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The Jobs-Currency Connection in Greece
Huffington Post, March 25, 2014. All Rights Reserved. Negotiations between the Greek government and its international lenders were finally resolved last week, after seven long months. In January, Prime Minister Antonis Samaras made a celebratory announcement projecting a small, 2013 primary budget surplus of 1.5 billion euros. Also recently announced: European Union co-funding for a […] -
How Money Matters
Credit Writedowns, March 21, 2014. All Rights Reserved. One thing’s for sure: The financial crisis has dealt a deadly blow to what was until recently considered the state-of-the-art of monetary policy. Just compare the 1992 edition of Modern Money Mechanics, published by the Federal Bank of Chicago, with the articles and videos published this month by the […] -
Lord Robert Skidelsky, University of Warwick, speaking at the Minsky Conference in Athens, Greece, November 2013.
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BlogMMT, the Consolidation Hypothesis, and Why Louisiana Won’t Leave Its Currency Union
In this interview with Euro Truffa, L. Randall Wray responds to some recent critiques of Modern Money Theory (MMT). In the first segment, Wray defends the idea that we can, for the purposes of simplifying the analysis of affordability constraints faced by modern governments, safely disregard many of the self-imposed constraints on Treasury-Central Bank cooperation [...] -
Summary No. 2Summary Spring 2014
The Spring 2014 Summary begins with a strategic analysis of the Greek economy using the Levy Institute Model for Greece. The authors analyze several policy scenarios and propose a parallel financial system to support expansionary fiscal policy and a job guarantee program, with Greece remaining in the euro. Related policy notes offer an innovative proposal […] -
MME, March 16, 2014
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Με «νιου ντιλ» η απορρόφηση της μαζικής ανεργίας
Ελευθεροτυπία, 16 Μαρτίου 2014. Με επιφύλαξη παντός δικαιώματος. ΤΟΝ ΠΕΡΑΣΜΕΝΟ Νοέμβριο δημοσκόπηση που παρήγγειλε το Global Economic Forum κατέδειξε πως τα 2/3 των κατοίκων της Β. Αμερικής, της Ευρώπης και της Ασίας πιστεύουν πως το υπάρχον οικονομικό σύστημα ευνοεί πρωτίστως τους πλουσίους. Αυτός ήταν ίσως ο λόγος που το πρόβλημα των οικονομικών ανισοτήτων έγινε κεντρικό […] -
MME, March 14, 2014
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Απασχόληση και αριστερή πολιτική
Ελευθεροτυπία, 14 Μαρτίου 2014. Με επιφύλαξη παντός δικαιώματος. Προχθές το ΙΝΕ/ΓΣΕΕ παρουσίασε την έκθεση που εκπόνησε το Levy Institute, με τη συνδρομή του ΙΝΕ, για την καταπολέμηση της μαζικής ανεργίας μέσα από ένα Πρόγραμμα Εγγυημένης Εργασίας, με σκοπό την άμεση δημιουργία 250.000 έως 700.000 θέσεων εργασίας. Η συλλογιστική που αναπτύσσεται στην έκθεση είναι ότι το […] -
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Inflation, Deflation, and ECB Asymmetry
It is quite interesting to see how popular myths can live on in the public’s mind and continue to cause harm and irritation even when the facts speak to totally different language. How can education fail so badly? The particular example I have in mind here is Germans’ supposed exceptionalism in matters of inflation hyper-sensitivity. [...] -
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Minsky Conference, D.C.: Stabilizing Financial Systems for Growth and Full Employment
The Levy Institute’s annual Minsky conference will be held at the National Press Club in Washington, D.C. on April 9-10. Day one features a speaker lineup that includes Sen. Sherrod Brown, Rep. Carolyn Maloney, head of the Chicago Fed Charles Evans, member of the Fed Board of Governors Daniel Tarullo, and many others. On day [...] -
MME, March 12, 2014