Italy’s New Fiscal Plans: The Options of the European Commission
What could the European Commission do if it decided to discipline Italy for defying budget rules?
Read more...Category Archives: Macroeconomic policy
Randy Wray: Modern Monetary Theory – How I Came to MMT and What I Include in MMT
A short history of MMT and and overview of core principles.
Read more...Joseph Stiglitz and Alexandria Ocasio-Cortez Talk Social and Economic Justice
Alexandria Ocasio-Cortez continues to be in the limelight. Is she getting her political footing yet? And will she live up to her “democratic socialist” brand, or is she getting more cozy than necessary with establishment Democrats?
Read more...Why the Public Debt Should Be Treated as an Asset
Debunking the misconceptions about the role of debt of a currency issuer like the US or UK.
Read more...J.D. Alt: Paying for Hurricanes
A reminder that the budgetary “paying for things” framing is a way to deny resources to citizens.
Read more...Why Central Banks Should Not Be Inflation Nutters
Central banks need to stop fighting the last war.
Read more...Jumping the Abyss: Marriner S. Eccles and the New Deal, 1933-1940
An in-depth look at Marriner Eccles’ ideas and policies, and how well they have withstood the test of time.
Read more...Victorian Central Banks and the Myth of Independence
Central banks have not always been independent, inflation targeting bodies, and to treat them as such is to obscure their complex histories and alternative institutional constellations.
Read more...The Economy Under Trump: Business Optimism Combined with Inequality
Gerald Epstein dissects the Trump Administration happy talk about the state of the economy.
Read more...America’s Broken Retirement System is a Recipe for Political Chaos
Bolstering, rather than cutting, Social Security is the solution to America’s retirement train wreck.
Read more...Market Power, Low Productivity, and Lagging Wages: The Real Drivers
To understand labor productivity—and growing inequality—you have to look at the “dual economy”
Read more...Yanis Varoufakis: Greece Was Never Bailed Out and Remains in Debtor’s Prison – Bild Zeitung Interview
Yanis Varoufakis revisits the Greece 2015 debt negotiations and describes how Greece still wears the austerity yoke.
Read more...Could Turkey Trigger the Next Global Financial Crisis?
Why the currency crisis in Turkey is a due in part to the failure to take adequate corrective measures after the global financial crisis.
Read more...Richard Murphy: Writers of Labour’s “Fiscal Rule” Lash Themselves to the Austerity Mast
Labour’s economists show their Third Way colors and advocate austerity-generating policy rules that might as well have been penned by former Treasury Secretary, later Citigroup vice chairman Bob Rubin.
Read more...Austerity Caused Brexit
Yves here. Lambert sent me a copy of the underlying paper on Brexit voting patterns a week ago, suggesting I write it up. I sat on it due to focusing on seemingly more pressing stories, plus being behind on administrativa due to travel. I’ve embedded the article at the end of this post. This finding […]
Read more...