chat (MP3), where we talk about the link between corruption and monopoly, how to pitch monetary theory to people who want to abolish money altogether, and how stories shape the future. Read the rest
I've been following the Modern Monetary Theory debate for about 18 months, and I'm largely a convert: governments spend money into existence and tax it out of existence, and government deficit spending is only inflationary if it's bidding against the private sector for goods or services, which means that the government could guarantee every unemployed person a job (say, working on the Green New Deal), and which also means that every unemployed person and every unfilled social services role is a political choice, not an economic necessity. Read the rest
Mary Annaise Heglar of the Natural Resources Defense Council is tired of her friends confessing their environmental sins to her, like using disposable containers; as she points out, climate change is a systemic problem, not an individual one, and the Ayn-Rand-ish framing of all problems as having individual causes with individual solutions is sheer victim blaming. Read the rest
John Delaney (a finance friendly millionaire) wants to be the Democratic presidential candidate in 2020, and he thinks he knows how to win: "Medicare for all may sound good but it's actually not good policy nor is it good politics." It's an idea so unpopular with California Democrats that it attracted a full minute of heartfelt boos when he assayed it last weekend. Read the rest
Paolo Bacigalupi's (previously) A Full Life is a new short story in MIT Technology Review that traces the hard young life of Rue, whose family has to move and move again as climate disasters destroy the places they try to make their homes: the water for their ecologically sound farm dries up, then Austin becomes unlivable when heatwaves spike rolling blackouts, then Miami is washed off the map by a string of floods that overwhelm the levees built to "American standards" that were cooked by US oil lobbyists, and then life in New York comes to an end when a global financial crisis wipes out the last family member with any money -- an uncle who was an investment banker who ends up losing all the money he made shorting Miami when the crash comes. Read the rest
In her latest detailed policy proposal, would-be 2020 Democratic presidential nominee Elizabeth Warren sets out a Green New Deal for the US military, whose own policy analysts have identified climate change and energy independence as serious risks to US security. Read the rest
The Intercept has just released "A Message From the Future," a short science fiction movie narrated by Alexandria Ocasio-Cortez and drawn by Molly Crabapple, describing the coming "Green New Deal Decade," when Americans pulled together and found prosperity, stability, solidarity and full employment through a massive, nationwide effort to refit the country to be resilient to climate shocks and stem the tide of global climate change. Read the rest
After Congresswoman Alexandria Ocasio-Cortez delivered a blistering rebuttal to Rep Sean Duffy's [R-WI] charge that the Green New Deal and environmentalism were "elitist" concerns that ignored the needs of rural people, Congressional Coal Caucus member Rep. Andy Barr [R-KY] invited her to visit Appalachian coal-towns and "go underground" to talk to people in the mining industry. Read the rest
AOC's two minute speech in response to Rep Sean Duffy's [R-WI] characterization of environmental concerns as a matter for coastal elites is inspired and heartfelt, and entirely on point: the people at greatest risk from environmental degradation are the poorest and most vulnerable in society, and moreover Duffy -- a wealthy lawyer and TV commentator -- has no business lecturing AOC (a working class New Yorker who was working in a taco joint a year ago and got her first-ever health insurance plan when she was elected to Congress) on what is and isn't of concern to working people. Read the rest
Oh, sure, the Democratic leadership says it takes climate change seriously, but that same leadership has sidelined the Green New Deal and gutted the climate committee, replacing it with a lame-duck committee led and staffed by beneficiaries of big energy sector dollars. Read the rest
