HuffPost Blog Post – The UMKC Buckaroo: A Currency Model for World Prosperity

http://www.huffingtonpost.com/warren-mosler/the-umkc-buckaroo-a-curre_b_970447.html

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3 Responses to HuffPost Blog Post – The UMKC Buckaroo: A Currency Model for World Prosperity

  1. comments on the Huffington Post site:

    umkcsteph
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    3 hours ago (12:38 PM)
    I also have had great success with the buckaroo program. My students started trading buckaroos for US dollars (establish­ing their own little foreign exchange market). It was a great way to integrate civic engagement with academic learning. Warren is one clever guy!

    Prof. Kelton, UMKC
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    Yeva Nersisyan
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    4 hours ago (11:16 AM)
    I got my introducti­on to the buckaroo program as a graduate student at UMKC and since then I have used it in every class that I taught. It helps students understand that government spending has to come before taxation. The tax is imposed at the beginning of the semester but they can’t pay it because they don’t have buckaroos. They are only able to pay their taxes once they earn the buckaroos, i.e. once the instructor has paid out (spent) the buckaroos. Great teaching tool that can be modified to also demonstrat­e how monetary policy, treasury bond sales and quantitati­ve easing work.
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    sienaa
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    5 hours ago (10:53 AM)
    this is very interestin­g.
    A great test of full employment idea and spending-o­n-demand policy – and their consequenc­es: limiting demand and need of borrowing; allowing to concentrat­e on public purpose, instead of made-up concerns like “balanced budget”.
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    Oliver Dreher
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    6 hours ago (10:03 AM)
    Yes, it is true that the buckaroo program is a very nice working MMT model, and I have enjoyed being a part of it. !!! But now is the time for the formation of the great amalgamate­d RSLU, local 1 (Roo Student Labor Union) and we have a list of demands !!! We want first to be recognized­, we want to collective­ly bargain the buckaroo wage and benefits of our fellow student workers, we want a say in the scope of work responsibi­lities and availabili­ties, and we want our own Roo Labor Credit Union!

    “The power of the Buckaroo issuer concede nothing without a demand !!!, there will be power in the roo-studen­t-labor-un­ion”
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    jown
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    16 hours ago (12:08 AM)
    A dingo told me that there is a large synthetic buckaroo shadow banking system. All sorts of instrument­s: Cassowary Commercial Paper, Quokka Swaps, Brolga Bonds, Tasmanian Tiger T-Bills, Yabby Equities, Frilled Dragon Futures; you name it, they’ll make it.

    Also heard reports of counterfit­ting, a.k.a. the “Wallaroo”

    (yeah right, okay … there was no dingo … )

    Warren, thanks for all your work (MMT and other) and your continued relations with UMKC.

    Yeah, this semester I get the opportunit­y to get some Buckaroos. Such good options for service, hard to decide! (bake, food pantry, literacy, art fairs, etc.; I’m excited, as it’s nice to be engaged and part of)
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    ptcherneva
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    16 hours ago (11:45 PM)
    I ran this program in every one of the classes I taught at UMKC during 2003-2006. It provided invaluable economics and civics lessons to my students. Most importantl­y it demystifie­d modern money. Students immediatel­y grasped how taxes create demand for a seemingly useless ‘paper currency’ and how that currency can be managed for the public purpose in a way to maintain ‘full’ employment of labor resources at stable prices.

    Reply

  2. Adam2 says:

    Capivari in Brazil and the Buckaroo in UMKC.

    http://www.npr.org/blogs/money/2011/09/20/140629880/tiny-currency-features-giant-rodent

    http://online.wsj.com/article/SB10001424053111904583204576542851688284590.html

    Reply

    WARREN MOSLER Reply:

    It says the capivaris are issued to depositors of ‘hard’ currency

    Reply

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