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Money & Public Purpose: Government is Not a Household

his second entry in the Money & Public Purpose series features Stephanie Kelton and Randy Wray debunking widely held misperceptions on the relationship of governments to the economy (for instance, that running surpluses is a good id...
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Randy Wray: Taxes and the Public Purpose

Business & Finance / Economics : Naked Capitalism

Governments use taxes to move resources to the public sector, where they can be used to promote social goals.

Stephanie Kelton: Reading Between the Lines – A Memo from Fed Chairman Marriner Eccles

Business & Finance / Economics : Naked Capitalism

Stephanie Kelton does an important service in discussing a memo from the Fed chairman during the Roosevelt Administration, Marriner Eccles. I was reminded of Eccles' a fine appreciation for how the real economy worked and how govern...

Why the Government Must Keep Running Deficits. Forever.

Business & Finance : Angry Bear

Imagine an economy that consists of two households, one firm, one bank, and one government. The government issues $50 to each household (maybe they do some work for it), crediting their bank accounts and running a $100 deficit. Voil...

Stephanie Kelton: What Happens When the Government Tightens its Belt?

Business & Finance / Economics : Naked Capitalism

Yves here. This post is certain to annoy some readers. Note that Kelton does not address under what circumstances it is desirable to have the government run a surplus versus a deficit, merely what the implications are. Bill MItchell...

Forthcoming Event for September 16, 2014: The Economy: Does More Government Help or Hurt? | Kansas City Public Library: Live from the Roasterie

Business & Finance / Economics : Grasping Reality with Both Hands

Should be good: >Stephanie Kelton, Joseph Haslag, Mike Shanin: The Economy: Does More Government Help or Hurt? | Kansas City Public Library: >How much does the government really know about people’s wants and needs? And is there a cl...

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