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

Reflections on the 2nd International MMT Conference – Part 2

I am now on a train heading back from Galway to Dublin for tonight’s event. This is Part 2 of my responses to the conversations I had and presentations I attended during the Second International Modern Monetary Theory which was … Read the rest of this entry »

Posted in Debriefing 101, Fiscal Statements, Framing and Language, Job Guarantee | 26 Comments

Reflections on the 2nd International MMT Conference – Part 1

I have very little free time today. I am now in Dublin and am travelling to Galway soon for tonight’s event (see below). Last evening I met with some Irish politicians at the Irish Parliament and had some interesting conversations. … Read the rest of this entry »

Posted in Central banking, Debriefing 101, Fiscal Statements, Framing and Language, Job Guarantee | 26 Comments

MMT and the external sector – redux

This blog post is written for a workshop I am participating in Germany on Saturday, October 13, 2018. The panel I am part of is focusing on external trade and currency issues. In this post, I bring together the basic … Read the rest of this entry »

Posted in Capital controls, Debriefing 101, Fiscal Statements | 101 Comments

Understanding what the T in MMT involves

I’ve been meaning to write about this topic for some time, but a Tweet the other day reminded me that there was still major misunderstandings of what Modern Monetary Theory (MMT) represents and that it was time to clarify some … Read the rest of this entry »

Posted in Debriefing 101 | 22 Comments

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 | 15 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 | 14 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 | 50 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