The Slack Wire

[Cross-posted from the new blog at jwmason.org .] ... or at least don't blame him for increased federal debt.   Arjun and I have...

I've been saying for a while that people should stop assuming that a Greek default implies leaving the euro for a new currency. Much of ...

I try not to spend too much time criticizing orthodox economics. I think that heterodox people who spend all their energy pointing out the s...

1. Monetary policy may operate on (a) the quantity of bank liabilities (money); (b) the quantity of bank assets (credit); (c) the price of o...

The more you read in the history of macroeconomics and monetary theory, the more you find that current debates are reprises of arguments fro...

The last post got some very helpful comments from MisterMR (the regular commenter formerly known as Random Lurker) and Kevin Donoghue. Both...

I recently picked up Capital and the 21st Century again. And what's striking to me, on revisiting it, is the contrast between the descr...

Maybe the most interesting paper at this past weekend's shindig at Bretton Woods was Duncan Foley's . [1] He argues, essentially, th...