Jamie Morgan: To a member of the public it must seem weird that it is possible to state, as you do, such fundamental criticism of an entire field of study. The perplexing issue from a third party point of view is how do we reconcile good intention (or at least legitimate sense of self as […]
economics
It’s Wednesday and while there is a lot to write about, I am prioritising the release today of our latest research at the Centre of Full Employment and Equity (CofFEE). The release of what we are calling the – CofFEE Financial Resilience Barometer – Version 1.0 – is part of a research collaboration I have…
‘Growth is one of the stupidest purposes ever invented by any culture. We’ve got to have an ‘enough’. Always ask growth of what, and why, and for whom, and who …
The post Humanity sits at a crossroads as politicians re-sell the politics of public austerity appeared first on The Gower Initiative for Modern Money Studies.
Finding the Money follows economist Stephanie Kelton on an exploration of Modern Monetary Theory. Also appearing in the movie are Pavlina R. Tcherneva, L. Randall Wray, Mathew Forstater and Fadhel Kaboub. Soon coming to a theatre near you!
I have tried to document how the practitioners of the self-proclaimed ‘science of monetary policy’ have gone out of their way to salvage their paradigm—after the inflationary surge of 2021-2023 made it clear that the New Keynesian emperor was not wearing any clothes. All their elaborate tools and instruments, including the output gap, the unemployment […]
Det som är fel med mainstream nationalekonomi är inte att den använder modeller i sig, utan att den använder dåliga modeller. De är dåliga eftersom de inte bygger broar till de verkliga system där vi lever. Förhoppningsvis kommer det ensidiga, nästan religiösa, insisterandet på matematisk deduktiv modellering som den enda vetenskapliga aktiviteten värd att förfölja […]
Mainstream (neoclassical) economics has always put a strong emphasis on the positivist conception of the discipline, characterizing economists and their views as objective, unbiased, and non-ideological … Acknowledging that ideology resides quite comfortably in our economics departments would have huge intellectual implications, both theoretical and practical. In spite (or because?) of that, the matter has […]
The story behind Fiat Socialism By Carlos García Hernández “It’s not three, it’s four” – I remember distinctly when I had that thought. Intuition hit me. I was writing A …
The post Dalet appeared first on The Gower Initiative for Modern Money Studies.
When Angus Deaton arrived in the US four decades ago, he imagined he had something to say about economic inequality and how to tackle it that Americans might want to hear. Instead, the great economic minds of the time told him to shut up … As Deaton describes in his unsparing new book, Economics in […]
We do not instruct our students well in the art of crafting papers, possibly because there are so many idiosyncratic elements. Editing or refereeing manuscripts teaches us what distinguishes a well-crafted paper from an ordinary one. We should take on these chores not only because they are public services but also because they are the […]