By Marshall Auerback, Stephanie Kelton and L. Randall Wray
Should the federal government bailout Detroit? That’s the question everyone is debating. We think the discussion should be expanded well beyond this narrow question. Detroit is the canary in the coal mine, but it’s symptomatic of a bigger problem, which is the lack of jobs and decent demand in the economy.
Posted in L. Randall Wray, Marshall Auerback, Stephanie Kelton
Tagged detroit, infrastructure, jobs, Modern Monetary Theory
By J.D. Alt
Somehow a great confusion has arisen. It has divided our nation into feuding, bickering camps, caused many to view their own government as a ruthless competitor, and is now seriously threatening us with, among other things, a frightening deluge of collapsing bridges. The confusion is about money—what it is, where it comes from and, most important, whether there is enough of it to pay for all the things we need as a nation.
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