New Economic Perspectives

MMT for People in a Hurry By J.D. ALT POST #3  (Post #1, Post #2) OPERATION #2—The federal government buys something big for the collective good. NOTE: A much appreciated comment at Naked Capitalism re: Post#1 suggested that the term “Combustion Chamber” was misleading since the “fuel” (money) put into the chamber is not burned as in a motorcycle engine but is redistributed to other accounts. I was planning to point this out further into the narrative but the comment showed that would...

NEP’s Bill Black appears on The Real News Network and explains how the administration’s stance on Trump’’ taxes is illegal and what the possible consequences could be—or should be. You can view with transcript here. [embedded content]

MMT for People in a Hurry By J.D. ALT POST #2  (See POST #1 here) FIRST: Prime the fuel-pumps As it stands, our diagram-machine has no fuel (“money”) in it, so it can’t operate. We could go through an exercise to imagine how it could prime itself in order to begin operations. But this would lead to other topics and considerations which would only distract us from our present goal—which is to simply understand HOW the diagram-machine operates—and how, and when, in the course of its...

MMT for People in a Hurry By J.D. ALT I’m expanding an earlier essay into a short, book-length piece I hope will be useful in the unfolding public debate about MMT. The piece will utilize the “operation” of a “diagram-machine” to illustrate how our modern money system actually works. My hope is that it will be accessible and easily understood by people who have a genuine interest in MMT, but little time or patience to delve into its operations and implications. I’m posting the narrative...

NEP’s Bill Black appears on The Real News Network and describes how OSHA’s few underfunded inspectors can’t do their jobs, and prosecutors don’t prosecute businesses for non-compliance. You can view here with a transcript. [embedded content]

Crossposted from Phil Pilkington’s Blog – Fixing the Economists. Readers are probably aware that there is quite a lot of discussion of Modern Monetary Theory (MMT) and the potential for fiscal experimentation batting around at the moment. Others have weighed in on this already, and I have little to add. It is striking, however, that most of the push-back — where there is push-back — is not focused on trying to discredit the idea that we should engage in fiscal experimentation. Indeed,...

NEP’s Bill Black appears on The Real News Network and demolishes the notion that we can’t prosecute banksters with the laws we now have in place. You can view here with transcript.[embedded content]

NEP’s BIll Black appears on The Real News Network and examines the historical context of Warren’s bills for easier prosecution of banks and corporate leaders. You can view with transcript here.[embedded content]

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]

NEP’s Bill Black appears on acTVism from Munich (in English) to define and talk about the role of a financial regulator. The discussion then turns to financial crisis – S&L debacle as well as the 2008 crash.[embedded content] [Translate]