The goal of this blog is to pursue a reality-based understanding of how economies work, and in particular, the role that debt plays in economies at all levels.
About This Blog
In January of 2011 I wrote an article/paper in which I argued that economics as a discipline has failed. The piece is entitled A Time to Re-Think: How Economics has Failed America, and it lays out in layman's terms how mainstream economics has failed to develop an accurate understanding of how the world works, and how we as Americans are paying the price for that failure.
In the months following the paper's completion, propelled entirely by word of mouth, the piece has gone viral. The paper has been read by people all around the world.
I created this blog to provide a platform for continuing the conversation—to provide a meeting place for those who want understand more and for those who want to a deeper examination of where things go from here.
It seems clear that the biggest obstacles to addressing our economic challenges are rooted in a failure of understanding. It may be an exceedingly long row to hoe, but the only way out of the mess we have created is to begin having a conversation about (1) how economies really work and (2) what that means for how we manage them.