Richard Spud — The Reality Is Everything Must Change

I would propose at that topographic point are iii things nosotros know.

The start out is that climate alter is real. The consequence is that nil tin hand the axe rest the same.
The minute is that neoliberalism has reduced most people to living inwards states of profound insecurity. Ignore that poverty is supposedly beingness beaten. This is most for nought if the consequence is disabling fearfulness for time to come well-being. This cannot persist because people volition non tolerate it. We are seeing that, rattling widely.

Third, our economical together with social orders do, then, accept to change, together with profoundly. This is non an option. It is an absolute necessity. And what nosotros know is someone uppercase has ceased to move available for active investment it is straight off most exclusively directed to rent seeking. In that example it is only nation created funding that tin hand the axe exercise this procedure of change.

To seat this around other way, what may move the biggest programme of alter ever known inwards human history is required inwards rattling brusk order. We take away novel release energy systems; transformation of our housing stock; novel carry infrastructure; radically dissimilar approaches to nutrient that mightiness fifty-fifty require rationing if nosotros cannot exercise alter whatever other way; dissimilar ways of working together with novel ways of using leisure time. As I suggested, everything must change....

How to exercise all this? Only nation created funding tin hand the axe exercise the finance needed for this change. What nosotros take away is non simply a Green New Deal but Green Quantitative Easing likewise to fund it. If this was wartime funding would move industrial plant life for the crisis nosotros face. It ever has been. Well, this may move worse than war. This is life itself nosotros are fighting for, on all fronts. The fourth dimension for lie is over. The fourth dimension for pussy- basis amongst novel taxes to extract a piffling to a greater extent than from the rich is yesterday’s news. There is no fourth dimension for that. This is the fourth dimension to exercise coin for change. And, if take away be, to bound coin creation for other reasons....

How to exercise all this? Only nation created funding tin hand the axe exercise the finance needed for this change. What nosotros take away is non simply a Green New Deal but Green Quantitative Easing likewise to fund it. If this was wartime funding would move industrial plant life for the crisis nosotros face. It ever has been. Well, this may move worse than war. This is life itself nosotros are fighting for, on all fronts.... 

"Green quantitative easing"?  When tried, quantitative easing has been a bust. It's a path to nowhere. Prefacing QE amongst "green" does just what?

"Overt coin financing"? It's got a overnice band to it. And happens to move the agency to larn the chore done.

Naked Capitalism
The Reality Is Everything Must Change

Richard Murphy, a chartered accountant together with a political economist, Professor of Practice inwards International Political Economy at City University, London, Director of Tax Research UK, a non-executive manager of Cambridge Econometrics, together with a fellow member of the Progressive Economy Forum. Originally published at Tax Research UK