Macroeconomics

Learn to read, understand, and evaluate professional discourse about the current operation of money markets at the level of the Financial Times.

Central bankers pursue a “neutral” rate that doesn’t exist

Despite disparate policy beliefs, MMT and orthodox macro rely on many of the same theoretical foundations

James Galbraith says academic economics is in need of radical reform

Fred Block says capitalism is not an unchanging monolith—which means we can make it better

What 200 Years of Government Interventions in Financial Markets Can Tell Us

In the face of  laissez-faire capitalism at home and resurgent nationalism across the globe, INET offers an innovative look at the causes of—and solutions for—the problems that ail a fissuring world economy.

Banks have long had undue influence in society. But with the rapid expansion of a financial sector that transforms all debts and assets into tradable commodities, we are faced with something far worse: financial markets with an only abstract, inflated, and destabilizing relationship with the real economy. To prevent another crisis, finance must be domesticated and turned into a useful servant of society. 

Contrary to the neoclassical model’s assumptions, shifts in aggregate demand have persistent effects on GDP

One might think of the satisfied consensus reigning in macroeconomics before the financial crisis (and still relatively entrenched) as evidence of “Groupthink” in a “Divided State”

The consensus that reigned in macroeconomics before the financial crisis has come under renewed attack.

Macroeconomics and finance beyond DSG

Forget the myth of a savings glut causing near-zero interest rates. We have a shortage of aggregate demand, and only public spending and raising wages will change that.

Contrary to conventional wisdom, government stimulus can improve the health of the economy for years after, without inflationary side effects 

Untangling the Facts about Immigration in the World Economy.