Recently, the neglected question of why the US government borrows, given that it can print money, has arisen in the context of discussions surrounding a new documentary, Finding the Money. As L. Randall Wray observes in this one-pager, Modern Money Theory has been providing answers to this question for some time; and, he argues, it is a topic that mainstream economists are ill-equipped to address, since very few concern themselves with the monetary operations that underlie the question of why a currency-issuing government issues debt.
Economics
Bill Mitchell: US inflation rate down to 3 per cent and falling fast – it was transitory, folks
The inflation is burning out pretty quickly. I consider my assessment that this was always going to be a transitory period of inflation has been validated by the data. I also think we have reach […]
Economics
AutoCar – New car sales: UK records worst September since 1999
hip shortage continues to batter the industry, with registrations plummeting in a traditionally bumper month Read here
Economics
Yanis Varoufakis: Time to Blow Up Electricity Markets
The European Union’s power sector is a good example of what market fundamentalism has done to electricity networks the world over. With the end of cheap natural gas, retail consumers and businesses are paying the […]
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