rod
New Member
Posts: 25 
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Post by rod on Aug 6, 2016 15:20:47 GMT
Trond Andresen is a Norwegian academic, former communist politician, public writer and debater, broadcaster, and assistant professor of Cybernetics at the Norwegian University of Science and Technology (NTNU) Control systems teacher, dynamical systems, modern monetary theory, mobile electronic money, non-capitalist and regulated market economy, recumbent bikes. He has written a few papers that maybe of interest on simplifying the financial system with all electronic money etc. folk.ntnu.no/tronda/econ/?id=ansatte/Andresen_Trond/econ/ |
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Post by Iain Dooley on Aug 7, 2016 10:25:27 GMT
Great thanks Rod. I'll have a read of the paper. I was speaking with the head of the Australian People's Party the other day and he is developing a framework called the Prosperity Tax which had quite a bit of alignment with MMT .. He hasn't released it yet and didn't give me all the details but one feature of it was a cashless system. I think in order to make this a reality we would need to have a state monopoly transaction system rather than privatised transaction systems as we have now. Wray calls this a "postal savings system" although I've never really looked into the etymology of that or seen other sources on it. He discusses it in lectures 6&7 of his macro series: www.youtube.com/playlist?list=PLkKoAQeawlO64sZ7KuRp21luMaUM63guoIt seems as though leaving the payment transaction system in private hands and then eliminating cash would be a bad idea ... |
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Senexx
Junior Member
Posts: 81
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Post by Senexx on Aug 9, 2016 1:57:03 GMT
A simple thing as a garage sale or yard sale ridicules the concept of a cashless economy, in the exact same way the Basics card should be ridiculed. I can expand that on to events like swap meets and so on.
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Post by Iain Dooley on Aug 9, 2016 20:20:29 GMT
I think it could work technically if we had a more advanced payments system but it would need a hell of a lot of R&D. For example the current model of bulky tap n go machines would certainly not cut it and you would probably end up with some sort of digital coin anyway.
Interestingly we are seeing that bitcoiners are creating physical Bitcoins, which sort of indicates the utility of physical coins because the marvel of Bitcoin initially was its all digital nature.
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Senexx
Junior Member
Posts: 81
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Post by Senexx on Aug 11, 2016 8:33:32 GMT
I did not know that about physical bitcoins - that's the whole point behind it being just bits - also why the RBA treats it as a commodity (which it is - obtained the same way we get gold effectively).
On top of my previous objections - just look at the census disaster - there are that many elderly that cannot do it and will not do it online etc.
The assumption is we all use smart phones, credit cards (I don't), etc. today
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Post by Iain Dooley on Aug 16, 2016 22:57:28 GMT
Yeah my mum won't use Internet banking but will use phone banking.
The switch over to opal for state rail payments is an example of using a cashless system but having it privatised is crazy. It just makes every so expensive and there is no good reason for it.
My hunch is that for the next x,00 years we will still have some form of physical currency but whatever the case I just don't think it is that much of a consideration one way or the other. Electronic money, notes and coins still all behave the same way and in the end achieve the same result.
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Senexx
Junior Member
Posts: 81
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Post by Senexx on Aug 22, 2016 4:14:04 GMT
Even if we had 100% of all transactions in electronic form, it does not change the MMT behind it one little bit.
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