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 ‘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

On the path to MMT becoming mainstream

Over the last few years, it is clear that Modern Monetary Theory (MMT) is achieving a higher profile and the attacks are starting to come thick and fast. I see these attacks as being a positive development because it demonstrates … Read the rest of this entry »

Posted in Debriefing 101, Economics, Fiscal Statements, Framing and Language, Job Guarantee, Reclaim the State | 33 Comments

My response to a German critic of MMT – Part 3

This is the third (and final) part of my response to an article published by the German-language service Makroskop (March 20, 2018) – Modern Monetary Theory: Einwände eines wohlwollenden Zweiflers (Modern Monetary Theory – Questions from a Friendly Critic) – … Read the rest of this entry »

Posted in Debriefing 101, Eurozone, Reclaim the State | 45 Comments

My response to a German critic of MMT – Part 2

This is the second part of my response to an article published by the German-language service Makroskop (March 20, 2018) – Modern Monetary Theory: Einwände eines wohlwollenden Zweiflers (Modern Monetary Theory – Questions from a Friendly Critic) – and written … Read the rest of this entry »

Posted in Debriefing 101, Eurozone, Reclaim the State | 37 Comments

My response to a German critic of MMT – Part 1

Makroskop is a relatively new media publication in Germany edited by Heiner Flassbeck and Paul Steinhardt. It brings some of the ideas from Modern Monetary Theory (MMT) and other analysis to German-language readers. It is not entirely sympathetic to MMT, … Read the rest of this entry »

Posted in Capital controls, Debriefing 101 | 54 Comments

Where do we get the funds from to pay our taxes and buy government debt?

I have been (involuntarily) copied into a rather lengthy Twitter exchange in the last week or so where a person who says he is ‘all over MMT’ (meaning I presume, that he understands its basic principles and levels of abstraction … Read the rest of this entry »

Posted in Central banking, Debriefing 101, Fiscal Statements | 107 Comments

The New Keynesian fiscal rules that mislead British Labour – Part 3

This is Part 3 (and final) in the series which examines the robustness of claims made by two British academics about the desirability of the British government (particularly Labour) adopting further fiscal constraints on their flexibility to advance well-being in … Read the rest of this entry »

Posted in Britain, Debriefing 101, Fiscal Statements | 25 Comments