Crusoe gets excellent advice from Friday :)

Crusoe is getting excellent advice from Friday, I plan on integrating it all, thank you. "Friday 4 hours ago User Info 1000 Castaways, Chapter 5: The Real World, System Two This is all very good. I can’t really find anything in these last four chapters worth quibbling with. I did spot one typo here: eveident … Continue reading Crusoe gets excellent advice from Friday 🙂 →

1000 Castaways, Chapter 5: The Real World, System Two

(←Chapter 4 Additional Material→) System Two The other main reason our real-world economies do not function as well as the Island is that we simply do not understand System Two, which organizes public projects and creates the vertical component of modern currency systems. The reasons for this stem from the long, complex process by … Continue reading 1000 Castaways, Chapter 5: The Real World, System Two →

1000 Castaways, Chapter 4: The Real World, System One

(←Chapter 3 Chapter 5→) Chapter 4 The Real World, System One We have seen how our Island of 1000 Castaways developed an economy that, within the potential of their technology and resources, maximizes their wellbeing. Our real-world economies are not organized so efficiently, and create countries where wellbeing is, given some set […]

1000 Castaways, Chapter 2: System Two

(←Chapter 1 Chapter 3→) Chapter 2 System Two SO FAR WE HAVE SEEN how a system can emerge naturally that functions to help individuals better coordinate the use of real resources and thus increase the private production of society overall (Chapter 1). This increases the production of real goods and services for everyone. … Continue reading 1000 Castaways, Chapter 2: System Two →

1000 CASTAWAYS: Fundamentals of Economics

UPDATE: It's Done! Live on Amazon here - 1000 CASTAWAYS: FUNDAMENTALS OF ECONOMICS is now available- Hardcover, Paperback, & Kindle at Amazon.com Hardcover, Paperback, & NOOK at Barnes & Noble Angus and Robertson (Australia), Fishpond (New Zealand shipping), Waterstones (UK), !NDIGO (Canada), India Print Edition & Amazon India, South Africa Print Edition Ebook (Epub … Continue reading 1000 CASTAWAYS: Fundamentals of Economics →

MMT & the Fourth Spark Plug: Descriptive vs. Prescriptive revisited

Imagine you are an experienced mechanic. One day your neighbour comes home with a newly purchased used car. It is running terribly – sputtering and running slowly with little power. You look under the hood. It is a four cylinder car in good condition, and you notice that one of the spark plug cables is … Continue reading MMT & the Fourth Spark Plug: Descriptive vs. Prescriptive revisited →

Decouple Spending From Bond Sales

Government bonds for funding are well understood to be an unnecessary, vestigial custom for currency-issuers.* There has been discussion of eliminating them as they serve no funding purpose. An argument in favor of eliminating bonds is that they are the foundation for the widely held yet false belief that a "national debt" limits what public … Continue reading Decouple Spending From Bond Sales →