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, 19 February 2013

Mervyn King thinks helicopter drops blur the distinction between political and economic decisions. He’s wrong.

I’m a fan of Mervyn King. But in this speech in October 2012 he made a few mistakes. He pointed out (correctly) that helicopter drop...

Monday, 18 February 2013

Why are banksters so shy of making a profit?

Contradicting someone, or demolishing their arguments can be difficult. Much better, where possible, is to prove they are contradicting...

Sunday, 17 February 2013

Professional economists are tumbling to the merits of helicoptering. What took them so long?

E.g. see here and here. As advocates of Modern Monetary Theory (MMT) have been pointing out for some time, the government / central ...

Thursday, 14 February 2013

Tim Congdon is clueless.

I’ve made reference before on this blog to Tim Congdon’s ignorance on monetary matters. His latest blunder is to claim in the Financia...

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Ralph Musgrave

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