Heterodox
Bill Mitchell
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The Weekend Quiz – November 17-18, 2018
Welcome to The Weekend Quiz. The quiz tests whether you have been paying attention or not to the blog posts that I post. See how you go with the following questions. Your results are only known to you and no records are retained. 1. Imagine that macroeconomic policy is geared towards keeping real GDP growth on trend. Assume this rate of growth is 3 per cent per annum. If labour productivity is growing at 2 per cent per annum and...
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Australian labour market – treading water this month
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EU forecasts are notoriously poor
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Financial services agreements – the EU as a neoliberal, corporatist project
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British growth strengthens in September quarter 2018
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The Weekend Quiz – November 10-11, 2018 – answers and discussion
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The Weekend Quiz – November 10-11, 2018
Lars P. Syll
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The New Classical counterrevolution
In a post on his blog, Oxford macroeconomist Simon Wren-Lewis discusses if modern academic macroeconomics is eclectic or not. When it comes to methodology it seems as though his conclusion is that it is not: The New Classical Counter Revolution of the 1970s and 1980s … was primarily a revolution about methodology, about arguing that all models should be microfounded, and in terms of mainstream macro it was completely successful … Mainstream...
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My favourite girls (personal)
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Being a class mongrel
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Kalecki and Keynes on the loanable funds fallacy
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In search of causality
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Kalecki on wage-led growth
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The power of self-belief …
Real-World Economics Review
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US drug prices started to explode in the 1980s, contrary to what the NYT tells you
From Dean Baker Austin Frakt had an interesting Upshot piece in the NYT saying that drug spending in the US began to sharply diverge from other countries in the 1990s. This actually is not very clear, since the comparison group dating back to the 1980s is small. I am actually more struck by the explosion in spending in the 1980s, with it nearly doubling as a share of GDP over the course of the decade. Note that drug spending had not been...
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Take a hard look at the skeletons in the mainstream closet!
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Markets, policy, and institutions
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Thomas Sargent discovered his inner Marxist. Really. Two graphs.
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Hype and facts on free trade
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Econometrics: The Keynes-Tinbergen controversy
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Demonetisation in India was a great success – for the Better Than Cash Alliance
Socialdem. 21st Century
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Austerity in Pre-1938 Fascist Austria
From 1933 to 11 March 1938, Austria was ruled by the clerical fascist Fatherland Front in a regime called the Austrian Federal State.The two dictators of Austria in this period were as follows:Dictators of the Austrian Federal State 5 March 1933–25 July 1934 – Engelbert Dollfuss 29 July 1934–11 March 1938 – Kurt SchuschniggAlthough the Fatherland Front had some anti-capitalist elements, the fact is that in power Engelbert Dollfuss and Kurt...
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Academic Agent versus Reality on the US Industrial Recession of 1873–1878
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Academic Agent on Herbert Hoover: A Critique
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Ludwig M. Lachmann on the History of the Austrian School of Economics
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Tony Thirlwall’s Lecture on Nicholas Kaldor
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Darwin, Evolution, the pre-1960s Left and Human Races
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Dinesh D’Souza as a Charlatan
Cullen Roche: Pragmatic Capitalism
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Pop Quiz, Hotshot
Okay, so you all know I am all about operational reality. And although the financial markets and the economy aren’t exactly like the physical world there are certain operational and fundamental aspects to it all. So, I was intrigued by this Tweet by Ron Paul and the lop-sided responses: Okay, so Ron Paul has a certain type of follower, but let’s go through this because it’s good practice. Federal Reserve Notes – Good ‘ol cash. Nothing gives...
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Three Things I Think I Think – What In the Hell is Going On Out There?
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The Pragmatic Voting Guide for the 2018 Mid-Terms
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No, The Government Didn’t Cause Unemployment
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Why Does the Stock Market Rise and Fall?
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Funding in an Endogenous Money System (Nerdy)
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Telling People Not to Panic Isn’t Good Enough
Steve Keen’s Debt Watch
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Australia’s Economy is a House of Cards
By Matt Barrie & Craig Tindale. I recently watched the federal treasurer, Scott Morrison, proudly proclaim that Australia was in “surprisingly good shape”. Indeed, Australia has just snatched the world record from the Netherlands, achieving its 104th quarter of growth without a recession, making this achievement the longest streak for any OECD country since 1970. Australian GDP growth has been trending down for...
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Shutting down membership
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Brexit debate in London May 31st
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Freezing site/Moving to Patreon & Profstevekeen
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What if my analysis is used for evil purposes?
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Can we avoid another financial crisis?
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Support me on Patreon
Peter Cooper: Heteconomist
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Quantity Dynamics with a Job Guarantee
A job guarantee would be a standing offer of a publicly funded job. Spending on the program would adjust automatically and countercyclically in response to take-up of positions. The likely feedback between spending on the program and activity in general is interesting and can be considered within the income-expenditure framework. In what follows, the standard model is modified to find the steady state levels and compositions of income and...
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Condensed Income-Expenditure Model
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Job Guarantee as Nominal Price Anchor
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A Simple Modern Money Tale – Buckwell Island Establishes a Currency
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A Currency-Issuing Government Spends on its Own Terms
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Dynamics of Output and Demand in a Growing Economy
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Growth is Good?
EconoSpeak
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MbS Guilty!
According to the top stories in both the New York Times and Washington Post this morning, somebody in the CIA has leaked that Mohammed bin Salman (MbS) ordered the assassination of journalist Jamal Khashoggi. Of course no sensible observer is remotely surprised, but the Trump administration had been working mightily to deny this obvious fact, with reports surfacing that they were plotting to send Turkish cleric Gulen to Turkey as...
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Is It Not The Economy, Stupid?
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A Serious Centennial
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The Death of Shame
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Siphoning off the Increment to Pay for the Excrement, 2018
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A Washington State Carbon Tax Goes Down in Flames
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US Policy On Iran After The Midterm Elections
The Angry Bear
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Credit remains loose, but big borrowers aren’t interested; real consumer spending may be stalling
By New Deal democrat Credit remains loose, but big borrowers aren’t interested; real consumer spending may be stalling We interrupt this coverage of the ongoing Trump Boom (c) to advise you that two more long leading indicators, while still positive, are showing at least some weaknesses. This story is up at Seeking Alpha. As usual, reading the story over there is both informative for you and a little $$$ revwarding for me. Also, as an aside,...
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Pelosi Challenging Outdated Norms
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Open thread Nov. 16, 2018
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Real wages unchanged, real money supply increases in October
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The AMA is Calling for a Relaxing of CMC Opioid Prescription Restrictions
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Initial markers for a manufacturing slowdown now hit
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Changes in labor bargaining power take up to a decade to be fully effective
Thomas Palley
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Recovering Keynesian Phillips curve theory: hysteresis of ideas and the natural rate of unemployment
Economic theory is prone to hysteresis. Once an idea is adopted it is difficult to change. In the 1970s, the economics profession abandoned the Keynesian Phillips curve and adopted Milton Friedman’s natural rate of unemployment (NRU) hypothesis. The shift was facilitated by a series of lucky breaks. Despite much evidence against the NRU, and much ...
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Brazil is Falling Under an Evil Political Spell
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Job Guarantee Programs: Careful What You Wish For
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Government Spending in the Income-Expenditure Model: Spending Composition, the Multiplier, and Job Guarantee Programs
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Self Plagiarism Dissertation on Essay Writing Service
Sergio Cesaratto: Politica and EconomiaBlog
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E’ una questione di interessi
Pubblichiamo la traduzione su Brave New Europe, una rivista online edita a Berlino, del pezzo su Econopoly. Sergio Cesaratto and Antonio Iero – It’s the interest rate, stupid! November 16, 2018 Economics, EU politics, EU-Institutions, Finance, National Politics Words of reason, but this is about German led social re-engineering in the EU rather than economics. Sergio Cesaratto is Professor of Growth...
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E’ il tasso di interesse, bellezza!
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Intervista a “Pagina uno”
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Intervista a Sergio Cesaratto da New Europe – L’Italia distruggerà l’eurozona?
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Lucio Baccaro su “Chi non rispetta le regole?”
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L’Italia distruggerà l’Eurozona?
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Gianpasquale Santomassimo su “Patria e Costituzione”
John Quiggin
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Brexit: this is it?
Since the Brexit referendum was hailed by many as representative of a new force in global politics, it’s of interest even on the far side of the planet, and I’ve watched the slow-motion train wreck with appalled fascination. So, as far as I can tell, the Brexit deal Theresa May has come up with is pretty much the super-soft version. About the only immediate change it will produce is a return to blue passports in place of the EU burgundy,...
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Monday Message Board
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Armistice Day
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Time to join the generation game? Definitely
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US elections open thread
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Monday Message Board
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Most favoured customer status
Progressive Economics Forum
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Crashed: How a Decade of Financial Crises Changed the World
Book Review Adam Tooze. Crashed: How a Decade of Financial Crises Changed the World. Viking. New York. 2018 The global economic crisis is now more than a decade old, and is far from definitively behind us. Indeed, many fear, with good reason, that the recent, uneven and lethargic global recovery may soon come to an end, and that the next crisis of global capitalism could be even worse than that of 2008. The financial crisis and resulting...
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Abraham Rotstein and the Radical Decade from the mid-sixties to the mid-seventies
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Is there life after NAFTA?
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The New Language of Resource Exploitation: From Staples Dependency to Extraction Empire
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Teaching macroeconomics as though Lehmans didn’t happen
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CLC Senior Economist Job Opening
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Call for federal support of cancelled Ontario basic income project
Thomas Piketty
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« Le Monde » and the billionaires
So, the share ownership of the newspaper Le Monde is going to change. A French investment banker is going to sell his shares to a Czech billionaire who himself made a fortune in coal mining and frequently used tax havens. Should we acquiesce in this situation or is it not time to consider the legal and fiscal regime which would enable us to re-shape the model of the media? Let us be very clear: we in no way wish to question the journalists or...
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Brazil: the First Republic under threat
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Social-nativism, the Italian nightmare
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Europe, migrants and trade
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The Transferunion fantasy
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May 1968 and inequality
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Capital in Russia
Robert Skidelsky
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How Economics Survived the Economic Crisis
[unable to retrieve full-text content]The tenth anniversary of the start of the Great Recession was the occasion for an elegant essay by the Nobel laureate economist Paul Krugman, who noted how little the debate about the causes and consequences of the crisis have changed over the last decade. Whereas the Great Depression of the 1930s produced Keynesian economics, and the stagflation of the 1970s produced Milton Friedman’s monetarism, the...
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Racing the Machine
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Speech on the Budget
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Inconvenient Truths About Migration
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Resurrecting Creditor Adjustment
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Bloomberg interview on central bank independence and European politics
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Bloomberg interview on central bank independence
Philip Pilkington: Fixing Economists
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2017 Presentation on Ireland
My 2017 presentation on Ireland and the Eurozone has been uploaded to YouTube. See the previous post for the link to the full conference, which includes the Q&A. [embedded content] Advertisements
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Presentation on the Irish Economy
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Book Launch in Parliament Earlier This Year
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To What Extent Is Economics an Ideology and to What Extent Is It a Useful Theory?
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Why the Pollsters Totally Failed to Call a Trump Victory, Why I (Sort Of) Succeeded – and Why You Should Listen to Neither of Us
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Achtung! My Book is Coming Out Soon: Here Is a Brief Overview and Some Media Links
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The International Labour Organisation… Almost Correct
New Economics Foundation
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Top 15% of taxpayers should fill NHS funding gap, think tank suggests
New Economics Foundation (NEF) proposes levying £11.1bn for NHS through reform to National Insurance Contributions (NICs) By abolishing the Upper Earnings Limit on NICs, top 15% of taxpayers will pay their fair share for our health system NEF calls for increased investment in preventative measures to ensure a more efficient health system in the future The New Economics Foundation (NEF) today proposes a radical, progressive tax change to...
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Weekly Economics Podcast: One year on from the Grenfell Tower fire
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Take back technology
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Who watches the workers?
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NEF’s Will Brett discusses Network Rail’s railway arch sell-off on BBC 5 Live
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Weekly Economics Podcast: Does the Windrush scandal signal the end of Britain’s ‘hostile environment’?
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NEF in the news, June 2018
Robert Vienneau: Thoughts Economics
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Pattern Analysis for a Fixed Capital Example
Figure 1: A Pattern Diagram1.0 Introduction In this example, I perturb parameters in an example of Bertram Schefold's. I was disappointed in that, as far as I can see, one can analyze the choice of technique in this example by the construction of the wage-rate of profits frontier. As far as I understand, this is not true for joint production in general. I guess I also need to find an example in which the physical life of a machine is at...
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A Linear Program for Markup Pricing
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Extending An Example With Markup Pricing
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Structural Economic Dynamics, Real Wicksell Effects, and the Reverse Substitution of Labor
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A Visualization of the Choice of Technique
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William Nordhaus, 2018 “Nobel” Laureate, On Labor Values
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Paul Romer, 2018 “Nobel” Laureate
Mike Norman Economics
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Brown eyes and blue eyes Racism experiment (Children Session) – Jane Elliott
Human beings are very friendly and gregarious creatures where our communities are very important to us. Through our collectivism we have achieved so much, but we are also very individualistic and competitive. A football team is very collective but individual footballers would love to be the person who scores the goals.Good self esteem helps us to get on in life and to also helps us find us to a loving partner. Feeling that we are worthwhile...
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Thomas Spoehr — Why the U.S. Military Is In Serious Trouble
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Gavin Evans – The unwelcome revival of ‘race science’
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Patrick Armstrong — Psychoanalysing NATO: Confirmation Bias
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ALEXANDER BLUM – A Critique of Jordan B. Peterson
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Peter Cooper — Quantity Dynamics with a Job Guarantee
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Rosemary Bolger — A radical plan to give every Australian a job who wants one is gaining momentum
Naked Keynesianism
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Heterodox Central Banking in the Periphery
Our paper with Esteban Pérez on Prebisch's missions as a Money Doctor during the Fed-led missions directed by Triffin to Paraguay and Dominican Republic has been publish in Research in the History of Economic Thought and Methodology. From the abstract: Traditionally, monetary policy in Latin America followed the recommendations of the missions of the monetary “doctors” who defended an independent central bank and a pro-cyclical monetary...
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The End of Brazilian Democracy
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The Global Crisis: Beyond Secular Stagnation
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Symposium on “Milton Friedman’s Presidential Address at 50”
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The budget, the fragile recovery and the next recession
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US technological hegemony
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Brazil is Falling Under an Evil Political Spell
Prime, Policy Research in Macroeconomics
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Brexit Agreement: a bad deal, a worse Protocol – time to consult the people!
The main body of the draft Withdrawal Agreement is certainly long and detailed – a tribute to the efficiency of the EU’s legal services – but it mainly contains the sort of provisions one would expect for the terms of the separation, and for issues that straddle the departure timeline. There is a transition phase to 31 December 2020, which can be extended, when EU law continues to apply, and the European Court of Justice still has...
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The EU’s dysfunctional fiscal rules empower the far right, both in Italy and elsewhere
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Budget Special: To tackle austerity, Britain needs (at least) a £50 billion increase in public spending
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A private debt story: Republic of Turkey (un-)hires McKinsey
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The slowing economy of the Single Market and NAFTA era
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What Question(s) for a “People’s Vote” Referendum?
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Turkey is business-as-usual for the globalised financial system
Baseline Scenario
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Hey Democrats, the Problem Isn’t Jobs and Growth
It’s inequality. By James Kwak This American Life‘s forays into politics and economics are generally less satisfying than their ordinary storytelling fare. That’s especially true when they try to answer some specific question, like “What is wrong with the Democratic Party?”—the subject of a segment last month. The story did have some telling moments, however, most vividly when moderate Congresswoman Cheri Bustos was trying to pitch the party’s...
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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
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The Importance of Fairness: A New Economic Vision for the Democratic Party
Mosler Economics
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Residential investment, Earnings, Saudi pricing, Vehicle sales
Note the deceleration began with the collapse in oil capex in 2015: The year end tax cut caused a onetime increase in earnings that subsequently flattened out and may now be declining: Seems Saudis are raising prices: Stopped growing a couple of years ago:
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Mtg apps, China exports, Oil
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Consumer credit, Employment
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Housing prices, Consumer confidence, Investment
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Personal income and spending, GDP comments, Philly index
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GDP, Pending home sales, new home sales, leveraged loans, 3M chart
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Housing starts, Mtg purchase apps, Retail sales
Multiplier Effect
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A Better Way to Think about the “Twin Deficits”
L. Randall Wray | November 13, 2018 (These remarks will be delivered today at the UBS European Conference in London.) Q: These questions about deficits are usually cast as problems to be solved. You come from a different way of framing the issue, often referred to as MMT, which—at the risk of oversimplifying—says that we worry far too much about debt issuance. Can you help us understand where...
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On Modern Monetary Theory and Some Odd Twists and Turns in the Evolution of Macroeconomics
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Modern Money Theory: How I Came to MMT and What I Include in MMT
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Register for the 2019 Hyman P. Minsky Summer Seminar
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Minskyan Reflections on the Ides of September
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Wray Guest Lectures, Brazil and Italy (Video)
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The Second International Modern Monetary Theory Conference
Yanis Varoufakis: Thoughts for the Post-2008 World
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Επίδοση Μηνύματος του ΜέΡΑ25 στα γραφεία της ΕΕ στην Αθήνα κατά την Πορεία του Πολυτεχνείου, 2018
[embedded content] ΠΡΟΣ ΤΗΝ ΕΥΡΩΠΑΪΚΗ ΕΠΙΤΡΟΠΗ: ΠΡΙΝ 45 ΧΡΟΝΙΑ ΣΑΝ ΣΗΜΕΡΑ, ΟΤΑΝ ΟΙ ΦΟΙΤΗΤΕΣ ΑΝΤΙΣΤΕΚΟΝΤΑΝ ΣΤΗΝ ΧΟΥΝΤΑ, Η «ΕΥΡΩΠΗ» ΦΑΝΤΑΖΕ ΣΤΟ ΝΟΥ ΟΛΟΚΛΗΡΟΥ ΤΟΥ ΕΛΛΗΝΙΚΟΥ ΛΑΟΥ ΩΣ Ο ΜΕΓΑΣ ΣΥΜΜΑΧΟΣ ΤΟΥ, Ο ΜΕΓΑΣ ΑΡΩΓΟΣ ΤΗΣ ΔΗΜΟΚΡΑΤΙΑΣ. ΤΟΤΕ, ΤΟΝ ΝΟΕΜΒΡΗ ΤΟΥ 1973, ΠΟΤΕ ΔΕΝ ΘΑ ΦΑΝΤΑΖΟΝΤΑΝ ΟΙ ΕΛΛΗΝΕΣ ΔΗΜΟΚΡΑΤΕΣ ΟΤΙ 45 ΧΡΟΝΙΑ ΜΕΤΑ ΤΟ ΣΥΝΘΗΜΑ «ΨΩΜΙ–ΠΑΙΔΕΙΑ–ΕΛΕΥΘΕΡΙΑ» ΘΑ ΓΙΝΟΤΑΝ ΞΑΝΑ ΤΟΣΟ ΕΠΙΚΑΙΡΟ ΕΠΕΙΔΗ ΤΟ...
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The euro and Steve Bannon’s Fascist International – Oxford Union address, 16th November 2018
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Talking to KPMG about Brexit – 27 September 2018
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Η κυβερνητική υποταγή στην ευρωπαϊκή λιτότητα εκτρέφει πολιτικά τέρατα – ΕφΣυν 10 ΝΟΕ 2018
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Behind the closed doors of negotiations with the EU? – The Guardian podcast, November 2018
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Το προεκλογικό πρόγραμμα του ΜέΡΑ25 σε μια εφ’ όλης της ύλης συνέντευξη με τον Γ. Σαχίνη – ΚΡΗΤΗ tv
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DiEM25’s radical Europeanist political agenda – Interviewed by Jacobin’s David Broder
Francis Coppola
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Some governments really are like households
In my last post, I said that the fact that a government can buy anything that is for sale in its own currency is not sufficient to confer monetary sovereignty. A country which is dependent on essential imports, such as foodstuffs and oil, for which it must pay in dollars is not monetarily sovereign. Some people disputed this on the grounds that such a country could earn the dollars it needs through exports. So I thought I would write a post...
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Now state pension ages are equalised, let’s fix the real problems
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The myth of monetary sovereignty
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A Budget Polemic
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Vítor unbound
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Checkmate
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Cake and cherries
New Economic Perspectives
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Amazon’s New NYC and DC Headquarters Bilked the Cities
The contest for Amazon’s HQ2 prompted hundreds of cities to put in tax break and subsidy bids. NEP’s Bill Black appears on the Real News Network and says these deals never pay off for the communities involved. You can view with a transcript here. [embedded content] [Translate]
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An MMT View of the Twin Deficits Debate
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FUTURE DOLLARS
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Trump Probably Engaged in Felony Tax Evasion
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CHANGE THE SUBJECT
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MODERN MONEY THEORY: How I came to MMT and what I include in MMT
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Paying for Hurricanes
Credit Writedowns
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Expect political trench warfare as the economy slows
Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and...
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Countdown to inversion: US Treasury curve flattening has resumed
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Is Trump’s goose cooked on the economy?
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More on the meltdown in oil (and a cut in oil capex)
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Predicting the political economy for the 2020 US presidential election
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Confirming a second global growth slowdown as Trump tries to consolidate power
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The bear market in crude
V. Ramanan: Concerted Action
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Thomas Palley — Brazil Is Falling Under An Evil Political Spell
Thomas Palley — Brazil Is Falling Under An Evil Political SpellThomas Palley:Bolsonaro represents the resurrection of the fascist political tradition. That tradition discards norms of decency, tolerance, compromise and due process whenever they obstruct taking power.He is an open advocate of racism, sexism, torture, and police execution squads. Those views are paired with a neoliberal economic program which aims to savage Brazil’s welfare...
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UNCTAD Trade And Development Report 2018
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Marc Lavoie — Was Hyman Minsky A Post-Keynesian?
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IMF Paper On How Export Sophistication Is The Determinant Of Growth
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Thomas Palley — Government Spending In The Income-Expenditure Model: Spending Composition, The Multiplier, And Job Guarantee Programs
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Jayati Ghosh — The Real Problem With Free Trade
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The New Yorker Profiles Glenn Greenwald
Ann Pettifor: Debtonation
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Yours truly at National Theatre discussion on The Lehman Trilogy
After attending a performance of the Lehman Trilogy, I was honoured to join a panel at the National Theatre on 16th October, 2018 to discuss the play. Readers will know that the play was directed by Sam Mendes, and starred three great actors in all of the complex parts: Simon Russell Beale, Adam Godley and Ben Miles. It was, and is a tour de force, and has now moved to New York. At that invite-only side discussion of the play, an audience of...
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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).
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The BBC’s Cassandras of the Crash
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The Indefatigable Efforts of J. M. Keynes
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On “the policy” and the Governor of the Bank of England
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What Is Wrong with the Bank of England’s Decision Today?
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
Economics for Democratic and Open Societies
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Recovering Keynesian Phillips curve theory: hysteresis of ideas and the natural rate of unemployment
Economic theory is prone to hysteresis. Once an idea is adopted it is difficult to change. In the 1970s, the economics profession abandoned the Keynesian Phillips curve and adopted Milton Friedman’s natural rate of unemployment (NRU) hypothesis. The shift was facilitated by a series of lucky breaks. Despite much evidence against the NRU, and much ...
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Brazil is Falling Under an Evil Political Spell
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Job Guarantee Programs: Careful What You Wish For
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Government Spending in the Income-Expenditure Model: Spending Composition, the Multiplier, and Job Guarantee Programs
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Self Plagiarism Dissertation on Essay Writing Service
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Scholarship Essay Contests 2011 For College Students
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Three Globalizations, Not Two: Rethinking the History and Economics of Trade and Globalization
Michael Hudson
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EVERYTHING YOU THOUGHT YOU KNEW ABOUT WESTERN CIVILIZATION IS WRONG
A Review of Michael Hudson’s new book…. and Forgive Them Their Debts As published on Naked Capitalism by John Siman To say that Michael Hudson’s new book And Forgive Them Their Debts: Lending, Foreclosure, and Redemption from Bronze Age Finance to the Jubilee Year (ISLET 2018) is profound is an understatement on the order of saying that the Mariana Trench is deep. To grasp his central argument is so alien to our modern way of thinking about...
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BBC on Forgive Them Their Debts
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Banking Deep Dive
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Deciphering Geo-Political Games
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Scenes from the Spider’s Web
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The Lehman’s Limp
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The Lehman 10th Anniversary spin as a Teachable Moment
