Discussing MMT Through the Eyes of a Socialist
Bob Murphy and C. Jay Engel discuss Doug Henwood’s recent critique of modern monetary theory in Jacobin magazine.
Free Markets
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The Major Contributions of the Scholastics to Economics
The Scholastics were constrained in their development of economics by considerations of deference to authority and by the relatively slow development of the external economic conditions upon which to reflect.
A Free-Market Monetary System
"The power to issue money was essential for the finance of the government … in order to give to government access to the tap where it can draw the money it needs by manufacturing it."
Study Estimates the Green New Deal to Cost $93 Trillion — That’s a Conservative Estimate
The Green New Deal contains a wish list of progressive social and economic goals that come with a staggering price tag.
Murphy Dissects His Discussion of MMT With Warren Mosler
Bob and Warren Mosler discuss the assumptions behind Modern Monetary Theory and its implications for economic policy.
What Most Critics of “Markets” Get Wrong about Entrepreneurs
Thanks to entrepreneurs, markets are dynamic and constantly expanding. Attempts by governments to manage prices through the bureaucracy are sure to hinder this dynamism and drive to serve customers.
Central Banks Shouldn’t Fight Deflation
The real problem was the money supply inflation that happened during the boom phase. Combating deflation in the bust phase only superficially treats a symptom of the boom-bust cycle.
This Way Toward Equality
Equalization of incomes can be accomplished only by moving down the road toward serfdom.
This Way Toward Equality
Equalization of incomes can be accomplished only by moving down the road toward serfdom.
Liberty vs. War: A Brief History
States love wars because they enable the state, under the slogans of "defense" and "emergency," to impose a tyranny upon the public that might have been openly resisted in time of peace.
