RALPHONOMICS

Commentaries (some of them cheeky or provocative) on economic topics by Ralph Musgrave. This site is dedicated to Abba Lerner. I disagree with several claims made by Lerner, and made by his intellectual descendants, that is advocates of Modern Monetary Theory (MMT). But I regard MMT on balance as being a breath of fresh air for economics.

Saturday, 27 February 2010

Och ai Hamish.

As I pointed out yesterday, two defective articles appeared on Feb 24th by normally reliable U.K. economics commentators, Martin Wolf and Ha...

Friday, 26 February 2010

Martin Wolf should read this blog.

Two normally reliable U.K. economic commentators went off the rails on Feb 24th: Martin Wolf in the Financial Times and Hamish McRae in The ...

Thursday, 25 February 2010

Does the U.S.central bank understand economics?

Warren Mosler has produced a wealth of evidence that the U.S. central bank the Federal Reserve or “Fed” does not understand how the banking ...

Tuesday, 23 February 2010

Hypocrisy of the year.

Hypocrisy of the year prize (2009) undoubtedly went to Lloyd Blankfein of Goldman Sachs for his claim to be doing “God’s work”. It looks ver...

Friday, 19 February 2010

Did the UK national debt increase in 2009?

Ostensibly the debt increased in 2009 by about £200bn. But the entire lot was quantitatively eased. That is, arguably, there was NO increase...

Thursday, 18 February 2010

Strange ideas on banking at the Fed.

Thanks to Warren Mosler for drawing attention to a recent speech by Narayana Kocherlakota the new president of the Federal Reserve Bank of...

Monday, 15 February 2010

Four Solutions for Greece.

This is a modern reproduction of a Trireme (ancient Greek warship). Thanks to the Trireme Trust for permission to reproduce the picture (tak...

View web version

About Me

Ralph Musgrave

View my complete profile

Powered by Blogger.