As I mentioned before Christmas, I have been working on a summary of modern monetary theory to be published in our PDF shop. I initially
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Keen’s Law
Steve Keen wrote this on Substack yesterday: YouTube popped a video into my feed of Niall Ferguson (the author of The Ascent of Money: a financial
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Economic questions: the Wynne Godley question
This is one of a series of posts that will ask what the most pertinent question raised by a prominent influencer of political economy might have been,
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Are government debt and trade deficits linked – and does it matter?
I was asked this question on the blog yesterday by Anja Cradden: I have a slightly related, slightly tangential question… is there a relationship between
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There are no free markets
Markets are not natural, spontaneous or free. They are legal, institutional and political creations of the state. Without law, money, regulation, wages, accounting standards and
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Glossary entry: Borrower of last resort
I promised a commentator here yesterday that I would explain the term ‘borrower of last resort’ by writing a new glossary entry on the issue.
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Zack Polanski, migration, the Greens, and an economics of care
Zack Polanski issued a Christmas message yesterday that demanded the country solve the problem of small boats crossing the English Channel. As he pointed out,
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Deficit myths at Christmas
As if one Christmas day video was not enough, Steve Keen put this out last night. It’s a rework of a previous video here. If
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The MMT toolbox and why it matters
I am told that this is the standard response to pro-modern monetary theory posts on social media right now: Every tool in the MMT toolbox
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