Michael Hudson: Socialism, Land and Banking: 2017 Compared to 1917
Why did socialism lose out in the 20th century to rentiers promoting neoliberalism?
Read more...Category Archives: Macroeconomic policy
Hy Minsky, Low Finance: Modern Money, Civil Rights, and Consumer Debt
MMT’s ultimate contribution to consumer finance is showing a world beyond the “Let Them Eat Debt or Let Them Eat Cash” approaches.
Read more...Jared Bernstein Shows the Costs of Not Understanding Sovereign Currencies
Jared Bernstein, like his fellow fauxgressives, endorses deficit hysteria instead of policies based on how our money system works.
Read more...Puerto Rico Is Getting Squeezed, and It Will Cost All of Us
Puerto Rico illustrates why implementing austerity policies in weak economies backfires.
Read more...How to Use Fiscal and Monetary Policy to Make Us Rich Again
On the obvious and high cost of abandoning fiscal policy in favor of monetary policy…save for asset owners.
Read more...After Neoliberalism, What Next?
The neoliberal order has failed and is creating more and more political and social upheaval. Some elements of a new system may be in sight.
Read more...How to Break Austerity-Induced Stagnation?
The costs of sticking with obviously failed austerity policies just keep rising.
Read more...Is Productivity Growth Becoming Irrelevant?
Measured GDP and gains in human welfare eventually may become entirely divorced.
Read more...The Real Cause of the Italian Bank Bailouts and Euro Banking Troubles
How a banking union has created deep divisions that undermine the Eurozone’s stability.
Read more...Debts That Cannot Be Paid Will Not Be
Capitalism is probably already insolvent.
Read more...Where Do Pro-Social Institutions Come From?
How Do Countries ’Get to Denmark‘?
Read more...Don Quijones: People Not Amused by EU Efforts to “De-Cash” their Lives
EU survey results show respondents overwhelmingly oppose proposals to impose an EU-wide cash ceiling that would throttle use of cash.
Read more...Inequality: How We Got Here, and What Should Be Done
More discussion of the causes of rising inequality and possible remedies.
Read more...BIS Warns on Household Debt
Credit booms tend to go hand in hand with a misallocation of resources – most notably towards the construction sector – and a slowdown in productivity growth, with long-lasting adverse effects on the real economy.
Read more...Yanis Varoufakis: Latest Eurogroup Statement Keeps Greece on the Austerity Rack
The Eurogroup doubles down on Greek debt extend and pretend, to its members political advantage and at great cost to Greek citizens.
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