The Modern Money Primer: Spanish Language Edition

The Modern Money Primer: Spanish Language Edition For our Spanish speaking followers, my Modern Money Primer has just been released in Spanish and is available: Here’s the description of the book: El esfuerzo intelectual que se realizó en el campo de la física tras la aparición de la teoría de la relatividad o del […]

Fiscal Policy: Cycle and Space Matter

I am among those economists who have argued that expansive fiscal policy has been missing as a lever to support recovery in advanced economies, especially in the Eurozone – see here and here. At the same time, I have cast doubts on recent attempts of using it to prop up growth in some emerging markets – see here and here in the […]

In Appreciation of Lord Robert Skidelsky–Presentation for Economists for Peace and Security; Updated with Videos

UPDATE: Videos of the dinner are available here: My presentation is in the middle of this one: I just returned from the annual ASSA meetings in Boston. This is largely a front for the American Economics Association to produce an appearance of pluralism. The ASSA is actually run by the AEA, which allocates […]


The reports of my death have been greatly exaggerated. –Mark Twain Stephanie Kelton Goes To Washington Leading Post Keynesian Modern Monetary Theorist (MMT) and Chair of the Economics Department at the University of Missouri-Kansas City (UMKC) is leaving there to become the Chief Economist of the Minority at the US Senate Budget Committee.  She is […]

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 […]

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 […]

Does The Secular Stagnation Theory Have Any Sort of Validity?

In a number of blog-posts (Paul Krugman’s Bicycling Problem, On Bubble Business Bound, The Expectations Fairy) I have examined some of the implications of the theory of secular stagnation. But I haven’t up to now argued why I think the hypothesis that Japan and some parts of Europe are suffering from some kind of secular […]


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 […]