Iceland: We Need to Talk about Unemployment – and a Job Guarantee
December 1, 2020
“Iceland, being a small but monetarily sovereign economy, has the capacity to design and implement a successful job guarantee programme.
Federal Debt and Modern Money
May 1, 2020
“The fallacies of the neoclassical loanable funds view of interest rates and the related myths about fiscal sustainability and crowding out, would be seen to be nonsensical.”
The Fed’s Municipal Liquidity Facility: Community QE at Last
April 1, 2020
“Last week (April 9, 2020) the Fed announced it would be opening a new Municipal Liquidity Facility (‘MLF,’ ‘Facility’) for States and their Subdivisions now struggling to address the nation’s COVID-19 pandemic. This is effectively ‘Community QE’ in all but name.”
Accountable Incorporation
January 24, 2019
“In mid-August Senator Warren introduced an innovative – or rather, restorative – new piece of legislation, the Accountable Capitalism Act. Legislation along these lines is long overdue, and hence more than welcome…”
Implementing the Sustainable Development Goals in Timor-Leste
March 19, 2018
“This policy note is based on a detailed analytical policy report (with accompanying citations, references and appendices) available on the Global Institute for Sustainable Prosperity website as Policy Report No. 102 (February 2018)…”
A Just Social Wage and a Job Guarantee
January 19, 2018
“The real value of this minimum social wage should be set immediately at a level which restores to the low paid their fair share of national income distribution, accounting for increases in both the cost of living and the benefits of technological change and rising labour productivity over the past half-century. It should not be seen as a mechanism to keep wages down, as is the case with the threat of unemployment at the moment…”
Rethinking Economic Policy in the Age of Financialization: Why the Barro-Ricardo Theory Cannot Make Sense
September 1, 2017
“The 2008 crisis brought forth a rethinking of the role of economic policies. We would like to analyze a specific point of this debate: the effect of financialization on fiscal policy. In doing so, we find it useful to analyze the debate on the Barro-Ricardo equivalence (BRE)…”
Do Negative Interest Rates Live Up to the Hype?
February 1, 2017
“The public debate over negative interest rates has thus far centered around questions of technical feasibility. However, … there are economic, legal, and institutional hurdles that might hinder the adoption of negative interest rates as a conventional monetary policy tool.”
Ignore the Trade Balance: Concentrate on Full Employment
January 1, 2017
“A monetary sovereign government can achieve and maintain full employment without seeking to run a trade surplus, and a trade surplus is never a valid policy objective for such a government: a monetary sovereign government cannot be frustrated…”
The EU Referendum, or Can Britain Be its Best Self?
April 1, 2016
“The question for Britain should never have been construed as one of what is best for Britain. It should always have been a question of how Britain can be its best. The question cannot be reduced to one of whether Britain is stronger in Europe…”