Misunderstanding the Great Recession
How many of the textbook explanations of the Great Depression were proven wrong, yet despite that, were misapplied to the Great Recession.
Read more...Category Archives: Macroeconomic policy
Michael Hudson on Debt Deflation, the Rentier Economy, and the Coming Financial Cold War
Michael Hudson speaks with Justin Ritchie on his favorite topics, such as debt deflation, austerity, classical economists on rentiers, and the coming financial cold war.
Read more...Mirabile Dictu: Lead Story at Bloomberg Gives a Thumbs Up to MMT
Bloomberg gives a fairminded and reasonably detailed report on MMT.
Read more...Silvia Merler: ECB TLTRO 2.0 – Lending at Negative Rates
On Thursday, the ECB surprised observers by announcing a new series of four targeted longer-term refinancing operations (TLTRO II) to be started in June 2016. The incentive structure of the programme has changed: on one hand, this TLTRO II could be the first case of lending at negative rates; on the other hand, the link with lending to the real economy might have been weakened.
Read more...Gerald Friedman Responds to the Romers on the Sanders Plan: Different Models, Different Politics
Gerald Friedman explains that the difference between his results and that of the Romers on the Sanders plan is the result of using different models.
Read more...Galbraith: Attack on Sanders’ Economic Plan By Former Chairs of the Council of Economic Advisors Irresponsible
Jamie Galbraith discusses in some detail why Gerald Friedman, a Clinton supporter who gave a favorable review of Sanders’ economic plan, is owed an apology by his detractors.
Read more...China Continues to Focus on Growth, Not Reform
Growth remains a top priority in China, but how will the central government achieve it?
Read more...James Galbraith Describes Major Forecast Failure in Model Used by Romers to Attack Friedman on Sanders Plan
James Galbraith examines the used forecast by Christine Romer and David Romer to attack Gerald Friedman’s favorable review of Sanders’ plan. He’d already shellacked the methodology in a 2014 book.
Read more...Bill Black: Krugman Triples Down on His Smear of Friedman and Bernie
Krugman has really lost it.
Read more...Krugman and His Gang’s Libeling of Economist Gerald Friedman for Finding That Conventional Models Show That Sanders Plan Could Work
Krugman has made maliciously false statements about economics professor Gerald Friedman. Demand that the New York Times issue a correction and that Krugman apologize.
Read more...The ECB’s Original Sin and Franco Modigliani’s Long View
Franco Modigliani foresaw how the ECB and the Eurozone architecture had an anti-growth bias and proposed remedies that were ignored.
Read more...Michael Hudson Discusses the Federal Reserve and the Global Fracture
Explaining how the Federal Reserve and central bank policies like QE, saved the banks at the expense of wrecking the real economy.
Read more...Randy Wray: The Value of Redemption (Debt Free Money, Part 3)
Repeat after me: creation comes before redemption. Always!
Read more...Will German Sovereign Debt “Bail In” Scheme Destroy the Eurozone?
Germany is keen on implementing a sovereign bail-in plan that is certain to precipitate a crisis, but more likely a banking crisis than a breakup.
Read more...Former Central Banker William White on the Failure of QE, Danger of Negative Interest Rates
Former Bank of International Settlements chief economist William White criticizes central bank policies sharply, particularly negative interest rates.
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