Stephen Yearwood
1 min readSep 5, 2024

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First, thanks for an accessible summary of a topic that is devilishly difficult to 'unpack', as it is put these days.

If I may, perhaps this other alternative might be of interest. It is similar to MMT, but it does not involve debt in any way in the creation of money (as currency), the amount of that money that would be created is strictly limited and is determined solely by demographics, and there is a mechanism other than using taxes (and public debt) for withdrawing money from the economy. With that mechanism in place and with demographics determining the amount of money (as currency) that would be created, the total supply of money would become fully self-regulating, making the economy itself fully self-regulating.

The outcomes for society are astonishing: no unemployment (without imposing any cost on any employer), no poverty (without redistributing anything), no taxes/public debt (as long as public spending anywhere did not exceed the allotted amount--based on current per capita total government spending), and sustainability would be systemically enhanced.

If curious, "A Most Beneficial Economic Change" is a "2 min read" here in Medium with links to articles relating the proposal from different angles within the field of economics (with nothing I publish here behind the paywall). [The first of them (which emphasizes the environmental benefits of the proposal) actually provides the most concisely complete and updated summation of the proposal.]

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Stephen Yearwood
Stephen Yearwood

Written by Stephen Yearwood

M.A. in political economy (money/distributive justice) "Please don't confront me with my failures/ I'm aware of them" from "These Days," as sung by Gregg Allman

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