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EventCritiquing from the Margins: Examining the Power of Black Girls™ Critiques of Class-Based Disparities in Schools
Join us for our fourth session with Jomaira Salas Pujols, Assistant Professor of Sociology at Bard College, on Thursday, March 28, from 5pm to 6pm in the Levy Conference Room, or on Zoom. Dr. Pujols’s presentation will be followed by an open Q&A session with audience members—both those in person and on Zoom are welcome to ask […] -
Event
Free to Choose? The Gendered Impacts of Flexible Working Hours in Brazil
Join us for our sixth session with Lygia Sabbag Fares, Economics Professor at John Jay College (City University of New York - CUNY), on Monday, April 29, from 5pm to 6pm in the Levy Conference Room, or on Zoom. -
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Queering Economics: Diversity and Inclusion in the Dismal Science
Join us for our fifth session with Michael Martell, Associate Professor of Economics at Bard College, on Tuesday, April 16th, from 5pm to 6pm in the Levy Conference Room, or on Zoom. Dr. Martell’s presentation will be followed by an open Q&A session with audience members—both those in person and on Zoom are welcome to ask […] -
Blog
Phillips Curve Still Alive for Compensation?
On reading a recent post by Ed Dolan at Economonitor with some evidence of the lack of a strong Phillips relationship for consumer-price inflation in US data, it occurred to me to try a measure of total compensation per hour with recent data. The wage relationship estimated over all available quarters, using averaged monthly observations [...] -
Blog
What Are Taxes For? The MMT Approach
Previously we have argued that “taxes drive money” in the sense that imposition of a tax that is payable in the national government’s own currency will create demand for that currency. Sovereign government does not really need revenue in its own currency in order to spend. This sounds shocking because we are so accustomed to [...] -
Blog
Is Inequality Holding Back the Recovery?
“The biggest obstacle to a sustainable recovery,” according to the Levy Institute’s newest strategic analysis of the US economy, “is the inequality in the distribution of income.” In their latest, Dimitri Papadimitriou, Michalis Nikiforos, Gennaro Zezza, and Greg Hannsgen begin with a familiar point: the Congressional Budget Office has been predicting fairly rosy economic growth [...] -
Blog
An Employment Safety Net for Youth
Pavlina Tcherneva participated in a conference on youth unemployment at Middlebury College and shared her ideas for a youth employment safety net (beginning at 38:45): [iframe src=”//player.vimeo.com/video/89719577?title=0&byline=0&portrait=0″ width=”450″ height=”253″ frameborder=”0″ webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe] -
Blog
Is the Eurozone Crisis Really Over?
Economic pundits who predicted the collapse of the euro at the start of the eurozone crisis have been proven wrong. But those who say the crisis is over are equally wrong. Four years after the start of the euro crisis, the bailed-out countries of the eurozone (Greece, Ireland, Portugal, and Spain) are still facing serious [...] -
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Bubbles and Piketty: An Interview with L. Randall Wray
L. Randall Wray appeared on Thom Hartmann’s radio show yesterday for a lengthy and wide-ranging interview: [iframe width=”480″ height=”270″ src=”//www.youtube.com/embed/q8YND_N_6ms?feature=player_detailpage” frameborder=”0″ allowfullscreen></iframe] -
Blog
Taxes and the Public Purpose
In previous installments we have established that “taxes drive money.” What we mean by that is that sovereign government chooses a money of account (Dollar in the USA), imposes obligations in that unit (taxes, fees, fines, tithes, tolls, or tribute), and issues the currency that can be used to “redeem” oneself in payments to the [...] -
Blog
Working Paper Roundup 6/4/2014
Monetary Mechanics: A Financial View Éric Tymoigne “This paper presents an alternative framework that can be used to analyze monetary systems by drawing on the work of Smith, MacLeod, Knapp, Innes, Hawtrey, Keynes, Murad, Olivecrona, Wray, and Ingham, among others. The analysis asks what “money” is instead of what “money” does. Monetary instruments are not [...] -
Blog
Creationism versus Redemptionism: How a Money-Issuer Really Lends and Spends
MMT has emphasized that there is a close relation between sovereign power to issue a currency and its power to impose tax liabilities. For shorthand, we say “Taxes Drive Money.” I’ve dealt with that topic in the previous installments of this series on MMT’s view of taxes. We’ve also demonstrated (as if it needed demonstration!) [...]