Last Exit to the Road Less Traveled


New Economic Perspectives has the article Last Exit to the Road Less Traveled.

The last exit to the Road-Less-Travelled, then, ultimately depends on establishing a new understanding of the modern fiat-money we use today—an understanding that will enable us to see a remarkable new reality: the “costs” of resource protection and restoration are the income of artisanship.

I think one of the important parts of understanding Modern Money Theory (MMT) is that there are some things that the commons need doing that don’t profit one individual or one corporation to do. The only solution may be that the controller of the sovereign currency (our government) can spend money that is not profitable in the capitalist sense, but necessary for civilization. It is not enough to pump that currency into the system so that the profit motive can decide what to do with it all. Some of it needs to be pumped into the economy by paying for the upkeep of the commons.

How could I resist an article that said:

If you’re a hard-nosed, practical-minded engineer, don’t imagine you can’t be an artisan. In fact, you could be one of the greatest artisans who ever lived. All that’s necessary is that you apply your hard-nosed practicality to the “art” of utilizing resources sustainably to create something of utility.

That is sort of the view I had of myself as a practicing software engineer. Sometimes my bosses didn’t want artisanship, but that was part of my self-motivation. When I could no longer practice artisanship in the commercial world, software engineering stopped being fun, and I retired.

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