Steve Roth  (at Asymptosis) I just had occasion, in replying to a correspondent, to reiterate much of the thinking in my recent MMT Conference presentation. I thought it might be a useful and comprehensible form for some readers, so I’m reproducing it here. I’ve also explained this at somewhat painful length here. Correct me if I am wrong […]

Monetary Sovereignty, Sanctions and Russian Economic Policy The central role of economic sanctions in the US/EU strategy against Russia has returned international political economy to the center stage if it had ever left it.  Here are some thoughts occasioned by Adam Tooze’s interesting analysis of Modern Monetary Theory (MMT) as perceived by the Russian economic policy apparatus, […]

Note:This was going to be short pieces about things I missed during a week of illness. It turned into a Very Long Piece riffing on two posts from Capital Gains and Games. And that’s without even mentioning the bravura work Stan Collender is doing there: see, for instance, this note that a deficit reduction bill […]

Mark Thoma posted yesterday Is Galbraith Right that Deficits are Never a Problem? on Paul Krugman’s NYT piece I Would Do Anything For Stimulus, But I Won’t Do That (Wonkish) on MMT and soveriegn debt (using Angry Bear’s posting of Jamie Galbraith’s testimony to Congress as a link), and has included Jamie Galbraith’s response. It […]