Category Archives: Debriefing 101

These blogs provide debriefs to those who a beguiled by the false logic paraded as economic theory by mainstream (neo-liberal) economists

The divide between mainstream macro and MMT is irreconcilable – Part 3

This is Part 3 (and final) of my series responding to an iNET claim that Modern Monetary Theory (MMT) and mainstream macroeconomics were essentially at one in the way they understand the economy but differ on matters of which policy … Read the rest of this entry »

Posted in Debriefing 101, Economics, Fiscal Statements | 14 Comments

The divide between mainstream macro and MMT is irreconcilable – Part 2

This is Part 2 of a three-part response to an iNET article (September 6, 2018) – Mainstream Macroeconomics and Modern Monetary Theory: What Really Divides Them?. In Part 1, I considered what we might take to the core body of … Read the rest of this entry »

Posted in Debriefing 101, Economics, Fiscal Statements | 13 Comments

The divide between mainstream macro and MMT is irreconcilable – Part 1

My office was subject to a random power failure for most of today because some greedy developer broke power lines in our area. So I am way behind and what was to be a two-part blog series will now have … Read the rest of this entry »

Posted in Debriefing 101, Economics, Fiscal Statements | 44 Comments

Fiscal space has nothing to do with public debt ratios or the size of deficits

The Project Syndicate is held out as an independent, quality source of Op Ed discussion. When you scan through the economists that contribute you see quite a pattern and it is the anathema of ‘independent’. There is really no commentary … Read the rest of this entry »

Posted in Central banking, Debriefing 101, Fiscal Statements, US economy | 34 Comments

MMT is just plain good economics – Part 1

On August 6, 2018, British tax expert Richard Murphy who is becoming increasingly sympathetic to the principles of Modern Monetary Theory (MMT) published a blog post, which recorded an exchange with one James Meadway, who is the economics advisor to … Read the rest of this entry »

Posted in Debriefing 101, Fiscal Statements, Friends like this, Reclaim the State | 63 Comments

Real resource constraints and fiscal policy design

There is an interesting dilemma currently emerging in Australia, which provides an excellent case study on how governments can use fiscal policy effectively and the problems that are likely to arise in that application. At present, the Australian states are … Read the rest of this entry »

Posted in Debriefing 101, Fiscal Statements, Job Guarantee, Labour costs, Labour Force | 40 Comments

The ‘truth sandwich’ and the impacts of neoliberalism

On June 15, 2018, the OECD released their report – A Broken Social Elevator? How to Promote Social Mobility – which provided “new evidence on social mobility in the context of increased inequalities of income and opportunities in OECD and … Read the rest of this entry »

Posted in Debriefing 101, Framing and Language, Friends like this, Labour Force, Reclaim the State | 17 Comments

A surplus of trade discussions

It is Wednesday and so I am only writing a few thoughts today for the blog, preferring to spend the day writing other more detailed academic material and doing final edits on our next Modern Monetary Theory (MMT) textbook (current … Read the rest of this entry »

Posted in Debriefing 101, Music | 116 Comments

Trade and finance mysteries – Part 2

I was running late yesterday and the blog post was already rather long so I left some matters concerning central banks for today. The question we address briefly today is what is the role of central banks in all these … Read the rest of this entry »

Posted in Central banking, Debriefing 101, Fiscal Statements, Japan | 34 Comments

Trade and external finance mysteries – Part 1

I have received many E-mails and direct twitter messages overnight and today following the ‘debate’ on Real Progressives yesterday, where trade issues and related financial transactions were discussed. I saw that section of the debate (after the fact) and concluded … Read the rest of this entry »

Posted in Central banking, Debriefing 101, Fiscal Statements | 143 Comments