Search Results for: inflation

The Tories Refuse to Take Responsibility for the EU “Fault Lines” They Decry

By William K. Black The Tory insider and journalist Matthew D’Ancona has written a remarkably disingenuous op ed in the New York Times entitled “Europe’s Dangerous New Fault Line.” The setting for the op ed is three related crises that … Continue reading

Where Do the Troika, WSJ & NYT Think Deflation Comes From?

By William K. Black If the troika (the European Commission, ECB, and IMF) taught sex education students would believe that storks brought children, that sex had nothing to do with pregnancy, that confident women never got pregnant, and that women … Continue reading

The Troika Continues to Harm the Eurozone and the WSJ continues to Miss the Story

By William K. Black The European Central Bank’s (ECB) written policy is to maintain the eurozone inflation rate at just under two percent.  The ECB has consistently failed to achieve that goal.  Indeed, its failure has been growing steadily.  The … Continue reading

Kenneth Rogoff is an Even Worse Criminologist than Economist

By William K. Black Kenneth Rogoff, the creator of the fictional 90% budget deficit cliff, is back spreading new myths.  He has now ventured into white-collar criminology, without the benefit of any study of criminology.  The results are yet another … Continue reading

Taxes and the Public Purpose

By L. Randall Wray In previous instalments we have established that “taxes drive money”. What we mean by that is that sovereign government chooses a money of account (Dollar in the USA), imposes obligations in that unit (taxes, fees, fines, … Continue reading

Madness Posing as Hyper-Rationality: OMB’s Assault on Effective Regulation

By William K. Black In a rational world the Office of Management and Budget (OMB), under Presidents Bush and Obama, would have responded to the financial crisis by demanding an emergency effort as a top national priority to develop superb … Continue reading

WHAT ARE TAXES FOR? THE MMT APPROACH

By L. Randall Wray This is part of a series, following on from the last instalment that asked “Do We Need Taxes?”. Previously we have argued that “taxes drive money” in the sense that imposition of a tax that is … Continue reading

DO WE NEED TAXES? THE MMT PERSPECTIVE

By L. Randall Wray What do you get when you drop taxes? Well, Bitcoins. Sometimes the only appropriate response to critics is embarrassment. For them. Witness the following exchange on twitter:

Economists vs What Works: Lessons from the ETF Market

By Brian Andersen In my previous post I outlined the strategy used by Exchange Traded Funds (ETFs) to create financial assets that offer both price stability and high liquidity. I defined price stability as the ability to hold the asset … Continue reading

Those who the gods wish to destroy: Bernanke’s Triumphal Pride

By William K. Black Greetings form Guayaquil, Ecuador where I’m teaching a mini-course at ESPOL.  The course introduces students to the great economic debates of theory that shaped our dominant fiscal, monetary, and anti-regulatory policies in the decades before the … Continue reading