PoorNoMore — ஏழைகளே இல்லாத உலகம்

The purpose of the proposal is to show the common man, policymakers, Government & other stakeholders that it is possible to achieve full employment and price stability through sustainable development of villages, in a country like India which is resource rich.  And we are providing a model & structure to do that.   Is  it  possible to have a workable structure to achieve this?   India occupies top 3 position in cultivation of many of the farm produces. To sustain and get the maximum benefit out of this, we need to streamline the entire process. This strength is not utilized to get maximum economic benefit to farmers, farm workers and villages. We  need an innovative structure to get the best possible outcome.  Farmers not getting adequate return is a perennial problem in India; produces like tomato thrown to landfill due to excessive supply is a regular occurrence, conveying lack of planning. Middle men and retailers reap the benefits at t...

The above proposal has evolved out of conversation with Warren Mosler & the  verbatim extract of the correspondence is given below:  Warren Mosler:  Thoughts on proposing to make the rural poor employment program universal and with a somewhat higher wage?   Rajendra Rasu:  The employment program for rural poor is called NREGA (National Rural Employment Guarantee Act) program.   WM: Ok    Raj:  We need to carefully look at the situation. Indian context is unique, compared to developed economies. It has an extremely high share of informal workers, 94%.   WM: Is the NREGA wage above informal sector wages?   Raj:  NREGA wage has been increasing every year, presently it is at Rs 200 ($3) pet day. It is lower than prescribed minimum wage which is Rs 300 per day. Informal wage varies hugely state to state, based on demand & supply. In Tamilnadu, it is very high Rs 600 per day for men, Rs 400 for...

MMT India presented a policy proposal during Oct. 2019 in which the possibility of sudden disruption to all economic activities was considered and proposed an economic model focused on ensuring availability of basic necessities to all at all times and having critical & strategic infrastructure in place to meet any eventuality. Covid19 is the worst crisis faced in the modern era, which caught all the countries, particularly the developed nations, completely unprepared & woefully short in their response to medical exigency of unseen proportion. No other crisis known to us has brought entire world to a total physical standstill, abruptly stopping all activities. It is not only a health crisis which doesn't have a known cure, it is spreading very fast & killing people, it could cause unimaginable economic disruption, shattering the livelihood of millions & millions and destroy most of the private sector if the impact is long-lasting. The crisis is unprecedented and...

Policy Proposal: Being the money monopolist, nothing comes in the way of the Government to provide basic and essential services to people and  ensure functioning of critical and strategic sectors, at all times, even during recession and calamities  like wars or natural disasters including climate catastrophe.  So, Government has to segregate the economic activities in to three segments: essential basic services to its citizens, critical & strategic functions and other economic activities; and then be the lead and dominant player   in the first two segments. We are  hanging on to the uncertainty of climate damage for not acting on that ;  if it happens, then it will be catastrophic  for the entire world,  particularly to the vulnerable segment  of people;  even if it doesn’t happen, there is nothing wrong absolutely about responsible and sustainable development ;  at the time of calamities, we may have to halt all our economic a...

MMT history and overview What is Money? by A. Mitchell Innes A Framework for the Analysis of the Price Level and Inflation Exchange Rate Policy and Full Employment MMT White Paper The Natural Rate of Interest is Zero Flow of Money - Sectoral Balances Flow of Money - Revisited

Warren Mosler : The Seven Deadly Innocent Frauds of Economic Policy Soft Currency Economics MMT White Paper Government deficit = Private Sector Savings Real tax is paid, when the government spends, not when it taxes: interview by Alan Kohler Warren Mosler - Modern Monetary Theory (MMT) Interview - Real Vision Government Is Money Monopolist, Therefore It Sets The Price MMT For You and Me A Gold Standard Is Extremely Wasteful Why MMT? A discussion with Warren Mosler   Gold standard thoughts Galbraith/Wray/Mosler submission for February 25 The Mosler Palestinian Development Plan Selected posts from @wbmosler: "Taxation is the intervention that creates unemployment by design for the further purpose of the state being able to hire those it's tax caused to be unemployed.  The JG works to transition the unemployed back to private sector employment and optimize output". "Assuming Gov is fully provisioned, it can 'correct it's mistake' by lo...

Randall Wray : Monetization of Budget Deficits A Meme for Money, Part 1 Rethinking Money as a Public Monopoly by Randall Wray The Neo-Chartalist Approach to Money by Randall Wray Understanding Modern Money – Video by Randall Wray Sectoral Balances - Why The Government Must Run Deficits Fiscal Reform to Benefit State and Local Governments: The Modern Money Theory Approach Modern Money Theory: How I came to MMT and what I include in MMT Modern Money Theory – Part 1 by Randall Wray Answers from the MMTers by Stephanie Kelton and Randall Wray Minsky & Modern Money Theory: Was Minsky a “forefather”? by Randall Wray Public Service Employment: A Path to Full Employment How to Pay for the Green New Deal by Randall Wray IS THE JOB GUARANTEE NECESSARY? Selected posts from Randall Wray: "Currency creation through spending comes first. But how can the treasury spend first, since it needs deposits (at the central bank) to avoid bouncing checks? Central banks are gener...