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

MMT is what is, not what might be

One of the things I have noted with regularity is that readers and other second-generation Modern Monetary Theory (MMT) bloggers often fall into the error which we might characterise as the “When we have MMT things will be different” syndrome. … Read the rest of this entry »

Posted in Debriefing 101 | 41 Comments

Currency-issuing governments never have to worry about bond markets

How many times have to heard a politician claim they had to cut government spending and move the fiscal balance to surplus because they had to engender the confidence of the bond markets. Apparently, this narrative alleges that if bond … Read the rest of this entry »

Posted in Central banking, Debriefing 101, Economics, Japan | 21 Comments

Why are CEOs now supporting basic income guarantees?

It does not quite add up. But then why should it. Spin is spin. On the one hand, we are being constantly told that the world has entered a new era of secular stagnation, driven by an ageing population and … Read the rest of this entry »

Posted in Debriefing 101, Job Guarantee | 44 Comments

Eurozone Dystopia – video presentation

Life returns to a more normal situation today as I have arrived back in Australia. But I have plenty to catch up on today so to free up some time I am posting the full video of my first presentation … Read the rest of this entry »

Posted in Debriefing 101 | 18 Comments

MMT predicts well – Groupthink in action

This blog will be a bit different from my normal fare. It provides insights into how entrenched a destructive and mindless neo-liberal Groupthink pervades the economics profession. For the last several years I have been on the ‘expert’ panel for … Read the rest of this entry »

Posted in Debriefing 101, IMF | 26 Comments

The ‘post-truth’ era – nothing new in mainstream economics

The dictionary says Post Truth is the “fact or state of being post-truth; a time period or situation in which facts have become less important than emotional persuasion”. But I prefer to be direct – not to mince words – … Read the rest of this entry »

Posted in Debriefing 101, Economics | 27 Comments

Hyman Minsky was not a guiding light for MMT

I am currently working on a book commissioned by Edward Elgar which will form an anthology of influential Modern Monetary Theory (MMT) literature – how it evolved – with a long introduction by me tying all this literature together. It … Read the rest of this entry »

Posted in Debriefing 101 | 21 Comments

Indexed bank reserve support schemes will not expand credit

On the Wikipedia page for economist Ricardo Reis we learn he was “Influenced by: Greg Mankiw”, which basically should tell you everything. Everything that is that would lead to the conclusion that his macroeconomics is plain wrong. Yet his connections … Read the rest of this entry »

Posted in Central banking, Debriefing 101 | 24 Comments

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 | 12 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 | 19 Comments