The Truth About Government Money and Federal Finance
The Church of Our Father
You can determine if you might be interested in this course by taking a short, TRUE/FALSE, quiz: 1. U.S. dollars must be backed by gold. 2. Federal expenditures are supported by your taxes. 3. Federal deficits require the U.S. Government to borrow money to balance the Federal budget. 4. The National Debt (cumulative deficits) will be a burden on future generations. 5. The Federal Government, like a household, can run out of money. In this course we will learn that each of these assertions is demonstrably and unequivocally false. If you answered “True” to one or more, then you share fundamental misconceptions about money and Federal Finance with the vast majority of the American public, especially the inhabitants of the U.S. Senate and House of Representatives. We will explore the true nature of government money through the lens of Modern Monetary Theory (MMT) which, despite its name, is based on thinking about money developed and tested over hundreds of years. MMT provides a novel and liberating perspective on federal finance that can free us from false and socially damaging political ideologies, and could save the planet by unleashing our true capacity to fund public goods that benefit all Americans.
About the instructor
David Dawson has a BS in Electrical Engineering and a PhD in Biology from the University of Pittsburgh and training in Biophysics from Yale. In his 41-year career, he taught at the University of Iowa, the University of Michigan, and the Oregon Health Science University where he was Chair of Physiology and Pharmacology. He has lectured on his research (cystic fibrosis) nationally and internationally and lectured at the MDI Bio Lab on grant writing. After retiring from OHSU in 2014, Dawson took up the study of the History of Economic Thought and delivered the Hugh Davson Lecture to the American Physiological Society in Orlando, Florida entitled “Music, Membranes and Macroeconomics: What I learned from CFTR, Bob Dylan and Adam Smith.” In the Fall of 2018 and 2019 he taught ASC courses in the History of Economic Thought “A Brief History of the Dismal Science.” He recently published his first paper on the History of Economic Thought, entitled “Searching for Laws of Economics: Causality, Conservation and Ideology.” https://doi.org/10.1152/ajpcell.00324.2020