Tag Archives: MMT

About what one would expect from Bloomberg.BloombergLeading Democrats Are Backing One of the Most Radical Economic Plans in Years Katia Dmitrieva with assistance by Sahil Kapur, and Jordan Yadoo

I was going to write about the situation in Timor-Leste after its national elections were held on Saturday. But I will hold that over for another day as I get some more information. So today, I think we can learn a lot from an issue raised in the Bloomberg article (May 14, 2018) – Kuroda’s Stimulus Saves Japan $45 Billion, Easing Debt Pressures – which discusses the QE program in Japan and introduces several of the basic errors that mainstream financial commentators make when discussing...

Must-read. What we have there, then, are two different conceptions of a JG. On the one hand, it might be a policy which helps capitalism function better (Keynes). But on the other, it might be a form of transitional demand – a policy which whilst fulfilling human needs is one that cannot actually be sustainably adopted by capitalism and is instead a stepping stone towards socialism (Marx). I’m honestly not sure which it is. I would not put it in terms of capitalism and socialism but...

I was running late yesterday and the blog post was already rather long so I left some matters concerning central banks for today. The question we address briefly today is what is the role of central banks in all these trade transactions. Does an export surplus country face an ever increasing money supply as central banks provide the counterparty service to traders who sell in a foreign currency but want their own currency (such as a manufacturer who incurs costs in say Yen but sales revenue...

Welcome the new kid on the block.John LauritsModern Money Systems: Understanding the Monetary Mechanics of Value Part 1Modern Money Systems: Understanding the Monetary Mechanics of Value Part 2ht Richard in the comments

By Michael Hoexter, Ph.D. [The Young Turks (TYTNetwork) is an online news network that has a wide reach among mostly progressives and independents in the United States with viewership in the hundreds of thousands of unique visitors per day and over 2 million views per day.  Cenk Uygur is its founder, CEO, and leading on-camera commentator.] Dear Cenk, John Iadarola, Ana Kasparian, and the Young Turks Team, I’m a Young Turks subscriber, member, and a longtime fan of your coverage of...

Remainers claim that Brexit will be an economic apocalypse. But it provides the opportunity for a radical break with neoliberalism. JacobinWhy the Left Should Embrace Brexit Thomas Fazi and Bill Mitchell

More questions based on the implications of a job guarantee.EconospeakJob Guarantees, Collective Bargaining and the Right to Strike Sandwichman

Stephanie Kelton is a leading American economist and a professor of public policy and Economics at Stony Brook University. Kelton was chief economist on the US Senate Budget Committee and economic adviser to the Bernie Sanders 2016 presidential campaign. She's most known for being a pioneer of Modern Monetary Theory (MMT). In this episode, Professor Kelton debunks budget deficit and government spending myths, and explains why understanding how our monetary system works is crucial to making...

If democratic socialists see social democracy as one of the key stepping stones towards a truly egalitarian society, the issue of how we can sustainably finance such programs is of the utmost importance. An economic doctrine named Modern Monetary Theory (MMT) is surging in popularity and offering answers. MMT is debunking popular narratives about the harsh necessity of austerity and belt-tightening. It is showing that money is not a finite abstraction, but a limitless public utility that...