Heterodox
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 crisis of the real global economy triggered by the...
Read More »IPA’s weekly links
Guest post by Jeff Mosenkis of Innovations for Poverty Action. A slight, shy, balding, 49-year-old when the 1980 Nobel was announced, Cronin was relieved when the university sent Larry Arbeiter to his home at 7 a.m. to help him handle the deluge of requests for press interviews. Arbeiter, a writer in the university’s press office, suggested that Cronin satisfy all the interview requests at once by holding a 10 a.m. news conference. ”Oh,” Cronin insisted, ”I can’t do it then. I’ve got a 10...
Read More »How governments finance their spending (and its not from taxation).
Readers of this blog may know that Patrick Allen, founder of the Progressive Economy Forum (PEF) invited me to become a member of its distinguished Council in July this year. Other members include Professors John Weeks, Joseph Stiglitz, Stephany Griffiths-Jones, Robert Skidelsky, Daniela Gabor, Danny Darling, Ha Joon Chang and Doctors Johnna Montgomery, Geoff Tily, Will Hutton and Guy Standing. I am now supporting the work of the Council, and periodically writing for the Forum. The...
Read More »‘Deficit Financing’ or Deficit-Reduction Financing?
Related Posts
Read More »Tsipras’s tie – La cravatta di Tsipras in inglese-
New Brave Europe ha tradotto e pubblicato il pezzo sulla Grecia già uscito su Micromega online. Grazie all'amico Methew Rose. Sergio Cesaratto – Tsipras’s tie. What moral can we draw from the Greek crisis? July 15, 2018 Klaus Regling, the head of the eurozone’s bailout fund and a German, concerning the most recent EU “debt relief” for Grecce: “It is the biggest act of solidarity that the world has ever seen” (Reglings motto seems to be:...
Read More »An Analysis of Financial Flows in the Canadian Economy
An essential but perhaps overlooked way of looking at the economy is a sector financial balance approach. Pioneered by the late UK economist Wynne Godley, this approach starts with National Accounts data (called Financial Flow Accounts) for four broad sectors of the economy: households, corporations, government and non-residents. Here’s how it works: in any given quarter or year each sector can be a net borrower or lender, but the sum of the four sectors’ borrowing/lending must equal to...
Read More »Interview with Martin Sandbu
I was interviewed by Martin Sandbu about the nature of money, in particular the importance of borrowers to the creation of money. A video was filmed at Bank Job, a wonderful charity dedicated to a) promoting understanding of money, b) cancelling the debts of the people of Walthamstow and c) using art to both advocate and fundraise. A link to their website is included here. Ann being interviewed by Daniel Edelstyn [embedded content] Related Posts
Read More »Michael Hudson — “Creating Wealth” through Debt: The West’s Finance-Capitalist Road
I kid to this previously, but it was in a list of links. It is important enough to give it its own post.Hudson at his best. It's a must-read. Longish, so save it for the weekend if time is an issue.Michael Hudson — On Finance, Real Estate And The Powers Of Neoliberalism“Creating Wealth” through Debt: The West’s Finance-Capitalist Road— To be delivered at the Peking University, School of Marxist Studies, May 5-6, 2018Michael Hudson | President of The Institute for the Study of Long-Term...
Read More »Bronze Age Redux
Your access to this site has been limited Your access to this service has been temporarily limited. Please try again in a few minutes. (HTTP response code 503) Reason: Exceeded the maximum global requests per minute for crawlers or humans. Important note for site admins: If you are the administrator of this website note that your access has been limited because you broke one of the Wordfence advanced blocking rules. The reason your access was limited is: "Exceeded the maximum global...
Read More »Bronze Age Redux
A GATHERING OF THE TRIBESBRONZE AGE REDUX: On Debt, Clean Slates And What The Ancients Have To Teach UsThe Michael Hudson Interview One of the most compelling sequences in the Oscar-winning Inside Job, Charles Ferguson’s indictment of Wall Street’s role in the 2008 global financial meltdown, involved not the banker culprits but their supporting cast. These were the Ivy League accomplices. Ferguson mightily skewered these economists for the cover they gave the sub-prime...
Read More »