As Daniel Neilson describes in this crucial introduction, this is what occupied the mind of the iconoclast economist Hyman Minsky. Rather than a standard academic overview, Neilson’s book is more biographical. He situates Minsky in time and place, exploring a thinker who was forever responding to events around him.... By narrating Minsky’s theoretical developments in their historical context, Neilson introduces with clarity a body of economic thought that has become very influential in the...
Read More »The disempowerment of markets in the euro area — Dirk Ehnts
The ECB is aware of its role and is ready to play it: “The Governing Council will do everything necessary within its mandate.”This is the end of financial markets’ power over national governments. This is a very positive development that makes a repeat of the austerity policy after the financial crisis at least less likely. The other problem that countries see is the Commission’s deficit limits. However, these have been suspended for the time being. It is up to politicians to adjust these...
Read More »Focus should be on strong recovery, not budget surplus — Stephen Grenville
Out of paradigm with MMT and confused, even though superficially correct. Hopefully his thinking no longer reflects that the Reserve Bank of Australia.Australian Business ReviewFocus should be on strong recovery, not budget surplus Stephen Grenville, non-resident fellow at the Lowy Institute and former deputy governor at the Reserve Bank of Australia
Read More »Republicans Want to Sacrifice Your Social Security But Not Their Tax Cuts — David Atkins
MMT, sort of.Washington MonthlyRepublicans Want to Sacrifice Your Social Security But Not Their Tax Cuts David Atkins
Read More »Michael Hudson — Dollar Recycling and Military Encirclement
On 22-24 November 2019, International Seminar on Land, Finance, and De-dollarization was held in Macau, China, which was co-organized by Global University for Sustainability, Lingnan University, Southwest University, and the Federal University of Espirito Santo.... Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismDollar Recycling and Military Encirclement Michael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street...
Read More »Zero Hedge —— Indian And Chinese Troops Clash In Fistfight At Disputed Border
Going mano a mano.Zero HedgeIndian And Chinese Troops Clash In Fistfight At Disputed BorderTyler Durden
Read More »Russia’s Crisis Policy — Gordon M. Hahn
Some myths are being propagated: that Putin is hiding, sloughing off responsibility to others, and providing little to no support to the population or sectors thereof during the crisis. The reality is quite different and more complex, but the crisis bodes ill for both Putin, Russia, and the world. It remains unclear who will remain standing once the multiple pandemic, oil, and economic crises have had their say.... Fairly detained look at Russia's political and economic response. Russian...
Read More »What is money? An explanation — Richard Murphy
Warren Mosler sums it up pithily: Modern money as state-issued currency is a tax credit. Richard Murphy unpacks this a bit.Tax Research UKWhat is money? An explanation Richard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy ForumAlso from Richard Murphy I would say that MMT is well-defined by the MMT economists. Most...
Read More »Recession Measures and NBER — Bill McBride
NumbersCalculated RiskRecession Measures and NBERBill McBride alsoAngry BearElementary Statistics Review — Hypothesis TestingRobert Waldmann
Read More »The Risks – Know Them – Avoid Them — Erin Bromage
Now that the US is opening up for business, some useful information from a biology prof whose speciality is immunology.Stay safe during the transition.The Risks - Know Them - Avoid Them Erin Bromage | Associate Professor of Biology at the University of Massachusetts Dartmouth.
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