Category Archives: Fiscal Statements

The British Labour Fiscal Credibility rule – some further final comments

Over the last weekend, it seemed that we had a return of the Spanish Inquisition with a prominent British academic, who by his own words designed the fiscal rule that British Labour has unwisely adopted, repeatedly demanding that MMT Tweeters … Read the rest of this entry »

Posted in Britain, Fiscal Statements, Framing and Language, UK Economy | 38 Comments

A summary of my meeting with John McDonnell in London

It is Wednesday and I am reverting to my plan to keep my blog posts short on this day to give me more time for other things. Today, I will briefly outline what happened last Thursday when I met with … Read the rest of this entry »

Posted in Britain, Fiscal Statements, Politics, UK Economy | 67 Comments

IMF continues to tread the ridiculous path

I am back in Australia now and I don’t have to stand on my head to write (a reference to the hassles of trying to maintain some order while travelling to different destinations on an almost daily basis). Last week, … Read the rest of this entry »

Posted in Britain, Fiscal Statements, IMF, UK Economy | 15 Comments

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 | 27 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

Precarious private balance sheets driven by fiscal austerity is the problem

The media has been giving a lot of attention in the last week to the 10-year anniversary of the Lehman Brothers crash which occurred on September 15, 2008 and marked the realisation, after months of denial, that there was a … Read the rest of this entry »

Posted in Central banking, Economics, Fiscal Statements, National Accounts | 31 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