Tag: Macroeconomic policy

Not All Keynesian Spending Is Equal

Yves here. Richard Murphy makes an extremely important point about how Keynes’ belief in the importance of well-functioning, cohesive societies and how sound economic policy could promote them. However, he skips over the fact that Keynes did not approve of much of Keynesian thinking, particularly the American Keynesianism developed and promoted by Paul Samuelson. Samuelson […]

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Secular Stagnation: Demand Is Indeed the Culprit

Yves here. This post describes how much of the economics discipline has settled on a neat, plausible, and wrong explanation of secular stagnation. The only good news is at least pretty much no one buys Larry Summers’ theory. By Servaas Storm, Senior Lecturer of Economics, Delft University of Technology. Originally published at the Institute for New […]

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STATEMENT: House Budget Committee, “Reexamining the economic costs of debt”, Nov 20, 2019

By Randy Wray. Originally published at New Economic Perspectives. By L. Randall Wray This blog is based on the testimony I provided to the US House of Representatives. My written statement will be published in the Congressional Record (a version is also at the Levy Economics Institute: http://www.levyinstitute.org/publications/statement-of-senior-scholar-l-randall-wray-to-the-house-budget-committee. The full statement was co-authored with Yeva […]

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The Lords and Ladies of Discipline: An Interview with Matt Stoller

Yves here. Implicitly, in this interview, Matt Stoller is referring to the contemporary incarnation of mainstream economics, which is neoclassical economics. It is worth remembering that neoclassical economics started being formalized in the late 19th century by thinkers like Leon Walras, Carl Menger, and William Jevons. One of the reasons their ideas took hold was […]

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