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BlogDonald Trump’s Printing Press Sends the Media to the Fainting Couch
Donald Trump generated some breathless commentary last week (perhaps, for once, unjustified) for suggesting, in response in part to those who have pointed out that some of the policies he has pseudo-proposed would enlarge the deficit, that the US government can always pay its bills: “This is the United States government. First of all, you never have to [...] -
Working Paper No. 866Going Forward from B to A?
After reviewing the main determinants of the current eurozone crisis, this paper discusses the feasibility of introducing fiscal currencies as a way to restore fiscal space in peripheral countries, like Greece, that have so far adopted austerity measures in order to abide by their commitments to eurozone institutions and the International Monetary Fund. We show […] -
Can the US “Print Money” to Pay Down the National Debt?
Bloomberg, May 12, 2015. All Rights Reserved. Senior Scholar L. Randall Wray discusses the US national debt and inflation with Bloomberg’s Joe Weisenthal on “What’d You Miss?” Full video of the interview is available here. -
Blog
A Global Marshall Plan for Joblessness?
The corrosive social and economic effects of what have now become ‘normal’ unemployment levels require new solutions, and trade without full employment exacerbates the problem. Global unemployment is expected to surpass 200 million people for the first time on record by the end of 2017, according a recent ILO study, and limitations of official statistics [...] -
Trump Is Now Running to the Left of Sanders on Federal Debt
Bloomberg, May 11, 2016. All Rights Reserved. Donald Trump’s about-face on the relevance of a ballooning U.S. debt continues his campaign’s hallmark of zigging and zagging on policy issues, landing him now on economic proposals favored by economists to the left of Bernie Sanders. The billionaire businessman has advocated for the federal government to take advantage […] -
Working Paper No. 865
Measuring Poverty in the Case of Buenos Aires
We describe the production of estimates of the Levy Institute Measure of Time and Income Poverty (LIMTIP) for Buenos Aires, Argentina, and use it to analyze the incidence of time and income poverty. We find high numbers of hidden poor—those who are not poor according to the official measure but are found to be poor […] -
Book Review: Why Minsky Matters
Seeking Alpha, May 5, 2016. All Rights Reserved. A few decades ago, Paul Samuelson wrote a letter to Robert Shiller and John Campbell, in which he discussed the notion that while the stock market was “micro efficient,” it was also “macro inefficient,” by which he meant that although profitable security choices were swiftly arbitraged away, […] -
Levy Economics: 90% of Americans Worse Off Today Than in 1970s
ValueWalk, May 3, 2016. All Rights Reserved. Today we will focus on a recent study from the Levy Economics Institute which found that 90% of Americans were worse off financially in 2015 than at any time since the early 1970s. Furthermore, for the vast majority of Americans, the nation’s economy is in a prolonged period of stagnation, […] -
MME, April 30, 2016
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Αποψη: Προς μια βελτίωση του νομισματικού συστήματος της Ε.Ε.
Kathimerini, 30 Απρίλιος 2016. Με επιφύλαξη παντός δικαιώματος. Ολο και περισσότεροι οικονομολόγοι και αναλυτές πιστεύουν πως η οικονομική πολιτική που ακολουθούν ορισμένες ευρωπαϊκές χώρες θα υπονομεύσει τους κανόνες της νομισματικής ένωσης, προκαλώντας τελικά είτε την κατάλυση κάθε συνοχής στην Ευρώπη είτε μια παρατεταμένη περίοδο στασιμότητας…. Διαβάστε περισσότερα κάνοντας ΚΛΙΚ ΕΔΩ: http://www.kathimerini.gr/858279/article/oikonomia/die8nhs-oikonomia/apoyh-pros-mia-veltiwsh-toy-nomismatikoy-systhmatos-ths-ee -
Trump Says American Dream Is Dead; Is He Right?
Voice of America, April 25, 2016. All Rights Reserved. Donald Trump has famously declared that the American Dream is dead, but the majority of middle class Americans seem to disagree with the Republican presidential frontrunner. Sixty-three percent of people surveyed earlier this year believe they are living the American Dream. That finding suggests American optimism hasn’t been a […] -
Blog
Dear Time Magazine Readers, the United States Is Not Insolvent
This is apparently the latest cover of Time magazine: The idea that the US government or the nation as a whole is “insolvent” has an undying appeal. The fear of (or yearning for) some manner of budget crisis has waned somewhat over the last couple of years (one hopes this is due to the fact that most people alive today have never [...]