Do Bond Sales & Borrowing Finance US Deficit Spending?
Professor L. Randall Wray responds to this question and debunks the misunderstandings and fallacies surrounding it.
Do Bond Sales & Borrowing Finance US Deficit Spending? Read More »
Professor L. Randall Wray responds to this question and debunks the misunderstandings and fallacies surrounding it.
Do Bond Sales & Borrowing Finance US Deficit Spending? Read More »
A sovereign nation operating with its own currency in a floating exchange rate regime can always financially afford an JG/ELR program. So long as there are workers who are ready and willing to work.
Comments and responses on the Modern Money Primer Part 41.
MMP Blog #41 Responses Read More »
The US Dollar probably will not remain the world’s reserve currency. From the US perspective, that might be a disappointment. In the long view of history, it is inconsequential.
MMP Blog #34: Functional Finance and Exchange Rate Regimes: The Twin Deficits Debate Read More »
This week we begin a new topic: functional finance. Today we will lay out Abba Lerner’s approach to policy.
MMP Blog #31: FUNCTIONAL FINANCE: Monetary and Fiscal Policy for Sovereign Currencies Read More »
We will look to the frequent claim that the US is “special”—while it might be able to run persistent government deficits and trade deficits, other countries cannot.
MMP Blog #25: Currency Solvency and the Special Case of the US Dollar Read More »
It is best to think of the net saving of the nongovernment sector as a consequence of the government’s deficit spending—which creates income and savings.
MMP Blog #21: Government Budget Deficits and the “Two-Step” Process of Saving Read More »
Comments and responses on the Modern Money Primer Part 14.
MMP Blog #14 Responses Read More »
Your kids are not strapped with debt. Just the debt of ignorance we place on them by repeating debt and deficit myths.
Economics Bores Far Too Many People For Progressives to Make Real Progress Last Read More »