Most of us know Fred as Mr. Rogers from the children’s television program “Mr. Roger’s Neighborhood”. Now, you might find it strange or even a bit juvenile of myself to invoke Mr. Rogers as an opportunity to teach interested laypersons and students of MMT. But rest assured, in my view, it is neither strange nor[…]
Q: “Wouldn’t a decrease in CEO salaries help job creation and could also decrease the debt THEN?” What we need to do is ignore CEO salaries and focus on the macro level. Here, we understand that the market, business, and CEOs do not fund the US economy – the US Government does. Because the US[…]
If you are from Champaign Illinois or study economics at the University of Illinois, then you know who James Tobin is. Fig. 1: Tobin! Tobin was from Champaign Illinois. I, too, was born in Champaign-Urbana. Now, some of you might be wondering what all this “Tobin business” is that I’m up to. Well, frankly, it’s[…]
Don’t you just “love” the logic of socialist organisations? In the DSA’s Vol. XLIV, No. 2, Fall 2016 article, “Labor, the Left and the After-Bern”, Bob Master opines: “I am 100% clear that the main task for labor and the left between now and November 8 is to defeat Donald Trump, who is the most[…]
Mitchell brings the hammer down on mainstream economists and those within the Post-Keynesian school who have tried to reestablish their credibility by distancing themselves from orthodox thought post GFC. Modern Monetary Theory – what is new about it? – Part 2 (long)
Mitchell brings the hammer down on mainstream economists and those within the Post-Keynesian school who have tried to reestablish their credibility by distancing themselves from orthodox thought post GFC. Modern Monetary Theory – what is new about it?
The Federal government of the United States is a currency-issuing government. This means that whenever it spends, it simply credits an account with its IOU, which is a number with a fancy “$” symbol. To type a number does not require one to have numbers on hand prior to typing it, nor does one require[…]
Nothing the length of a book chapter today. Just a short note with the intent to erase ideology, correctly aligning our thoughts towards reality. Firstly, MMT. MMT (Modern Monetary Theory) is not a theory in the sense of “Hey, I have developed an opinion here that possibly explains the monetary system.” MMT is, in fact,[…]