Why the Neoliberals Won’t Let This Crisis Go to Waste
An interview with Philip Mirowski.
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MMT on Marketplace
Marketplace – Kai Ryssdal and Molly Wood – finally discussed MMT with Stephanie Kelton. I hope they learned a few things.
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History According to Trump
Susan B. Glasser writes about Trump’s historical illiteracy.
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The Science of Fox News
Here is a 2014 article by Chris Mooney that tries to explain why Fox News viewers are more misinformed than other news consumers. The piece is an excerpt from his book, “The Republican Brain: The Science of Why They Deny Science–and Reality“. Much of the misinformation is deliberate on the part of Fox News, but conservatives
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Think you’re smarter than a phone scammer?
I know people who avoid doing shopping, banking and other financial activities on-line because they don’t think it’s safe. If only it was that simple. While it is true that any on-line account can potentially be compromised, there is also a security benefit to creating certain accounts: If you don’t create an account at your bank’s
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The Myth of “Helicopter Money”
Modern Monetary Theory (MMT) is getting a lot of attention these days, but many mainstream commentators still mischaracterize it. Yeva Nersisyan and L. Randall Wray set the record straight.
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On Socialism
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
The FT on MMT
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
There was always a way to pay for the programs we need
Here’s an excellent article, by Sam Adler-Bell, on how we can afford the programs we so badly need.
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Just spend the money!
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!
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Computershare con job
Computershare is a financial services company that provides stock transfer services to various companies. It was founded in Australia in 1978 and currently operates in many other countries, including the U.S. If you own stock in companies that use Computershare, your 1099-DIVs display their name. One of Computershare’s corporate clients is Brighthouse Financial (BHF). Brighthouse
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The Monetarist fantasy is over
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!
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We need MMT now!
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.)
Piketty on Sanders
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
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Galbraith on the Sanders agenda
James K. Galbraith provides this detailed analysis of Bernie Sanders’ agenda and its feasibility.
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Bill Mitchell interviewed
Here is a good interview with Bill Mitchell.
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Dark Leviathan
Here is a fascinating essay on the demise of Silk Road and what it says about libertarian fantasies.
Debunking Money Myths
Here’s an excellent article on the history of money and the foundations of Modern Monetary Theory. Highly recommended!
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America – land of the predatory monopolies
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
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Whose good economy?
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 »