New Economic Perspectives

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Ripping Off Pensioners is Wrong- Stephanie Kelton – New Economic Perspectives

Brad DeLong has a post up today in which he advocates an expansion of the Social Security system.  He opens with the following paragraph: Edward Filene’s idea from the 1920s of having companies run employer-sponsored defined-benefit plans has, by and large, come a-crashing down. Companies turn out not to be long-lived enough to run pensions with…

Tough Love. Freight Train Style- Stephanie Kelton – New Economic Perspectives

President Obama, who met with Greek Prime Minister Antonis Samaras at the White House yesterday, is reported to have said that while Athens can’t rely exclusively on austerity for its economic recovery, it will need to take tough action: It is important that we have a plan for fiscal consolidation, to manage the debt, but it…

The Two-Headed Central Bankista Coin – Stephanie Kelton – New Economic Perspectives

Like all good Central Bankistas, Charles Evans (Chicago Fed) and Dennis Lockhart (Atlanta Fed) insist that if the Fed isn’t achieving its stated (employment and inflation) objectives, then it just isn’t doing monetary policy the right way.  The flip side of the Central Bankista position is that whenever the macro data are more-or-less consistent with Fed targets,…

How’s that Euro Thingy Working Out? An Update – L. Randall Wray- New Economic Perspectives

This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. By L. Randall Wray European integration was a grand plan, perhaps driven by lofty motives. I don’t take a position on that since I’m not European. But as we have argued from the very beginning, the set-up…

The Amazing Vanishing Act: Accounting Control Fraud Disappears from the Regulatory Lexicon

By William K. BlackCriminologists know that accounting control fraud causes greater financial losses than all other forms of property crime – combined.  Some of the world’s best economists, George Akerlof and Paul Romer, praised the S&L re…