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.
EU politics
Wolfgang Munchau – Ukraine: The cheerleading has to stop
Despite military setbacks, Vladimir Putin is still on course to achieve his strategic targets. Read Here
Austerity
dw – France: Christmas transport disrupted by prolonged strike
French strikers are still going strong Read here
Geopolitics
Turkish Minute: Erdoğan speaks of peace. His government prepares for war.
The divergence between Turkish President Erdoğan’s language and the lived reality of his rule is becoming too stark to ignore. While his speeches promise reconciliation and reform, his domestic and foreign policies reveal a trajectory […]
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