Sunday, 28 November 2021

Deposit insurance is a taxpayer funded gift to private banks and the wealthy.

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  Over the two thousand or more years for which banks have existed, banks have never ceased to make the entirely dishonest promise to deposi...
Tuesday, 23 November 2021

George Selgin's poor criticisms of Prof Saule Omarova.

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Omarova is Biden's choice for “Comptroller of the Currency”, which more or less equals chief bank regulator in plain English far as I ca...
Thursday, 18 November 2021

No apologies are offered for the undiplomatic style of some of the articles on this blog.

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Reasons are as follows. Adam Smith said, “ People of the same trade seldom meet together, even for merriment and diversion, but the convers...
Wednesday, 17 November 2021

Project Syndicate's fake claim to be interested in submissions containing “original” and “insightful” ideas.

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E.g. see the first para of this self congratulatory intro to PS. If PS is so interested in “original and insightful” material, you have to ...
Tuesday, 9 November 2021

Strange argument by Simon Wren-Lewis on fiscal rules.

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  SW-L is a former Oxford economics prof. He argues in an article entitled “The danger of imprecise exceptions from fiscal rules” that the d...
Saturday, 30 October 2021

Whoopee: CUSP publishes long inconclusive article on MMT, the debt and deficit.

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  CUSP (Centre for the Understanding of Sustainable Prosperity) describes itself at the start of the article as “an internationally leading...
Saturday, 9 October 2021

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 Crowding out: a slight mistake by Stephanie Kelton and Bill Mitchell. One of MMT's main objections to the conventional wisdom involves ...