The forgotten children of Checenia. Life in Grozny. Picture taken by Musa Sadulajew.

The forgotten children of Checenia. Life in Grozny. Picture taken by Musa Sadulajew.
The forgotten children of Checenia. Life in Grozny. Picture taken by Musa Sadulajew.

Tuesday, December 27, 2011

Modern Monetary Theory i.e. how to solve (at least technically) the actual global economic crisis

I beg your pardon if I didn't find the time, till now, to keep alive this Blog with new posts and informations. My Blog is a small independent Blog, I know, and for the moment the Blog has a very little amount of readers. However even if the reader was just one this reader should be respected as if there were millions of readers. What really matters is not the amount, the quantity, but the quality. By the way I have a personal life as well. My personal life in these last 15 days is that I have been enough busy (as any other people in the Western world, I believe, due to the Christmas season). Don't forget I live in Antarctica, South Pole ....... hehehehe ;-))). I couldn't find enough time to inform you about new discovers I did.

Now I am here again to improve the quality of this Blog. Quality for me is to inform people on how in our time there is a lot of confusion around some important matters and events of our present life. This is the reason because I titled this Blog "R-Evolution? Yes, Please!" intending with this we need to reconsider the way we made our evolution till today. With the "R-" before the name Evolution I suggest the idea we need to make a new form of Revolution, enough different from the old way to make a Revolution. The difference between a Revolution and a R-Evolution consists of avoiding the typical mistake when a Revolution occurs. The mistake of any Revolution in the world (either in the past or in the present) is that any time a Revolution happens people destroy almost everything and start again from a "point zero". In a R-Evolution process people understand there is something good of the old system that must be saved and from this point that we can call  "Point 3" (or 4, 5 or what else) we have to start again. Never in a R-Evolution process you have to start from a "Ground Zero" level. If after a R-Evolution process we start again from a "Ground Zero" level this means that the process is a Revolution process, not a R-Evolution process. This must be seen as a failure, then. Success is R-Evolution, not Revolution.

Today I wish to take under your attention the following new process, a R-Evolution process. His name is "MMT" which means Modern Monetary Theory. I have been able to know and understand it thanks to an Italian journalist whose name is Paolo Barnard. If you understand Italian language and you want to know more about him, please go to or go straight to the following page if you prefer to know his last work about MMT. The link is:

However Mr. Barnard is not the inventor of Modern Monetary Theory (MMT). He just discovered it and since he is a very good and reliable journalist he is trying to inform people about its existence. The real leaders of this new theory are based in United States and they are a group of professors, students and researcher based at the Department of Economics, University of Missouri, Kansas City. You can go straight to the page of Modern Monetary Theory (MMT) If you follow this link: 

The MMT team based in Kansas City at University of Missouri is basically composed by the following professors: William Black, Michael Hudson, Stephanie Kelton, Warren Mosler and L. Randall Wray. But there are other people equally importants working and living in others sites in US or around the world. They are: Marshall Auerback in Denver at Levy Institute and Alain Parguez which is based at the Université de Franche-Comté at Besançon (France), Faculty of Law, Economics and Political Science.

It is enough years that all these people are diffusing and informing about Modern Monetary Theory (MMT) all around the world. What happens right now is that, due to the global crisis, this theory is not just a mere theory but possibly the only practical tool by which we can go out of the tunnel (better, the nightmare) of the economic global crisis.

Mr. Barnard is trying to set a meeting up in Toscana (Italy) on the next month of February. The meeting is not actually confirmed because it is a very expensive meeting and Mr. Barnard needs the support of all the people who wish to assist it. It will be held under the form of a two days seminar. Some of the people named above will fly to Italy to held the seminar. If, for any reason, you wish to participate follow this link: and you are going to be explained on how to participate (but remember, you must understand Italian. If not, remember, Google Translate can help you).

Well, I hope you could find interesting to know what is Modern Monetary Theory (MMT) and how can solve our global economic problems. Maybe we can meet on February in Italy. I can't assure my presence, right now, but it is highly probable I will be present at the meeting. I will do all my best to see you there. Keep informed on this same Blog.

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