NIRP has quickly become a consensus policy within the economics establishment. This paper argues that consensus is dangerously wrong, resting on flawed theory and flawed policy assessment. Regarding theory, NIRP draws on fallacious pre-Keynesian classical economic logic that asserts there is a natural rate of interest which can ensure full employment. That pre-Keynesian logic has ...
Thomas Palley considers the following as important: Uncategorized
This could be interesting, too:
David F. Ruccio writes Goosing the golden goose (2 graphs)
Editor writes new issue of WEA Commentaries
Editor writes Brazil
Maria Alejandra Madi writes The neoliberal policies of resilience