Tag Archives: William Vickrey

Lars quotes Knut Wicksell and William ("Bill") Vickery.Lars P. Syll’s BlogMMT — the key insightsLars P. Syll | Professor, Malmo University

This morning, a former deputy governor of Australia’s central bank (RBA) published a short Op Ed in the Australian Financial Review (July 16, 2019) – Why there are no free lunches from the RBA – which served as a veiled critique of Modern Monetary Theory (MMT). The problem is that the substantive analysis supported the core of the MMT literature that we have developed over 25 years, refuted the standard macroeconomics textbook treatment of the link between the government and non-government...

Vintage Bill Vickrey quote.Lars P. Syll’s BlogWhy so-called​ deficits​ are economic necessitiesLars P. Syll | Professor, Malmo University

The balanced budget paradox is probably one of the most devastating phenomena haunting our economies. The harder politicians — usually on the advice of establishment economists — try to achieve balanced budgets for the public sector, the less likely they are to succeed in their endeavour. And the more the citizens have to pay for the concomitant austerity policies these wrong-headed politicians and economists recommend as “the sole solution.” There are three budget views.1. Balanced budget...

In an interview with ProMarket, Glen Weyl, co-author of the wildly ambitious (and wildly controversial) new book Radical Markets: Uprooting Capitalism and Democracy for a Just Society, talks about antitrust, data as labor, and why he thinks the free market system is not actually free. “The entire business community has been speaking with one voice in the common interest of capital as a class,” he says.... A different take on "socialism" and how to implement it using markets in addition to...

Superb Bill Vickrey quote.Lars P. Syll’s BlogPublic debt — an economic necessity Lars P. Syll | Professor, Malmo UniversityAlsoNeoliberal ‘ethics’