Heterodox
Ann Pettifor: Debtonation
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Ann Pettifor 1970-01-01 00:00:00
[unable to retrieve full-text content]
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Britain’s Flagging Economy: is Brexit to blame?
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1919: Keynes’s revolutionary plan for the global economy
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The Crisis: causes and consequences.
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Yours truly at National Theatre discussion on The Lehman Trilogy
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10 years after – and nothing has changed.
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How governments finance their spending (and its not from taxation).
Baseline Scenario
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Jump-Starting America
Can the United States grow faster, create more good jobs, and genuinely spread opportunity? Yes: by investing more in science and technology, by placing those investments strategically around the country, and by creating an Innovation Dividend – paying cash to all Americans every year, based on the success of public investments in the tech sector. What technologies should receive support? Which cities have the potential to become the next...
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Hey Democrats, the Problem Isn’t Jobs and Growth
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Hey Democrats, the Problem Isn’t Jobs and Growth
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Tax Rates and Entrepreneurship
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Tax Rates and Entrepreneurship
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A New Economic Vision, in 27 Words
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A New Economic Vision, in 27 Words
Credit Writedowns
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Credit Writedowns 1970-01-01 00:00:00
[unable to retrieve full-text content]
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No catalysts for global recession as Brexit gets long extension
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Brexit: Theresa May hints at Article 50 revocation
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Jobs report is a Goldilocks report this month. Here’s why
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Are interest rates the most effective economic policy tool?
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The global economic supertanker is not unsinkable but…
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On global bond markets predicting recession, collapsing net interest margins and Sweden as the model
Cullen Roche: Pragmatic Capitalism
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Was the GFC a Once-in-a-Lifetime Event?
Someone emailed me with a very good question yesterday: “Did we really go through a once-in-a-lifetime Great Recession in 2008, or is the global economy overleveraged to an even greater extent, just in different ways?” My basic view of the Great Financial Crisis is that is was not unique in that it was a debt crisis, it was unique in that it was a debt crisis attached to such a significant household asset. Back in the old days we used to have...
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Hard Truths for the Inflation Truthers
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Redemption
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My View On: Minsky’s Financial Instability Hypothesis
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Bringing Back the Pragcap Discussion Forum!
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Odd Lots Podcast – Talking MMT
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Three Things I Think I Think – Yield Curves and Stuff
EconoSpeak
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USMCA, the International Trade Commission, and Kevin Hassett
Tracey Samuelson of Market Place writes: USMCA would slightly boost U.S. economy, says ITC report - On Thursday, the International Trade Commission released its assessment of the projected economic impact of USMCA, President Trump's proposed replacement for NAFTA. The report shows the new deal is projected to boost the U.S. economy by .35% when fully implemented. I will to read this report after I get over laughing at the latest from Menzie...
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That One Sentence
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What Is The “Collusion Delusion,”?
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Childrens’ Day And The UN Convention On The Rights Of Children
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UN Convention on the Rights of the Child
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Economics, the Realm of Money and the Significance of GDP Growth, with an Application to Child Labor
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Is Stephen Moore a Gold Bug?
Economics for Democratic and Open Societies
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What’s Wrong With Modern Money Theory (MMT): A Critical Primer
Recently, there has been a burst of interest in modern money theory (MMT). The essential claim of MMT is sovereign currency issuing governments do not need taxes or bonds to finance government spending and are financially unconstrained. MMT rests on a triad of arguments concerning: (i) the macroeconomics of money financed budget deficits, (ii) the ...
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Macroeconomics vs. Modern Money Theory: Some Unpleasant Keynesian Arithmetic
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Inequality and Stagnation by Policy Design: Mainstream Denialism and its Dangerous Political Consequences
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The Fracturing of Globalization: Implications of Economic Resentments and Geopolitical Contradictions
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Recovering Keynesian Phillips curve theory: hysteresis of ideas and the natural rate of unemployment
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Brazil is Falling Under an Evil Political Spell
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Job Guarantee Programs: Careful What You Wish For
Francis Coppola
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Lessons from the Long Depression
A version of this post appeared on Pieria in December 2013. In my post “The desert of plenty”, I described a world in which goods and services are so cheap to produce that less and less capital is required for investment , and so easy to produce that less and less labour is required to produce them. Prices therefore go into freefall and there is a glut of both capital and labour. This is deflation. There are two kinds of deflation....
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The desert of plenty
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Keynes and the death of capitalism
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Weird Is Normal
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Why Central Bankers Don’t Understand Inflation
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Inflation Is Always And Everywhere A Political Phenomenon
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A Fine Example of Crypto Ignorance
John Quiggin
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Today’s the Day
It’s now April 23 in the US, the official release day for Economics in Two Lessons. That’s nearly eight years after I started work on the book. I think it’s been worth the wait. The painful process has produced something better than I originally planned, with plenty of help from commenters here and elsewhere. According to Amazon, the book is often bought along with Crashed, by Adam Tooze, which is great company to be in. [Begin plug] If...
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Monday Message Board
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Economics in Two Lessons, coming soon
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Freedom and the Commissioner
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Eye of the needle, again (crosspost from Crooked Timber)
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Sandpit
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Monday Message Board
Mosler Economics
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Housing starts, Unemployment claims, China
Still heading south: In addition to tightening requirements, states have found other means to keep people from receiving benefits: Has the economy made it arder to get unemployment benefits? Not every terminated employee is eligible to receive unemployment benefits. You have to earn a minimum amount to even qualify; you cannot quit or be fired for cause, as defined by Illinois law; and you must actively search for alternative employment....
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Euro area PMI, Architecture billings index, Philly Fed, Retail sales, Inventories, Fed report, Equity prices and earnings forecasts
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Trade, Housing affordability, China, BOJ equity buying, Retail comment
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Housing index, Industrial production, Euro export growth
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Housing, Freight, Infrastructure, Trump advice, MMT hysteria, Cooling real estate markets
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Automatic cuts, China vehicle sales, Greenspan on wealth effect
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Freight, Pensions, ECB, Germany
Naked Keynesianism
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Some unpleasant Keynesian arithmetic
By Thomas I. Palley (Guest Blogger)The last decade has witnessed a significant revival of belief in the efficacy of fiscal policy and mainstream economics is now reverting to the standard positions of mid-1970s Keynesianism. On the coattails of that revival, increased attention is being given to the doctrine of Modern Money Theory (MMT) which makes exaggerated claims about the economic costs and capability of money-financed fiscal policy. MMT...
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What’s Wrong With Modern Money Theory (MMT): A Critical Primer
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The Mueller Report
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Bretton Woods and corporate defaults
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Galbraith on MMT and the Hyperinflation Boogeyman
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Lara-Resende and MMT in the Tropics
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MMT and its Discontents: Again (Wonkish and Longish)
New Economic Perspectives
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Faked Emissions May Send Volkswagen CEO to Prison
NEP’s Bill Black appears on The Real News Network and examines the corrupt corporate worlds of Germany and the U.S. and how Trump ignores corporate malfeasance. You can view with a transcript here.[embedded content]
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Financial Crisis & Fraud – A Guide with former Financial Regulator William Bill Black
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New York Sues Big Pharma for Opioid Crisis
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Tom Friedman Just Noticed that the UK “Has Gone Mad” (Part 2)
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Tom Friedman Just Noticed that the UK “Has Gone Mad” (Part 1)
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Democracies With Sovereign Currencies Can Dance
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MMT, Models, Multidisciplinarity
Progressive Economics Forum
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Ontario Electricity VII – Committee Testimony
The PC Government in Ontario has introduced Bill 87 which would eliminate the rate-based borrowing to subsidize electricity prices and replace it with Government borrowing. Last week’s Provincial Budget estimates that the required borrowing to subsidize electricity prices for 2018/19 was $2.8 billion. It is likely to exceed $3 billion in 2019/20. Ontario is the only jurisdiction in North America where the Government would directly...
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Low taxes are nothing to brag about
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Jason Kenney’s tax plan full of holes
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Populism in the Time of Neoliberalism
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Help please!
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Income Inequality and Redistribution in Venezuela
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Technology and Democracy (continued)
Robert Skidelsky
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No Choice and No Exit for the UK
The United Kingdom’s protracted attempt to leave the European Union has upended the two illusions by which the world has lived since the end of the Cold War: national sovereignty and economic integration, the twin end points of history, according to Francis Fukuyama’s celebrated 1989 essay. Juridically, the world consists of 191 sovereign states, which freely enter into treaties, agreements, and associations to order their relations with one...
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Check back in a few minutes
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The AI Road to Serfdom?
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Rhymes from Central Europe
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Brexit: Withdrawal Agreement and Political Declaration
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The Continuing Agony of Brexit
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The Case for Compensated Free Trade
V. Ramanan: Concerted Action
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Anthony Thirlwall On Nicholas Kaldor On Joining The European Union
There’s a new book, The Elgar Companion To John Maynard Keynes, edited by Robert W. Dimand, Harald Hagemann. Chapter 76 titled Nicholas Kaldor is written by Anthony Thirlwall.Thirlwall reminds us of Kaldor’s dislike to enter the common market in the 70s:The Labour Party lost power in 1970 and Kaldor had more time to campaign on two main public issues which concerned him greatly. The first was the acceptance by economists and policy-makers of...
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Jason Hickel Features Again On Citations Needed
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What’s Left On “Open Borders”
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Dimitri B. Papadimitriou, Michalis Nikiforos And Gennaro Zezza — Can Redistribution Help Build A More Stable Economy?
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Alan Shipman: Wynne Godley, A Biography ‼️
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Two Thomas Palley Papers On Neochartalism
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Graham Gudgin On Exiting The EU
Azizonomics
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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...
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Don’t Tolerate The Trumpists
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Yellen: “There Will Be No New Crisis In My Lifetime”
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Protected Blog › Log in
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Trump’s Awful Tariff Plans Will Hurt America
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Immigration Makes Us More Prosperous
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Trump’s Election Win Shows That The Bank Bailouts And Quantitative Easing Have Failed
Multiplier Effect
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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...
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Big Guns Shooting Holes in the Sky
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Join Us for the 28th Annual Hyman P. Minsky Conference
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This Time Is Different: Wray on Modern Monetary Theory
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Bad Faith and the US Census
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A Better Way to Think about the “Twin Deficits”
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On Modern Monetary Theory and Some Odd Twists and Turns in the Evolution of Macroeconomics
Prime, Policy Research in Macroeconomics
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Economic Guidelines for a better European Union
Whether the UK finally leaves or remains a Member of the EU, progressives are generally united in viewing the existing Treaty and legislative rules on economic policy as dangerously dysfunctional. In their second joint paper on the theme, emeritus Professor John Weeks and PRIME co-director Jeremy Smith set out proposals for “Economic Guidelines for a Better Union - facilitating policies that enhance not constrain EU economic policy”. The...
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TV discussion “Eurozone Future: Is the eurozone really on the brink?”
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UK economy 2010-2018 – the devastating impact of the age of austerity
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Are We Heading towards a Synchronised Global Slowdown?
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Why the left must now unite against Brexit
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The economic consequences of Brexit?
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To Secure a Future, Britain Needs a Green New Deal
Mosler Economics
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Housing starts, Unemployment claims, China
Still heading south: In addition to tightening requirements, states have found other means to keep people from receiving benefits: Has the economy made it arder to get unemployment benefits? Not every terminated employee is eligible to receive unemployment benefits. You have to earn a minimum amount to even qualify; you cannot quit or be fired for cause, as defined by Illinois law; and you must actively search for alternative employment....
Read more » -
Euro area PMI, Architecture billings index, Philly Fed, Retail sales, Inventories, Fed report, Equity prices and earnings forecasts
-
Trade, Housing affordability, China, BOJ equity buying, Retail comment
-
Housing index, Industrial production, Euro export growth
-
Housing, Freight, Infrastructure, Trump advice, MMT hysteria, Cooling real estate markets
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Automatic cuts, China vehicle sales, Greenspan on wealth effect
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Freight, Pensions, ECB, Germany
Yanis Varoufakis: Thoughts for the Post-2008 World
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DiEM25 and the European Parliament election in the UK: A proposal
DiEM25 members are currently debating our collective stance viz. the European Parliament elections in the UK (that, remarkably, may or may not take place). Since 2016, DiEM25 has been on the right side of history regarding Brexit. Our position was the result of a boisterous internal dialogue and a series of all-member votes that have decided our stance. Members have access to our internal Forum where this illuminating debate takes place. To...
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Πρώτα ήρθαν για τον Ασάνζ – ΕφΣυν 29 ΑΠΡ 2019
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Ραδιοφωνική παρουσίαση του ΜέΡΑ25 στο ΛΑΜΙΑ FM1
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A Dream of Spring: Emma Steiner interviews DiEM25’s David Adler
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First they came for Assange…
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Το 2015 σε τρία λεπτά
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On Julian Assange’s arrest & extradition to the US – In conversation with Phillip Adams on ABC Late Night Live, 15 APR 2019
Francis Coppola
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Lessons from the Long Depression
A version of this post appeared on Pieria in December 2013. In my post “The desert of plenty”, I described a world in which goods and services are so cheap to produce that less and less capital is required for investment , and so easy to produce that less and less labour is required to produce them. Prices therefore go into freefall and there is a glut of both capital and labour. This is deflation. There are two kinds of deflation....
Read more » -
The desert of plenty
-
Keynes and the death of capitalism
-
Weird Is Normal
-
Why Central Bankers Don’t Understand Inflation
-
Inflation Is Always And Everywhere A Political Phenomenon
-
A Fine Example of Crypto Ignorance
New Economic Perspectives
-
Faked Emissions May Send Volkswagen CEO to Prison
NEP’s Bill Black appears on The Real News Network and examines the corrupt corporate worlds of Germany and the U.S. and how Trump ignores corporate malfeasance. You can view with a transcript here.[embedded content]
Read more » -
Financial Crisis & Fraud – A Guide with former Financial Regulator William Bill Black
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New York Sues Big Pharma for Opioid Crisis
-
Tom Friedman Just Noticed that the UK “Has Gone Mad” (Part 2)
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Tom Friedman Just Noticed that the UK “Has Gone Mad” (Part 1)
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Democracies With Sovereign Currencies Can Dance
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MMT, Models, Multidisciplinarity
V. Ramanan: Concerted Action
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Anthony Thirlwall On Nicholas Kaldor On Joining The European Union
There’s a new book, The Elgar Companion To John Maynard Keynes, edited by Robert W. Dimand, Harald Hagemann. Chapter 76 titled Nicholas Kaldor is written by Anthony Thirlwall.Thirlwall reminds us of Kaldor’s dislike to enter the common market in the 70s:The Labour Party lost power in 1970 and Kaldor had more time to campaign on two main public issues which concerned him greatly. The first was the acceptance by economists and policy-makers of...
Read more » -
Jason Hickel Features Again On Citations Needed
-
What’s Left On “Open Borders”
-
Dimitri B. Papadimitriou, Michalis Nikiforos And Gennaro Zezza — Can Redistribution Help Build A More Stable Economy?
-
Alan Shipman: Wynne Godley, A Biography ‼️
-
Two Thomas Palley Papers On Neochartalism
-
Graham Gudgin On Exiting The EU
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
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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
Economics for Democratic and Open Societies
-
What’s Wrong With Modern Money Theory (MMT): A Critical Primer
Recently, there has been a burst of interest in modern money theory (MMT). The essential claim of MMT is sovereign currency issuing governments do not need taxes or bonds to finance government spending and are financially unconstrained. MMT rests on a triad of arguments concerning: (i) the macroeconomics of money financed budget deficits, (ii) the ...
Read more » -
Macroeconomics vs. Modern Money Theory: Some Unpleasant Keynesian Arithmetic
-
Inequality and Stagnation by Policy Design: Mainstream Denialism and its Dangerous Political Consequences
-
The Fracturing of Globalization: Implications of Economic Resentments and Geopolitical Contradictions
-
Recovering Keynesian Phillips curve theory: hysteresis of ideas and the natural rate of unemployment
-
Brazil is Falling Under an Evil Political Spell
-
Job Guarantee Programs: Careful What You Wish For