What is MMT?
MMT stands for Modern Monetary Theory – It is a lens by which we view the creation of Money by central banks around the world and it displays that governments, who control their own currency don’t rely on “Tax Payers” money in order to spend.
MMT
MMT proponents state that sovereign governments who control the issuance of their own currency can never run out of money. The only constraint is real resources and inflation. They also advocate for a Job guarantee whereby anybody who wants a job can have one paid for by the government.
What is Steady State Economics?
A steady state economy entails stabilized population and per capita consumption. Birth rates equal death rates, and production rates equal depreciation rates. Minimizing waste allows for a steady state economy at higher levels of production and consumption.
CASSE
What is Mutual Credit?
It’s a means of trading, of exchange, that doesn’t require conventional money, doesn’t incur interest and doesn’t involve banks. It’s based on networks of businesses, traders and individuals who get to know and trust each other in a geographical area or business sector.
LowImpact.org
There are many systems around the world that implement mutual credit systems.
One is through Simbi, a closed system whereby goods and services are exchanged and accounted for using a currency called simbi. Simbi is earned via exchange or performing a task in the Simbi ecosystem. The main difference between Simbi and CES is that account holders are not allowed to have negative balances. This is reserved for Organisational accounts (much like a Timebank).
Another is through mutual credit services, with a whole host of resources talking about the subject.
What is Degrowth?
Degrowth means primarily the abolition of economic growth as a social objective. This implies a new direction for society, one in which societies will use fewer natural resources and will organize and live differently from today.
Open Democracy
What do MMT and Mutual Credit have in common?
MMT and Mutual credit are the tools to help achieve Steady State Economics and Degrowth.
