Your understanding of orthodox and heterodox economic methodologies, the contested theories of the state, and our reading about money and technology should inform your response to these questions. Write this paper to address the economic or social issue of Inequality, climate change, student loan debt, debt in general, or unemployment. Pick one. How can we use economic methodology, theories of the state, and money to address the problems and challenges we face as individuals and a species?
These critiques can be generally described as:
1. Technology and monetary design afford us the opportunity to disrupt the existing system and create the barter economic world envisioned by orthodox economics. The system the orthodoxy claims to exist in the models, does, we simply must transform money by using blockchains, digital ledgers, and smart contracts to create the decentralized economy of trade and barter hypothesized in their models.
2. A moderate Keynesian or John Bates Clark position that money can be used to address capitalisms fundamental flaws. As such, inequality, unemployment, and climate change can be meaningfully addressed using the right balance of public and private ownership. Reform rather than revolution is the path forward.
3. A second disruptive position maintains that redesigning monetary systems affords the opportunity for a new form of democracy and production that transitions the economy away from the social constraints of capitalism. Is there a next system? Is the monetary system the space for generating that transition?
https://www.buzzsprout.com/172776/2004178
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3298823
https://budget.house.gov/legislation/hearings/reexamining-economic-costs-debt?fbclid=IwAR1KaWT4-24naSnKN2cnGxPYjcfI-oMXBULToXWJtyRefpijVROz7RHWiZM
