This stark contrast between Republicans and Democrats was front-and-center at the second annual Modern Monetary Theory conference. People are starting to learn exactly how money works, and it’s about time, because the … Continue reading Modern Monetary Theory Grapples With People Actually Paying Attention to It
Economics professor and Bernie Sanders advisor Stephanie Kelton has helped develop a school of economic thought known as modern monetary theory. It simply shows how the economy works and where money comes … Continue reading Stephanie Kelton Wants You to Rethink the Deficit – Barron’s
House Democrats promise to handcuff their own agenda. …by resurrecting the “pay-go” rule that mandates all new spending is offset with budget cuts or tax increases. Along the way, she is playing … Continue reading Nancy Pelosi Promises That Democrats Will Handcuff the Democratic Agenda If They Retake the House
Capitalism’s near-death experience was a golden opportunity for progressives. But they blew it, says the Guardian’s economics editor Larry Elliott Yep. Maybe the young will finally stand up and fight the status … Continue reading Ten years after the financial crash, the timid left should be full of regrets
The growing split between progressives and party leaders on deficit spending could define the party’s future. Once people figure out exactly how money works – that when the government spends more than … Continue reading As the progressive push for big spending grows, so does the Democratic divide on the deficit
We need to talk about taxation. I do not think it means what you think it means. In countries whose governments issue their own currencies, taxes do not pay for federal services. Governments like those of the US, UK, China, Australia, Canada, etc run spend & tax economies, not tax and spend. … Continue reading What are taxes actually for? – Claire Connelly
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
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
