Modern Money Illustrated

DIAGRAMS & DOLLARS Written by J.D. Alt, New Economic Perspectives Constructed from original Part 1 and Part 2. Click to enlarge 1. The “unsolvable” riddle of our National Budget Being an architect, I’m fascinated by diagrams visualizing things which otherwise are invisible. In designing a building we usually begin with diagrams to explore and understand …

Deflation Treatment: Stabilize Symptoms, then Address the Cause

Deflation: The Failed Macroeconomic Paradigm Plumbs New Depths of Self-Parody by William K. Black, New Economic Perspectives Patient bleeding out? Don’t treat the bleed; keep the crash cart nearby Imagine you were a doctor in the ER when a patient was brought in presenting symptoms indicating a likely internal bleed. Here are the two critical …

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 …