Category Archives: Economics

The catch-all category for my blogs reflecting my professional expertise as a full professor of economics.

Friday lay day – the neo-liberal Groupthink conspiracy continues in Australia

Its my Friday lay day blog and today it comes from a dark London (given the hour). At present, there is an event going on in Australia that sums up what is wrong with our conception of the economy. The … Read the rest of this entry »

Posted in Economics, Friday | 13 Comments

US Federal Reserve should not increase interest rates

Greetings from London in the early morning! If we went back a few years and dug out all the predictions and scare campaigns that were being issued by mainstream economists and their conservative ‘think tank’ conduits about the impending disaster … Read the rest of this entry »

Posted in Central banking, Economics, US economy | 14 Comments

The roots of MMT do not lie in Keynes

I am currently working on an introductory chapter to a collection I have prepared for my publisher (Edward Elgar) which describes the evolution of Modern Monetary Theory (MMT). The task might appear to be straightforward but in fact is rather … Read the rest of this entry »

Posted in Economics | 32 Comments

Greece – now the conservatives are denying there was austerity

The Project Syndicate recently (August 6, 2015) published an Op Ed by conservative Edmund Phelps – What Greece Needs to Prosper. The article was widely syndicated by the conservative media and represents part of the conservative narrative to conveniently revise … Read the rest of this entry »

Posted in Economics, Eurozone | 10 Comments

PQE is sound economics but is not in the QE family

The conservative forces including those ‘Tories’ that are within the British Labour Party (aka New Labourites) continue to gather their forces to counter the growing threat posed by Jeremy Corbyn to their secure world as neo-liberal, Tory-lite hopefuls. They are … Read the rest of this entry »

Posted in Economics | 45 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 | 61 Comments

Corbyn should stop saying he will eliminate the deficit

The New Labour group are clearly getting desperate in Britain and Blair himself has come out again to vilify Jeremy Corbyn and predict a Labour annihilation at the next general election. Clearly Blair and his cronies haven’t understood that their … Read the rest of this entry »

Posted in Economics | 40 Comments

Jeremy Corbyn must break out of the neo-liberal framing

Two articles in the UK Guardian this week summarise what is going on with the British Labour Party at present. The first (August 3, 2015) – Jeremy Corbyn’s supporters aren’t mad – they’re fleeing a bankrupt New Labour – refutes … Read the rest of this entry »

Posted in Economics, Politics, UK Economy | 32 Comments

British Labour must escape from its austerity lite prison

I imagine we have all been keeping an eye on the evolving sham that is the British Labour Party election contest. When former leader Tony Blair, who will be forever remembered as being George Bush’s ‘poodle’ when he took Britain … Read the rest of this entry »

Posted in Economics, Politics | 43 Comments

IMF on Greece – they haven’t learned from their mistakes

In the most recent take of the Greek crisis, the IMF seems to have come out as being the reasonable part of the Troika as a result of its last minute release of a document where it said that Greece’s … Read the rest of this entry »

Posted in Economics, Eurozone | 13 Comments