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
Eurostat: March Industrial production down by 1.4% in the euro area and by 1.3% in the EU compared with March 2022
EU industrial production continues to stagnate: In March 2023, the seasonally adjusted industrial production decreased by 4.1% in the euro area and by 3.6% in the EU, compared with February 2023, according to estimates from […]
Climate Crisis
Rupert Read, Émile P. Torres: Radical Longtermism and the Seduction of Endless Growth
A Critique of William MacAskill’s ‘What We Owe the Future’ Read HERE
National Politics
Ted Snider: Zelensky’s NATO bid falls flat
The reaction to his application for accelerated membership was muted, exposing the limits of the West’s military involvement in this war. Read Here President Volodymyr Zelenskyy makes statement about NATO application for membership on Sept. […]
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