You cannot possibly understand the debate about the government’s budget (and critique the deficit hysteria that has gripped our nation across the political spectrum from right to left) without understanding basic macro accounting.
This primer seeks to fill the gap between formal presentations in the academic journals and the informal blogs. It will begin with the basics to build to a reasonably sophisticated understanding.
Jared Bernstein, longtime economic advisor to Joe Biden asked the MMT academics some questions. They answered.
While details in operating procedures have changed through time, the federal funds rate has progressively gained in importance as a relevant operating tool since the 1920s.
Now that we have an understanding of how the balance sheet of the Fed works, it is possible to go into the details of how the Fed operates in the economy in terms of monetary policy.
Part 1 reviewed basic balance-sheet mechanics. This post begins to apply them to the Federal Reserve System (Fed).
If you cannot put your reasoning in terms of a balance sheet, there is a problem in your logic.
Let’s start telling the truth about Social Security. We are educators. So let’s educate people on the basic facts.
It is certain that no government anywhere, ever, has committed so much to benefit so few.
