Demands on time in the MMT community include (i) providing “simple as possible” explanations of “basic MMT” for public consumption and (ii) exploring theoretical and policy ideas informed by an understanding of those basics together with insights from related approaches to economics. Although the latter task is perhaps more enticing for those who ( Read more... )

"October 2. People are asking my thoughts on Occupy Wall Street. Here's an article about five ways OccupyWallStreet has succeeded. But notice the level on which it has succeeded: public opinion. In the middle ages, there was universal agreement that the church was corrupt for hundreds of years before the church began to reform. Even then it did not ( Read more... )

North Dakota has had the nation’s lowest unemployment ever since the economy tanked. What’s its secret?
Ellen Brown
posted Aug 31, 2011
In an article in The New York Times on August 19th titled “The North Dakota Miracle,” Catherine Rampell writes:

Forget the Texas Miracle. Let’s instead take a look at North Dakota,
which has the lowest unemployment ( Read more... )

Paul Krugman made the following aside in his post Paleomonetarism.

I used that term - it’s probably not original, but who knows? - in a recent post about the increasingly obscure meaning of the money supply.
Google knows, that's who. I posted the following comment in response, which is awaiting moderation.

According to a Google search for " ( Read more... )

Stewart hits Ben Bernanke on quantitative easing
"The Daily Show" compares Fed chief's recent currency-printing denial with contradictory rhetoric from March 2009

From Center for Economic and Policy ResearchBy Dean Baker ( Read more... )

( As they prepare for holiday reading in Tuscany, City bankers are buying up rare copies of an obscure book on the mechanics of Weimar inflation published in 1974. )

Here's his old camp councilor. No, I'm not kidding about that.

Clusterfuck Nation: What Is It?
By James Howard Kunstler
on July 26, 2010 9:26 AM

The New York Times ran a story of curious import this morning: "Mel Gibson Loses Support Abroad." Well, gosh, that's disappointing. And just when we needed him, too. Concern over this pressing matter ( Read more... )

While the last recession is probably technically over, post-bubble depression clearly continues...

Post WW-II Consumer Credit

( Read more... )

As mentioned before, data continues to build strongly that the US has indeed been sliding into a textbook deflationary downdraft, literally our first since the 1930s. Deflations generally sap the ability of economies to snap back from downturns, and in addition to making for subdued recoveries, also usually leaving them quite vulnerable to future ( Read more... )