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

Posted in belief systems, deficit spending, developed countries, health care policy, human rights, MMT, public debt | Leave a comment

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 | Leave a comment

“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 | Leave a comment

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 | Leave a comment

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

Posted in austerity, debt, deficit spending, democracy, developed countries, economic policy, macroeconomics, MMT, neo-liberalism, private debt, public debt, standards of living | Leave a comment

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

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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 | Leave a comment