Tag: Macroeconomic policy

Airbus and Boeing Are Signing Economic Suicide Pacts With China

By Marshall Auerback, a market analyst and commentator.Produced by Economy for All, a project of the Independent Media Institute Airbus is considering whether or not to shift the assembly process of its latest generation of A330 planes to China as part of a bid to increase its market share in the world’s fastest-growing civil aviation […]

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The #MMT Case for Progressive Taxes

By Steve Roth, the Publisher of Evonomics. He is a Seattle-based serial entrepreneur, and a student of economics and evolution. He blogs at Asymptosis, Angry Bear, and Seeking Alpha. Twitter: @asymptosis. Originally published at Evonomics There’s a curious fact among the current crop of discussions surrounding Modern Monetary Theory: Leading figures in the MMT world […]

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Bill Black: The Day Orthodox Economists Lost Their Minds and Integrity (#MMT)

Yves here. I’m behind reposting Bill Black’s series debunking the barrage of intellectually dishonest attacks being launched against MMT. I’m skipping over his fourth piece, Four “Tells” That Show Krugman Knows He Cannot Win an Honest Debate, but urge you to read it as well. By Bill Black, the author of The Best Way to Rob […]

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Of Course We Can Pay for a Green New Deal, but We Can’t Escape Hard Choices

Yves here. This post on the Green New Deal highlights an issue that hasn’t come close to getting the attention it warrants: the operational and organizational demands. However, it’s odd that the author does not consider revenue sharing, a program launched by that great American socialist Richard Nixon. Nixon believed that the federal government was […]

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Bill Black: Three Natural Experiments Documenting Krugman’s Bias Against MMT

By Bill Black, the author of The Best Way to Rob a Bank is to Own One, an associate professor of economics and law at the University of Missouri-Kansas City, and co-founder of Bank Whistleblowers United. Originally published at New Economic Perspectives Third article in a series on MMT[1] I urge readers to review Scott Fullwiler’s brief […]

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MMT Responds to Brad DeLong’s Challenge

By L. Randall Wray, a professor of economics at Bard College. Originally published at New Economic Perspectives In recent days MMT has captured the attention of anyone who can fog a mirror—even those long thought dead. The critics are out in full force—from the crazy right to the insular left. A short list includes Doug […]

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Money, Digital Cash and Cryptocurrencies: Privacy Matters

Lambert here: Or, see, I could arrange to have my 5G account checked and automagically topped up every hundred yards or so, wherever there’s a 5G tower, right out of my digital wallet. Convenient! Unless the Central Bank were running a bail-in, of course… By Emanuele Borgonovo, Professor, Department of […]

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

By Bill Black, the author of The Best Way to Rob a Bank is to Own One, an associate professor of economics and law at the University of Missouri-Kansas City, and co-founder of Bank Whistleblowers United. Jointly published with New Economic Perspectives First Article in a Series The massive, coordinated assault on […]

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

Yves here. One quibble with an otherwise very informative post. Tymoigne claims that informed commentators understood that S&P’s threat to downgrade the US credit rating, which it delivered on, would be a nothingburger. That’s false. The business and even political press had leading stories virtually daily that a downgrade would […]

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The Incoherence of Larry Summers, a Serious Economist

Yves here. Larry Summers, like Hillary Clinton, does not seem willing to get the message that it would behoove him to retreat from public life. By J. D. Alt, author of The Architect Who Couldn’t Sing, available at Amazon.com or iBooks. Originally published at www.realprogressivesusa.com Lawrence Summers, according to Lawrence […]

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The Green New Deal: Just Focus on What We Do, Not How We Pay for It

By Marshall Auerback, a market analyst and commentator. Produced by Economy for All, a project of the Independent Media Institute Extreme weather variations and increasingly dire scientific reports have spurred surprisingly robust policy proposals for a Green New Deal. Rather admirably, the resolution sponsored by Sen. Ed Markey (D-MA) and Rep. Alexandria […]

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

Yves here. Wray saves one of his best lines for late in the article: “As Kelton puts it, people like Henwood think money grows on rich people.” But boy, is it a hard slog to deal with people who refuse to deal with MMT in good faith. By Randy Wray. […]

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The Yellow Vest Phenomenon and the Radical Right

Yves here. While imitation is the sincerest form of flattery, the gilet jaunes may not be so happy to have right wing yellow vest copy-cats. By Rob May, who is currently completing a PhD. on the radical right at Sheffield Hallam University. His work focuses on British fascism’s links and […]

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Warren Buffett Denounces Deficit Hawkery in His Latest Shareholder Letter

Warren Buffett admitted he was wrong about deficits. Wish he had figured this out before 2009, when the Obama Administration was afraid of launching a big enough stimulus package. From his annual shareholders’ letter: Sadly aside from Axios, I don’t seen this point getting the attention it deserves. But maybe […]

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

By Bill Black, the author of The Best Way to Rob a Bank is to Own One, an associate professor of economics and law at the University of Missouri-Kansas City, and co-founder of Bank Whistleblowers United. Jointly published with New Economic Perspectives Modern Monetary Theory (MMT) continues to advance rapidly.  We are […]

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

Lambert here: Measuring happiness… I can see dystopian possibilities, depending on who’s doing the measuring. And why “happiness” as an index of wellbeing? As opposed, say, to “contentment”? By Sriram Balasubramanian, Consultant Economist, International Finance Corporation. Originally published at VoxEU. There has been considerable criticism of the general reliance on […]

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Two Top US Green Party Economic Advisors Regularly Troll Non-Professional MMT Activists (And Believe That Bankers Rule The World)

By Jeff Epstein, @citizensmediatv on Twitter Copy edited by Ben Szioli (Here is a very abbreviated version of this article in tweet-form.) Two of the top economic advisors for the National US Green Party, Howard Switzer and Joe Bongiovanni, just released a thirty seven minute video dedicated to tearing down […]

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MMT’s Opening

By J. D. Alt, author of The Architect Who Couldn’t Sing, available at Amazon.com or iBooks. Originally published at www.realprogressivesusa.com I recently read in the WSJ that Modern Monetary Theory is defined as the proposition that the federal government can borrow as much money as it needs so long as […]

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How the International Monetary Fund Imposes Its Economic Policies on Argentina

By Celina della Croce of the Independent Media Institute. Cross-posted from Alternet. In September, Argentine president Mauricio Macri accepted the 2018 Atlantic Council’s Global Citizen Award. In attendance were many of world’s neoliberal power players and policy makers, among them International Monetary Fund (IMF) Managing Director Christine Lagarde. Facing the […]

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Michael Hudson: The Vocabulary of Economic Deception

Originally published at Michael Hudson’s website This is Guns and Butter, October 8, 2018. The aim of classical economics was to tax unearned income, not wages and profits. The tax burden was to fall on the landlord class first and foremost, then on monopolists and bankers. The result was to […]

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