I have a friend interested
in subject matter.
If we search for global
Keynesian solutions
(beyond domestic or national
K. solutions)
we may find that the global
market itself
is
one big
Keynesian solution. Why?
Because there is no legal tender when you
trade outside your own nation. If you do not
like a hard scarce money that may
be re-
quired at home, you can trade with people
far away who are happy to sell you real
stuff
against a softer money payment you
are
willing
to offer.
In fact, you can resort to
international barter
which is an ultimate Keynesian
solution.
A global Keynesian solution
that looked to
global legal tender would mean
waiting for
global (or treaty created
global) money that
could satisfy any money
debt. That type of
solution may be decades
away.
If we think of Keynesian
solutions as mainly
those that create living wage
jobs for every
willing worker -- that too is
automatically done
when any place is sovereign.
It can print its
own money and guarantee full
employment
at an estimated living
wage.
Making the estimate become as good as
food on the table is a matter of supply not
demand.
So global Keynesian solutions are no more
than an application of successful supply side
economics.
As you can see, only the constraints
on output imposed by taxes and interest are
standing in our way --
globally speaking.
John Gelles
.