Stephen Torsi (@STorsi) header
Stephen Torsi (@STorsi) profile picture

Stephen Torsi

@STorsi

Shouting at the system won’t make it work | next paradigm | next economy | #Melbswest (Views are my own).

 Melbourne, Victoria
Joined November 2009
  • Tweets2.4K
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Polanyi on the rise of fascism: "the victory of fascism was made practically unavoidable by the liberals' obstruction of any reform involving planning, regulation, or control."
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The 2024 state of the climate report: a report by leading international scientists on recent trends in planetary vital signs. (Ignore at your peril.) academic.oup.com/bioscience/…
Image from Prof. Stefan Rahmstorf 🌏 🦣 (@rahmstorf)
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Stephen Torsi retweeted
Ted Reese (@Grossmanite) profile picture
Ted Reese@Grossmanite17 Mar 2025
The decaying nature of capitalism illustrated by Premier League football shirt sponsors
Image from Ted Reese (@Grossmanite)
Image from Ted Reese (@Grossmanite)
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US Government = Currency Issuer State Gov. = Currency User Local Gov. = Currency User Corporations = Currency Users You, Me = Currency Users If you consider yourself on the Left but don't understand, I've written several substack posts, in layman's terms, to help explain. 🧵
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Reminder: the UK government cannot run out of money. There was never, and will never be a fiscal black hole. The government’s deficit is the non-government’s surplus. The government’s (so-called) “debt” is the non-government’s net financial asset. We’re the non-government
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For the first time since WWII, an extreme right party came 2nd in German national elections. Their rise was fueled by austerity and free market economics. To defeat the far right, we must adopt an anti-fascist economic policy that provides an alternative to the status quo.
Image from Isabella M Weber (@IsabellaMWeber)
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Inequality is an externality
Image from Morten N. Støstad (@MortenStostad)
Image from Morten N. Støstad (@MortenStostad)
Itai Sher (@itaisher) profile pictureItai Sher@itaisher27 Feb 2025
If we ever come out on the other side of this, I think attitudes about the danger of concentration of wealth for democracy will be different than they have been.
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teapaw.org/i/grok/share/yl6mUtP8Q…

How does Stephanie Kelton’s The Deficit Myth disprove much of what Elo...

Stephanie Kelton’s The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy presents a framework rooted in Modern Monetary Theory (MMT) that challenges conventional views on federal spending, the national deficit, the national debt, and taxation—views that have been echoed by figures like Elon Musk and Donald Trump in their recent rhetoric. As of February 28, 2025, Musk and Trump have emphasized the need to slash federal spending and reduce the national debt, with Musk warn...

Answer by Grok
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"Under the proposal...government would not issue interest-bearing securities to the public...Deficits or surpluses in the government budget would be reflected dollar for dollar in changes in the quantity of money." 1/ ~Uncle Miltie
Image from Stephanie Kelton (@StephanieKelton)
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Welcome to the Divided States of Oligarchy: Elon Musk Wealth 2012: $2 billion 2025: $449 billion Jeff Bezos Wealth 2012: $18 billion 2025: $245 billion Mark Zuckerberg Wealth 2012: $44 billion 2025: $217 billion Federal Minimum Wage 2009: $7.25 an hour 2025: $7.25 an hour
Image from Warren Gunnels (@GunnelsWarren)
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Celebrating our first Masters graduates in the Economics of Sustainability program, December 2024. "Honoured to know everybody here and have loved every minute of the learning!" - Christian Reilly, @MMTpodcast Thinking of joining us? Find out more at torrens.edu.au/courses/busin…
Image from Modern Money Lab (@modernmoneylab)
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Between 2002 and 2018, some groups actually increased their wealth on certain measures. For young people and middle Australians, experts from @unimelb @RMIT and @Sydney_Uni say it’s a more sobering picture. theconversation.com/our-anal…
Our analysis of wealth trends suggests Australia’s middle class may be ‘shrinking’

Our analysis of wealth trends suggests Australia’s middle class may be ‘shrinking’

Between 2002 and 2018, some groups actually increased their wealth on certain measures. For young people and middle Australians, however, it’s a more sobering picture.

theconversation.com
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Stephen Torsi retweeted
Mad In The UK (@MITUKteam) profile picture
Mad In The UK@MITUKteam11 Dec 2024
madintheuk.com/2024/12/neuro…
Image from Mad In The UK (@MITUKteam)
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Common Wealth (@Cmmonwealth) profile picture
Common Wealth
@Cmmonwealth26 Nov 2024
The finance deal at #COP29 falls short of what’s required & risks increasing reliance on an extractive private sector-led development model 🔗 Our joint report w/ CPE on an alternative focused on global solidarity, institution building & public investment common-wealth.org/publicatio…

A Compass Rose for National and Global Development: Five Institutional Capacities the G20 Can Build...

For the G20, providing many of the most important global public goods from climate safety to development are public investment and coordination problems.

common-wealth.org
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Stephen Torsi retweeted
CUSP (@CUSP_uk) profile picture
CUSP@CUSP_uk18 Nov 2024
The False Economy of #BigFood—New analysis for @FFC_Commission has found that the costs of Britain’s unhealthy food system amount to £268 billion every year—almost equivalent to the total annual UK #healthcare spend. The report by CUSP co-director @ProfTimJackson provides the first comprehensive estimate of the food-related cost of chronic disease, caused by the current food system. → cusp.ac.uk/themes/aetw/tj_ff…
Image from CUSP (@CUSP_uk)
Image from CUSP (@CUSP_uk)
Image from CUSP (@CUSP_uk)
Image from CUSP (@CUSP_uk)
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"A psychiatric diagnosis.....contains a narrative about what progress or recovery should look like...dictating a person’s sense of self... intruding so deeply into their identity that it may be difficult to imagine an alternative way of being". aeon.co/essays/japans-radica…
Japan’s radical alternative to psychiatric diagnosis | Aeon Essays

Japan’s radical alternative to psychiatric diagnosis | Aeon Essays

This radical movement makes space for people with mental health and other challenges to study (and celebrate) themselves

aeon.co
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"The economy of the future must be a social economy—that is, an economy rooted in social values and community ownership." bit.ly/4eovB7O #economicjustice
Co-op Leaders Consider Future as International Year of the Co-op Nears | Nonprofit Quarterly |...

Co-op Leaders Consider Future as International Year of the Co-op Nears | Nonprofit Quarterly |...

At the annual US co-op conference, sector leaders from across the Americas discuss how to make 2025—the International Year of the Cooperative—meaningful for co-ops.

nonprofitquarterly.org
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'A Liberated Palestine Threatens Global Capitalism' @jasonhickel I turned Jason Hickel's words into a booklet you can download and print for free: celinekeller.com/a-liberated… #FreePalestine
Image from Céline Keller (@krustelkram)
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Stephen Torsi retweeted
Kate Raworth (@KateRaworth) profile picture
Kate Raworth@KateRaworth4 Nov 2024
Its time for Doughnut Economics for University Courses! We cannot wait to publish these 7 slide decks - join the launch on Weds 6 November to hear from students & lecturers on why more resources like these are so urgently needed. Pls RT! @rethinkecon doughnuteconomics.org/global… 1/2
Image from Kate Raworth (@KateRaworth)
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Stephen Torsi retweeted
Patricia (@PatriciaNPino) profile picture
Patricia@PatriciaNPino15 Oct 2024
Like this:
Image from Patricia (@PatriciaNPino)
Patricia (@PatriciaNPino) profile picturePatricia@PatriciaNPino15 Oct 2024
Replying to @PatriciaNPino
Finally, I’d advise lefty commentators that they don’t try to out-mainstream the mainstream. Don’t compete on debt hawkishness, you can’t win. All routes down that path lead to austerity.
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