Канал: Deficit Owls

Pavlina Tcherneva: Coronavirus Response?

Pavlina Tcherneva: Coronavirus Response?

What's the Real Problem With Social Security?

What's the Real Problem With Social Security?

Foundations of Modern Monetary Theory

Foundations of Modern Monetary Theory

Money Did Not Come From Barter - It Came From Blood Feuds

Money Did Not Come From Barter - It Came From Blood Feuds

The Job Guarantee and Foreign Exchange Devaluation

The Job Guarantee and Foreign Exchange Devaluation

The Job Guarantee and Inflation

The Job Guarantee and Inflation

How The Fed Mishandled The 2008 Financial Crisis

How The Fed Mishandled The 2008 Financial Crisis

What Caused The Global Financial Crisis?

What Caused The Global Financial Crisis?

Federal Reserve Operations: Some Basics

Federal Reserve Operations: Some Basics

Cryptocurrency vs Fiat Money

Cryptocurrency vs Fiat Money

MMT: Taxes Drive Money

MMT: Taxes Drive Money

The Left is Wrong On Debt and Deficits

The Left is Wrong On Debt and Deficits

Where Did Money REALLY Come From?

Where Did Money REALLY Come From?

How Could Euro Nations Start A New Currency?

How Could Euro Nations Start A New Currency?

Government Spends First, THEN Borrows

Government Spends First, THEN Borrows

Endogenous Money, Explained Simply

Endogenous Money, Explained Simply

'Loanable Funds' and 'Crowding Out' Don't Exist

'Loanable Funds' and 'Crowding Out' Don't Exist

How Much Do You Really Know About Hyperinflation?

How Much Do You Really Know About Hyperinflation?

Bond Issuance Does Not Reduce Inflation

Bond Issuance Does Not Reduce Inflation

MMT Is A Lens, Not A Regime

MMT Is A Lens, Not A Regime

How The Federal Government Actually Spends

How The Federal Government Actually Spends

The Job Guarantee: What About Automation?

The Job Guarantee: What About Automation?

A Job Guarantee Creates Jobs Where People Are

A Job Guarantee Creates Jobs Where People Are

Wray: Politicians Know That Government Can't Go Broke

Wray: Politicians Know That Government Can't Go Broke

Minsky's Insight on Monetary vs. Fiscal Policy

Minsky's Insight on Monetary vs. Fiscal Policy

Warren Mosler: Discussion of Progressive Resource Allocation

Warren Mosler: Discussion of Progressive Resource Allocation

Warren Mosler: Discussion of Bank Reforms

Warren Mosler: Discussion of Bank Reforms

Modern Money Theory Is Spreading

Modern Money Theory Is Spreading

The Gold Standard Mostly Ended in 1933-34

The Gold Standard Mostly Ended in 1933-34

Universal Healthcare Probably Requires LOWER Taxes, Not Higher

Universal Healthcare Probably Requires LOWER Taxes, Not Higher

A Gold Standard Is Extremely Wasteful

A Gold Standard Is Extremely Wasteful

The Dollar's Value Dropped 95% Since 1900...But Standard of Living Rose 1000%

The Dollar's Value Dropped 95% Since 1900...But Standard of Living Rose 1000%

Currency Is Simply A Tax Credit

Currency Is Simply A Tax Credit

Government Is Money Monopolist, Therefore It Sets The Price

Government Is Money Monopolist, Therefore It Sets The Price

Against Free Banking: The Liability Side Isn't The Place For Market Discipline

Against Free Banking: The Liability Side Isn't The Place For Market Discipline

Former Banker: The Fed is NOT Run By Private Shareholders

Former Banker: The Fed is NOT Run By Private Shareholders

Former Treasury Staffer: US Debt-to-GDP Doesn't Matter (But Greece's Does)

Former Treasury Staffer: US Debt-to-GDP Doesn't Matter (But Greece's Does)

Former Treasury Staffer: US National Debt Never Needs To Be Paid Down

Former Treasury Staffer: US National Debt Never Needs To Be Paid Down

Economic Myths and the Fallacy of Composition

Economic Myths and the Fallacy of Composition

Dollars Do Not Leave The US Financial System

Dollars Do Not Leave The US Financial System

Merely "Printing Money" Is Not What Causes Hyperinflation

Merely "Printing Money" Is Not What Causes Hyperinflation

A Social Service Job Guarantee Proporsal

A Social Service Job Guarantee Proporsal

Would A Job Guarantee Work For Developing Nations?

Would A Job Guarantee Work For Developing Nations?

Why Did The US Oppose Keynes's Bancor Plan?

Why Did The US Oppose Keynes's Bancor Plan?

Why Do Developing Nations Often Have High Inflation?

Why Do Developing Nations Often Have High Inflation?

Rohan Grey: History of the Federal Reserve

Rohan Grey: History of the Federal Reserve

MMT: A Balanced Budget Amendment Would Be Disastrous

MMT: A Balanced Budget Amendment Would Be Disastrous

Every Financial Asset Is Somebody's Liability, Including "Money"

Every Financial Asset Is Somebody's Liability, Including "Money"

Even Donald Trump Could Tell You: Social Security Cannot Go Broke

Even Donald Trump Could Tell You: Social Security Cannot Go Broke

Won't A Credit Downgrade Raise The Government's Interest Rate?

Won't A Credit Downgrade Raise The Government's Interest Rate?

Currency Is An IOU of the Government

Currency Is An IOU of the Government

Your Bank Account Is An IOU Of Your Bank

Your Bank Account Is An IOU Of Your Bank

We Have An Elastic Money System. There Is No Fixed Quantity Of Money

We Have An Elastic Money System. There Is No Fixed Quantity Of Money

A Capital Markets Argument For Endogenous Money

A Capital Markets Argument For Endogenous Money

How Bretton-Woods Fell Apart

How Bretton-Woods Fell Apart

The IMF and SDRs Under Bretton-Woods

The IMF and SDRs Under Bretton-Woods

The Keynes Bancor Plan

The Keynes Bancor Plan

What Is Par Clearing?

What Is Par Clearing?

Where Would The Money For A Job Guarantee Come From?

Where Would The Money For A Job Guarantee Come From?

A Job Guarantee Would Cost Surprisingly Little Money

A Job Guarantee Would Cost Surprisingly Little Money

A Job Guarantee Hires "Off The Bottom"

A Job Guarantee Hires "Off The Bottom"

A Job Guarantee Would Be A Permanent Program

A Job Guarantee Would Be A Permanent Program

The State Almost Always Creates The Unit Of Account

The State Almost Always Creates The Unit Of Account

MMT Predicted That Euroland Will Fail

MMT Predicted That Euroland Will Fail

Euro Nations Are Not Monetarily Sovereign

Euro Nations Are Not Monetarily Sovereign

MMT Is How It Already Works

MMT Is How It Already Works

MMT: Inflation Is The Constraint To Government Deficits

MMT: Inflation Is The Constraint To Government Deficits

But Isn't Overspending Reckless And Dangerous?????

But Isn't Overspending Reckless And Dangerous?????

The Private-Sector Can't Create Enough Demand On Its Own

The Private-Sector Can't Create Enough Demand On Its Own

Why Only Considering Individuals Does Not Work

Why Only Considering Individuals Does Not Work

"Printing Money" Doesn't Necessarily Raise Prices

"Printing Money" Doesn't Necessarily Raise Prices

How Did Bill Clinton Almost Force Socialism On America??

How Did Bill Clinton Almost Force Socialism On America??

Why There Will ALWAYS Be Demand For US Treasury Bonds

Why There Will ALWAYS Be Demand For US Treasury Bonds

Investment Creates Saving, NOT The Other Way Around

Investment Creates Saving, NOT The Other Way Around

How To Start A Currency From Scratch (Short Version)

How To Start A Currency From Scratch (Short Version)

How To Create A Currency From Scratch (Long Version)

How To Create A Currency From Scratch (Long Version)

Pavlina Tcherneva: Economic Theory, Policy Should Differentiate Demographically

Pavlina Tcherneva: Economic Theory, Policy Should Differentiate Demographically

Think You Got Poorer Since 2008? You Probably Did

Think You Got Poorer Since 2008? You Probably Did

We Need To Directly Target Employment, Not Just Growth

We Need To Directly Target Employment, Not Just Growth

What Happens If A Central Bank Pays Interest On Reserves

What Happens If A Central Bank Pays Interest On Reserves

Why Do Some Countries Borrow In Dollars?

Why Do Some Countries Borrow In Dollars?

MMT: Sovereign Currency Governments Should Stop Selling Bonds

MMT: Sovereign Currency Governments Should Stop Selling Bonds

What If Nobody Bought US Treasury Bonds?

What If Nobody Bought US Treasury Bonds?

You Can't Have A Debt Crisis If You Issue The Currency

You Can't Have A Debt Crisis If You Issue The Currency

The Economy Is Like A Bathtub

The Economy Is Like A Bathtub

A Job Guarantee Would Set The Price Of The Dollar

A Job Guarantee Would Set The Price Of The Dollar

Markets Are Inherently Unstable, And Another Crash Is Coming

Markets Are Inherently Unstable, And Another Crash Is Coming

Inflation Is Just Not That Easy To Cause (Even With A Job Guarantee)

Inflation Is Just Not That Easy To Cause (Even With A Job Guarantee)

"Supply-Side Economics" Is Intellectual Garbage

"Supply-Side Economics" Is Intellectual Garbage

Keynes's Blindingly Simple Insight

Keynes's Blindingly Simple Insight

Why Modern Money Theory Matters

Why Modern Money Theory Matters

Reframing the Affordability Debate

Reframing the Affordability Debate

Taxes Do Not Fund Social Security, Investment Does (very slow, with Spanish translation)

Taxes Do Not Fund Social Security, Investment Does (very slow, with Spanish translation)

Government Must Run Deficits (very slow, with Spanish interpreter)

Government Must Run Deficits (very slow, with Spanish interpreter)

Mainstream Economics Serves The One Percent

Mainstream Economics Serves The One Percent

MMT: The Debates We Should Be Having

MMT: The Debates We Should Be Having

Stephanie Kelton: Some History of Modern Money Theory

Stephanie Kelton: Some History of Modern Money Theory

Reserve Clearing and Triangular Exchange

Reserve Clearing and Triangular Exchange

What Is Say's Law and Why Is It False

What Is Say's Law and Why Is It False

Irving Fisher - Debt Deflation

Irving Fisher - Debt Deflation

The Money Multiplier Model Is Inconsistent With Accounting, And Therefore Wrong

The Money Multiplier Model Is Inconsistent With Accounting, And Therefore Wrong

What If OPEC Stopped Pricing Oil In Dollars?

What If OPEC Stopped Pricing Oil In Dollars?

Real Terms Of Trade: Imports are a Benefit, Exports are a Cost

Real Terms Of Trade: Imports are a Benefit, Exports are a Cost

Government Spending Can Determine The Price Level

Government Spending Can Determine The Price Level

Why Banks Can't Be Allowed To Become Insolvent

Why Banks Can't Be Allowed To Become Insolvent

The Barter System Is A Myth: The State Is Always Involved In Money

The Barter System Is A Myth: The State Is Always Involved In Money

Government Can Buy Things The Private Sector Doesn't Want

Government Can Buy Things The Private Sector Doesn't Want

Unemployment Is Created By Government And Can Only Be Solved By Government

Unemployment Is Created By Government And Can Only Be Solved By Government

'Too Big To Fail' Banks Are Forcing Small Banks Out Of Business

'Too Big To Fail' Banks Are Forcing Small Banks Out Of Business

MMT: The Impact Of Interest Rate Targets On The Economy Is Indeterminate

MMT: The Impact Of Interest Rate Targets On The Economy Is Indeterminate

Baumol's Disease: Why Artists Starve And Government Grows

Baumol's Disease: Why Artists Starve And Government Grows

Why We Need A Central Bank And Deposit Insurance, But Might Not Need Private Banks

Why We Need A Central Bank And Deposit Insurance, But Might Not Need Private Banks

Fraud Was Rampant In The Housing Bubble

Fraud Was Rampant In The Housing Bubble

Did The Bankers Learn Anything From 2008? Crime Pays.

Did The Bankers Learn Anything From 2008? Crime Pays.

Just How Big Was The Bank Bailout? (Hint: Huge)

Just How Big Was The Bank Bailout? (Hint: Huge)

What The F*&k Is A Credit Default Swap???

What The F*&k Is A Credit Default Swap???

Financialization Of The Economy

Financialization Of The Economy

How Do Asset Price Bubbles Happen

How Do Asset Price Bubbles Happen

Money Manager Capitalism And The Global Financial Crisis

Money Manager Capitalism And The Global Financial Crisis

MMT: Taxes Are Sufficient But Not Necessary To Drive A Currency

MMT: Taxes Are Sufficient But Not Necessary To Drive A Currency

What Determines The Value Of A Currency

What Determines The Value Of A Currency

Government Deficits Create Assets, Central Banks Just Liquify Them

Government Deficits Create Assets, Central Banks Just Liquify Them

Sovereign Government Debt Is Not A Burden On The Future

Sovereign Government Debt Is Not A Burden On The Future

Financial Fragility: Markets Are Now Ruled By Speculation

Financial Fragility: Markets Are Now Ruled By Speculation

How Banks Can Fail Even Though They Print Money

How Banks Can Fail Even Though They Print Money

Keynes Was Not A Socialist, He Was Trying To Save Capitalism From Itself

Keynes Was Not A Socialist, He Was Trying To Save Capitalism From Itself

How Banks Can Bet Against Their Own Customers

How Banks Can Bet Against Their Own Customers

Minsky: Banks Create Money Endogenously, Making The Business Cycle Worse

Minsky: Banks Create Money Endogenously, Making The Business Cycle Worse

Government Deficits Are Largely Endogenous

Government Deficits Are Largely Endogenous

On Math In Economics

On Math In Economics

A Heterodox Approach To Human Nature

A Heterodox Approach To Human Nature

The Neoclassical Approach To Human Nature

The Neoclassical Approach To Human Nature

L. Randall Wray: Another Crash Is Coming

L. Randall Wray: Another Crash Is Coming

What's Wrong With Economics Education Today?

What's Wrong With Economics Education Today?

MMT Policies Apply To Any Size Government

MMT Policies Apply To Any Size Government

MMT: What Modern Money Theory is NOT Saying

MMT: What Modern Money Theory is NOT Saying

What About The Dollar As Reserve Currency?

What About The Dollar As Reserve Currency?

L Randall Wray On Taxes: Eliminate The Corporate And Payroll Tax

L Randall Wray On Taxes: Eliminate The Corporate And Payroll Tax

Why Don't Economists And Politicians Get MMT?

Why Don't Economists And Politicians Get MMT?

Hyman Minsky - "Stability Is Destabilizing", Employer Of Last Resort

Hyman Minsky - "Stability Is Destabilizing", Employer Of Last Resort

Beardsley Ruml - Taxes For Revenue Are Obselete

Beardsley Ruml - Taxes For Revenue Are Obselete

Abba Lerner - Functional Finance

Abba Lerner - Functional Finance

A Brief History Of Modern Money Theory

A Brief History Of Modern Money Theory

MMT: A Gold Standard Or Fixed Exchange Rate Reduces Domestic Policy Space

MMT: A Gold Standard Or Fixed Exchange Rate Reduces Domestic Policy Space

MMT: Sectoral Balances - Why The Government Must Run Deficits

MMT: Sectoral Balances - Why The Government Must Run Deficits

MMT: Taxes/Borrowing DO NOT "Pay For" Government Spending

MMT: Taxes/Borrowing DO NOT "Pay For" Government Spending

MMT: The Fed And The Treasury Can't Be Independent

MMT: The Fed And The Treasury Can't Be Independent

Even Conservatives Should Support A Job Guarantee

Even Conservatives Should Support A Job Guarantee

Argentina's Job Guarantee-Like Program

Argentina's Job Guarantee-Like Program

MMT: A Job Guarantee Would Set An Effective Minimum Wage

MMT: A Job Guarantee Would Set An Effective Minimum Wage

MMT: A Job Guarantee Promotes Full Employment AND Price Stability

MMT: A Job Guarantee Promotes Full Employment AND Price Stability

MMT: A Job Guarantee Would Bring Unemployment to Zero

MMT: A Job Guarantee Would Bring Unemployment to Zero

The Conventional Approach Uses Unemployment To Fight Inflation

The Conventional Approach Uses Unemployment To Fight Inflation

The Huge Costs Of Unemployment

The Huge Costs Of Unemployment

The Financial Instability Hypothesis

The Financial Instability Hypothesis

Aren't We Financial Slaves To China?!?!

Aren't We Financial Slaves To China?!?!

The Government Deficit = Private Sector Saving

The Government Deficit = Private Sector Saving

Forced Government Default Can Only Happen On Foreign-Currency Debt Or Fixed Exchange Rates

Forced Government Default Can Only Happen On Foreign-Currency Debt Or Fixed Exchange Rates

MMT: The National Debt Is Actually A Government Savings Account

MMT: The National Debt Is Actually A Government Savings Account

Modern Money Theory Is Neither Modern Nor Theoretical

Modern Money Theory Is Neither Modern Nor Theoretical

MMT: The Issuer Of The Currency Can Always Purchase Anything That's For Sale

MMT: The Issuer Of The Currency Can Always Purchase Anything That's For Sale

What Caused Hyperinflation In Zimbabwe?

What Caused Hyperinflation In Zimbabwe?

MMT Is Not New

MMT Is Not New

Are Zero Interest Rates Inflationary Or Deflationary?

Are Zero Interest Rates Inflationary Or Deflationary?

How To Fight Inflation

How To Fight Inflation

Unemployment Is A Much Bigger Problem Than Inflation

Unemployment Is A Much Bigger Problem Than Inflation

MMT: What About Creative Destruction?

MMT: What About Creative Destruction?

MMT: Won't We End Up Like Greece?!

MMT: Won't We End Up Like Greece?!

The Purpose Of Money Is To Provision Government (or, "How To Turn Litter Into Money")

The Purpose Of Money Is To Provision Government (or, "How To Turn Litter Into Money")

Austerity Is Absurdity

Austerity Is Absurdity

Government Surpluses Can Cause Economic Disaster

Government Surpluses Can Cause Economic Disaster

MMT: The Fed Neither "Has" Nor "Doesn't Have" Dollars

MMT: The Fed Neither "Has" Nor "Doesn't Have" Dollars

MMT: What Is A Job Guarantee (or "Labor Standard")?

MMT: What Is A Job Guarantee (or "Labor Standard")?

What Is A Deficit Owl?

What Is A Deficit Owl?

Capitalism Runs On Sales (Government Spending, and The Paradox of Thrift)

Capitalism Runs On Sales (Government Spending, and The Paradox of Thrift)

Loans Create Deposits: Inside vs Outside Money

Loans Create Deposits: Inside vs Outside Money

MMT: Why Do Governments That Issue Their Own Currency Bother To Sell Bonds?

MMT: Why Do Governments That Issue Their Own Currency Bother To Sell Bonds?

MMT: What Is Money And What Gives It Value?

MMT: What Is Money And What Gives It Value?

MMT: Government Budgets Are NOT Like A Household

MMT: Government Budgets Are NOT Like A Household

MMT: Difference Between Currency Issuer and a Currency User

MMT: Difference Between Currency Issuer and a Currency User

MMT: Warren Mosler on why Quantitative Easing is NOT money printing

MMT: Warren Mosler on why Quantitative Easing is NOT money printing