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In the 19th Century, “hypothecations” provided investors with valuable information on sovereign fiscal resources

Please join us for discussions at the end of each day.

Please join us for discussions at the end of each day.

How do we move fiscal policy from part of the problem to part of the solution?

Contrary to the New Keynesian paradigm, long-term unemployment can be reversed without a significant uptick in inflation

“For more on this methodology, see Wolff’s National Bureau of Economic Research paper Household Wealth Trends in the United States, 1962-2013” — Chuck Collins

The People’s Bank of China’s network of local currency swap arrangements provide Asian countries with a much-needed safety net, while also strengthening China’s diplomatic position

“From 2010 to 2019 the FDA approved 356 drugs. Recent research from Bentley University finds that NIH funding contributed to every single new drug approved. At a cost to the tax payer of roughly $230 billion dollars. In spite of this contribution the NIH is listed on only 27 of those patents. This suggests that while tax payers provide funding for the bulk of the early stage research they do not get patent protections supposedly secured by the by dole act. In essence American tax payers are paying the highest prices in the world for drugs they already paid to help develop.” — Senator Tammy Baldwin

The New Keynesian Dynamic Stochastic General Equilibrium (DSGE) is a straightjacket for macroeconomics

The Future of Macroeconomics Institute for New Economic Thinking, via Naked Capitalism 2-2-21]

Robert Johnson, the head of the progressive Institute for New Economic Thinking, calls the Biden task force a “real good group.” But he then asked: “What power will they really have … after the power of money bends the best designs in a self-interested direction?”

Chen Long, the director of China’s Luohan Academy, talks about the ways in which information technology can jump start economic development in the developing world.

Historian Paul Street talks about how the roots of the Trump presidency lie in the continuous rightward drift in US politics since the 1970’s, to which the Democrats contributed as much as the Republicans

Thomas Sugrue, Professor of History at NYU, talks to Rob Johnson about why the multiracial protests against police brutality make 2020 different from 1968.

Rob Johnson discusses whether the recession will become a depression