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Trump’s early economic policy actions numerous

Among the economic policy changes already effected or otherwise making  the headlines in the early weeks of the new Administration and Congress are the following: a federal government hiring freeze a “border tax” under discussion in Congress an order to waive or delay unspecified provisions of ACA health care law the early order to construct

10 Feb 2017
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For expansionists: a better infrastructure plan

I argued in my previous post against claims that the US economy faces tight limits to noninflationary growth–limits that would be passed in the event policymakers tried to increase GDP growth over a period of years. At this link, the Roosevelt Institute offers an example of the kind of fiscal policy action that Congress could take to

06 Feb 2017
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No “law” of growth justifies fiscal tightening

When  it comes to interpreting employment malaise, three mainstream groups vie for policy dominance, at least according to the reckoning of blogger and professor Brad DeLong at an conference session last year where mainstream economists faced off with scholars from one of the heterodox economics associations. (Here is a link to DeLong’s blog site.) One

17 Jan 2017
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Some interesting new economics links

Cyber economists: Soon Ryoo’s site Soon Ryoo’s research page, with plenty of free paper downloads—for initiates or those who are curious about research on the propertes of heterodox models. Ryoo is among those who have attempted to come up with Minsky’s financial fragility hypothesis in the context of an up-to-date model in equations, while he remains

21 Nov 2016
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New interactive dynamical systems from Kansas City conference

In the wee hours of last Tuesday morning, I returned from the 2016 International Post Keynesian Conference in Kansas City, Missouri, in the United States of course. (Conference webpage for the curious). My coauthor, Tai Young-Taft of Bard College at Simon’s Rock, and I each presented one paper. I presented a paper dealing with the

20 Sep 2016
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A model of the economy for the ecologically minded

Neoclassical (mainstream) environmental economics mostly works within a standard and very confining framework. For example: (1) it is not truly Keynesian in the sense understood by Keynes himself; (2) It mostly denies that there are resources for which there are no substitutes (for example, fresh water, which has a unique biological role); (3) it overly

24 Aug 2016
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Negative interest rates are not sufficient

In a post published last month, we saw Tom Palley and this blogger getting it mostly right about how pre-Keynesian thinking was impairing policymakers’ ability to see beyond interest-rate policy when dealing with less-than-perfect growth and job creation. (Yields on many government bonds are now below zero.) Those who read Palley’s article will remember that

08 Aug 2016
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Update: Viewing the interactive CDFs on this site

We posted about efforts to test the visibility of embedded interactive CDF content on our site in a post of a few days ago. After some additional work, we are releasing a new page dedicated to tips on ways you can view these CDFs, including recommended browser programs, etc. We hope the new page is helpful to

03 Aug 2016
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CDF Update: technical improvements to interactive dynamical systems

We can now update our earlier reports about our work to improve the visibility and functionality of our embedded Wolfram CDF content for you, the viewer. We have worked on JavaScript embedding code and believe we have managed to improve the visibility of the CDF below in Internet Explorer (IE download page). Earlier versions of

26 Jul 2016
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The world of NIRP

We have entered the era of negative interest rates, with over $11 trillion in sovereign bonds now paying such rates. This situation results in part from deliberate actions of central banks around the world to deal with deflationary conditions. Tom Palley criticizes negative interest rate policy (NIRP) as a macro policy in a new paper

01 Jul 2016
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