Econoclast Rosser on economics prize

Barkley Rosser has been deeply involved in the economics of John Maynard Keynes, along with nonlinear dynamics. In Econospeak, a blog billed as the “Annals of the Economically Incorrect,” he comments on the recent awarding of the Nobel Memorial Prize (needless to say, not in the group of Nobels awarded in fields such as literature, peace,

11 Oct 2017

New York Times features new MMT brief!

Stephanie Kelton takes the Modern Monetary Theory (MMT) case about federal deficits and debt to the readers of the New York Times in a piece posted to the paper’s site today. We are suffering from a deficit obsession, according to her in this op-ed piece. Objections to the tax plan’s unfairness and lack of realism

06 Oct 2017

Correcting GDP for big finance; A new website venture

I was in New York yesterday at the New School for Social Research to be there for an informal presentation by Jacob Assa, a stock-flow-consistent modeling enthusiast. I seek to incorporate the principles of this approach to modeling into work that I do, including my collaborative effort with Tai Young-Taft. Assa argues that the GDP

04 Oct 2017

Article: Recent anthropological thought supports heterodox views

The New Yorker reviews two new books in anthropology that have a bearing on stories economists tell. It is interesting to note that the up-to-date work on prehistoric societies in the article is still in line with work from the 1960s suggesting that early humans (before settled civilizations) lived in egalitarian societies and did not

27 Sep 2017

First Annual Conference of Modern Monetary Theory underway

This Kansas City conference began last night and runs through Sunday. For those of us who cannot attend, the conference panels can be viewed online! The page for live steaming video seems to be working. Our readers will recall that MMT comes up often in this space.

22 Sep 2017

A thoughtful blog

Just a short post to mention and recommend the reddytoread blog of Sanjay G. Reddy of the New School for Social Research. I have added it as an item under “Assorted Links.” Among subjects tackled in recent posts are debates about possible justifications for economic inequality and the BRICs economies (Brazil, Russia, India, and China).

20 Sep 2017

New webpage: A fiscal policy model

As some readers may have noticed over the weekend, this website has launched a new page devoted to the fiscal policy model that I have been working on with colleague Tai Young-Taft. We envision the page as developing into a central place where readers can find 1) links to our papers and other resources available

18 Sep 2017

Does a rock music trend show the way for economics?

A big spread in last Sunday’s New York Times reports, to quote its headline, that “Rock’s Not Dead; It’s Ruled by Women”–or, more precisely “an emerging wave of female and non-binary performers working below the mainstream.” The article names 15 “standout” acts in this new wave in rock and roll. I put as many as I

11 Sep 2017

Finally making some sense of MMT, exchange rates, and the international economy

One relatively late-to-develop aspect of Modern Monetary Theory (MMT) has been the theory of the exchange rate in the economy envisioned by MMT proponents. As I have said before, the key points advocated by MMT are: 1) functional finance (fiscal policy in service of macroeconomic stabilization goals, not vice-versa); 2) chartalism; and 3) government employer-of-last-resort

09 Sep 2017

Key economic policy issues brew in Washington

As Congress returns from its vacation, the U.S. president is trying to get his legislative agenda off the ground, having been distracted with an attempt to repeal Obama’s health care law and a controversy related to the dismissal of an FBI director, among other matters. This April article from Derek Thompson of The Atlantic summarizes

07 Sep 2017
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