EconoMonitor

Great Leap Forward

  • Does Obama Have A Platinum Coin Up His Sleeve?

    Forget gold. Buy platinum. The platinum coin idea is on a roll—I’ve heard it has climbed into the top five of Twitter Trending (whatever that is). It was the frontpage of HuffPost: http://www.huffingtonpost.com/2013/01/03/debt-ceiling-coin_n_2404653.html; Paul Krugman wrote about it http://krugman.blogs.nytimes.com/2013/01/02/debt-in-a-time-of-zero/?smid=tw-NytimesKrugman&seid=auto ; Josh Barro picked it up http://www.bloomberg.com/news/2013-01-03/why-we-must-go-off-the-platinum-coin-cliff.html; and Joe Weisenthal featured it: http://www.businessinsider.com/3-huge-myths-about-the-plan-to-save-the-economy-with-a-trillion-dollar-platinum-coin-2013-1. But the best [...]

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  • FDL BOOK SALON DISCUSSES MODERN MONEY THEORY, Hosted by William Black

    Some of you might be interested in participating in this discussion of my new book. Here are the details: {Update: go here to see how to participate: http://fdlbooksalon.com/} Greetings! At 5:00pm ET/ 2:00pm PT this Saturday, January 5, 2013 L. Randall Wray will be joining us to discuss his new book, Modern Money Theory: A [...]

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  • Why Does Brad DeLong Worry About Paying For Tax Cuts?

    Presumably Brad DeLong is happy that Congress did not push the economy over the cliff with the self-destruct austerity package it had designed to hold the country hostage. All that was simply to give Democrats the cover they needed to slash Social Security and other safety net programs. But Brad worries about the long-run effects [...]

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  • Let’s Leap the Fiscal Cliff: Who’s Afraid of Deficits, Anyhow?

    OK, did you leap last night? Aren’t you glad that the President and Congress bargained last night to increase your payroll taxes in order to take away 2% of your income for all of 2013? I guess that at least our “progressive” deficit doves are now happy that with higher payroll taxes, Social Security is [...]

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  • More News That You Just Cannot Makeup

    *Updated, with a fourth story added 1. How many Americans have been shot-to-death by guns since Sandy Hook? Oh, I know, guns don’t kill people. But, anyway, you know what I mean. Apparently no one has been keeping track of gun deaths in the US–that would be a bit inconvenient for our gun nuts. But [...]

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  • TROLL FRIDAY: AMERICA, LOCKED AND LOADED

    OK, it is Troll Friday and I’ve still got no Trolls stepping up to the challenge. Indeed, once I challenged them to go beyond their personal attacks, they all just crawled back into their little Troll Holes and curled up into little Troll Balls. No matter. I’m the Troll today. The public outcry over the [...]

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  • More News From the Financial Front: We’re Not Out of the Woods Yet

    Here’s a quick round-up of recent financial news. You cannot make this stuff up. 1. Yes, Crime Still Pays. What happens if you help Mexican drug lords launder $7 Billion of drug profits through US bank branches, and you finance purchases for international terrorists committed to attacks on America, and you have processed $60 Trillion [...]

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  • Lauren Lyster Learns MMT: Kelton On Capital Account TV Show

    Here is a must watch video: http://www.youtube.com/watch?v=Yiw8Lyw1XGc My colleague Stephanie Kelton. She hits that MMT ball right out of the park. This is the lesson you need. Another link related to this topic, Edward Harrison explains national accounting: http://www.creditwritedowns.com/2012/05/why-cant-people-understand-national-accounting.html Enjoy.

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  • AS GLOBAL GROWTH SLOWS, AUSTERIANS DEMAND MORE BLOOD-LETTING

    You don’t often encounter controlled experiments in the social sciences. Nations usually balk at using their economies as Guinea pigs. But right now they’re lining up to see if it really is possible to cut your way back to prosperity. So here’s the question: is starvation a cure for hunger? Over coming months we’ll find [...]

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  • MMT and Full Employment: Conference in Finland

    Sorry for the relative lack of silence–I’m just back from a conference in Finland. Details here: http://sorsafoundation.fi/2012/10/04/seminar-on-full-employment-policy/. The conference was live-streamed so perhaps some of you watched it. If not, you can see the video here: http://www.youtube.com/user/KaleviSorsaSaatio. In particular, my presentation is here: http://www.youtube.com/watch?v=sXY8mZKfXUY&feature=plcp; and James Galbraith’s is here: http://www.youtube.com/watch?v=Zi-SP8LkVd8&feature=plcp. The panel discussion that followed the [...]

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Edwin G. Dolan is an economist and educator with a Ph.D. from Yale University. Early in his career, he was a member of the economics faculty at Dartmouth College, the University of Chicago, and George Mason University. From 1990 to 2001, he taught in Moscow, Russia, where he and his wife founded the American Institute of Business and Economics (AIBEc), an independent, not-for-profit MBA program. Since 2001, he has taught at several universities in Europe, including Central European University in Budapest, the University of Economics in Prague, and the Stockholm School of Economics in Riga, where he has an ongoing annual visiting appointment. During breaks in his teaching career, he worked in Washington, D.C. as an economist for the Antitrust Division of the Department of Justice and as a regulatory analyst for the Interstate Commerce Commission, and later served a stint in Almaty as an adviser to the National Bank of Kazakhstan. When not lecturing abroad, he makes his home in San Juan Islands, Washington.

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