I highly recommend a movie to be released next year (that is, the year that begins next week). Terry Jones, of Monty Python fame, is one of the key developers of the film. It is on the Global Financial Crisis, but also provides a quick history of bubbles and crashes. It is highly entertaining and […]

What’s Wrong with Heterodox Economics Journals?

I just came across a very interesting bit of research, A Guide to Paradigmatic Self-Marginalization: Lessons for Post-Keynesian Economists by Leonhard Dobusch and Jakob Kapeller; you can find it here: I realize this is not going to be of interest to many of our readers, as it is a sort of “inside the halls […]

About Those Trolls…. Yes, It’s Troll Friday

It’s Troll Friday, hence, let’s look at Trolls. Well, the science is in, and yes Trolls really are horrible people. Who wudda thunk? This post at Slate pretty much tells us what I’ve concluded after some years of dealing with trolls: Here’s a summary of the research: “The research, conducted by Erin Buckels of […]


Here’s a summary of the plan Bernie Sanders has set out (, along with my comments (in italics). 1. We need a major investment to rebuild our crumbling infrastructure. $1 trillion investment to create 13 million decent paying jobs and make this country more efficient and productive. Agreed, but let’s not settle for a mere […]

Breaking into the Mainstream: Can Heterodoxy Do It?

Here’s a short but thoughtful piece on heterodox economics by a researcher at the Federal Reserve Bank of Richmond. By Aaron Steelman In 2003, administrators at the University of Notre Dame decided to split the Department of Economics into two: the Department of Economics and Policy Studies (DEPS) and the Department of Economics and Econometrics […]

The Answer to the Unemployment Problem Is More Jobs

Dean Baker, everyone’s favorite progressive economist (mine, too), has an interesting take on our unemployment problem. Give more paid vacations. (See here: The idea is that if all the employed work less, employers will need to hire the unemployed to produce what the already employed won’t be producing while sunning themselves on Florida’s beaches. […]

Founder of PayPal Says Taxes Drive Money

OK, file this in the “I never thought I’d live to see the day” category. Yes, Virginia, Taxes Drive Money. Peter Thiel, founder of PayPal understands his business model. He’s leveraging currency. His PayPal money is denominated in Uncle Sam’s money (and 24 other national currencies). Ultimately, USA demand for PayPal money is driven by […]

Obsolete Dogmas about Government Budgets are Killing Us

Sorry for the near-hiatus over the past weeks–I’ve been doing a lot of traveling. Here’s a good post on the current sorry state of economic policy in the US and Europe: The author, Darrell Delamaide, gives a shout-out to MMT: MMT, which bases models on the reality that the U.S. dollar is a fiat […]


A Modest Proposal You guessed it. It’s Troll Friday.* Environmentalists have been warning us for a long time that we have to reduce our eco-footprint. Some years ago I took that literally and proposed that we aim for smaller humans. Someone accused me of recommending that she starve her children to stunt their growth. I […]

Understanding Modern Money, Guest Post

Chris Mayer attended our Post Keynesian conference at UMKC last week. He published the following in Capital&Crisis, Agora Financial’s newsletter. This is republished with his permission. Chris has a knack for putting things simply and clearly. Enjoy. Understanding Modern Money By Chris Mayer “We can’t run out of money,” economist L. Randall Wray said. The […]