An MMT View of “Twin Deficits”: Budget and Current Account Deficits
Why the worries about the US budget deficit and China buying Treasuries are overblown.
Read more...Category Archives: The dismal science
Mortality Risk, Valuing Lives, and the Impact on Health Care
The way economists think about the value of lives influences health care policy, and some of their ideas may be producing bad outcomes.
Read more...Publishing and Promotion in Economics: The Tyranny of the Top Five
One of the reasons little has changed in economics despite the financial criss showing it to be deeply flawed is the power of the “top five” journals, which show both inbreeding and clientelism.
Read more...Mischaracterizing HAMP and Principal Reduction: A Regression Discontinuity Test Error
Explaining a fundamental error in a widely-touted paper on HAMP modifications.
Read more...What’s the Problem with Financialization?
Some of the analytical sleights of hand used to promote the ideology of financializatation.
Read more...“Fatally Flawed” Paper on HAMP Mortgage Program Gets Program Design Backwards, Botches Regression Analysis, Yielding Propagandistic Findings
How a new paper on HAMP manages, by not understanding the program. to whitewash it as well as promote financialization.
Read more...Video: An intro to MMT, as presented at September’s International MMT Conference in NYC
A very readable — or listenable — introduction to MMT, in plain language
Read more...Buried in “Hilariously Stupid” White House Attack on Socialism, An Accidentally Strong Argument for Medicare for All
Amid hysterical comparisons between Senator Bernie Sanders and Mao Zedong, the Council of Economic Advisers unwittingly makes a solid case for socialist policies.
Read more...How to Destroy Neoliberalism: Kill ‘Homo Economicus’
contemporary American business and economic culture has a moral framework: neoliberalism. This framework is dependably orthogonal to the last 50,000 years of moral norms and traditions.
Read more...Money, the Shape of Law, MMT, and Aesthetics
How the evolution of Western metaphysics repressed chartalist ideas that are the foundation of MMT.
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...Inequality Represents a Wasted Opportunity for Poverty Reduction
If poverty is falling, why you should still care about what happens to inequality.
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...Steve Keen: How Economics Became a Cult
Steve Keen, author of Debunking Economics and one of the few economists to foresee the crisis, explains what is wrong with the discipline.
Read more...