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BlogTo Consolidate or Not to Consolidate, That Is the Question (or maybe it isn’t)
June 27, 2014 This is another short post on MMT, a sort of follow-up to my post from a couple of days ago. There was an interesting response to various comments on my piece, which was posted up on Mike Norman’s website. We got the typical: “oh you MMTers always want to consolidate the Fed and Treasury, but really [...] Blog -
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End of Week Links 6/27/2014
June 27, 2014 Ann Pettifor, “Out of thin air — Why banks must be allowed to create money” “In his regular column, Martin Wolf called for private banks to be stripped of their power to create money. Wolf’s proposals are radical, and would give a small committee – independent of the state – a monopoly on money creation. … Furthermore, Wolf argues, private [...] Blog -
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Something Is Rotten in the State of Denmark: The Rise of Monetary Cranks and Fixing What Ain’t Broke
June 30, 2014 Horatio: He waxes desperate with imagination. Marcellus: Let’s follow. ‘Tis not fit thus to obey him. Horatio: Have after. To what issue will this come? Marcellus: Something is rotten in the state of Denmark. Horatio: Heaven will direct it. Marcellus: Nay, let’s follow him. Hamlet Act 1, scene 4 Marcellus is right, the Fish of [...] Blog -
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Stiglitz, Galbraith, and Milanovic on Inequality
July 03, 2014 From Columbia University’s Heyman Center for the Humanities: [iframe src=”http://player.vimeo.com/video/99560896″ width=”450″ height=”253″ frameborder=”0″ webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe> <p><a href=”http://vimeo.com/99560896″>Highlights: Joseph Stiglitz, James K. Galbraith, and Branko Milanovic on “Global Inequality”</a> from <a href=”http://vimeo.com/heymancenter”>Heyman Center/Society of Fellows</a> on <a href=”https://vimeo.com”>Vimeo</a>.</p] Blog -
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Predatory Capitalism and the System’s Denial in the Face of Truth
July 07, 2014 Contemporary capitalism is characterized by a political economy which revolves around finance capital, is based on a savage form of free market fundamentalism, and thrives on a wave of globalizing processes and global financial networks that have produced global economic oligarchies with the capacity to influence the shaping of policymaking across nations. As a result, [...] Blog -
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Greece: The Impact of Austerity on Migration
July 11, 2014 The chart above documents another striking feature of the impact of the recession on Greece. The Hellenic Statistical Authority (ElStat) has recently released the new quarterly data on employment and the labor force, which includes a measure of the population aged 15 or more (Table 1). While the series published in the previous release exhibited [...] Blog