James Galbraith says academic economics is in need of radical reform. The University of Texas economist outlines how the profession has become “self-dealing”—creating a tribal and restrictive hierarchy through journals and university … Continue reading Academic economics is in need of radical reform
Americans, particularly young Americans, are starting to question the assumptions that underlie some policymakers’ categorical opposition to federal government borrowing. For those hawks who make politically motivated forecasts of doom for the US’s fiscal health, it may be their own credibility that ends up paying a price. Because the threat of doom … Continue reading Fiscal hawks’ tales of doom do not fly with the young
Are finance types really going to make us fight this battle for the rest of our careers? The government doesn’t operate like a household. When will people learn? Source: Twitter investor says … Continue reading Twitter investor says US government is bad at managing its finances | FT Alphaville
OPINION: Alexandria Ocasio-Cortez favors a government jobs guarantee and says Americans should not underestimate the power of policymakers to channel deficit spending toward social goals like healthcare and education. A politician who … Continue reading Ocasio-Cortez gets the economics of budget deficits, job creation – Business Insider
Working In These Times is dedicated to providing independent and incisive coverage of the labor movement and struggles for workers’ rights. A job guarantee will be required for us to start addressing … Continue reading It’s Time for the Climate Movement to Embrace a Federal Jobs Guarantee
Once an outsider, her radical economic thinking won over Wall Street. Now she’s changing the Democratic Party. Kelton’s core idea is that the government can’t run out of money or go bankrupt, … Continue reading Stephanie Kelton Has The Biggest Idea In Washington
A good listen where you learn: The expected effects of the new tax policy The reason why governments issue bonds instead of just printing money Why the size of the budget deficit … Continue reading Stephanie Kelton explains how the government budget affects the economy and the mechanics of student debt forgiveness
Everyone knows governments need to tax before they can spend. What Modern Monetary Theory presupposes is, maybe they don’t. The concept is not really as radical as you think, it actually describes … Continue reading The Radical Left-Wing Theory That the Government Has Unlimited Money – VICE
IT might make you feel better but tomorrow if the US Federal Government, or Australia or the UK repaid the entirety of its national debt, it would make not one dollar’s difference … Continue reading What if every government paid off its national debt?
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.
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