The Super Rich Get Even Richer
The continuing rise in wealth of the super rich bodes ill for financial and social stability.
Read more...Category Archives: Macroeconomic policy
Yanis Varoufakis: How the Italian Budget Fight Helps Brussels and Salvini, Hurts Europeans and the Eurozone
Contrary to popular perception, Brussels and the Italian government come out ahead from sparring over Italy’s budget, and what works for them does not work for much of anyone else.
Read more...Contagion in the European CoCos Market
the possibility that the coupon payment on the CoCos issued by a single bank might be suspended led to very adverse dynamics in the entire market for CoCos that cannot be totally explained by banks’ fundamentals.
Read more...Standoff Between Italy and European Commission Escalates as Commission Rejects Italian Budget
Italy and the European Commission are in a dispute over Italy’s budget, and no one looks likely to come out a winner in this fight.
Read more...Italy’s Debt Crisis Intensifies
Italy’s government debt yields are rising thanks to a budget standoff with Brussels, and Italian banks are looking more wobbly too.
Read more...The International Use of the Euro: What Can We Learn From Past Examples of Currency Internationalisation?
European leaders have regularly expressed a desire for a European currency to serve as a reserve currency. The history of the transition from sterling to dollar and Europe’s aspirations sheds light on whether the Euro can assume this role.
Read more...The Effectiveness of Large-Scale Asset Purchases
This is Naked Capitalism fundraising week. 551 donors have already invested in our efforts to combat corruption and predatory conduct, particularly in the financial realm. Please join us and participate via our donation page, which shows how to give via check, credit card, debit card, or PayPal. Read about why we’re doing this fundraiser and […]
Read more...Marshall Auerback: A Full Employment Economy? What Could Possibly Go Wrong?
Why Trump’s trade deals could wind up being a negative for employment.
Read more...J.D. Alt: Will the Democrats Change the Subject?
Will the Democrats get out of their own way?
Read more...Why Hysteria Over the Italian Budget Is Wrong-Headed
A critique of the bad-model-induced fear-mongering over Italy’s proposed budget deficits
Read more...Italy’s New Fiscal Plans: The Options of the European Commission
What could the European Commission do if it decided to discipline Italy for defying budget rules?
Read more...Randy Wray: Modern Monetary Theory – How I Came to MMT and What I Include in MMT
A short history of MMT and and overview of core principles.
Read more...Joseph Stiglitz and Alexandria Ocasio-Cortez Talk Social and Economic Justice
Alexandria Ocasio-Cortez continues to be in the limelight. Is she getting her political footing yet? And will she live up to her “democratic socialist” brand, or is she getting more cozy than necessary with establishment Democrats?
Read more...Why the Public Debt Should Be Treated as an Asset
Debunking the misconceptions about the role of debt of a currency issuer like the US or UK.
Read more...J.D. Alt: Paying for Hurricanes
A reminder that the budgetary “paying for things” framing is a way to deny resources to citizens.
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