Author Archives: Devin Smith

Sen. Warren Wants to Jail Those Who Caused 2008’s Meltdown

Posted on April 29, 2019 | Comments Off on Sen. Warren Wants to Jail Those Who Caused 2008’s Meltdown

NEP’s BIll Black appears on The Real News Network and examines the historical context of Warren’s bills for easier prosecution of banks and corporate leaders. You can view with transcript here.

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Faked Emissions May Send Volkswagen CEO to Prison

Posted on April 19, 2019 | Comments Off on Faked Emissions May Send Volkswagen CEO to Prison

NEP’s Bill Black appears on The Real News Network and examines the corrupt corporate worlds of Germany and the U.S. and how Trump ignores corporate malfeasance. You can view with a transcript here.

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Financial Crisis & Fraud – A Guide with former Financial Regulator William Bill Black

Posted on April 18, 2019 | Comments Off on Financial Crisis & Fraud – A Guide with former Financial Regulator William Bill Black

NEP’s Bill Black appears on acTVism from Munich (in English) to define and talk about the role of a financial regulator. The discussion then turns to financial crisis – S&L debacle as well as the 2008 crash.

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New York Sues Big Pharma for Opioid Crisis

Posted on April 15, 2019 | 1 comment

Sackler and PurduePharma profited from “suffering and death,” NYC AG Letitia James says. NEP’s Bill Black discusses the case on The Real News Network. You can view with a transcript here.

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Democracies With Sovereign Currencies Can Dance

Posted on April 11, 2019 | 16 comments

By Anonymous
April 9, 2019

The mainstream attack on MMT is nothing less than an attempt to disguise the glaringly obvious error at the center of the mainstream view of economic thinking.  Mainstream economics is a nihilistic theory devoid of moral anchor.  Mainstream economics ceased to explore the operation of the real economy decades ago and has become an intellectual exercise that assumes the organization of modern society is justified simply because that is how it is.  While some mainstream economists may want to tinker around the edges to make the system more fair few really want to call into question the organizing realities.  The biggest reality they do not wish to face is that money is a symbolic creation rather than an actual productive resource.

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MMT, Models, Multidisciplinarity

Posted on April 8, 2019 | 14 comments

By Pavlina R. Tcherneva

The attacks on MMT are taking a comical turn. A recent one, courtesy of Noah Smith, takes aim at a paper I wrote in the 90s titled “Monopoly Money: The State as a Price Setter”.

It focused on a key MMT idea—that the currency-issuing monopolist (just like any other monopolist) is a price setter. The economics that I was taught didn’t even consider the implications. So I wrote down a few equations to look at different scenarios of prices paid and real resources purchased by a currency-issuing government, given the level of aggregate tax liability and private saving desires.

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Billions From Deutsche Bank Despite Trump’s Bankruptcies, Defaults, and Financial Malfeasance

Posted on March 20, 2019 | Comments Off on Billions From Deutsche Bank Despite Trump’s Bankruptcies, Defaults, and Financial Malfeasance

The latest developments about Trump’s relationship to Deutsche Bank could be the unraveling with Deutsche Bank and Trump facing a serious legal probe on bank fraud by the House Financial Services Committee chaired by Rep. Maxine Waters. NEP’s Bill Black appears on The Real News Network to discuss. You can view here with transcript.

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Clinton-Era Official Says Left Should Lead Following Center-Right Failures

Posted on March 11, 2019 | Comments Off on Clinton-Era Official Says Left Should Lead Following Center-Right Failures

On The Real News Network, NEP’s Bill Black analyzes Assistant Secretary of Treasury Brad DeLong’s statement that neo-liberals should get out of the way and let the left lead since coalition with Republicans did not work. You can view here with transcript.

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The Incoherence of a Serious Economist

Posted on March 6, 2019 | 8 comments

By J.D. ALT

Lawrence Summers, according to Lawrence Summers, is a “serious economist.” He has just written an op-ed in the Washington Post in which he seriously explains why Modern Money Theory—as proposed by “fringe economists,” as he calls them—is a recipe for disaster. I am going to leave it to the “fringe economists” to rebut Mr. Summers; (I’m confident that professors Wray, Kelton, Tcherneva, Tymoigne, and Fullwiler can take care of that job quite easily). What I want to consider is something even more fundamental: How is it that someone who presents himself as a “serious economist” can get away with speaking incoherently while expecting us—the everyday citizens of America—to take what he is saying as true?

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Middle Class Loses, Plutocrats Win With Trump’s Tax Cuts

Posted on March 1, 2019 | 1 comment

Trump’s “middle class tax cut” is a tax hike. NEP’s Bill Black says Trump could have been a popular President, if he hadn’t lied about middle class tax cuts and building infrastructure in Bill’s latest appearance on The Real News Network. You can view with transcript here.

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