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BlogA Minsky Conference in Athens
The next Minsky conference in the Levy Institute’s international series is taking place in Athens next week, November 8-9. The central theme, as you can probably guess from the location, is the ongoing eurozone crisis. This conference is organized as part of the Levy Institute’s international research agenda and in conjunction with the Ford Foundation [...] -
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Monetary and Fiscal Operations in China, an MMT Perspective
Here’s a piece I wrote with Yolanda Fernandez for the Asian Development Bank: Monetary and Fiscal Operations in the People’s Republic of China: An Alternative View of the Options Available You’ve no doubt read various analyses predicting the impending collapse of the Chinese financial sector, and arguments that China cannot continue to grow at a [...] -
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The 0.2 Percent Solution: Some Advice for Debt Hawks
Larry Summers recently noted that the projected long-term budget deficit for the federal government basically disappears if we’re able to achieve annual economic growth rates that are 0.2 percentage points higher than the Congressional Budget Office assumes. The notion that eliminating the budget deficit is a valuable goal in and of itself deserves some pushback. [...] -
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Can R&D Help Get Us Out of this Mess? A New Stock-Flow Analysis
Dimitri Papadimitriou, Greg Hannsgen, Michalis Nikiforos, and Gennaro Zezza have just published a new strategic analysis for the US economy, with a baseline projection and alternative policy simulations through the end of 2016. The report takes a closer look at the potential payoff of R&D investment in the context of a US export strategy. As [...] -
Fed Bank President Eric Rosengren speaking on the risk of financial runs and the implications for financial stability, at the 22nd Annual Minsky Conference in New York.
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Minsky on Schumpeter, “Dilettantism,” and History
As is well known, Hyman Minsky was a student of Joseph Schumpeter’s at Harvard. Minsky’s “stages” theory of capitalist development, fleshed out during the later part of his life while he was here at the Levy Institute, arguably owes something to the influence of his former dissertation adviser. There’s a short paper in the archive [...] -
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Bellofiore on the Socialization of Investment
From part four of Mariana Mazzucato’s “Rethinking the State” series, Riccardo Bellofiore discusses Hyman Minsky’s Schumpeterian spin on the “socialization of investment”: [iframe width=”448″ height=”242″ src=”//www.youtube.com/embed/rj8vyzWbZh8?feature=player_detailpage” frameborder=”0″ allowfullscreen] -
Fitch Ratings Warns U.S. on Credit Rating
USA Today, October 16, 2013. All Rights Reserved. Fitch Ratings took a step toward cutting the U.S. government’s AAA debt rating Tuesday, as the clock ticked toward the Thursday deadline to raise the nation’s debt ceiling or risk default. Chicago-based Fitch, the third-largest of the major debt-rating companies behind Standard & Poor’s and Moody’s Investors […] -
Strategic AnalysisRescuing the Recovery: Prospects and Policies for the United States
If the Congressional Budget Office’s recent projections of government revenues and outlays come to pass, the United States will not grow fast enough to bring down the unemployment rate between now and 2016. The public sector deficit will decline from present levels, endangering the sustainability of the recovery. But as this new Strategic Analysis shows, […] -
Strategic Analysis
Η εδραίωση της ανάκαμψης: Προοπτικές και πολιτικές για τις Ηνωμένες Πολιτείες
Στην περίπτωση που επαληθευτούν οι προβλέψεις του Γραφείο Προϋπολογισμού του Κογκρέσου για τα κρατικά έσοδα και τις δαπάνες, η οικονομία των Ηνωμένων Πολιτειών δεν θα μπορέσει να αναπτυχθεί αρκετά γρήγορα προκειμένου να μειωθεί το ποσοστό της ανεργίας από σήμερα έως το 2016. Το έλλειμμα θα μειωθεί από τα σημερινά του επίπεδα, θέτοντας σε κίνδυνο τη […] -
MME, October 16, 2013
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Ινστιτούτο Levy: Το κράτος να γίνει “εργοδότης τελευταίας προσφυγής”
NewMoney.gr, 16 Οκτώβριος 2013. Με επιφύλαξη παντός δικαιώματος. Η ερευνήτρια Ράνια Αντωνοπούλου προτείνει τη δημιουργία θέσεων απασχόλησης από το Κράτος για να σταματήσει η κατάρρευση της απασχόλησης Σχέδιο για δημιουργία θέσεων εργασίας με συμμετοχή του Κράτους σε ρόλο “εργοδότη τελευταίας προσφυγής” προτείνει το ινστιτούτο Λεβί για την Ελλάδα, στο πλαίσιο του εναλλακτικού οικονομικού σχεδίου για […]