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.
Read more...Category Archives: Macroeconomic policy
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.
Read more...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.
Read more...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.
Read more...Michael Hudson Discusses the IMF and World Bank: Partners In Backwardness
Michael Hudson explains how the IMF and World Bank support US hegemony.
Read more...Revealed: Americans Care More About Social Needs Than Deficits
A recent poll from the Democracy Collaborative and YouGov reveals that most Americans are ready to spend more for social needs, even if it raises the deficit.
Read more...Richard Murphy: For MMT (Long and Wonkish)
MMT opponents try presenting their objections as technical, but they really are political.
Read more...Does Japan Do MMT?
In case you had any doubts, Japan is not following MMT economic policy prescriptions.
Read more...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.
Read more...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?
Read more...How to Pay for the War
Updating a classic Keynes discussion of war financing for MMT and the Green New Deal.
Read more...ZEN and the Art of Modern Money, Part 3 (MMT)
More MMT for people in a hurry.
Read more...ZEN and the Art of Modern Money, Part 2 (MMT)
MMT for people in a hurry.
Read more...ZEN and the Art of Modern Money (MMT)
Working through a primer on MMT.
Read more...The Next US Recession Is Likely to Be Around the Corner
Business economists argue that the length of an expansion is a good indicator of when a recession will hit.
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