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

Modern Monetary Theory – what is new about it? – Part 3 (long)

I noted in Monday’s blog – Modern Monetary Theory – what is new about it? – that I am working on a paper (with my colleague Martin Watts) that will form the basis of a a keynote talk I will … Read the rest of this entry »

Posted in Central banking, Debriefing 101 | 10 Comments

Modern Monetary Theory – what is new about it? – Part 2 (long)

In yesterday’s Part 1 of this two-part blog – Modern Monetary Theory – what is new about it? – I introduced the idea that a major new contribution of Modern Monetary Theory (MMT) to economic theory was in its treatment … Read the rest of this entry »

Posted in Debriefing 101, Economics | 15 Comments

Modern Monetary Theory – what is new about it?

In a few weeks I am off to the US to present a keynote talk at the – International Post Keynesian Conference – which will be held at the University of Missouri – Kansas City between September 15-18, 2016. I … Read the rest of this entry »

Posted in Debriefing 101, Economics | 34 Comments

Overt Monetary Financing would flush out the ideological disdain for fiscal policy

There was an article (May 24, 2016) – Helicopter money: The illusion of a free lunch – written by three institutional bank economists (two from the BIS, the other from the central bank of Thailand), which concluded that Overt Monetary … Read the rest of this entry »

Posted in Central banking, Debriefing 101 | 32 Comments

The metamorphosis of the IMF as a neo-liberal attack dog

Today I am in Granada, Spain having an interesting time. Nothing public to report. I will be here until Thursday morning upon which I travel back to Madrid and the public events begin (see below). Today’s blog continues the analysis … Read the rest of this entry »

Posted in Britain, Debriefing 101, IMF, UK Economy, US economy | 6 Comments

Ultimately, real resource availability constrains prosperity

There are many misconceptions about what a government who understands the capacity it has as the currency-issuer can do. As Modern Monetary Theory (MMT) becomes more visible in the public arena, it is evident that people still do not fully … Read the rest of this entry »

Posted in Debriefing 101, Demise of the Left | 29 Comments

Flow-of-funds and sectoral balances

I have noted some misperceptions about the derivation, meaning and application of the so-called sectoral balances framework that is used in Modern Monetary Theory (MMT) to help explicate the relationship between the government and the non-government sectors. Some of this … Read the rest of this entry »

Posted in Debriefing 101 | 59 Comments

Modern Monetary Theory and Value Capture

I live in a Federation where the national government has the currency-issuing capacity and the states rely on their taxation and borrowing capacities to fund their spending. Our system is subject to significant vertical fiscal imbalances in that the Australian … Read the rest of this entry »

Posted in Debriefing 101, Economics | 15 Comments

Governments do not need the savings of the rich, nor their taxes!

In Chapter 24 of The General Theory of Employment, Interest and Money, Concluding Notes on the Social Philosophy towards which the General Theory might Lead, John Maynard Keynes confronted the issue of the “arbitrary and inequitable distribution of wealth and … Read the rest of this entry »

Posted in Debriefing 101, Economics | 62 Comments

The origins of the ‘leftist’ failure to oppose austerity

I note the calls for more discussion on the trap that the ‘left’ has made for itself by buying into the globalisation/political capture myth. As I have noted previously, I am currently researching a new book on this topic which … Read the rest of this entry »

Posted in Debriefing 101, Economics, Eurozone | 16 Comments