Trying to Make Sense of a Manic Monetary Theory

By: Sunday June 8, 2014 3:50 pm

My main reservation with Modern Monetary Theory is probably this: It is named a monetary theory, yet its proponents expand its scope – in all directions, it sometimes seems – to include topics that have nothing to do with monetary theory. I think it’s reasonable to expect a monetary theory to describe the way money works, and nothing else.

 

MMT’s Job Guarantee: Oasis or Mirage?

By: Saturday May 31, 2014 5:20 pm

MMT, at least as advertised to liberals, postulates a job guarantee. One of my problems with MMT is the way various proponents’ wish lists get conflated with the theory.

How to Restore the Good Name of Government

By: Friday February 21, 2014 5:40 pm

Why is it that Washington village “progressives,” and their associates in other parts of the country who are nevertheless part of the Washington village culture, often ask useful questions, but, almost always deliver, underwhelming answers?

Who Needs a Balanced Trade Policy?

By: Sunday January 26, 2014 6:10 pm

It’s easy to recognize that after many years of trade deficits accompanying implementation of trade agreements beginning with NAFTA the US needs to change what it’s doing. Many, including Robert Borosage of the Campaign for the American Future (CAF), advocate for balanced trade and they contrast that with the so-called “free trade” policies we have now.

Rationalization and Obligation, Part VI: What the President Ought to Do, What He Probably Will Do

By: Wednesday October 16, 2013 4:25 pm

If the President is obligated to obey the 14th amendment, then he should be doing whatever he can to use the other options to end the debt ceiling crisis. He should not be playing chicken with the Republicans over the debt ceiling and the shutdown. Both are dangerous to the economy, and there is a real risk of default in allowing the Treasury’s daily available balance to fall to the level it will be at as of October 17th.

Stop “the Great Betrayal”: Kabuki Update

By: Saturday October 5, 2013 7:52 am

It now looks like the big media and leaders in both parties are no longer focusing on the Government Shutdown crisis, but are now moving on to the notion that the shutdown is melding with the upcoming probable breaching of the debt limit to create a combined mother of all fiscal crises. Along with this, the media and many politicians, encouraged by the President’s standing “strong, strong, strong,” are now directing attention away from whether ObamaCare will be delayed or compromised, to other types of ransom the Administration might pay in return for both re-opening the Government and also providing an increase of an undetermined amount in the debt limit.

Ezra Is Terrified Because of His Framing

By: Thursday September 19, 2013 5:50 am

What happened to the responsibility of the Press to put other choices on the table by acknowledging their existence and talking about them?

Do the Democrats Really Want to Bear the Blame for a Crash that Wall Street Will Cause?

By: Saturday September 14, 2013 8:00 am

Lynn Parramore makes the point that the next crash is coming and probably will be blamed on the Democrats. It’s a great point, but it needs to be pursued further.

What if we have another Republican sweep in 2014, like 2010, but worse? Then we’re going to have more policies that increase inequality. Even less regulation, causing even more domination of our politics by corporations and the financial sector.

Declaring the Grand Bargain Dead Is Premature

By: Sunday September 1, 2013 9:00 am

Stories in The Washington Post and the New York Times have some in the blogosphere proclaiming that it’s time to celebrate the death of the Grand Bargain, and others at least raising a question about its death. I’ll go on record as saying that celebrating its death is definitely premature.

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