Search Results for: Lerner

MMT Responds to Brad DeLong’s Challenge

By L. Randall Wray In recent days MMT has captured the attention of anyone who can fog a mirror—even those long thought dead. The critics are out in full force—from the crazy right to the insular left. A short list … Continue reading

MODERN MONEY THEORY: How I came to MMT and what I include in MMT

My remarks for the 2018 MMT Conference September 28-30, NYC L. RANDALL WRAY I was asked to give a short presentation at the MMT conference. What follows is the text version of my remarks, some of which I had to … Continue reading

Alexandria on the Daily Show: the Moral Economy and Modern Money

Michael Hoexter, Ph.D. The hopes of many progressives in the United States are being hitched to a new generation of left-wing Democratic politicians emerging to challenge both corporate Democrats and the Trump-loving radical-right Republican Party.  This movement has grown out … Continue reading

John Cochrane Loves the Rule of Law (Some Exceptions Apply)

By William K. Black December 22, 2017     Bloomington, MN As Brad DeLong aptly puts it, John Cochrane was once an economist.  Cochrane is now a right wing ideologue surrounded by similar ideologues at Hoover.  He is pushing his new chapter … Continue reading

MINSKY AND MODERN MONEY THEORY: Was Minsky a “forefather”?

By L. Randall Wray A few weeks ago, a video of a lecture that Hyman Minsky gave at Westminster College on Oct 30, 1991 was made available. Although the Levy Institute has some audio of Minsky, this is the only video … Continue reading

DEBT-FREE MONEY PART 4: AMERICAN COLONIAL CURRENCY

By L. Randall Wray In Part Three I argued that the government issues currency as its liability and imposes tax liabilities on its subjects/citizens that can be paid in that currency. When taxes are paid, both the government and its … Continue reading

THE VALUE OF REDEMPTION: DEBT-FREE MONEY PART 3

Sorry that it has taken me a while to get back to my multi-part series on debt-free money. This is the third part of the current series, although I had previously written several other blogs on the related topics of … Continue reading

MMT and Bernie Sanders

L. Randall Wray Yesterday Senator Bernie Sanders gave an important speech in which he invoked President Roosevelt’s “second bill of rights” in defense of his platform. As Bernie rightly pointed out, all of Roosevelt’s New Deal social programs to which … Continue reading

Why Understanding Money Matters in Greece

By Robert W. Parenteau March 06, 2015 As Greece staggers under the weight of a depression exceeding that of the 1930s in the US, it appears difficult to see a way forward from what is becoming increasingly a Ponzi financed, extend … Continue reading

“Debt-Free Money” and “ZIRP Forever”

By Scott Fullwiler I wrote a while back about how neoclassical economists don’t realize their view that interest on reserves (IOR) stops “printing money” from being inflationary also means that it’s impossible to create inflation by “printing money.”  See here. … Continue reading