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.
Finance
Business Insider: Food delivery with third-party apps like Grubhub and Uber Eats is booming, but no one’s making money. Here’s why their business is broken
New York just passed a temporary 15% cap on third-party delivery commissions and a limit of 5% on marketing contributions and other related fees. And Uber Eats, which just made a bid to buy Grubhub, […]
EU politics
El Nacional Cat.: Spain withdrew billions of euros from Catalan banks after referendum
The day after the Catalan independence referendum, so on 2nd October 2017, the Spanish state quietly removed the money public companies and authorities held in the two largest Catalan banks, Banc Sabadell and CaixaBank. Read […]
EU politics
Frances Coppola: Merging Deutsche Bank And Commerzbank Won’t Solve Their Problems
Fundamentally, this proposed merger isn’t about creating a robust and profitable bank. It is all about German politics. Germany would suffer considerable loss of face if its largest bank were forced into the ignominious European […]
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