Tag: MMT

The entire foundation of neo-liberal economics (the “mainstream”), the golden nirvana of the Tea Party Libertarian Free Marketeers, is a house built upon the sand (pdf).  So-called free markets only work when you make some fundamental, and very foolish assumptions about how humans behave.  And you know what you get when…

A great, short, talking-head video featuring Mike Norman, economist and trader who’s been a Wall Street fixture for more than 30 years.  He appears regularly on CNBC and Bloomberg TV.  His blog, Mike Norman Economics is a staple for the MMT crowd.  He’s commenting here about the stupid way people…

Try wrapping your brain around this bit of MMT. Now this may shock you, because nearly everyone believes a dollar bill is a dollar. But it isn’t. It’s just evidence you own a dollar. A dollar bill is a title to a dollar. If you own a house, the evidence you own it…

You might have heard that the S&P downgraded several European nations this week.  What you probably didn’t hear was why.  Hidden in the appendix of the downgrade report is this gem. In our opinion, the political agreement does not supply sufficient additional resources or operational flexibility to bolster European rescue operations, or…

One of the qualitative features of Modern Monetary Theory is that nations that have their own sovereign currency are not subject to the same constraints of countries that use another nation’s currency.  A quick look at France and Britain and the reaction of France to a threatened sovereign debt downgrade…