Real Progressives is always progressing. Here’s what’s new for us lately and what we’re working on.
Pavlina Tcherneva, the queen of the Job Guarantee, is an old friend of Real Progressives. Her long-awaited book makes the case that unemployment is neither necessary nor inevitable but is a political choice. The federal government can and should create quality jobs for all who want them. Buy The Case for a Job Guarantee HERE.
An idea being floated in the Illinois legislature could help track, and reduce, the potential spread of Covid-19 as restaurants begin to reopen in the state. By employing “contact tracing’ measures, restaurants would “sound the alarm” and communicate with patrons in confirmed exposure situations, to avoid spreading the virus to the most vulnerable in the community.
Under The Hood
This month we’ve begun premiering Bill Mitchell’s MMTed episodes on our social media platforms. We’ve also been testing out various webinar platforms including Livestorm, Crowdcast, and Zoom to determine which one works best for us. Cole Ford and John Siener have been working on getting Studio 6 up and running.
MMT is the cornerstone of the Real Progressives movement. As such it is imperative that the concepts are clearly explained and defended.
Critics have trouble with the Modern Monetary Theory claim that the Federal Government already finances itself through money creation. Nathan Tankus explains brilliantly (as always) in this piece from his Substack blog, Notes on the Crises
“Seigniorage” is an old word for an old practice, but the USA can use it in a new way for our modern world. Our mint can issue a platinum coin in any denomination it chooses and then transfer it to the Fed. This is not only a good idea in its own right but also a good way to prove the reality of MMT to the public. Greg Roest explains in this thought-provoking piece.
It is good to finally see MMT making waves out there, thanks in large part to Stephanie Kelton’s new book, The Deficit Myth. This piece is from NewRepublic and offers a great overview of MMT for beginners.
Real Progressives’ Writers Corner
“Propaganda is information, especially of a biased or misleading nature, used to promote or publicize a particular political cause or point of view.” The political cable news networks blatantly use this tactic. Mainstream media has weaponized propaganda to control us and divide us. It is designed to keep people from thinking for themselves.
POEM: The violence and inequality suffered by our black and brown comrades has brought artists from all mediums out into the open to express their anger and frustration. Poem by Nancy Kaufman, recorded reading by Elle Beah.
Real Progressives’ Media Library
In case you missed them, we wanted to make sure you saw these four excellent podcasts and an excellent video.
VIDEO: Professor Fadhel Kaboub presents a detailed summation of Modern Monetary Theory (MMT), and explains why we need to be “radicals;” we do not have time for superficial, status quo fixes. As MLK said, there’s no time for “the tranquilizing drug of incrementalism.” This video describes all aspects of MMT, policy prescriptions, community currency, and answers attendees’ questions in the webinar from June 29, 2020.
PODCAST: Steve Grumbine interviews The Funky Academic, activist/podcaster Irami Osei-Frimpong, to discuss a plethora of pressing issues: racism, police brutality, reparations, canna-business, economic insecurity, and the indisputable necessity of a Federal Job Guarantee. There is also some interesting discourse on the need for a single-payer legal system as much as a single-payer healthcare system. Great discourse.
PODCAST: Given that we’re staring down the barrel of a worldwide depression, Steve asks what we can learn from the Wall Street crash of 1929. This interview isn’t entirely limited to the discussion of economics — it would be hard for John and Steve to stay away from politics for a full hour. Their exchange of ideas is interesting because neither of them insists that he has all the answers.
PODCAST: Steve Grumbine sits down with Professor L. Randall Wray to set the record straight following a 2017 AMI (American Monetary Institute) article, referencing Wray and critiquing MMT. This interview takes us through the fundamentals of MMT — how money is created, the differing roles of the Treasury and the Fed, the causes of hyperinflation, and why the US will always have a trade deficit. There is also a good discussion on solutions to rampant inequality, including curbing corporate greed and using our government’s ‘power of the purse’.
PODCAST: The effects of austerity are always harshest on the most vulnerable groups, but the living conditions of Australia’s indigenous population also reflect that country’s unique history of brutal colonial oppression. Colonizers tore communities apart. Jengis talks about this, and Pavlina Tcherneva’s story of the “hut tax” imposed by the British in Malawi as a coercive measure providing a labor force, and so much more.
Meme of the Month
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