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.

Wednesday, 21 August 2013

Are academic economists a waste of space?

Certainly a significant proportion are. Scott Sumner is one, I suspect. I’ve often read his blog posts, but don’t remember anything...

Sunday, 18 August 2013

Government sponsored insurance of bank deposits is nonsense.

When deciding where to place or invest one’s money, there are a variety of options ranging from the near 100% safe to the risky. Inve...

Saturday, 17 August 2013

The OECD and TBTF.

Bill Mitchell has pointed to some of the nonsense emanating from the OECD, e.g. here and here . As Bill rightly points out, the leve...

Thursday, 15 August 2013

Paying interest to lenders who don’t risk losing their principal misallocates resources.

Inflation apart, your money is virtually risk free if you lend to a responsible government: e.g. most North European governments. Plu...

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Ralph Musgrave

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