There are myriad definitions and variations of socialism. If you don’t believe me, check out the term’s Wikipedia page. Things that have been called socialist: publicly owned lands, such as state and national parks [1] eminent domain [1][2] Social Security [1][3] the New Deal [1][5] public housing [1] the civil rights movement [1] bank […]
For the Kansas City Chiefs, a 14-point deficit at half-time is a problem. But that means their opponent has a 14-point surplus. Is that a problem for them? Of course not. The “federal debt” is the private sector’s savings. Personally, I’m happy to have some of those savings. How about you? Read more in this Financial
Here’s an excellent article, by Sam Adler-Bell, on how we can afford the programs we so badly need.
There was always a way to pay for the programs we need Read More »
Why can’t we have politicians who understand how money and federal spending actually work? In any case, Stephanie Kelton explains it yet again. Pay attention this time!
Just spend the money! Read More »
Robert Skidelsky writes that fiscal policy is poised to supplant monetary policy as the primary tool for managing the economy. Let’s hope he is right!
The Monetarist fantasy is over Read More »
Here’s a Twitter thread from Steven Grumbine on the urgency of overcoming the world’s collective austerity mindset. If you think our national debt or our federal deficit are problems, you are part of the problem. Educate yourself! (Feel free to inquire within.)
Thomas Piketty thinks a Bernie Sanders’ Presidency would be good for the U.S. economy. That shouldn’t be surprising to anyone who spends any time actually thinking about it. Because of inequality in this country, a lot of wealth is tied up in stocks and bonds, where it does nothing to stimulate the economy. Now consider if some of
Piketty on Sanders Read More »
James K. Galbraith provides this detailed analysis of Bernie Sanders’ agenda and its feasibility.
Galbraith on the Sanders agenda Read More »
Here is a good interview with Bill Mitchell.
Bill Mitchell interviewed Read More »
Here is a fascinating essay on the demise of Silk Road and what it says about libertarian fantasies.
Here’s an excellent article on the history of money and the foundations of Modern Monetary Theory. Highly recommended!
Debunking Money Myths Read More »
Will Hutton of The Guardian writes about the diverging directions of the American and European economies, and he attributes it to our broken campaign finance system: Both at federal and state level ever higher campaign donations are correlated with ever fewer actions against monopoly, price fixing and bad corporate behaviour. The results should be familiar
America – land of the predatory monopolies Read More »
Stable Genius Trump likes to brag about the stock market, but that is not a good measure of how well the economy is doing. Joseph Stiglitz explains that Trump deserves a failing grade on economic matters.
Whose good economy? Read More »
One would think that anyone who makes their living writing about money and finances would know all about those subjects. And one would be wrong. Today’s exhibit: The Motley Fool I admit that the Fool has lots of good advice about money and finances, but they appear to be quite ignorant when it comes to
Randy Wray presents some good information in this interview, but he also expended energy correcting poorly or incorrectly framed questions from the interviewer.
Randall Wray interview Read More »
An adage I’ve long enjoyed is this one: Never attribute to malice that which can be explained by incompetence. I think it’s better to assume mistakes are not malicious. Everyone makes mistakes, and everyone has areas of incompetence. Assume the best before assuming the worst. But there’s another adage I like: Once is accident, twice is
Incompetence or malice? Read More »
Joseph Stiglitz on ending neoliberalism: “Neoliberalism has undermined democracy for 40 years. … Neoliberalism will literally bring an end to our civilization.”
The End of Neoliberalism? We can only hope. Read More »
What will it take to address the two existential challenges – climate change and nuclear weapons – that threaten the survival of the human race? It starts with new thinking in economics and undoing the financialization of the world economy. James Galbraith explains.
The Next Great Transformation Read More »
Isabel Ortiz and Matthew Cummins write about the insanity of austerity. Calling it “insanity” is somewhat misleading. Austerity is accomplishing exactly what it was designed to do – consolidate wealth and power in the hands of the few with no regard whatsoever for anyone else. It’s class warfare, pure and simple, but most of those
The insanity of austerity Read More »
The New Republic has a good article on MMT.
Spreading the Gospel of Modern Monetary Theory Read More »