The American Rescue Act: Do Whatever It Takes
The economy is likely to be crippled for months and fiscal rescue on a large scale, once again, is very much necessary.
Read more...Category Archives: Macroeconomic policy
Best of Mankiw: Errors and Tangles in the World’s Best-Selling Economics Textbooks
Harvard’s Greg Mankiw is taken to task by Serious Economist Peter Bofinger for some major howlers in Mankiw’s textbooks.
Read more...A Hard Look at Rent and Rent Seeking with Michael Hudson & Pepe Escobar
An in-depth discussion of financial capitalism versus earlier models and the Chinese and Russian approach, with a focus on the role of rent.
Read more...Polarization, Then a Crash: Michael Hudson on the Rentier Economy
Michael Hudson discusses the chokehold of pro-finance, pro-rentier capitalism reaching into the present COVID-19 crisis.
Read more...Larry Summers’ Opposition to $2000 Covid Payments Confirms Our Classic: “Why Larry Summers Should Not Be Permitted to Run Anything More Important than a Dog Pound”
Larry Summers is at it again.
Read more...Explaining Fiscal Multipliers, a Stealthy but Important Budget Battleground (Part 1)
Fiscal multipliers, an economic concept often misused to justify austerity, is rearing its head in Beltway budget debates. Time to bone up.
Read more...Study of 50 Years of Tax Cuts For Rich Confirms ‘Trickle Down’ Theory Is an Absolute Sham
Another nail in the trickle down economics coffin. Too bad that vampire-like, it keeps coming back.
Read more...Macroeconomics, Money (MMT Style) and Post-Brexit Recovery, All in One Twitter thread
Money, lending, government spending, QE….all explained in one tidy post!
Read more...Jamie Galbraith: How Jason Furman and Lawrence Summers Reinforce a Destructive, Debunked Mainstream Paradigm to Support Deficit Spending
To defend deficits, Furman and Summers relied on debunked theories, thus preserving destructive mainstream economic ideas.
Read more...Is It Time for a Debt Jubilee?
Steve Keen and Micheal Hudson provide a deep dive on a debt jubilee, and how it could be implemented in a Covid-afflicted economy.
Read more...Rana Foroohar and Mark Blyth on Democrats Trying to Please Too Many Money Masters at Once
The Democrats will soon decide which campaign promises will be ignored or walked back. Sandernistas, brace yourselves.
Read more...MMT and the EU: A Case for Capturing the Prevailing Narrative
A political economy take on the EU.
Read more...Nathan Tankus: What the Hell is Going On With CARES Act “Funds”?
Trying to make sense of CARES Act gimmickry.
Read more...Nick Corbishley: Bankruptcy Looms As Cash-Starved UK Local Councils’ High-Risk Real Estate Bets Sour
UK councils were already in trouble due to austerity, inflated charges for services, and mismanagement. Covid is set to generate bankruptcies
Read more...Matt Taibbi: A Dangerous Moment for the Democratic Party
Matt Taibbi describes why the Democrats are likely to draw all the wrong lessons from their shabby 2020 results.
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