US Consumers Keep Spending Despite Reduced Pay

by Warren Mosler This article was originally published by Mosler Economics (Apr. 29, 2013) This is the current thinking, but the pieces don’t add up? Hoping I’m being too negative here… Comments below:

A Background to the Origination Of Soft Currency Economics aka Modern Monetary Theory

by Warren Mosler Cross posted from Soft Currency Economics.  Editorial changes 14 March 2013 12:01am New York Time. As you will read in Soft Currency Economics, in November of last year, I was invited to speak at a Government Debt conference in Rome along with Mario Draghi. My speech received a lot of publicity in Italy and …

The Natural Rate of Interest Is Zero

by Mathew Forstater and Warren Mosler, MoslerEconomics.com This paper argues that the natural, nominal, risk free rate of interest is zero under relevant contemporary institutional arrangements. However, as Spencer Pack reminded us, “[n]atural and nature are complex words, fraught with ambiguity and contradiction” (1995, 31). The sense in which we wish to employ the term …

Exchange Rate Policy and Full Employment

by Warren Mosler, Mosler Economics Editor’s note: This is the manuscript for a presentation made on either 03 December 1997 or 03 December 1999 (see discussion in comments) at a conference hosted by Prof. William Mitchell, University of Newcastle, New South Wales, Australia at that university. Introduction The Post Keynesian group repeatedly distinguishes itself from …