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The US government can buy as much of its own debt as it chooses 27 Aug 2013 | 01:40 pm
The hoopla over the US government voluntarily imposed debt ceiling is about to begin again with the US Treasury Secretary predicting that the government will run out of money in mid-October. He must h...
Fiscal deficits in Europe help to support growth 26 Aug 2013 | 12:43 pm
I read this article yesterday (published August 12, 2013) – The euro area needs a German miracle – among a group of articles that are concluding that things are on the improve in Europe. I expect a wa...
Saturday Quiz – August 24, 2013 – answers and discussion 24 Aug 2013 | 11:00 pm
Here are the answers with discussion for yesterday’s quiz. The information provided should help you work out why you missed a question or three! If you haven’t already done the Quiz from yesterday the...
Saturday Quiz – August 24, 2013 23 Aug 2013 | 11:00 pm
Welcome to the Billy Blog Saturday Quiz. The quiz tests whether you have been paying attention over the last seven days. See how you go with the following questions. Your results are only known to you...
IS-LM Framework – Part 5 23 Aug 2013 | 12:29 pm
I am now using Friday’s blog space to provide draft versions of the Modern Monetary Theory textbook that I am writing with my colleague and friend Randy Wray. We expect to complete the text during 201...
A new breed of economics graduates is needed (did I say desperately) 22 Aug 2013 | 12:45 pm
There were two interesting articles I read (among others) in recent days that attack mainstream economic analysis in different ways. The first, published August 18, 2013 – Removing deadweight loss fro...
Wealth inequality rising slowly in Australia 21 Aug 2013 | 01:26 pm
The Australian Bureau of Statistics released the – Household Wealth and Wealth Distribution, Australia, 2011–12 – today, which is drawn from the bi-annual Survey of Income and Housing (SIH),first publ...
Fiscal space is a real, not a financial concept 20 Aug 2013 | 01:13 pm
Japanese economist Richard Koo recently (July 9, 2013) published his latest report on the world economy – Japan, US, and Europe face different issues – which updates some of the latest data available ...
Violence, suffering and denial 19 Aug 2013 | 01:44 pm
I wrote about the way the recent neo-liberal narrative in the UK, that constructs the unemployed as gaming the income support system and about how they need to be weeded out by harsher activity tests ...
Saturday Quiz – August 17, 2013 – answers and discussion 17 Aug 2013 | 11:00 pm
Here are the answers with discussion for yesterday’s quiz. The information provided should help you understand the reasoning behind the answers. If you haven’t already done the Quiz from yesterday the...
