Richard Douthwaite on ‘spending’ instead of ‘lending’, money into circulation
22nd November 2011
Richard Douthwaite,recently deceased, looks at the flaws in the current economic model and how it requires constantly tranfered debt. He goes on to imagine what what happen if we changed the system in order to make it more sustainable.
November 22nd, 2011 at 4:56 pm
The late Richard Douthwaite expressing the obvious!! The idea of using tax to tackle inflation can be found in Chartalism, or rather its modern incarnation of Modern Monetary Theory. However, my work on Transfinancial Economics goes beyond this to a situation in which we can be ABSOLUTELY CERTAIN that inflationary pressures cannot cause serious economic problems. Thus, REAL CONFIDENCE in the creation of new money can be undertaken via advanced stage TFE in which Electronic Transaction Monitoring, or ETM is phased in… and this would lead to a highly accurate understanding of the real economy in “real-time.”Also, such an approach would become increasingly essential in a finite world as we would get an accurate daily account of the amounts of resources used in products, and services….