DSGE, the Standard Economic Paradigm, is Based on Bad Modeling
Why the New Keynesian Dynamic Stochastic General Equilibrium (DSGE) is a straightjacket for macroeconomics.
Read more...Category Archives: Macroeconomic policy
Pointless Pain Is What We’re Enduring. And All for the Sake of Accepting That Money is Not a Constraint on Our Potential, and Never Will Be
Defitic hysteria, UK style, and why misunderstanding what government money is about persists.
Read more...Bad Stimulus: Government Payments to Individuals Are a Terrible Way to Solve America’s Structural Economic Problems
Why the Biden stimulus program is fundamentally wrongheaded.
Read more...A Big Fiscal Push is Urgent, The Risk of Overheating Is Small
The $1.9 trillion fiscal stimulus should be large because the need is large.
Read more...“I’m Sorry,” Says Ro Khanna, “An Unelected Parliamentarian Does Not Get to Deprive 32 Million Americans the Wage Raise They Deserve.”
The Biden Administration proves it cares only about the donor classes by standing pat as its own $15 minimum wage proposal founders.
Read more...Eviction Moratorium Deemed Unconstitutional by Federal Judge in Texas
The Trump and Biden stimulus on the cheap, of having landlords support income-starved renters in lieu of subsidies, is now in trouble.
Read more...America Needs New Infrastructure to Survive, But Will Biden Deliver?
What will come of Biden’s grand infrastructure plans? And will they be as green as he promised?
Read more...Is the Post-COVID Boom Going to Bust?
Reading the tea leaves of the economy after Covid…..assuming an “after Covid”.
Read more...Yanis Varoufakis: Trumpism after Trump – NEWSWEEK Magazine, Interviewed by Basit Mahmood
Varoufakis believes Biden Administration fecklessness and love of austerity will strengthen the Trump faction.
Read more...RIP Michael Perelman
A belated obituary for the heterodox economist Michael Perelman.
Read more...‘Will End Up Hurting Tens of Millions’: Progressives Push Back as Dems Weigh Lower Income Cutoff for Stimulus Checks
“Means testing is a form of austerity. Scaling back on stimulus would be a mistake.”
Read more...Coronavirus and Banking: Evaluating Policy Options for Avoiding a Financial Crisis
A scorecard for various approaches to combatting the looming European banking crisis.
Read more...What Can Sanders Do as Budget Chair? – Rob Johnson
Sanders is about to have considerable influence on spending priorities. Where and how does he have leverage?
Read more...Rise of the Superstar Firms: Taking Oligopoly Seriously in Macroeconomics
Quelle surprise! Only now that EU and US officials are up in arms about monopolies are macroeconomics pros taking it seriously.
Read more...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...