Provoked partly by some recent posts by Paul Krugman, which seem to imply that understanding the institutional structure of the banking system is irrelevant to…
This is a syndicated repost published with the permission of New Economic Perspectives. To view original, click here. Opinions herein are not those of the Wall…
This is a syndicated repost published with the permission of New Economic Perspectives. To view original, click here. Opinions herein are not those of the Wall…
It’s starting to look like QE might be indirectly responsible for a dangerously volatile situation in US financial markets. And 10-year Treasury notes hit a…
Bill Mitchell has a really great piece up today at his wonderful blog, billyblog. After briefly discussing the Modern Monetary Theory (MMT) emphasis on the…
Since the crisis of 2008, professional and academic economists have grown increasingly concerned that something is wrong with their profession. Sometimes that anxiety springs only…
Brad DeLong says he often wondered why Milton Friedman was willing to accept the need for government regulation in the world of money and banking,…
The 2008 financial crisis has been oozing slowly down the DC memory hole for some time now, as a series of destructive and economy-crushing budget battles has taken center stage in Washington. But the debate over outgoing Fed Chief Ben Bernanke’s successor has reignited a lot of the pain and outrage that the 2008 debacle caused. That debate, and the President’s obtuse support for Larry Summers, is also casting a very harsh light on the White House’s basic competence, its seemingly dim grasp of the causes of the financial collapse, and its blasé and corrupt attitudes toward the correct response to it.
President Obama will soon name a successor to Ben Bernanke for the position of Chair of the Federal Reserve’s Board of Governors, and Brad Delong recently offered his views on what qualifies someone as a strong candidate for that position:
Paul Krugman is justifiably appalled at what he calls the “war on the unemployed”, the accelerating right-wing campaign to subdue, discipline and pauperize the jobless. Yet here is nothing new in this campaign. Economic conservatives and market fundamentalists have always tended to believe that the private enterprise system is both self-correcting and stringently just, and that unemployment results from a misguided combination of indulgent maternal do-gooding and inept government interference with the austere and efficient rectitude of market operations.
