New Economic Perspectives Wed 2010-09-29 09:11 EDT
An Interview with Warren Mosler: Modern Money Theory and the Exonomy
...unemployment is evidence of a lack of aggregate demand, so what the world is lacking is sufficient aggregate demand. *In the United States, my prescription includes 1) what we call a payroll tax holiday, i.e., a tax reduction, 2) a revenue distribution to the states by the federal government and 3) a federally funded $8.00-per-hour job for anyone willing and able to work. * *For the euro zone, I propose a distribution from the European Central Bank to the national governments of perhaps as much as 20 percent of GDP to be done on a per capita basis so it will be fair to all the member nations*.
Exonomy; interview; Modern Money Theory; New Economic Perspectives; Warren Mosler.