Apr 91 minMy Second Working Paper, the MMT Banking Primer, is Available NowHow the legal structure of the financial system impacts chartalism. Download the PDF for free.
Feb 2216 minHow MMT Differs from Mainstream Macroeconomics: Steady-State Interest Rate DynamicsA deep dive into implicit empirical assumptions, and why most MMT-Mainstream debates are unproductive.
Feb 79 minCan Tinkering with Interest Rates Solve All Inflation?How strong are the screwdrivers, and are they threaded in the right direction?
Jan 195 minEquitable Demand Management to Reduce InflationCan we reduce consumption without making everyone poorer?
Dec 24, 20218 minHigh Rates Fostered an Unsustainable Economy Which Turkey Must Painfully RebuildYears of high rates in Turkey led to foreign-denominated private debt and speculative investment. Lowering rates will hurt but is necessary.
Dec 3, 202110 minThe Cool Stuff Hypothesis Versus the PetrodollarWhy does anyone want to save in another country's currency? The answer, though simple, may surprise you.
Oct 3, 20218 minInflation: Causes and Remedies - A Preview to the PMPE Inflation Resistance PlanWhat inflation is and where it comes from.
Aug 28, 202116 minA response to Doug Henwood’s appearance on the 3.31.2021 episode of the Current Affairs PodcastAn in-depth response to a bad-faith critique.
Aug 28, 20218 minWhy and How to Enact Consumer-Responsive Industrial PolicyThe free market will never fulfill everyone's material needs or even give everyone what they want.
Aug 25, 20216 minWhy the Quantity Theory of Money is WrongTheoretically and empirically, the price level is far more complicated than a simple equation might suggest.
Aug 19, 20213 minWhat really happened during the Volcker years?The inflation-adjusted fiscal deficit shrank, meaning monetary policy did not act by itself.