Tag Archives: MMT

Getting the word out.Favorite line: Gar Alperovitz: Let me just say one thing. I’m from Racine, Wisconsin. I had an aunt who ran a little tiny Jewish bakery. She used to say, “You know, during the Depression there wasn’t any money around. Then they decided to run a war, and there was all kinds of money around. Why can’t we do that when we want to do that?” real economicsHow are you going to pay for it? Why Understanding Monetary Theory and Policy Is Critical For the Left Tony WikrentSee...

I have written about the concept of dynamic efficiency before. The most recent blog post on this theme was – The ‘truth sandwich’ and the impacts of neoliberalism (June 19, 2018) – which examined how social mobility across generations has been declining as a result of the decades of entrenched unemployment driven by neoliberal austerity biases. I also outlined the proposition in this blog post – US labour market reality debunks mainstream view about structural impediments (January 15,...

You know, an Italian won the British Open golf championship yesterday (the first Italian to ever win a golf major) because of the uncertainty surrounding Brexit negotiations. The causality is impeccable. I am sure about that, although it might take me a while to work it out. But if a British golfer cannot win their Open Championship (Rose tied for second, two shots back) then it must be because of Brexit. Everything else that goes wrong is, so why not the golf? It is the same when three...

MMT.FT Alphaville (requires free registration)Goodbye to Sunday morning economics Brendan Greeley

The article had a picture of the latest progressive political star – Alexandria Ocasio-Cortez with the caption that she: ... backs the view that restraints on a government’s spending are primarily set by the amount it can borrow without fuelling inflation. Progressive types then thought it was useful to retweet this incessantly for a few days.My response – I certainly hope that Alexandria Ocasio-Cortez does not back that construction of the limits on spending for a currency-issuing...

Summary an all-star cast. The Next SystemMoney Matters— Why Monetary Theory and Policy Is a Critical Terrain For the Left ht Footsoldier in the comments

Reuters reported (July 8, 2018) that the awful Madame Lagarde was in France last week lecturing people on how the “joint euro zone budget could be designed with conditions so that it does not become a no-strings transfer of rich countries’ cash to poorer members”. Meanwhile, Jürgen Habermas was lecturing all and sundry on how a “frightened retreat behind national borders cannot be the correct response to … the politically uncontrollable functional imperatives of a global capitalism that is...

The Second International Conference  of Modern Monetary Theory Friday - Sunday, Sept 28 - 30, 2018 The New School, New York City  Register Now Program Contact:  [email protected] Organizers: The Modern Money Network  The Binzagr Institute for Sustainable Prosperity  The UMKC Economics Department  The New School Public & Urban Policy Doctoral Student Association

The Right discovers it is up against MMT. Is Stephanie Kelton Superwoman?The American InterestThe Right’s Straw Left Ben Judah

MMT economists advocate that the central government – the federal government in the U.S. – can and should employ every person who desires to work but cannot find work in the private sector at a living wage. This living wage, the MMT supporters point out, would function as a minimum wage, since no person would work for a private employer who offers a wage lower than the wage the government offers. Assuming such a reform could be implemented under the capitalist system, if your search for...