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Category Archives: deficit spending
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
With friends like these…
NC has a post up that takes Krugman to task for peddling outdated theories w.r.t. the trouble Argentina has experienced recently.
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
Paul Krugman on “The Japan Story”
Paul Krugman comments on Japan in the New York Times and makes a remark that I find very interesting. Two actually that have always kept me a bit worried when Bill Mitchell points out that constant, relatively high deficits, and … Continue reading
In neo-liberalism, it’s always the individual’s fault
There’s a post up at Telepolis in which the author contrasts neo-classical, Austrian and MMT-approaches to solving the current crisis. His diagnosis is that the problem is private over-indebtedness, which “paralyzes” individuals and banks and which needs to addressed “as … Continue reading
Randall Wray’s alternative meme for money
Randall Wray has a multi-part post up at New Economic Perspectives on “An alternative meme for Money”. The goal was to sketch a progressive, MMT-based meme. Especially in the beginning, I worried this might fail since the posts seemed to … Continue reading
Is Open Democracy just a camouflaged propaganda tool?
Open Democracy is an infuriating site. On the one hand, they discuss important developments in the Middle East and North Africa, women’s issues, topics relating to democracy and mass media. On the other hand, they keep giving a propaganda platform … Continue reading
Bill Mitchell on the empirical falseness of supply-side unmployment measures
The main underlying idea of supply-side unemployment measures is that the average (potential) employee looks at wages he can earn working, the unemployment support (welfare) that the government is paying, and then decides that the wage is too low to … Continue reading
An economic prediction
I usually hold the mainstream’s feet to the fire but today, I have something different. An economic prediction by Bill Mitchell: Last week (August 10, 2012) the Japanese Parliament approved a bill to double the sales tax (from 5 per … Continue reading
Neo-liberalism is a religion
If you’ve seen The Matrix, you’re familiar with the scene when Agent Smith tells Morpheus that he’s tried to classify humans: I’d like to share a revelation I’ve had during my time here. It came to me when I tried … Continue reading
Reality-based World View 