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Category Archives: MMT
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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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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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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A view on bubbles
Interesting post up at New Economic Perspectives: Sometimes, something interesting and seemingly contradictory can happen in the economy. And when it does, it has important implications for the economy’s financial stability. That interesting thing is this: Private sector net worth … Continue reading
Posted in debt, macroeconomics, MMT, private debt, science, wealth distribution
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Fewer imports doesn’t mean your working population is doing well
I was at the gym yesterday and like most slightly upscale gyms (not very upscale since I never understood the need to pay upwards of 100 euros to lift weights) it shows news channels on several TV screens. One of … 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
Reality-based World View 