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    Common Dreams. To inform. To inspire. To ignite change for the common good.
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    Common DreamsTo inform. To inspire. To ignite change for the common good.

    modern monetary theory

    Jane O'Meara Sanders (right) speaks with attendees of the Sanders Institute Gathering

    A 'Focus on Solidarity' and Progressive Solutions at Latest Sanders Institute Gathering

    "It bodes well for the future," said Jane O'Meara Sanders of the gathering where elected officials, union leaders, experts, and organizers discussed solutions for the climate, housing, healthcare, and more.

    Jessica Corbett
    Julia Conley
    Jun 14, 2024

    In preparing for The Sanders Institute Gathering this year, Jane O'Meara Sanders and Dave Driscoll knew they would have to pry some of the nation's leading advocates for climate action, labor rights, and economic justice away from their crucial work for a few days.

    But doing so meant that progressive leaders including Third Act founder Bill McKibben, One Fair Wage president Saru Jayaraman, economist Stephanie Kelton, and Sen. Bernie Sanders (I-Vt.) would be able to spend three days collaborating on solutions to some of the most pressing issues facing communities across the United States and the globe.

    Keep ReadingShow Less
    media
    sanders-institute
    Activists hold up a banner demanding the cancellation of Global South nations' debt during the COP27 climate conference in Sharm El-Sheikh, Egypt on November 16, 2022. ​

    Humanity Faces Converging Debt Crises

    High levels of global debt are likely to turn what could be a controllable shift from expansion to contraction into a blowout of unfulfilled expectations and obligations, leading to widespread suffering.

    Richard Heinberg
    Feb 23, 2023

    An enormous debt bomb threatens the U.S. federal government and the nation's financial system unless warring politicians can agree on a plan to defuse it. However, there are even bigger debt bombs ticking away beneath us all, of which fewer people are aware. It may be impossible to disarm all of them, but action is required to minimize the casualties.

    Let's start by focusing on the immediate U.S. debt threat, then widen our view to take in longer-term and more serious liabilities that have the potential to bring down the entire global industrial economy.

    Keep ReadingShow Less
    modern monetary theory
    debt
    On Paying for a Green New Deal with Modern Monetary Theory

    On Paying for a Green New Deal with Modern Monetary Theory

    We should perhaps not blame politicians who advocate a GND without telling us how they plan to pay for it. After all, Republican politicians have been getting elected for 40 years by promising big tax cuts without saying how they would pay for them. Still, MMT is not the solution.

    Dean Baker
    Mar 18, 2019

    Much of the Democratic Party, including almost the entire pack of contenders for the Democratic presidential nomination, has embraced the concept of a Green New Deal (GND). This is an ambitious plan for slashing greenhouse gas emissions, while at the same time creating good-paying jobs, improving education, and reducing inequality.

    At this point, the specific policies entailed by these ambitious goals are largely up for grabs, as is the question of how to pay for this agenda. One way of paying for it, borrowing from the economic doctrine know as Modern Monetary Theory (MMT), is that we don't have to.

    Keep ReadingShow Less
    dean baker

    The Folly of Scrapping Stimulus

    World leaders are now learning the folly of hastily declaring victory over the worst effects of the Great Recession. Turns out we're not even remotely out of the woods after the worst economic collapse since the Depression of the 1930s.

    With the Great Recession consigned to the history books, austerity became the mantra among the advanced economies that had suffered most from the epic downturn.

    David Olive
    Sep 23, 2011

    World leaders are now learning the folly of hastily declaring victory over the worst effects of the Great Recession. Turns out we're not even remotely out of the woods after the worst economic collapse since the Depression of the 1930s.

    With the Great Recession consigned to the history books, austerity became the mantra among the advanced economies that had suffered most from the epic downturn.

    Keep ReadingShow Less
    arab spring

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