Category Archives: Macroeconomic policy

EU Elite on the (Far) Right Side of History

Why the design of the Eurozone has produced right wing policies.

Leaving Money on the Table: Declining Responsiveness and the Productivity Slowdown

Job reallocation is an important determinant of productivity. This column uses US data to show that a decline in the degree of job reallocation in response to shocks is behind the overall fall in the rate of reallocation over the past decades.

The Political Representation of the European People

A discussion of whether rising political pressure can produce needed economic and democratic reforms.

Interview: Teaching Graham Elwood Modern Money, and How the Progressive Media Gets It Wrong

A case study in teaching modern money to a progressive who unknowingly has swallowed neoliberal economic ideas.

Richard Murphy: The Debate on the Proper Role of the Bank of England, Continued

A discussion about the Bank of England raises questions about the role of central banks generally.

Why Italy’s Crisis Is the Left’s Crisis

Why framing the political struggle in Italy as mainstream versus populist shifts focus away from the most important issue, Eurozone reform, where the battle is mercantilists versus Keynesians.

Richard Murphy: New Funding Structure for the Bank of England Suggests That the Treasury Thinks the Proverbial Is Going To Hit the Fan

The Bank of England is being readied to print, as in deficit spend, in the face of a hard or crash out Brexit.

Don Quijones: How the ECB Helped Spain “Recover” Faster than Italy from the Crisis

How “financial repression,” as in negative real interest rates, whacked Italy and boosted Spain.

Italy Holds A Mirror to a Broken Europe

The election of a right-wing, populist government in Italy exposes the economic and democratic shortcomings of the European project and its nationalist rivals.

The Roots of Argentina’s Surprise Crisis

How reforms by Argentina’s President Macri helped kick off a currency crisis.

Bill Black: Democrats Should Reject Bernanke’s ‘Wily E. Coyote’ Criticism of Trump’s Deficits

Bernanke engages in a new episode of ideologically motivated economic prognostication.

The Italian Mini-BOT Debate

More discussion of how well a proposed Italian parallel currency, the mini-BOT, might work in practice.

Italy Bars Landing of Ship With 629 Migrants as Finance Minister Takes Euro Exit, Parallel Currency Off Table

Why the self-styled reformist government in Italy is already looking like a paper tiger.

The Battle for Money Has Begun

Why the current fights over money, banking, and Modern Monetary Theory look like new ways to achieve bad neoliberal ends.

Worrying About the Deficit Is So 17th Century

Deficit hawks have been wrong for even longer than you thought.