Category Archives: The dismal science

Bill Black: MMT Takes Center Stage – and Orthodox Economists Freak

On the remarkable surge of interest in and attacks against MMT by mainstream economists and pundits.

Can the US Treasury Run Out of Money When the US Government Can’t?

Debunking some arguments against MMT by explaining why the US Treasury can’t run out of money.

The Incoherence of Larry Summers, a Serious Economist

Larry Summers as a negative indicator.

The Possible Chinese-US Trade Deal

A review of opinions in the English-speaking blogosphere on the likely content of the US-China deal and the message this agreement sends to the world.

Do Real Estate Markets Make Our Cities Less Livable?

Author Samuel Stein talks about how capitalism shapes cities.

Randy Wray: Response to Doug Henwood’s Trolling on MMT in Jacobin

Doug Henwood’s intellectually dishonest attack on MMT sadly shows how many soi-disant progressives are in fact hostage to neoliberal ideas.

Bill Black: Modern Monetary Theory Is On the March (#MMT)

A recent Wall Street Journal article that tried debunking MMT effectively supported it.

The Financial Crisis Was a Minsky Moment but We Live in Strange Times

Why has Susan Strange been reputationally short changed as an expert in financial instability?

Wellbeing Measurements, Easterlin’s Paradox and New Growth Models: A Perspective through Gross National Happiness

Examines new growth models, especially Bhutan’s, which has pursued gross national happiness, rather than GDP, since the 1970s.

How Imperfect Knowledge Shapes Financial Markets

A discussion of various theories of how financial markets set prices.

On Modern Monetary Theory (#MMT)

Mainstream economists are finally deigning to notice MMT.

How Neoliberalism Is Normalising Hostility

Tracing how neoliberalism has corroded social values.

The Natural Rate of Interest Is Anything But

Central bankers pursue a “neutral” rate that doesn’t exist.