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Search Results for: inflation
Reserve Balance Misconceptions
By Dan Kervick Mark Thoma, writing in the Fiscal Times, has called for the Federal Reserve to take “bold, creative moves” to alleviate unemployment. Thoma’s suggestions contain nothing novel, and I suspect Thoma is fully aware that what our economy … Continue reading
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Posted in Dan Kervick
Niall Ferguson’s Latest Gay Bashing is the Least of His Problems
By William K. Black (Cross posted at Benzina.com) It is always a disaster when devotees of theoclassical economists speak their minds in front of what they think are friendly audiences. Mitt Romney’s attack on 47% of Americans as leeches that … Continue reading
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Make ‘em Prove the Causality before They Cause Any More Suffering: Part Three, Reinhart – Rogoff Retrospective
This post is a more complete statement of my conclusions based on the analysis in Parts One and Two of this series. As I’ve explained in Part Two, there’s no reason in the Reinhart-Rogoff (R-R) data to believe that the … Continue reading
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Posted in Joe Firestone
Tagged Arindrajit Dube, austerity, Brian Hartley, Carmen Reinhart and Kenneth Rogoff, debt and deficits, debt-to-GDP ratio, Deepankar Basu, deficit reduction, Kansas City, Matthew Berg, Michael Ash, MMT, modern money theory, Robert Pollin, Thomas Herndon, University of Massachusetts, University of Missouri
The Penny Game
By Jonathan Denn This demonstration will work well in the classroom or barroom. There are five levels, the first is designed for someone who knows nothing about sector balances, each level adds a new variable and complexity.
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The Layman’s Case Against Austerity
By Stephanie Kelton Steve Kraske of The Kansas City Star recently interviewed me for a piece about austerity. The story ran in today’s paper. It doesn’t provide much depth (unlike bloggers, journalists have strict space constraints!), so I followed up … Continue reading
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Posted in Stephanie Kelton
Tagged austerity, debt-to-GDP ratio, full employment, tax holiday, unemployment
Make ‘em Prove the Causality before They Cause Any More Suffering: Part One
By Joe Firestone OK, austerity has always been about the causality. The people who are trying their best to get us to cut more and more spending, somewhat less than their best to get us to raise taxes, and who … Continue reading
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Posted in Joe Firestone
Tagged austerity, Brian Hartley, debt and deficits, debt-to-GDP ratio, deficit reduction, High Value Platinum Coin Seigniorage, HVPCS, Kansas City, Matthew Berg, Michael Ash, MMT, modern money theory, Reinhart and Rogoff, Robert Pollin, Thomas Herndon, University of Massachusetts, University of Missouri
The Lethal Lemons on the Road to Bangladesh
By William K. Black I wrote yesterday about the “control frauds” (in which the person controlling a seemingly legitimate entity uses it as a “weapon” to defraud) that target purchasers of bad quality goods (“lemons”) and employees. The example I … Continue reading
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Posted in William K. Black
Tagged austerity, Bangledesh, criminogenic, neoclassical economics, troika, wages
Debt-to-GDP Ratios and Growth: Country Heterogeneity and Reverse Causation, the Case of Japan (Ultra Wonky)
By Matthew Berg and Brian Hartley, Ph.D. students University of Missouri-Kansas City Summary We find that the correlation between government debt-to-GDP ratios and future growth in Reinhart and Rogoff’s (2010a and and 2010b) dataset results from outliers which come from … Continue reading
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Bitcoin’s Deflationary Weirdness
By Dan Kervick I appeared today on The Attitude, broadcast by WNHN 94.7 in Concord, New Hampshire, to talk with host Arnie Arnesen about the Bitcoin phenomenon. The podcast of the second hour of the show can be accessed at … Continue reading
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Posted in Uncategorized
Modern Monetary Theory – An Introduction: Part 3
By Dale Pierce III. Taxing and Spending MMT 101 The state’s money is a good store of value and a reliable medium of exchange because absolutely everybody needs at least a little of it. Even off-the-grid survivalists and doomsday preppers … Continue reading
