Keith Hart on Tue, 11 Sep 2012 20:26:54 +0200 (CEST)

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Re: <nettime> Debt As A Public Good, Berlin #BeautifulTrouble Book Launch w/ @AndrewBoyd & @Info_Activism // Attn @BTroublemakers

Hi Dmytri.

I agree with: "Organizing around debt means uniting against insane policies
that promote the interests of rich corporations and rich countries against
common households and poorer countries. Much of the debt born my households
and the debt born by peripheral nations is a result of bad government and
bad economic policy." But I don't understand why you stick with this
Keynesian analysis which, if it ever applied anywhere, partly illuminated
the national economies of Europe during *les trente glorieuses* of social
democracy. The approach doesn't offer much insight into the current global
system of money where most of it goes off the books. Do you advocate a
return to national economy? There must be some rhetorical purpose for
exhuming this relic.



PS Andrew Boyd does look like he is fun. Good luck with the meeting.

On Tue, Sep 11, 2012 at 8:14 PM, Dmytri Kleiner <>wrote:

> Here's a bit of primer.
> If a modern monetary economy is to have either growth or savings it
> requires a deficit somewhere.
> This is not an opinion, or an ideologically biased point of view. It is an
> arithmetic fact based on the what money means in actually existing modern
> economies.

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