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
“The dirty secret of almost all government is that we don’t know whether we’re doing the right thing.” Does evidence-based policymaking help government make better decisions, or is it a waste of … Continue reading Evidence-based policymaking: is there room for science in politics?
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?
A morally odious theory is empirically unsupportable and increasingly questioned by a younger generation of central bankers. Expect politicians to make more noise about the Fed’s controversial choices after Yellen is gone. … Continue reading NAIRU: not just bad economics, now also bad politics
Paying people to work would be a more direct—and less expensive—way to lift them out of poverty. If the federal government really wants to harness the benefits of employment to improve beneficiaries’ … Continue reading Work Requirements Won’t Improve Medicaid. A Jobs Guarantee Might. – The Atlantic
Reconsidering my years as a deficit hawk. Journalist learns what government deficits really are and admits he was wrong in the past. Impressive. Source: Confessions of a Columnist – The New York … Continue reading Confessions of a Columnist – The New York Times
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?
Neoclassical economics has become an unquestioned belief system and treats those challenging the creed as dangerous So very true. Source: Heretics welcome! Economics needs a new Reformation | Larry Elliott | Business | The Guardian Continue reading Heretics welcome! Economics needs a new Reformation | Larry Elliott | The Guardian
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
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