Saturday, 31 March 2012

Abba Lerner and Milton Friedman were smarter than Lawrence Summers and Tim Congdon.

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We are in a recession largely caused by excessive and irresponsible borrowing. Lawrence Summers in a recent article in the Financial Times ...
Thursday, 29 March 2012

Mosler Bonds.

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Congratulations to Messers Mosler and Pilkington for at least trying to do something about Euro periphery austerity. (h/t to Naked Capital...
Tuesday, 27 March 2012

The establishment’s schizophrenia on the subject of bank lending.

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Summary: Keynes said “look after unemployment and the budget will look after itself”. The theme of this post is “look after demand, and fin...
2 comments:
Monday, 26 March 2012

Cuts – what cuts?

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There is currently much foaming at the mouth in Britain by public sector workers on account of government having allegedly cut public secto...
1 comment:
Saturday, 24 March 2012

Modern Monetary Theory outsmarts DeLong and Summers.

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Thanks to Winterspeak (23rd March 2012) for drawing attention to this paper by Summers and DeLong. The argument in this paper is thus. ...
1 comment:
Friday, 23 March 2012

The European banking and political elite are in cahoots.

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The above is not an original suggestion. But it’s nice to see an additional person making the point. Second, some interesting stuff on i...
Thursday, 22 March 2012

Chinese woman arrested for shadow banking activity.

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This story may be of interest to those concerned about banks and how alternative banking systems might work (or fail to work). See in pa...