Gun Control Now!!!

We Must Fix the 2nd Amendment!

J.H. Moromisato

Gun control may not be an economics issue; but it certainly is a political economics (poliemics) one. More specifically, gun control is a governance issue, and governance is one of the four-pillars of a modern society.

The defenders of the presumed freedom to purchase and own firearms, care more about such ‘precious’ freedom than the innocent lives of schoolchildren and other victims of such unrestrained freedom. The uncompromising position of the gun lobby must be met with an equally uncompromising position by the entire civilized society to stand in defense of our children’s right to life. Since the gun lobby shield its actions based on a misreading of the 2nd Amendment, the only way to end this carnage is to amend the Amendment.

John Paul Stevens, a former Justice of the Supreme Court, has dared to say what countless other American, myself among them, could only whisper: That we, as a nation, have tolerated the imperfections of the 2nd Amendment, for far too long; and that it is time to fix it. You can start by reading this Washington Post’s article:


Posted in Uncategorized | Leave a comment

Real Solutions to World Economic Development

Will be on sale by the first week of Dec, 2015.

Will be on sale by the first week of Dec, 2015.

Book Title: The Four Pillars of Development: Money, Taxes, Trade, and Governance

Subtitle: How to Grow the West and Develop the Rest

ISBN: 978-1-935903-13-0


The main premise of the book is that four specific technologies—especially the monetary one–were responsible for the development of the ‘West’. It presents new versions of these same technologies—based on a new understanding of Political Economy–which have the potential to develop the ‘Rest’, as well as to rekindle growth in the West itself. It includes a survey of most of the countries in the world, ranking their states of development and analyzing their correlations to a set of over twenty economic (or developmental) indicators. The extended Introduction presents a fresh view of the history of civilization, highlighting the technological milestones that created the Neolithic Revolution (the discovery of agriculture, c. -10,000), the Commercial Revolution (the invention of the coin, c. -600), and the Industrial Revolution (the invention of credit-money, 1653). The rebirth of Political Economy (Poliemy, or Poliemics), proclaimed by this book, might just represent the next technological milestone. The book’s last chapter is a ‘plan’ to ‘develop’ a ‘generic’ country.

This book would give policymakers, in every country in the world, the technologies they so badly need to help their people ‘to take hold of your lives’; to live their lives free of the confusions that now cloud their minds, and to build a new future in peace and prosperity for all.

The set of four new key technologies has the potential to solve the developmental problem of the world, and to eliminate the root causes of poverty and unemployment everywhere:

New Findings and Proposals:

  1. The primary cause of the British Industrial Revolution (The invention of Credit-Money, By William Potter, 1653)
  2. The rediscovery of the first ever plan for economic development (Bishop Berkeley, 1734)
  3. A sampling of new key technologies for development (J.H.M., 2015):
  1. A new view of the monetary flow;
  2. The Law of Conservation of Money;
  3. Re-defining wealth as money (or ‘purchasing power’);
  4. Re-statement of Keynes’s postulate on the relation between Incomes and Savings;
  5. The Universal Full Reserve (Inspired by Frederick Soddy, 1926);
  6. The creation and control by the Central Bank (CB) of two parallel monetary flows: one private, and the other public;
  7. The power of the CB to hold the entire national debt;
  8. The power of the CB to lend directly to government;
  9. The Fully Progressive Taxation—Marginal tax rates on the very rich may reach 100% if needed;
  10. Middle-class tax-rate levels may be substantially reduced—even retirement taxes;
  11. The Forever Balanced Fiscal Budget;
  12. The Country Specific Tariff, to maintain a fully balanced foreign account;
  13. The global money full reserve (CB would have the sole power to lend global money);
  14. The Dispersed Power Democracy (Based on multi-winner elections—The Swiss Model);

Trim: Hardcover w. dust-jacket, 6.14 x 9.21in, 564+ pages

Posted in Uncategorized | Leave a comment

A Growth Strategy

A Growth Strategy
J. H. Moromisato
The Economist, a popular weekly magazine covering global economic and political affairs, manages to keep us abreast of the important news happening throughout the four corners of the world; and it does it with penetrating analysis on a wide array of subjects, and with a style of its own. The magazine’s main weakness, though, is that its editors are strong believers of supply-side economics—that slow, or lack of economic growth is mostly due to lack of investment; thus all their economic advises, which they push with undisguised passion, centers around more investment, especially that from governments, even those, as the U.S., that are already saddled with very high fiscal debts.
In one of its recent issues (May 24th-30th 2014), in its leader “In need of new oomph”, it shows concern about the ‘disappointingly weak… [world’s economy]’, and mentions the standard solutions, “”that the central banks loosen monetary conditions further and keep them loose for longer,” but only to add that “over-reliance on central banks may be a big reason behind the present sluggishness.” It ends up proposing two “more balanced growth strategies”: One, to “boost public investment in infrastructure”, and two, “a blitz of supply-side reforms.” That has never really worked anywhere it had been applied–Remember that the much vaunted U.S. economic growth following the supply-side policies of the Reagan and following administrations went almost exclusively to fill the pockets of the top 1%.
The glaringly obvious solution, to substantially increase taxes on top earners—the 0.5% in the U.S.—is never mentioned, even as a possibility. That would of course be contrary to the editor’s belief in supply-side economics—based on low taxes for the rich.
As I have shown in my recent book, “A Theory of Tax Fairness”, unfair taxation, especially in the U.S., is the biggest cause of reduced economic demand at both ends of the income scale: the very rich do not want to consume their income; and the poor lack the income needed to consume. In addition, insufficient taxes prevent the government from filling such demand gap. Higher taxes on the very rich will increase government spending, increase the level of employment, and provide the poor with sufficient income to increase their own demand; that is the virtuous cycle that leads to economic growth.

Posted in Uncategorized | Leave a comment

My Review of Thomas Piketty’s “Capital in the Twenty-First Century”

I posted the first part of my review on

Capital-My Review I

And here is the second and last part:

(J. H. Moromisato, 4/26/2014)

Part II.

Following on the convoluted footsteps of Adam Smith, after Karl Marx had pushed Smith’s ideas to the limits of their own absurdity, Mr. Piketty follows in his book the ups and downs of capital and income for a couple of centuries, and throughout four of the world largest economies (the U.S., France, U.K., and Germany), but including sporadic references from Japan, China, Greece, Netherlands, and the Scandinavian countries, to ‘universalize’ his findings—perhaps forgetting his own finding that “the history of income and wealth is always deeply political, chaotic, and unpredictable”. And in the process of describing the new data, he manages to resuscitate sundry ‘ad-hoc models’ that ‘explains’ particular sets of data—e.g. “our findings suggest that skyrocketing executive pay is fairly well explained by the bargaining model”. I found that part of the book somewhat illuminating, mostly for its detailed historical association.

The last of the four parts that make up the book is dedicated to taxation and fiscal debt. He concludes that taxes higher than 80 percent would be desirable (particularly in a large country as the U.S.):

“The evidence suggests that a rate on the order of 80 percent on income over $500,000 or $1 million a year not only would not reduce the growth of the US economy but would in fact distribute the fruits of growth more widely …

Nevertheless, it seems quite unlikely that any such policy will be adopted anytime soon.” (p. 513)

He is even more pessimistic that his proposal to solve the ‘fiscal debt’ problem—the application of a ‘wealth-tax’ of up to 20 percent, at a global level—would ever be adopted.

In Part I of my review, I revealed the basic flaws in the concepts of capital and labor; that ‘capital’ was invented—or more precisely, plagiarized from A. R. Jacques Turgot—by Adam Smith, only to avoid using the concept of money as an economic factor. Mr. Picketty toes the line on capital quite faithfully throughout 576 pages of his book; he even ‘explains’ why the mention of money, in the literature for example, which was in vogue in the 1800s, went out of fashion because of the bouts of inflation in the 20th century—that could have changed the perception of the currency, but certainly not that of money. Nevertheless, the very last six lines he wrote in the book go like this:

“Yet it seems to me that all social scientists, all journalists and commentators, all activists in the unions and in politics of whatever stripe, and especially all citizens should take a serious interest in money, its measurement, the facts surrounding it, and its history. Those who have a lot of it never fail to defend their interests. Refusing to deal with numbers rarely serves the interests of the least well-off.” [The End]

He seems, belatedly, to be following on the footsteps of John M. Keynes—who died before his break with capitalism was completed. There is still hope for Mr. Picketty!

Posted in Uncategorized | Leave a comment

Complete Text of “A Theory of Tax Fairness”

Editorial Description

The “A New Theory of Tax Fairness” stipulates that the only fair tax allocation is a fully progressive one; where tax rates are progressive—increase gradually—from 5% for middle income taxpayers, all the way to 99% for extraordinarily high income taxpayers—those in the top 0.5% of income.

The justification for higher tax rates on higher incomes is the following: If everybody had more or less the same income, everybody would be obliged to pay at the same tax rate; but, since the income distribution in the U.S. is highly skewed, those in the lower income brackets cannot be asked to pay anywhere near the average tax rate, which is close to 20% of gross income. Therefore, those making incomes larger than average, are required to pay a rate higher than the average, in order for the fiscal budget to be balanced.

A second reason to impose a higher tax rates on the rich is the realization that they constitute a social cancer, which grows and grows at the expense of the rest of the population; causing unemployment and a slowdown in the economic activity. Such accelerated growth is clearly unsustainable. Only an extended period of higher taxes on the rich—comparable to those prevalent during the post-war era—may succeed in slowing down such malignant growth.

A Theory of Tax Fairness

Posted in Uncategorized | Leave a comment

New Book Announcement

It is not Inequality, It is A Social Cancer What is Consuming Our Nation and Only Higher Taxes on the Very Rich May Slowdown Its Growth, Claims a Denver Economist

Press Release for “A Theory of Tax Fairness”



Posted in Uncategorized | Leave a comment

New Beginning

I haven’t posted anything in the last several months: I was busy working on several new books–One, “The Money-Sovereignty Recovery Act (A Bill Proposal)”, is already on sale, on most online bookstores, while the second one, “A Theory of Tax Fairness”, is awaiting for the printer’s proof.

The New Beginning of the title is my commitment to begin periodic posting on this website–at least once-a-month.

I believe, strongly, that a good understanding of true economics–as opposed to conventional or mainstream economics–is crucial for the well-being and prosperity of our country, and indeed for that of the entire world. If you agree with me on this, or would like to know more about it, please leave your comments, I promise to reply promptly.


Dr. Jorge Moromisato

Posted in Uncategorized | Leave a comment

Announcement of New Website

I’ve just started a new website at

It will contain ideas–mostly my own–about politics, democracy, economics, weather-control, space-exploration, energy, transportation, and any other that may strike my fancy in the future.

If you are looking for inspiration, or are just bored with the same-old, same-old, check it out.

J. M.


Posted in Uncategorized | Leave a comment

ALL Our Fiscal Problems Can Be Solved FOR GOOD, with NO Tax Raises, Spending Cuts, or ‘Sequester,’ Says Denver Economist

Summary: By the simple exercise of its constitutional power to create money, exclusively, government could increase its revenues and decrease its interests spending by a total near $2 trillion per year. Currently, this power is being usurped by the private financial system that has created almost the entire stock of money that circulates in our economy—around $50 trillion. There are no plausible excuses anymore to delay our government’s recovery of its money creating constitutional power.


Posted in Uncategorized | Leave a comment

Cover Letter to the MSR Proposal

It includes quotations from John Adams and from Abraham Lincoln.

MSR Cover Letter

Posted in Uncategorized | Leave a comment