The recently passed federal tax cut seems perilous for the United States government and economy. But even as some financial commentators have for years predicted chaos in the U.S. financial system resulting … Continue reading Is Washington tacitly operating under a new monetary theory?
We’ve forgotten that money doesn’t grow on rich people. We make our own money via the institution of government and it’s time we remembered how to use it properly. Great article which … Continue reading Money Doesn’t Grow on Rich People
And if you’re okay with the Federal Reserve as the lender of last resort when credit markets fail, as was the case in the financial crisis of 2008, then you should apply the same standard to labor markets. Banks facing credit constraints are no more economically important than workers facing inadequate job opportunities, and … Continue reading Tuesday was a great win for Democrats. Here’s how they can build on it.
MMT essentially proposes that money is created ex nihilo or out of nothing. Whether it is private banks, central banks or governments, money is an abstract concept of ones and zeros. Thus, … Continue reading Actually the magic money tree does exist, according to modern monetary theory
Very interesting. Important because this strategy is a ‘plan b” strategy, meaning it will work. Because it will work it can be used as an effective strategy to force the EU to … Continue reading How Could Euro Nations Start A New Currency? – Warren Mosler
Jacinda Ardern is set to become the next prime minister of New Zealand in a meteoric rise to power just months after taking control of the opposition Labour party in the middle of an election campaign. Ms Ardern, 37, … will become one of her country’s youngest prime ministers and the third … Continue reading Jacinda Ardern set to become New Zealand PM
Republicans and Democrats should stop obsessing over using the deficit as a guide to public policy. Government deficits equal private sector surpluses. A whole slew of the world’s problems can be solved … Continue reading How We Think About the Deficit Is Mostly Wrong – NYTimes.com
The Democrats claim to be the Party that “really cares” about the deficit. This is not simply dishonest and financially illiterate, it is also a trap. It’s time for our politicians to … Continue reading Jared Bernstein & the cost of not understanding sovereign currencies
The solution is simple. It just takes money. Source: How to save Puerto Rico Continue reading How to save Puerto Rico
Congress is on track for an eye-popping increase in military spending. Put another way, with a $700 billion military budget, the U.S. would be spending more than three times as much as … Continue reading The Senate’s Military Spending Increase Alone Is Enough to Make Public College Free
For centuries, humans have championed the democratic political system. But can it facilitate the radical change needed to stop the potentially annihilating effects of climate change? It needs to because the corporate … Continue reading We need to make democracy work in the fight to save the planet
A new research paper suggests that government spending in a recession doesn’t cause long-term economic harm. Everything you thought you knew about budget deficits is wrong, according to a new paper presented at … Continue reading Budget deficits can boost the economy without large costs