Category Archives: Macroeconomic policy

The Implementation Flaw in Warren’s Wealth Tax

There are better ways to skin fat cats than Warren’s wealth tax.

Secular Stagnation: The Limits of Conventional Wisdom

The debate over secular stagnation continues, yet orthodox economists are loath to admit that the needed fix is more demand, which means more government spending.

Keynes Was Really a Conservative

“The class war,” said Keynes, “will find me on the side of the educated bourgeoisie.”

Kalecki, Minsky, and “Old Keynesianism” Vs. “New Keynesianism” on the Effect of Monetary Policy

Larry Summers, a barometer of leading edge conventional wisdom, questions Keynesianism as a distortion of Keynes and for its overconfidence in monetary policy.

Axios: What’s the Actual Cost of Not Addressing Climate Change?

bunking some arguments against Sanders’ climate change program.

Summers and the Road to Damascus

Why pushing on a string has never worked: monetary policy has never been robustly effective in promoting economic recovery or growth.

Marshall Auerback: We Are Clearly Living in a Bizarro Capitalism Era—And It’s Time to Change How the World Manages Economies

Central banks don’t have the tools to address our problems. It will take well-constructed fiscal policy to set right our topsy-turvy economy.

Cheerleading for Austerity

Readying austerity talk just in time to condition voters for 2020.

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.