MMT on the Internet

MMT on the Internet

TWO QUICK ANNOUNCEMENTS. 1. Modern Monetary Theory vs. the Austrian School First, Warren Mosler will be featured in a debate of MMT versus Austrians. Here are the details: Monday, June 3, 2013; 6:15pm until 9:15pm in CDT Those in NYC can participate in Room 103, Jerome Greene Hall, Columbia Law School. Others can view it … Read more

Turkey: The economics of #OccupyGezi

Turkey: The economics of #OccupyGezi

Andy Warhol was truly visional when he noted that everyone would get their 15 minutes of fame in the future. I got mine when I tweeted Saturday morning that American Hospital, owned by the Koç Group, had sent staff and equipment to the conglomerate’s Divan Hotel near Taksim Square to help out those hurt by … Read more

Latest US GDP Numbers Confirm Consumer-Led Expansion but Government and Exports were Weaker than Previously Thought

The second revision of GDP data released today by the Bureau of Economic Analysis confirmed that the U.S. economy expanded at a moderate 2.4 percent annual rate in the first quarter of 2013. The figure for overall growth was almost unchanged from the 2.5 percent of last month’s advance estimate. However, there were significant changes … Read more

WSJ Warning on Japan’s Fiscal Sphincter

WSJ Warning on Japan’s Fiscal Sphincter

You have to wonder what they are snorting over at the Wall Street Journal. Read this and weep: Tokyo Panel Urges Abe to Tighten Finances Here’s the conceit. “Fiscal reconstruction has become all the more important” because of Prime Minister Shinzo Abe’s aggressive monetary and fiscal stimulus measures, the report said, while warning that a … Read more

Brazil, Land of the Past?

Brazil, Land of the Past?

Barring major corrections in economic policy, economic growth in Brazil is likely to remain low. Brazil has achieved, over the last years, a position of international prominence like never before. There were even those who were tempted to believe that Stefan Zweig’s prophecy – Brazil, land of the future [1] – had finally become true. But … Read more

Honest Economics

Honest Economics

Can you be wrong a thousand times? You can, if your reasoning is based on media concoctions, wherein some events receive excessive and biased coverage and other, less sensational events are ignored, according to the whims of advertising contracts. What sells is the information “commodity” supposedly expected by the undiscerning public: sensations interlaced with commercials. … Read more