The FT Says It’s Time for the Bank of England to Start Direct Funding of the Government: Modern Monetary Theory Has Won the Day
Modern Monetary Theory has a new convert. Too bad Americans are behind the curve.
Read more...Category Archives: Economic fundamentals
Capitalism Has Failed in Fighting Coronavirus
The problem of policies aimed to return the economy to what it was before the virus hit is this: Global capitalism, by 2019, was itself a major cause of the collapse in 2020.
Read more...Services Sector Falls Off Cliff: First Data Points from the Eurozone Where Lockdowns Started Earlier
Early data from Europe says the damage to the services sector is as deep as many feared, and bodes ill for the US, with its poor and sluggish economic responses.
Read more...The New Inequalities and People-to-People Social Protection
Yves here. On the one hand, this post contains many examples of how people with resources are assisting those hit hard by the coronavirus crisis. On the other, it is also all too apparent that in most cases, these charitable acts only make a dent in the problems most face, although admittedly shows of concern […]
Read more...The Coronavirus Pandemic Has Opened the Curtains on the World’s Next Economic Model
COVID-19 has exposed flaws in the global supply chain economic model; advances in technology have rendered it obsolete.
Read more...Coronavirus, Control, Irritability, and Guilt
A coronavirus confessional of sorts.
Read more...The EU’s Green Deal: Bismarck’s ‘What Is Possible’ versus Thunberg’s ‘What Is Imperative’ in the Age of Covid-19
A detailed look at the Green Deal: bold goals, with a shortage of money, transition plans, and social democracy.
Read more...The Coronavirus Depression Requires A New Approach to Budgeting
Coronavirus spending illustrates the foolishness of legislators believing their own numbers.
Read more...Informal Workers in the Time of Coronavirus
Not surprisingly, people who don’t have regular jobs will be very hard hit by the coronavirus crisis. And there are a lot of them.
Read more...Coronavirus: More Wheels Coming Off
Some scattered but nevertheless telling signs of coronavirus impact.
Read more...The First Victims of the Oil Price War
Why Russia has the upper hand in the oil price war, and what that might mean for US shale players.
Read more...Radical Imagination: Imagining How the World of Finance Really Works
Michael Hudson rings the changes on some of his favorite themes: the logic of ancient debt jubilees. and the role of finance in contemporary rent extraction.
Read more...Tax Justice and Modern Monetary Theory – A Guide
Does Modern Monetary Theory take tax justice for granted?
Read more...The Coronavirus Stimulus Bill Is a $2 Trillion Slush Fund for Washington Cronies
Why you should hate the coronavirus “stimulus” bill.
Read more...Covid-19 Hits the Dual Economy: Incomes Destroyed at the Bottom, Profits Supported at the Top
Why preserving (big) corporate profits will not bail out the economy.
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