Author Archives: Devin Smith

More on the DOJ’s Prosecution Policy

Posted on September 11, 2015 | Comments Off

William D. Cohan in the later part of his post “Justice Dept. Shift on White-Collar Crime Is Long Overdue” over at NYT extensively presents and supports NEP’s Bill Black’s views from Bill’s recent post “Now the DOJ Admits They Got it Wrong“.

Comments Off on More on the DOJ’s Prosecution Policy

Posted in Uncategorized

MMT Primer in Italian

Posted on August 13, 2015 | Comments Off

For all our Italian speaking visitors, our friends over at RETE MMT have undertaken the arduous task of translating Randy Wray’s MMT Primer into Italian. The project is a work in progress and not all posts have been translated as yet. As they add to their list of translated posts, we will update this list to reflect their accomplishments. The links will take you directly to the relevant post on RETE MMT.

Continue reading →

Comments Off on MMT Primer in Italian

Posted in L. Randall Wray

Tagged Italian, MMT, Modern Monetary Theory, RETE

Teoría Monetaria Moderna – Kindle Version

Posted on August 7, 2015 | Comments Off

For our spanish speaking (and reading) friends, the spanish version of Randy Wray’s book Teoría Monetaria Moderna is now available as a Kindle e-book. The details are available here.

Comments Off on Teoría Monetaria Moderna – Kindle Version

Posted in L. Randall Wray

Three UMKC Professors Among The Nine Who Predicted Eurozone Crisis

Posted on August 5, 2015 | Comments Off

KCUR.org feature includes recorded interview with Randy Wray and others regarding the current crisis in the eurozone. Randy explains that some economists predicted the problems with the European Monetary Union with an explanation of sectoral balances.

Comments Off on Three UMKC Professors Among The Nine Who Predicted Eurozone Crisis

Posted in L. Randall Wray

Tagged ECB, Eurozone, greece, MMT, Modern Monetary Theory

S&P threatened to downgrade Brazil to junk

Posted on July 30, 2015 | 3 comments

By Felipe Rezende
Hobart and William Smith Colleges

S&P has issued a negative outlook regarding Brazilian sovereign debt. The S&P’s announcement stated that “Over the coming year, failure to advance with (on- and off-budget) fiscal and other policy adjustments could result in a greater-than-expected erosion of Brazil’s financial profile and further erosion of confidence and growth prospects, which could lead to a downgrade. The ratings could stabilize if Brazil’s political certainties and conditions for consistent policy execution–across branches of government to staunch fiscal deterioration–improved. It is our view that these improvements would support a quicker turnaround and could help Brazil exit from the current recession, facilitating improved fiscal out-turn and provide more room to maneuver in the face of economic shocks consistent with a low-investment-grade rating.”

Continue reading →

3 Comments

Posted in Felipe C. Rezende

Tagged austerity, Brazil, S&P

Ahead of their time?

Posted on July 15, 2015 | 1 comment

Julie Verhage and Alex Balogh have published a piece over at Bloomberg about 9 people who saw the Greek Crisis many years before everyone else did. Several names you will recognize from NEP. Three are from UMKC plus Warren Mosler. They warned about the euro system and crises like Greece. You can read the article here.

1 Comment

Posted in Uncategorized

It Simply Cannot Work

Posted on July 15, 2015 | 1 comment

Pavlina Tcherneva discusses Greece’s Bailout with Richard Aldous on American Interest. You can listen here. She describes a deal that seems to contain more austerity than was initially proposed, and calls some of its economic incentives perverse. She discusses why the economic situation in Greece today is in some ways worse than was America’s Great Depression, and compares the decision to bail out Greece to Ireland’s austerity experience.

1 Comment

Posted in Pavlina R. Tcherneva

Tagged greece

NEP’s Pavlina Tchernerva on RT discussing Greece

Posted on July 13, 2015 | 5 comments

Pavlina appears on RT’s Boom Bust segment discussing Greece and austerity. She appears starting at 18 minutes.

5 Comments

Posted in Pavlina R. Tcherneva

Tagged austerity, greece

MINDS Conference in Sao Paulo, Brazil

Posted on June 26, 2015 | Comments Off

Rio de Janeiro- RJ. On July 24, the Multidisciplinary Institute for Development and Strategies (MINDS) will gather top policymakers, economists, and analysts at the FORD-MINDS Conference on Banking, Financial Instability, and Financial Governance in Brazil to discuss the structure of Brazil’s financial system to ensure stability for a growing and equitable economy. The conference, is being organized by MINDS with support from the Ford Foundation, and will take place on Friday, July 24, at the Fundação Getulio Vargas (FGV/EESP), Rua Itapeva 474, in São Paulo. Conference details are below.

Continue reading →

Comments Off on MINDS Conference in Sao Paulo, Brazil

Posted in Uncategorized

David Leonhardt Strikes Again

Posted on June 14, 2015 | 1 comment

By June Carbone
Robina Chair of Law, Science and Technology
University of Minnesota Law School

David Leonhardt strikes again. As he now seems to do with some regularity, he takes a complex body of work and reduces it to a soundbite, eliminating the complexity and uncertainty that underlies the research. His soundbite this time links two parent families to upward mobility, and notes that two different dynamics produce two parent families: high income and religion. He then replicates maps that purport to show these linkages.

Continue reading →