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Progressive

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I have become very interested into looking the different economic schools, and I would like to witness your opinions on my advocacy. Basically, Post-Keynesianism is a heterodox school of economics whose centerpiece is Modern Monetary Theory. More information on this can be found at this Post-Keynesian editorial: http://neweconomicperspectives.org

In my opinion the Justice Party aligns with the majority of Paul Krugman's point of views. But I would like to offer a new perspective. The Full Employment act is not "socialist" in nature, but it is 'progressive' within the Keynesian economic framework. Please see: http://en.wikipedia.org/wiki/Humphrey%E2%80%93Hawkins_Full_Employment_Act

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DJMiller1

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Reply with quote  #2 

I think it is easy to get distracted with labels, e.g., "Should the party embrace Keynesianism or Neo-Keynesianism?" If bridges and other infrastructure are crumbling, and interest rates are at historic lows, we should put people to work repairing them because sound investments make us richer as a nation, not because the economy should be stimulated. There is so much work that needs to be done in this country that everyone should have a job.

yshuaben

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Reply with quote  #3 
It would be better to go back to American School, Progressive. It helped create the middle class, and maintained a balance between business and labor. 
Downstream

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Reply with quote  #4 
Greenspan apologized for authorizing "trickle-down economics" in his Age of Turmoil autobiography. He also stated that a gold standard was required to prevent confiscation of wealth through inflation (see his article Gold and Economic Freedom in The Objectivist. I'm not a fan, but it does help explain why a very savvy, well-informed economist would do things which would lead to economic meltdown. (He recalls thinking, upon consideration of taking the offer of chairmanship of the Fed "I could keep my private opinions to myself" - I nominate this for motto of the Unintentional Fascist Party.)

Whether you call it fiat money or chartalism, this is what is at the root of the developed world's economic problems.

Not being a gold-bug, I have no reason to advocate precious metals as a backing for our currency, but I certainly expect to hear discussions about what should make it a representative, hard system, since I recall seeing that as one of the Justice Party platform positions. Commodities? Energy? Water? Since Molten Salt Reactor fans say spent Uranium fuel rods can be used in an MSR, giving up the remaining 95% of their energy, maybe that should be one of the commodities.
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