…prison term, however rampant the violations of federal constitutional rights, as long as the conviction was in state court, because states, or more accurately, state judicial branches are sovereigns whose…

…sovereign debt the new government would have to take on after a breakup witht the United Kingdom versus its anticipated oil revenues. Standard & Poor’s issued a nuanced assessment of…

…production (though they can be exchanged for such inputs), and they cannot be, are not, consumed. The stock of financial assets can increase in several ways. 1. A sovereign currency…

…three) places: • Deficit spending. 1. By government (federal — the sovereign “currency” issuer). 2. By private individuals and businesses (using loans from banks, which are chartered by government to…

…sovereign debt for borrowers such as Spain, Portugal and Ireland are at their lowest levels since before the crisis. Foreign investors are scooping up properties in Spain, where housing prices…

…the monetary union as “incomplete and imperfect.” On the one hand, its members have sovereign powers that include issuing debt; on the other hand, they do not have the risk-sharing…

…identify, but which appears to have been the Dred Scott opinion in 1856—that the federal government must treat sovereign states (no, not, say Canada and Mexico and France, but, say,…

…so offending the sovereign dignity of 36 states that, in self-defense, they would enter into a military treaty with Russia and attack Washington using an allied force comprised of the…

…excessive accumulation of societal wealth in the form of net government capital—in other words, government debt was too low. Given the debt secured by government-held social wealth ought to be…

…that trumps dimensionless theory, and has brought a deep, nuts-and-bolts understanding of money, debt, and financial institutions to a discipline where that understanding has been inexcusably absent. Witness: a whole…