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Costs and Priorities

“Supply and Demand” assumes resource relationships(ownership), and social expectations(market exchange), that aren’t always valid or appropriate. “Costs and Priorities” is a generalized, universal framework for understanding social choices and resource limitations.

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Derek McDaniel in Costs and Priorities

Aug 22, 2017

Better Accounting: Ending the Cycles of Abuse

Politics and Finance fuel destructive cycles using Outrage, Greed, Inappropriate Privilege, and Domination.

Derek McDaniel in Costs and Priorities

May 12, 2017

Political Entities Assign Jobs and Ration Resources

Whenever you hear a politician say they are going to make jobs, there’s an implicit misconception, that inscrutable financial wizardy is involved.

Derek McDaniel in Costs and Priorities

May 5, 2017

Local Assets, Local Taxes, Local Money

Cost And Priorities Index

In this post I will discuss local taxes. Taxation is an expression of political accounting relationships.

Derek McDaniel in Costs and Priorities

May 5, 2017

Costs And Priorities Index

Resource Use and Social Decision Making

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Costs and Priorities are Universal Principles of Social Resource Management
The Pizza Theory of Fiat Money

Derek McDaniel in Costs and Priorities

Mar 28, 2017

Q: What is capitalism?

A: Politically autonomous resource management based on value measurement.

There are many challenging concepts connected to the idea of capitalism. This makes it difficult to define. I think this definition does better than the currently accepted definition…

Derek McDaniel in Costs and Priorities

Jan 1, 2017

Thinking about costs, instead of just price.

In the post titled “What is a Price?”, I defined a price as the social costs of resource use.

Prices often involve expenditure of virtual resources granted in a social context. Fiat money, and even bitcoin, are accounting…

Derek McDaniel in Costs and Priorities

Oct 14, 2016

Understanding Equity

This post will focus on equity, identifying what qualifies financial assets as equity, and the strengths and weaknesses of equity as a financial tool.

Compared to trying to analyze “money”, which can mean different things to different people in different contexts…

Derek McDaniel in Costs and Priorities

Sep 21, 2016

Who will fill the Output Gap?

MMT suggests we look at the output gap: (capacity minus utilization), before we consider the fiscal deficit: (spending minus taxes). The only question is, who should fill…