Santurtzitik Bilbora…, Hamaika TB-ren bidez:
Zer ote da dirua? Bizi daiteke dirurik gabe?
Krisia: zer krisi mota? Krisitik irteten ari gara?
Non dago dirua?
Sarrera gisa, eta gaingiroki bada ere, ikus http://www.hamaika.eus/tb/bideo/78955.
(Zuzenketa: Esandakoa: “… Ameriketako banku zentral (sic) handiak…” Entzun beharko dena: “…Ameriketako banku handiak…” Egia esan, ez dakit zer dela eta atera zitzaidan ‘zentral’ hitza; barka, beraz.)
Hona hemen berriki argitaratutako link batzuk, ingelesez, sarrera honetaz pixka bat sakontzeko:
i) Langabeziari begiratu behar zaio…[1]
Europako enplegu estrategia – enplegu berri gutxi bistan[2], Bill Mitchell-ek dionez.
(Gogoratu blog honetan jadanik plazaratutakoa: Langabezia, zer egin?[3].)
ii) Krisia, batez ere, teoria krisia da…
MMT eta mass media.[4]
MMT delakoak, alegia, DTM-k aparteko arrakasta lortu du Warren Mosler-ek modu koherente batez sintetizatu zuenetik.
Hala ere, oraindik bide luzea dauka ekonomialariak teoria berri horretaz jabetzeko eta bera onartzeko.
Egindako aurrerapena bistakoa da, baina mass media-ra jauzi egitea falta zaio.
(Diru Teoria Modernoaz, gogoratu DTM hasiberrientzat[5].)
iii) Irtenbiderantz: Europako Banku Zentralaren rola
Eurogunerako beste plan berri bat[6].
Noizean behin eurogunerako plan ‘berriak’ azaltzen dira.
Hala ere, horrelako plan batek ere ez ez du irtenbiderik ematen.
Aspaldian blog honetan aipatu denez, eta B. Mitchell-ek gogoratu digunez:
“…the ECB to fund whatever deficits were required at the federal level (that is, a new federal fiscal unit is required) and the state level (the Member States).”
Gainera, EBZ-ren eta Altxor Publikoaren artean Overt Monetary Financing[7]delakoa izan behar da eragile normal bakarra[8], langabeziaren aurka aritzeko.
(Gogoratu blog honetan jadanik ikusitakoa, Warren Mosler-en bidez:
Mosler-en proposamen dotorea, euroa erabiliz[9]. Teklatuaren bidez…[10] Teklatuaren bidez…: Eurolandian ere?[11])
iv) Politika fiskala: Altxor Publikoa eta Banku Zentrala…
Banku Zentralak zuzenki erosi behar du gobernu zorra[12].
Bill Mitchell-ek dioenez, Banku Zentralek beren rolari eutsi behar diote, Overt Monetary Financing(OMF) martxan jarriz. Alegia, Banku Zentralaren eta Altxor Publikoaren arteko erlazioa abiadan jarriz.
Dena den, sektore publikoak batez ere behartsuak kontuan hartu behar ditu, eta, beste neurri batzuen artean, deribatuak eta abar ez dira produktu finantzario gisa erabiliko, espekulazioa baztertzearren[13].
Eta gurera etorri. Euskaraz, ba ote dago ezer Modern Money Theory delakoaz, alegia, Diru Teoria Modernoaz?
Hona bi iturri nagusi:
a) UEUko bloga: Heterodoxia, diru teoria modernoa eta finantza ingeniaritza[14]
b) UEUk argitaratutako liburua: Diru Teoria Modernoa eta finantza-ingeniaritza[15]
Bai, badakit: DTMz jabetzea denbora kontua da[16].
(Lantxo hau Loiolako erakustaldia sortu zuten guztiei opa nahi diet, bereziki bost gazteoi[17].)
[1] Ikus https://www.unibertsitatea.net/otarrea/gizarte-zientziak/ekonomia/langabeziaren-aurka-lan-bermea.
[2] Ikus European Employment Strategy – barely a new job in sight: http://bilbo.economicoutlook.net/blog/?p=29029.
Mitchell-en hitzez, ingelesez: “There are around 25 million people unemployed in the European Union. If we allow for frictions (around 2 per cent), then they need at least 21 million jobs (about) to achieve their aim of achieving full employment. So what are they doing about it?”
[3] Ikus https://www.unibertsitatea.net/blogak/heterodoxia/2014/04/27/langabezia-zer-egin/.
[4] Ikus The Re-invent Democracy Platform and MMT: http://neweconomicperspectives.org/2014/09/re-invent-democracy-platform-mmt.html.
Ingelesez: “Proponents of the Modern Monetary Theory (MMT) approach to macroeconomics have had many successes since the approach was first synthesized in coherent form by Warren Mosler. There have been successful predictions of economic conditions: much work showing that the historical record accords with the MMT point of view, rather than the views of other approaches and paradigms, and also many instances where representatives of other approaches to economics have suddenly begun to use economic views first put forward by MMT economists.
So, it’s surely true that MMT has been making progress in its quest to become the dominant economic paradigm guiding macroeconomic and fiscal policy in nations. But for some of us writing about issues relating to MMT progress seems painfully slow. A big part of the reason for slow progress is the difficulty of getting MMT views into the mass media consistently, which is seen as a necessary step in getting them popular currency.
[5] Ikus https://www.unibertsitatea.net/blogak/heterodoxia/2014/01/21/diru-teoria-modernoa-hasiberrientzat-3/.
[6] Ikus Another Eurozone plan or two that skate around the edges:http://bilbo.economicoutlook.net/blog/?p=29130.
[7] Overt Monetary Financing delakoaz, ikus http://www.economonitor.com/blog/2013/09/overt-money-financing-and-public-debt/. Halaber, ikus OMF – paranoia for many but a solution for all: http://bilbo.economicoutlook.net/blog/?p=26300.
Euskaraz, ikus https://www.unibertsitatea.net/blogak/heterodoxia/2014/08/12/eurogunea-bill-mitchell-en-azken-liburuaz-hitz-bi/ eta https://www.unibertsitatea.net/blogak/heterodoxia/2014/06/07/europak-ekaitz-intelektual-bat-behar-du/.
[8] Ingelesez: There are any number of palliative care remedies being proposed by many individuals and groups about the Eurozone crisis. None of them will solve the intrinsic problem which is the currency itself. The only way to keep the currency is for the nations to agree they abandon pretensions to a separate destiny and refuse to tolerate massive regional variations in prosperity and put in place major fiscal transfer mechanisms that ensure the rich regions in Germany pay up to allow the poorer regions in Greece, for example, to come up to the same level of public infrastructure, employment and income growth.
That, in turn, would require the ECB to fund whatever deficits were required at the federal level (that is, a new federal fiscal unit is required) and the state level (the Member States). That, in turn, would require the SGP be abandoned and preferably Overt Monetary Financing become the normal interaction between the ECB and the Federal treasury function, and filtering down to the Member State fiscal functions. A federal unemployment scheme would be one element in that solution. But it is not the solution in its own right and to hold out otherwise is to just invoke more false dawns.”
[9] Ikus https://www.unibertsitatea.net/blogak/heterodoxia/2012/05/21/warren-mosler-en-proposamenak.
[10] Ikus https://www.unibertsitatea.net/blogak/heterodoxia/2013/06/20/teklatuaren-bidez.
[11] Ikus https://www.unibertsitatea.net/blogak/heterodoxia/2013/06/20/teklatuaren-bidez-eurolandian-ere/.
[12] Ikus Direct central bank purchases of government debt:http://bilbo.economicoutlook.net/blog/?p=29140.
Ingelesez: “… in the last three decades or so, the concept of direct purchases of government debt by the central bank has become taboo. There is no good reason for that taboo status and many related problems of the operation of the monetary system would be resolved if central banks returned to that role – which in the current debate is being referred to as Overt Monetary Financing(OMF). Please read my blog – OMF – paranoia for many but a solution for all– for more discussion on this point. I also devote a chapter in my forthcoming book on the Eurozone to the topic of OMF. Kenneth Garbade shows that the original legislation establishing the Federal Reserve Bank system in the US (the Federal Reserve Act) clearly allowed the the Federal Reserve Banks to buy unlimited amounts of Treasury bonds directly from the Treasury.”
[13] Ingelesez: “The most effective way for governments to run their fiscal affairs is to use the currency-issuing capacity embedded in the consolidated government (treasury and central bank) directly without erecting a labyrythincic structure of voluntary constraints, which make it look like the funding is coming from the private sector savings.
Public sector welfare provision should only be targeted at those who are disadvantagedwith the aim of providing opportunities for all to be included in society at acceptable real living standards.
It should never be provided to private (rich) bond traders nor be used to create derivative financial products that spread this wealth among the financial market casino. In that sense, while direct purchase of government debt by the central bank is preferable to issuing the debt in the private bond markets, the more obvious solution is to have an arrangement where the central bank credits and debits bank accounts to reflect spending and taxation flows, without having to issue any ‘debt’ instrument at all.”
[14] Ikus https://www.unibertsitatea.net/blogak/heterodoxia/.
[15] Ikus http://www.ueu.org/denda/ikusi/diru_teoria_modernoa_eta_finantza_ingeniaritza.
[16] Ikus https://www.unibertsitatea.net/blogak/heterodoxia/2014/08/30/denbora-kontua-da/.
[17] Ikus https://www.unibertsitatea.net/blogak/heterodoxia/2014/09/23/tartetxoa-duintasunez-beteriko-egunak/.
