Epic Poem, 1-year-old today 566 reads.Tragedy and Hope #GrubStreetJournal #GrubStreetPoetry #ConquestofDough

Roger Lewis Roger Lewis It has been read 566 times on my blog and appears in my downloadable collection of poetry on Amazon and Lulu. I wrote the poem as a response to a long discourse on monetary theory and political economy on David Malones Golem XIV Blog.

http://www.golemxiv.co.uk/2016/01/re-branding-dissent/

Roger January 8, 2016 at 1:35 pm #
An interesting discussion Wesley and John boiling down the technical arguments from the political seems to have evaded you both it must surely be possible absent moral/political judgements to discern how the existing system operates in The Uk and the US and elsewhere after all the systems exist? A favourite dialogue of mine is the one between Proudhon and Bastiat summarised here. http://praxeology.net/FB-PJP-DOI-Appx.htm I share Proudhon’s view regarding Interest and see the charging of Interest as the biggest problem of the monetary system. Jeremy Bentham’s in defence of Usury is in the Bastiat Camp albeit a dialogue between Bentham and Adam Smith http://www.econlib.org/library/Bentham/bnthUs.html ( interestingly one-sided reminiscent of Sam Harris engaging Noam Chomsky, Smith did not respond at all though.) The question about issuing money is surely that when Money is created out of thin air it should be spent into existence without interest and that if Interest is thought to be a good idea then the Interest Component should be created at the same time. This is the fundamental question ( Bentham misses it completely and so does Bastiat in my recollection of the debate. I personally have philosophical, moral and religious objections to the charging of Interest, all Interest charges for me are usurious, My own political views actually reject Capitalism as well I do not think it works. We do have the system we have though and as JohnG says MMT is supposed to describe how the system we have works’. Steve Keen is very good on endogenous money creation and bears very close attention I find.

Regardless of political views, it is the interest element that causes the damage when money is created as debt. This is the insight at the heart of the social credit movement.

Re-branding Dissent – Golem XIV – Thoughts

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