Category Archives: Macroeconomic policy

Neoliberalism: Political Success, Economic Failure

Now, after nearly half a century, the verdict on neoliberalism is in.

Syriza, R.I.P.

The rule of the “radical left” Greek party Syriza came to an end earlier this month after it had abandoned its promise of reform.

Michael Hudson: U.S. Economic Warfare and Likely Foreign Defenses

How the US has used its economic muscle to defend its hegemony and the rest of the world is looking to claw power back.

The ‘New Right’ Is Not a Reaction to Neoliberalism, but Its Offspring

Why the success of the far right shows that neoliberalism is very much alive and well.

Taxes for Revenue Are Obsolete

In a 1946 classic, New York Fed chairman Beardsley Ruml explains why taxes aren’t necessary for Federal spending and argues against corporate income taxes.

Martin Wolf v. Trumponomics Whiffs Due to Fealty to Orthodoxy

The Financial Times’ Martin Wolf has a go at Donald Trump, but manages to score an own goal as far as his profession is concerned.

The Myth of Expansionary Austerity

If you hold mainstream economic views, it was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.

The Global Capital Flows Cycle and Its Drivers: Not Only a US Monetary Policy Story

Financial shocks matter more than US monetary policy. Domestic policies may still mitigate the cycle of global capital flows at the country level.

Michael Hudson Discusses the IMF and World Bank: Partners In Backwardness

Michael Hudson explains how the IMF and World Bank support US hegemony.

Richard Murphy: For MMT (Long and Wonkish)

MMT opponents try presenting their objections as technical, but they really are political.

Does Japan Do MMT?

In case you had any doubts, Japan is not following MMT economic policy prescriptions.

Why Martin Wolf Is Wrong on Modern Monetary Theory (MMT)

A shame that someone like Martin Wolf does get the core idea of MMT but still really can’t or won’t accept its implications.

How Shortening the Work Week Can Help Reduce Carbon Emissions

The four-day week as a management technique vs. cutting back working hours to reduce consumption: One, both, or neither?

How to Pay for the War

Updating a classic Keynes discussion of war financing for MMT and the Green New Deal.