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.
Austerity
Perry Anderson – The Breakaway
Another outstanding article by Perry Anderson concerning the EU Read here
EU politics
Al Jazeera – Spain’s Sanchez drama: After toying with resignation, PM draws criticism
Spanish President Pedro Sanchez was never going to resign, the real question is whether this ploy will lead to any substantial reform of Spain’s judiciary, which remains largely unreconstructed since the Franco era. In ‘Al […]
Economics
Kyiv Independent: Trump calls on NATO to raise defense spending to 5% of GDP
As the EU already faces massive budget deficits, this would mean major cuts in expenditures for infrastructure, social services, eductation, and health services. The price for US hegemony Read HERE Berlin, Germany
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