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.

Tuesday, 29 June 2010

Siemens to set up its own bank.

Good – they can’t possibly do worse than Lehmans, Northern Rock, Bernie Madoff, Fred the Shred, and the other bizarre assortment of people ...

Monday, 28 June 2010

Banks tried to foist debt on Australia which Australian didn't need.

We all know that banks are into skullduggery. But this takes some beating: they tried to foist extra debt on Australia when Australia was r...

Sunday, 27 June 2010

Unemployment does not make crowding out less likely.

It is a popular claim that crowding out won’t occur (or that it’s less likely) where there are significant unemployed resources. For example...

Friday, 25 June 2010

The "crowding out" concept is irrelevant.

First, definitions. The word government is used below to refer to politicians, bureaucrates, the legislature and central bank all combined....

Robert Skidelsky.

I recommended an article by Robert Skidelsky recently (see below). For Skidelsky fans, here is another article (in The Independent).

Friday, 18 June 2010

Recommended article in today’s F.T.

It’s by Robert Skidelsky . I don’t agree with every sentence, but it’s quality stuff.

Thursday, 17 June 2010

Idiots in high places.

Nick Clegg, the U.K.’s deputy prime minister, asked “"How will we pursue social justice with billions of pounds of taxpayers' money...

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Ralph Musgrave

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