Monthly Archives: January 2013

Keynes and the Classics Part 8

While I usually use Friday’s blog space to provide draft versions of the Modern Monetary Theory textbook that I am writing with my colleague and friend Randy Wray, today I am departing from that practice (deadlines looming) and devoting the … Read the rest of this entry »

Posted in MMT Textbook | 2 Comments

Exploring directions in fiscal policy

This blog extends the discussion in yesterday’s blog – Exploring pro-cyclical budget positions – which is why I am running them on consecutive days. Not that I think any of my readers (Austrian schoolers and other conservatives aside) have memory … Read the rest of this entry »

Posted in Economics, US economy | 1 Comment

Exploring pro-cyclical budget positions

Sometimes one agrees with a conclusion but realises the logic that was used to derive the conclusion was false. Which means that the person will get things wrong when applying the logic to other situations. This is almost always the … Read the rest of this entry »

Posted in Economics | 15 Comments

Britain caught in the mire of its own policy failure

It is a public holiday in Australia – celebrating our national day. For the indigenous Australians, it is symbolically “invasion day” – the day the colonialists came and usurped their rights and engaged in a systematic destruction of their culture … Read the rest of this entry »

Posted in UK Economy | 30 Comments

Saturday Quiz – January 26, 2013 – answers and discussion

The reference to Invasion Day in this week’s quiz title is in solidarity with the indigenous brothers and sisters in Australia. The other name for yesterday (January 26, 2012) is Australia Day, our national day. It marks the day that … Read the rest of this entry »

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Saturday Quiz – January 26, 2013

Welcome to the Invasion Day – Billy Blog Saturday Quiz. The quiz tests whether you have been paying attention over the last seven days. See how you go with the following questions. Your results are only known to you and … Read the rest of this entry »

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Keynes and the Classics Part 7

I am now using Friday’s blog space to provide draft versions of the Modern Monetary Theory textbook that I am writing with my colleague and friend Randy Wray. We expect to complete the text during 2013 (to be ready in … Read the rest of this entry »

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Keynes and the Classics Part 6

While I usually use Friday’s blog space to provide draft versions of the Modern Monetary Theory textbook that I am writing with my colleague and friend Randy Wray, today I am departing from that practice (deadlines looming) and devoting the … Read the rest of this entry »

Posted in MMT Textbook | 6 Comments

ILO …. ILF … IMF

The International Labour Organization (ILO) released its latest – Global Employment Trends 2013 – yesterday (January 22, 2013), which carried the sub-title “Recovering from a second jobs dip”. The way things are going in policy circles next year’s ILO Trends … Read the rest of this entry »

Posted in Economics, IMF | 9 Comments

Okun’s Law survives 50 years – trouble for the neo-liberals

The IMF recently released an interesting Working Paper – Okun’s Law: Fit at 50? – which considers the relationship between the unemployment rate and real GDP growth. I mentioned Arthur Okun in yesterday’s blog. The paper is useful because it … Read the rest of this entry »

Posted in Economics | 5 Comments