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, 22 February 2014

Banking is fraudulent.

Yes: F-R-A-U-D-U-L-E-N-T. Martin Wolf, chief economics commentator at the Financial Times said: “If we were not so familiar wi...

Friday, 21 February 2014

Should JG people be allocated to existing employers?

JG is short for “Job Guarantee”: that’s the idea that government can create an almost infinite number of relatively simple jobs for t...

Thursday, 20 February 2014

Nonsense from the New York Fed.

This short article by Andrew Haughwout of the Fed and friends was recommended by Mark Thoma, so I had a look. It’s a laugh a minute...

Wednesday, 19 February 2014

Mitchell and Wray’s flawed ideas on the Job Guarantee.

Summary. Bill Mitchell and Randy Wray are producing a new text book: Modern Monetary Theory and Practice”. Chapter 18 deals wit...

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Ralph Musgrave

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