Mike Sankowski has posted an excellent story up at the new Modern Monetary Realism website here. The way the site is currently arranged is in two distinct parts. The front page will be 100% operational. We want it to be nothing more than a resource for understanding the modern monetary system. As of now it’s just a shell, but it’s a work in progress. You can see the outline now, but it’s far from complete. The goal is simple. Teach the public, spread the message. The blog section of the site will be a range of topics including stories like Mike’s current one. But the idea is to create a clear distinction between the operational and the prescriptive. Our understanding of the system leads to policy. The two cannot be mixed. But that doesn’t mean we won’t express opinions and ideas on the blog section.
The overall goal is basic. We want to create a simple go-to source for understanding the modern monetary system. We also want to try to eliminate politics and biases as best we can from the main page. I know that’s not entirely feasible, but I think we can focus 95% on operational aspects and helping people learn this content better. If we have any prayer of taking this mainstream we need to focus on the facts and eliminate the politics that poison so much of economics.
But we need your help. Let us know what we can do to improve the process of teaching people and informing the public. At the end of the day this is all about getting the message out to the public and influencing public opinion and ultimately public policy. As Carlos often says, the goal isn’t to get in a textbook. The goal is to get in the US tax code. We’re not going to be able to do that without your help. So hopefully, this is the start of something good. But building it and spreading it is going to be a long road….
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.