" ... that we many be free from factional impositions, corrupt representation and unjust settlements."
Propositions concerning Economics
Initiated 15th August, 2020
Economics is a very broad topic and has been divided into threads including: Finance, Income disparity, Industry & services, Interest rates and Money supply. This section is maintained to add concerns not covered in these threads.
[These threads have been advanced from concerns to who is affected which in all cases is the majority of the constituency]
[we will be posting more explanations of the different macroeconomic approaches in the Resources section]
- The resources section has an interesting short review of economic "schools" but does not include the Austrian or Modern Monetary Theory, could you please put something in resources covering these? [Yes we are in contact with relevant researchers to secure useful references that are intelligible. The DIO is updating the page in the Resources section and we will add a recent overview we have found on MMT]"
- Studies demonstrate that Keynesianism, monetarism, supply side economics and modern monetary theory are all variations on a single theme of "demand management" where to gain economic "growth" demand needs to be raised. However, since all income comes from productive activities in the form of profits, dividends and wages and this determines consumption, this closed system can grow through reinvestment of savings in higher productivity production. But it seems that now the emphasis is on injecting debt and risk as the sole basis for generating increased demand and growth based on higher money volumes. Historically this has always devalued the currency whereas growth based higher productivity has demonstrated periods of stable currency value. The lack of an explicit comparative analysis between these two types of growth is of concern because monetarism appeared to be driving the economy increasingly in the direction of the debt devaluation option [we are researching to obtain relevant references on this quandary] [before valid propositions are feasible these details need to be understood and analyse in a transparent fashion]
- Can the Secretariat help by posting resources that separate policy types into those that have a bad track record and those that may offer ways to get the country out of the current monetarist fiasco? There needs to be a reference that helps distinguish between the principles applied when so many schools of "thought", while having distinct names, appear to have the same approach, as recently stated in this section. [We were working on that. We should be able to post something along these lines by 19th/20th August ... we depend on a researcher delivering output related to useful links]
- There needs to be a process whereby constituents have a more direct participatory means of deciding on macroeconomic policies (constitutional issue?)
- The one size fits all approach has created regional disparities to any new policies need to be able to adjust to regional differences and needs but the policy toolkit only contains a handful of centralized impositions [there are policies that are no of this nature - we will post details on Resources section]
- Real incomes of the lowest 30th percentile are too low [income disparity thread?]