Heterodox
Credit Writedowns
-
Obama the Conservative vs Trump the Revolutionary
I was thinking about this topic this morning and I wanted to run it by you. The genesis of it all was an interview I did with Rohan Grey and Kevin Muir on Real Vision regarding MMT. And one conclusion I drew – partially motivated by the debate – is that Millennials face a very different world than Gen X or baby boomers did. I think that means their receptivity to change is different. So I wanted to sketch out how I am thinking about some of...
Read more » -
The Fed’s Pickle
-
The Downside Risk to the Mid-2019 Macroeconomy
-
The Mid-2019 Macroeconomy
-
What the yield curve is signaling about the US economy
-
More negative signals, this time from the economy
-
The convergence to zero trade is back
Cullen Roche: Pragmatic Capitalism
-
My View On: ESG Investing
I write this post with some hesitancy because I suspect that it is going to annoy lots of people. This annoys me because the goal of this post is to emphasize the importance of being objective and emotionally agnostic when we’re investing. I’ll put on my flame retardant suit and see how well I can communicate this view without enraging people. Wish me luck. ESG investing (environmental, social and corporate governance) is a hot new space in...
Read more » -
Seeing Both Sides of the Argument
-
Will Active ETFs Save Active Management?
-
Is Value Investing Dead?
-
Four Fings I Fink I Fink
-
When “Bonds” Aren’t Bonds
-
The Longest Recovery Ever – Does it Matter?
EconoSpeak
-
Pence’s Potemkin Village on the Mexican Border
Merriam Webster defines a Potemkin Village as: an impressive facade or show designed to hide an undesirable fact or condition Mike Pence visited a Potemkin Village in Donna, Texas: Pence also visited a tent-like temporary detention facility in Donna, Texas, that holds unaccompanied children and immigrant families. The new and mostly clean facility stood in stark contrast to the McAllen station Pence later visited. While the Buzzfeed story...
Read more » -
Does Turkish Lira Decline Mean Turkey Leaves NATO?
-
The Condition Of North Korean Conventional Weapons
-
The Rise of Global Innovation by US Multinationals
-
The Expansion Of Assets With Negative Nominal Interest Rates
-
Elliott Maraniss
-
I Think, Therefore I Know: San Francisco Edition
Francis Coppola
-
The Case for People’s Quantitative Easing
Last night, the Resolution Foundation hosted a debate to launch my book, "The Case for People's Quantitative Easing". A great panel consisting of Jagjit Chadha, Director of NIESR; Fran Boait, Executive Director of Positive Money; and James Smith, Research Director of the Resolution Foundation, debated my ideas with immense verve, ably moderated by Torsten Bell, Chief Executive of the Resolution Foundation. You can watch the debate...
Read more » -
The Troubles of Kier
-
European banks and the global banking glut
-
Dissecting the Eurozone’s (lack of) inflation
-
The Abominable Laffer Curve
-
Despair deaths and regional inequality
-
Why targeting productivity is a bad idea
John Quiggin
-
It’s come to this
To say I’m depressed about the current state of Australian politics would be an understatement. But of all the things that depress me, the possibility of a section 44 case against Josh Frydenberg is the most gratuitously awful. If someone had said, ten years ago, that the Australian-born son of a Jewish refugee was ineligible to stand for Parliament because he had failed to secure necessary documents from the neo-fascist government that...
Read more » -
Adani’s silent partners
-
Sandpit
-
Book launch in Melbourne (please plug!)
-
Monday Message Board
-
The three party system after the election
-
Book launch in Melbourne
Mosler Economics
-
Trucking index, Tariffs, Singapore exports, Turkey retail sales
FTR Trucking Conditions Index weakens in May The President is in no hurry because he narrowly views the some $5 billion/mo in tariff revenues as a profit for the US at China’s expense, totally insensitive to the global economic downturn this ‘tax hike’ has created: Trade war to drag on as Trump says long way to go and China strikes hard-line tone
Read more » -
Retail sales, Industrial production, Housing index, Business inventories
-
NY manufacturing, China retail sales, US car sales
-
Manhattan home prices, Capital goods imports, Rails, Euro area industrial production, China imports
-
JOLTS, Manufacturing, rails, Recreational spending
-
Employment, China, Trump speech
-
Small business indicators, China business survey, Car sales, FDI, Euro retail sales
Naked Keynesianism
-
Forty Years of Balance of Payments Constrained Growth and Thirlwall’s Law
From original draft by Thirlwall Thirlwall's seminal paper on the balance of payments (BOP) constrained growth is forty years old. Paul Davidson once referred to the BOP constrained growth as a positive Post Keynesian contribution to economics. The Review of Keynesian Economics (ROKE) will publish soon a special issue with many well-known contributors to the literature, and with a paper by Thirlwall himself.The idea built on the Kaldorian...
Read more » -
Capital Flows to the Periphery: Still ‘push’, but with significantly lower risk spreads
-
Handbook of the History of Money and Currency
-
Catching up and falling behind in historical perspective
-
Argentina, Financial Times and the next default
-
Exchange rates and income distribution in a surplus approach perspective
-
Forget the Natural Rate, says the Head of the Minneapolis Fed
Prime, Policy Research in Macroeconomics
-
The Minor Mystery of the Euro’s Trade Effect
The predilection for More Trade I do not consider an increase in inter-country trade a good thing in and of itself, though that view is common among economists and in the media. For most economists increased trade reflects a putative more efficient international allocation of resources derivative from competition on a global scale. For the media, the enthusiasm frequently involves trade’s alleged employment generating effects, derivative...
Read more » -
Of vaulting ambition, Macbeth, and what GATT Article 24 actually says
-
Thus Spoke the Bond Market
-
International coordination saved the finance sector, but not the world
-
The metaphors of economics and austerity
-
How to transform the EU – and build solidarity between its members
-
Economic Guidelines for a better European Union
Robert Skidelsky
-
Norman’s Last Day
The funeral of Norman Stone took place on Friday 28 June in the Deak Lutheran Church in Budapest. His son Rupert asked me to be a pall bearer and I followed the coffin up the aisle behind the prime minister Viktor Orban. Historians Niall Ferguson and Harold James, among others, eulogised him. My presence was in a sense accidental. I happened to be spending a month in Vienna and I had come over from to Budapest to see him the previous week: on...
Read more » -
From Versailles to the Euro
-
Interview, in House Magazine
-
Has Austerity Been Vindicated?
-
The Good Life After Work
-
No Choice and No Exit for the UK
-
Check back in a few minutes
Azizonomics
-
Bitcoin Is Failing As Money—But Bitcoin Cash Isn’t
Money has three principal functions: as a medium of exchange, as a store of value, and as a unit of account. Secondary attributes that have aided the adoption of various forms of money include interestingness (“Ooh! Look how shiny that gold is!”), uniform divisibility, portability, resistance to counterfeit, and imposeability. That last one is important, because it is what makes state-backed fiat currency the dominant form of money in the...
Read more » -
Don’t Tolerate The Trumpists
-
Yellen: “There Will Be No New Crisis In My Lifetime”
-
Protected Blog › Log in
-
Trump’s Awful Tariff Plans Will Hurt America
-
Immigration Makes Us More Prosperous
-
Trump’s Election Win Shows That The Bank Bailouts And Quantitative Easing Have Failed
Yanis Varoufakis: Thoughts for the Post-2008 World
-
Lagarde at the ECB – my take in The Guardian
Christine Lagarde was a key member of the infamous troika – Greece’s official creditors – who crushed our people’s resistance to perpetual debt bondage. The other key figure alongside the International Monetary Fund’s then managing director was Mario Draghi, president of the European Central Bank, who played a central role in that drama by engineering the closure of Greece’s banks. Now, four years later, Lagarde has been anointed to succeed...
Read more » -
Against extractive practices (social & environmental). Interviewed by Kate Aronoff for DISSENT
-
What the Labour Party-DiEM25 collaboration is all about – speech (audio) by Yanis Varoufakis
-
Ένα μικρό δράμα στο αεροδρόμιο του Παρισιού που πολλά λέει για την κατάσταση της Ευρώπης μας
-
A tiny incident at Paris airport that speaks volumes about our Europe – the whole story
-
How Syriza’s capitulations allowed the Greek right to escape the dustbin of history – The New Statesman
-
MeRA25 as the only ray of hope on the day the recalcitrant Greek Right returned to office – Election Night message
Multiplier Effect
-
Remembering Nina Shapiro
Jan Kregel | March 15, 2019 We are grieved to announce that Nina Shapiro, Professor of Economics Emeritus at St. Peter’s College, passed away on March 6. Nina was one of the first Levy Institute Visiting Scholars and a major contributor to the field of post-Keynesian economics. She passed away last week at the age of 71 from complications due to cancer. Nina was best known for her work on the...
Read more » -
Big Guns Shooting Holes in the Sky
-
Join Us for the 28th Annual Hyman P. Minsky Conference
-
This Time Is Different: Wray on Modern Monetary Theory
-
Bad Faith and the US Census
-
A Better Way to Think about the “Twin Deficits”
-
On Modern Monetary Theory and Some Odd Twists and Turns in the Evolution of Macroeconomics
Azizonomics
-
Bitcoin Is Failing As Money—But Bitcoin Cash Isn’t
Money has three principal functions: as a medium of exchange, as a store of value, and as a unit of account. Secondary attributes that have aided the adoption of various forms of money include interestingness (“Ooh! Look how shiny that gold is!”), uniform divisibility, portability, resistance to counterfeit, and imposeability. That last one is important, because it is what makes state-backed fiat currency the dominant form of money in the...
Read more » -
Don’t Tolerate The Trumpists
-
Yellen: “There Will Be No New Crisis In My Lifetime”
-
Protected Blog › Log in
-
Trump’s Awful Tariff Plans Will Hurt America
-
Immigration Makes Us More Prosperous
-
Trump’s Election Win Shows That The Bank Bailouts And Quantitative Easing Have Failed
Multiplier Effect
-
Remembering Nina Shapiro
Jan Kregel | March 15, 2019 We are grieved to announce that Nina Shapiro, Professor of Economics Emeritus at St. Peter’s College, passed away on March 6. Nina was one of the first Levy Institute Visiting Scholars and a major contributor to the field of post-Keynesian economics. She passed away last week at the age of 71 from complications due to cancer. Nina was best known for her work on the...
Read more » -
Big Guns Shooting Holes in the Sky
-
Join Us for the 28th Annual Hyman P. Minsky Conference
-
This Time Is Different: Wray on Modern Monetary Theory
-
Bad Faith and the US Census
-
A Better Way to Think about the “Twin Deficits”
-
On Modern Monetary Theory and Some Odd Twists and Turns in the Evolution of Macroeconomics
Robert Skidelsky
-
Norman’s Last Day
The funeral of Norman Stone took place on Friday 28 June in the Deak Lutheran Church in Budapest. His son Rupert asked me to be a pall bearer and I followed the coffin up the aisle behind the prime minister Viktor Orban. Historians Niall Ferguson and Harold James, among others, eulogised him. My presence was in a sense accidental. I happened to be spending a month in Vienna and I had come over from to Budapest to see him the previous week: on...
Read more » -
From Versailles to the Euro
-
Interview, in House Magazine
-
Has Austerity Been Vindicated?
-
The Good Life After Work
-
No Choice and No Exit for the UK
-
Check back in a few minutes
Robert Skidelsky
-
Norman’s Last Day
The funeral of Norman Stone took place on Friday 28 June in the Deak Lutheran Church in Budapest. His son Rupert asked me to be a pall bearer and I followed the coffin up the aisle behind the prime minister Viktor Orban. Historians Niall Ferguson and Harold James, among others, eulogised him. My presence was in a sense accidental. I happened to be spending a month in Vienna and I had come over from to Budapest to see him the previous week: on...
Read more » -
From Versailles to the Euro
-
Interview, in House Magazine
-
Has Austerity Been Vindicated?
-
The Good Life After Work
-
No Choice and No Exit for the UK
-
Check back in a few minutes
Yanis Varoufakis: Thoughts for the Post-2008 World
-
Lagarde at the ECB – my take in The Guardian
Christine Lagarde was a key member of the infamous troika – Greece’s official creditors – who crushed our people’s resistance to perpetual debt bondage. The other key figure alongside the International Monetary Fund’s then managing director was Mario Draghi, president of the European Central Bank, who played a central role in that drama by engineering the closure of Greece’s banks. Now, four years later, Lagarde has been anointed to succeed...
Read more » -
Against extractive practices (social & environmental). Interviewed by Kate Aronoff for DISSENT
-
What the Labour Party-DiEM25 collaboration is all about – speech (audio) by Yanis Varoufakis
-
Ένα μικρό δράμα στο αεροδρόμιο του Παρισιού που πολλά λέει για την κατάσταση της Ευρώπης μας
-
A tiny incident at Paris airport that speaks volumes about our Europe – the whole story
-
How Syriza’s capitulations allowed the Greek right to escape the dustbin of history – The New Statesman
-
MeRA25 as the only ray of hope on the day the recalcitrant Greek Right returned to office – Election Night message
Naked Keynesianism
-
Forty Years of Balance of Payments Constrained Growth and Thirlwall’s Law
From original draft by Thirlwall Thirlwall's seminal paper on the balance of payments (BOP) constrained growth is forty years old. Paul Davidson once referred to the BOP constrained growth as a positive Post Keynesian contribution to economics. The Review of Keynesian Economics (ROKE) will publish soon a special issue with many well-known contributors to the literature, and with a paper by Thirlwall himself.The idea built on the Kaldorian...
Read more » -
Capital Flows to the Periphery: Still ‘push’, but with significantly lower risk spreads
-
Handbook of the History of Money and Currency
-
Catching up and falling behind in historical perspective
-
Argentina, Financial Times and the next default
-
Exchange rates and income distribution in a surplus approach perspective
-
Forget the Natural Rate, says the Head of the Minneapolis Fed
Azizonomics
-
Bitcoin Is Failing As Money—But Bitcoin Cash Isn’t
Money has three principal functions: as a medium of exchange, as a store of value, and as a unit of account. Secondary attributes that have aided the adoption of various forms of money include interestingness (“Ooh! Look how shiny that gold is!”), uniform divisibility, portability, resistance to counterfeit, and imposeability. That last one is important, because it is what makes state-backed fiat currency the dominant form of money in the...
Read more » -
Don’t Tolerate The Trumpists
-
Yellen: “There Will Be No New Crisis In My Lifetime”
-
Protected Blog › Log in
-
Trump’s Awful Tariff Plans Will Hurt America
-
Immigration Makes Us More Prosperous
-
Trump’s Election Win Shows That The Bank Bailouts And Quantitative Easing Have Failed
Multiplier Effect
-
Remembering Nina Shapiro
Jan Kregel | March 15, 2019 We are grieved to announce that Nina Shapiro, Professor of Economics Emeritus at St. Peter’s College, passed away on March 6. Nina was one of the first Levy Institute Visiting Scholars and a major contributor to the field of post-Keynesian economics. She passed away last week at the age of 71 from complications due to cancer. Nina was best known for her work on the...
Read more » -
Big Guns Shooting Holes in the Sky
-
Join Us for the 28th Annual Hyman P. Minsky Conference
-
This Time Is Different: Wray on Modern Monetary Theory
-
Bad Faith and the US Census
-
A Better Way to Think about the “Twin Deficits”
-
On Modern Monetary Theory and Some Odd Twists and Turns in the Evolution of Macroeconomics
Azizonomics
-
Bitcoin Is Failing As Money—But Bitcoin Cash Isn’t
Money has three principal functions: as a medium of exchange, as a store of value, and as a unit of account. Secondary attributes that have aided the adoption of various forms of money include interestingness (“Ooh! Look how shiny that gold is!”), uniform divisibility, portability, resistance to counterfeit, and imposeability. That last one is important, because it is what makes state-backed fiat currency the dominant form of money in the...
Read more » -
Don’t Tolerate The Trumpists
-
Yellen: “There Will Be No New Crisis In My Lifetime”
-
Protected Blog › Log in
-
Trump’s Awful Tariff Plans Will Hurt America
-
Immigration Makes Us More Prosperous
-
Trump’s Election Win Shows That The Bank Bailouts And Quantitative Easing Have Failed
Mosler Economics
-
Trucking index, Tariffs, Singapore exports, Turkey retail sales
FTR Trucking Conditions Index weakens in May The President is in no hurry because he narrowly views the some $5 billion/mo in tariff revenues as a profit for the US at China’s expense, totally insensitive to the global economic downturn this ‘tax hike’ has created: Trade war to drag on as Trump says long way to go and China strikes hard-line tone
Read more » -
Retail sales, Industrial production, Housing index, Business inventories
-
NY manufacturing, China retail sales, US car sales
-
Manhattan home prices, Capital goods imports, Rails, Euro area industrial production, China imports
-
JOLTS, Manufacturing, rails, Recreational spending
-
Employment, China, Trump speech
-
Small business indicators, China business survey, Car sales, FDI, Euro retail sales