Secular Stagnation and Sacred Neoliberal Dogma

by Dan Kervick, New Economic Perspectives Brad DeLong doesn’t like what Clive Crook is saying about Larry Summers. According to DeLong: When Larry Summers said: Even a great bubble [first in high-tech and then in housing] wasn’t enough to produce any excess of aggregate demand…. Even with artificial stimulus to demand, coming from all this …

Paying for Lunch – MMT Style

Dan Kervick, New Economic Perspectives A common criticism of Modern Monetary Theory is that it is a naïve doctrine of free lunches. The critics grant that a country like the United States, which issues its own freely floating fiat currency, can always make the policy choice to issue whatever quantity of that currency it deems …