from David Ruccio More than 50 years ago (on 14 April 1967), Martin Luther King Jr. delivered one of his famous speeches, on “The Other America,” at Stanford University.* King patiently explained to the…
Why do currency-issuing governments issue debt? – Part…
One question that continually comes up when I do interviews is this: If governments are not financially constrained in their spending why do they issue debt? Usually, the question is expressed in an incredulous tone,…
Why do currency-issuing governments issue debt? – Part…
This is Part 2 of the two-part series which focuses on the question: If governments are not financially constrained in their spending why do they issue debt? Part 1 focused on the historical transition of…
Why do currency-issuing governments issue debt – Part…
One question that continually comes up when I do interviews is this: If governments are not financially constrained in their spending why do they issue debt? Usually, the question is expressed in an incredulous tone,…
Microfoundations — neither law nor true
Home > Uncategorized > Microfoundations — neither law nor true Microfoundations — neither law nor true from Lars Syll Simon Wren-Lewis is one of many mainstream economists that staunchly defends the idea that having microfoundations for macroeconomics…
Central Banks: Monopoly or Public Service?
Home > Uncategorized > Central Banks: Monopoly or Public Service? Central Banks: Monopoly or Public Service? from Asad Zaman The Reagan-Thatcher revolution in the late 1970’s consisted of a move towards free markets, and away from government…
The Weekend Quiz – May 30-31, 2020 –…
Here are the answers with discussion for this Weekend’s Quiz. The information provided should help you work out why you missed a question or three! If you haven’t already done the Quiz from yesterday then…
Two definitions
from Peter Radford Are economists so befuddled by the elegance of their machinery thatwords have lost all meaning? Two definitions, one for ‘essential’ and the other for the way in which, according to economics, people are…
The Weekend Quiz – May 30-31, 2020
RSS feed billy blog MMT Macroeconomics Textbook – March 2019 Now available for purchase – For details. 2017 book Reclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World Co-authored with Thomas Fazi.…
Lock Step: How the Rockefeller Foundation wants to…
from Norbert Häring Ten years ago, the rich and powerful Rockefeller Foundation played through and favorably described a scenario in which a pandemic would lead to autocratic forms of government with total surveillance and control…