Keeping Score
I promise to stop when the battle is won. Until then, here’s another attempt to improve understanding and shift our broken thinking about government “deficits.”
I promise to stop when the battle is won. Until then, here’s another attempt to improve understanding and shift our broken thinking about government “deficits.”
In this piece, we study the interaction between the government and nongovernment sectors while retaining the consolidation hypothesis.
MMT is frequently criticized for consolidating the treasury and the central bank. In this post, we will address these issues by tackling problems surrounding the nature of money and the role of taxes, and by beginning to deal with the consolidation argument.
This is Part 1 of a six part series in which we deal with critics of MMT. As readers of this blog know, our critics continually raise the same old tired critiques of MMT.
“All federal taxes must meet the test of public policy and practical effect. The public purpose which is served should never be obscured in a tax program under the mask of raising revenue.”
We have a big problem with the way the media reports on the national debt. It’s unclear if they don’t understand how federal debt works, if they intentionally write about it in the scariest way possible, or some combination of the two. Let’s start with a passage recently published by NPR: I don’t doubt the …
Taxation does not need to be the bitter salve taken with every spoonful of sugar—it is and always has been a way to provide for the general welfare.
The opening photo montage [on the Real Progressives home page] seems to be outlining an over-arching story about why American progressivism needs to make a special effort, now, to re-kindle the vision of Franklin Roosevelt. The activist, direct government spending of Roosevelt’s New Deal pulled America from the depths of the Great Depression, mobilized the …
Steven Hail explains the basics of Modern Monetary Theory using the Australian government as an example.