BIS chief economist Claudio Borio warns that central bankers have overdone the liquidity party, and investors are not being paid enough to take ris
Read more...Debunking the misconceptions about the role of debt of a currency issuer like the US or UK.
Read more...How “Green New Deal” proponents repeat the intellectual errors made by the critics of the 1970s Limits to Growth studies.
Read more...A reminder that the budgetary “paying for things” framing is a way to deny resources to citizens.
Read more...Follow the subsidies, and you will understand why we had the crisis and why not enough has been done to prevent a recurrence.
Read more...An in-depth look at Marriner Eccles’ ideas and policies, and how well they have withstood the test of time.
Read more...Central banks have not always been independent, inflation targeting bodies, and to treat them as such is to obscure their complex histories and alternative institutional constellations.
Read more...In their 21st-century role as counterparty/dealer/insurer of last resort, central bankers must not simply use their balance sheets indiscriminately to provide a liquidity backstop during the downturns. They must embrace this counterparty role as an umpire, rather than an enabler.
Read more...Why the Fed is, rather late in the game, concerned about monopsony power.
Read more...Debunking the petrodollar myth.
Read more...To understand labor productivity—and growing inequality—you have to look at the “dual economy”
Read more...Why the lump-of-labor fallacy is bad for workers and for economics.
Read more...A takedown of the Mercatus #MedicareForAll debacle from MMT’s macro-economic bookkeeping perspective.
Read more...A new report examines the path to global social progress. Unfortunately, there are no easy answers.
Read more...Which countries fit criteria that would lead them to be classified as empires?
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