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Category Archives: macroeconomics
Jacobin both good and bad
I guess that I should really get a subscription, given how often I read JacobinMag nowadays. This morning, for instance, I read a piece where they point towards the role of the Netherlands as vanguard of everything that’s wrong in … Continue reading
Taxing consumers reduces growth – still!
So, the Japanese prime minister Abe proposed a bastard-Keynesian program for getting Japan out of its stagflation, nick-named Abenomics. But because he still effectively thinks neo-liberally, the program included a consumption tax increase to “balance the budget” (while at the … Continue reading
Posted in austerity, belief systems, economic policy, macroeconomics, MMT, neo-liberalism
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“Animal spirits” still rule speculation
VoxEU offers academica macroeconomic analyses that are a bit more nuanced than the bleating in the MSM. But often this nuance is not very impressive. Currently, there’s write-up of a paper online, titled Watch the indices! Derivatives and the Eurozone … Continue reading
Posted in eurocrisis, macroeconomics, MMT, public debt
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The Eurocrisis concisely laid out
Jörg Bibow does a great job under the heading “On the alleged pains of the strong Euro. He discusses the current predicament: ECB president Mario Draghi recently argued that the strengthening of the euro was partly responsible for the bank’s … Continue reading
Posted in austerity, deflation, economic policy, eurocrisis, macroeconomics
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Valls engages in make-belief
So Valls is yet another one who proposes to square the circle: If one ignores for the moment that there is no empirical evidence at all that companies invest more if they pay lower taxes – quite contrary, at current … Continue reading
Posted in belief systems, macroeconomics, neo-liberalism
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RWER 66: “Modern Money Theory and New Currency Theory”
The Real World Economics Review issue 66 is out for a while already and includes a number of interesting, high-level papers. One of which I hoped for some additional clarification of MMT is titled “Modern Money Theory and New Currency … Continue reading
Posted in debt, macroeconomics, MMT, public debt, wealth distribution
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Trying to drive out the Devil with the Beelzebub
Naked Capitalism has a post up with the title “Ragnarok – Iceland and the ‘Doom of the Gods’”. Most days I am reading Naked Capitalism and New Economic Perspectives in parallel and while I know that there is only a … Continue reading
More madness from Argentina
So the police are striking because they are not very well paid. In Tucuman, the salary has been increased to 8,500 pesos, a bit more than 1000 euros. In Salta, the provincial government offers only 6,500 pesos, and says that … Continue reading
Posted in MMT
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At least the NFL has the decency to call it “fantasy”
There’s an NFL-related activity called Fantasy Football. People put together teams consisting of actual NFL players and depending on those players’ game time (i.e. real life) performance, teams accrue points. To give an impression how players are scored, I quote … Continue reading
Egypt’s in a pickle
It’s Stratfor again, talking about Egypt. They point out that there are real-resource constraints on the government’s ability to change things: Egyptian petroleum production peaked in 1996 and the country first became a net importer in 2007. Government fuel subsidies … Continue reading
Posted in economic policy, macroeconomics, MMT, Real resources
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