Tag Archives: Monetary policy

You Know a Politician or Talking Head is Clueless When…..

You Know a Politician or Talking Head is Clueless When…..
People will work for decades to make the money they need to pay the bills and other necessities. Yet, fewer than 1 in 1000 people understand how this money actually gets into circulation and who benefits from our current system. Politicians and talking heads also do not understand this. Read more

Saving American Cities

Saving American Cities
So we've talked about before about what the Fed could do in terms of trying to force banks to invest more in the economy. They've been shoveling money to the big banks to keep them liquid. Of course, it's done far more than just keep them liquid. They've used all this money and they've been making a killing, a killing, record profits. But the question is: why aren't they doing more for the basic economy? And one would think one could start ... Read more

A General Without an Army

A General Without an Army
The irony is that for all Piketty’s reasonableness and respectableness, it is only the radical left and the labor movement that will push his program, if anyone is going to. However much his book has changed the conversation on inequality within economics and in the media — and it is really too soon to tell whether this is game-changer or flash-in-the-pan — his technocratic solutions are never going to come from the treasuries and central ... Read more

The World According to Modern Monetary Theory

The World According to Modern Monetary Theory
Too often the origins of our economic ills are cloaked by a mystical reverence for some autonomous money spirit. The economists behind Modern Monetary Theory (MMT) seek to lift money’s veil by studying the specific actions that occur as money is created, circulated, and destroyed. For those seeking a grand, unifying sociopolitical economic theory, MMT will disappoint. But as an analytic tool, MMT clarifies who holds genuine ... Read more

Americans Need Real Debate About the Fed

Americans Need Real Debate About the Fed
Most Americans likely have only a vague idea of what the Federal Reserve Board is and does for the economy. A substantial portion of the public has probably at least heard of Janet Yellen, the new chairwoman of the Fed. This is in large part because, as the first woman to be appointed to the position, she received somewhat more attention than would typically be the case. Beyond knowing the identity of the current head, however, and having a ... Read more