Say you don’t understand money without saying you don’t understand money. “What if people lose faith in the dollar?” “What if nobody will buy our Treasurys?” “We’d love to have Medicare for All, but we’d need to raise taxes.” In this RP Live, Eric Tymoigne will explain how a monetarily sovereign government creates and spends …
RP Live – Money, The Treasury & The Fed with Eric Tymoigne Read More »
There never has been the kind of independence supposed by orthodox economists.
In this blog we look at the myth of Fed independence from its creator, the Congress and from the Treasury.
It has been commonplace to speak of central bank independence—as if it were both a reality and a necessity…
So, who is responsible for this fiasco? Or for the last one? Or the next? Any reasonable person can see that the present system is untenable.
It is up to academics and informed lay-people alike to alter the understanding of banking in the public consciousness.
Jared Bernstein, longtime economic advisor to Joe Biden asked the MMT academics some questions. They answered.
The US financial system is extremely complicated and this series sheds light only on some corners of that system by focusing on the banking sector.
Given that the concept of leverage will be used often in the upcoming posts, this post spends some time explaining what leverage is and some of its impacts on the balance sheet of any economic unit.