The New Dark Age

'Socialism or Barbarism'

MMT

  • MMT, Marglin and Marx

    Let me start this post by quoting Noah Smith, liberal economist and Bloomberg journalist from his blog on Modern Monetary Theory (MMT): “The New York Times (NYT) just came out with a big glowing writeup of MMT, entitled “Time for a Victory Lap*”. This article aroused the anger of just about every macroeconomist on Twitter, and with good reason… Continue reading

    , ,

  • MODERN MONETARY THEORY or MAINSTREAM MONETARY THEORY?

    The discussion on how to respond to the deepening Crash of 2019 is focusing minds. It is recognised that interest rate manipulation and regular quantitative easing will not suffice to bring the global economy back into growth, especially now that international trade is so fractured. Increasingly main-stream economists are dabbling with the direct injection of… Continue reading

    , ,