New Economic Perspectives

By L. Randall Wray Bernie Sanders has an ambitious agenda. Too ambitious, insist his critics (including, especially, surrogates of Hillary Clinton). He would break up the big banks, reverse the redistribution of income and wealth to the top (that accelerated under the triple whammy of the Bush-Clinton-Bush administrations), restore and improve our nation’s infrastructure, and provide employment and better wages at the bottom. The critics proclaim that his programs cannot “pay for...

Bill appears on In Conversation with WAMC’s Alan Chartock. You can listen here. [Translate]

Bill Black, adviser to Bernie Sanders, and Hillary Clinton supporter Paul Hodes appear on The Real News and discuss whether the Dodd-Frank legislation is effective at preventing systemic risk from Wall Street monopolies. You can view the video below or on The Real News‘ site with a transcript. [embedded content] [Translate]

By Eric Tymoigne Money is the blood of capitalist enterprise and finance is about money now for money later. As such a well-developed financial system is essential for economic activity in a capitalist economy. The broader the range of promissory notes that can be issued, the more accommodative the financial system is to the demands of the productive system. Households cannot fund the purchase of a house with a credit card and there is no point in buying groceries with a 30-year mortgage....

By J.D. Alt I’m pleased to announce the book The Millennials’ Money is now available. Many of its parts were first vetted here at NEP, and readers’ comments and suggestions were extremely helpful in finalizing the text. There is a nice endorsement on the back cover by Stephanie Kelton. A deeply felt thank you to NEP and all of its readers! The book is structured in three sections: The introduction, “The Ideology of Money Scarcity—a Brief History,” is an overview of how, after 1971, the U.S....

By William K. Black April 11, 2016     Bloomington, MN This is the second part of my series on how Hillary and Bill Clinton and Paul Krugman have pivoted in response to Bernie Sanders’ series of electoral wins and are racing hard right on finance and crime.  In my first column I wore my criminology “hat” to explain how Bill was disinterring outrageous (false and racist) positions that Hillary and he had once championed.  This was all the more bizarre because Hillary and Bill had recently...

By Reno Berkeley Crossposted from Inquisitor.com An expert in banking corruption and finance has joined the Bernie Sanders campaign. William K. Black, an associate professor at the University of Missouri-KC, is Bernie Sanders’ new economic advisor. Black was one of the central figures in exposing and prosecuting corruption in the savings and loan crisis from the late 1980s and mid-1990s. His addition to the Sanders campaign brings important knowledge in laws pertaining to finance and...

By William K. Black April 8, 2016     Bloomington, MN (Crossposted from Huffington Post. Postscript added for NEP) Remember several weeks ago when Hillary Clinton was complaining that Democrats did not consider her a “progressive?”  Bernie Sanders’ big win in Wisconsin ended that tactic and propelled Paul Krugman and Hillary and Bill Clinton to race to the right, inadvertently proving Bernie’s point that they are not progressives on the key issues. In the last week, Hillary and her...

By William K. Black April 7, 2016     Bloomington, MN I am now officially an economic advisor to Senator Sanders, and this column reflects some of that advice.  Part of my advice is not to take money from Wall Street felons.   (I am not taking credit for Bernie’s decision — at most I supported a decision he had already made over a year ago.)  One of the reasons I reinforced Bernie’s decision was witnessing the problems President Obama experienced given his taking very large contributions...

By William K. Black We could, of course, retire the Bank Whistleblowers United’s Lemons title – for ignoring or trivializing elite fraud – by awarding it permanently to the Department of Justice (DOJ).  The current award is particularly close to our hearts because it involves DOJ ignoring the sworn testimony of one our founders, Richard Bowen.  DOJ did not ignore Bowen’s testimony because it was discredited, but because it was proven accurate – and should have led to the indictment of...