All Posts By Date

Welcome to heteconomist: MMT and the Crisis
Posted: October 2010. Category: Welcome.

Nobel-nomics
Posted: October 2010. Category: Economics.

Fiat Money and its Social Significance
Posted: October 2010. Category: Economics.

Government Deficits and Net Private Saving
Posted: October 2010. Category: Economics.

Misplaced Faith in Quantitative Easing
Posted: October 2010. Category: Economics.

Hyperinflation
Posted: October 2010. Category: Economics.

Critique of Riedl on Government Spending
Posted: October 2010. Category: Economics.

Thinking in a Macro Way
Posted: October 2010. Category: Economics.

Taxation, Money, Freedom and Economy
Posted: October 2010. Category: Future Society.

Fiscal Policy and the Rate of Profit
Posted: October 2010. Category: Economics.

Krugman and Galbraith on Deficits
Posted: October 2010. Category: Economics.

Parable of a Monetary Economy
Posted: October 2010. Category: Economics.

Demand for the Currency & Value of the Currency
Posted: December 2010. Category: Economics.

Classicals vs Neoclassicals: Tax and Rent
Posted: January 2011. Category: Economics.

Full Employment and the Environment
Posted: January 2011. Category: Future Society.

Interest, Money and Crisis
Posted: February 2011. Category: Economics.

What is ‘productive’?
Posted: February 2011. Category: Future Society.

The Government is not a Household
Posted: February 2011. Category: Economics.

Misinterpreting the Sectoral Balances
Posted: February 2011. Category: Economics.

Schools of Thought – Classicals
Posted: February 2011. Category: Economics.

Short Note on the Policy Target
Posted: February 2011. Category: Economics.

The Central Bank and the Yield Curve
Posted: February 2011. Category: Economics.

Identities Do Not Imply Equilibrium
Posted: March 2011. Category: Economics.

Investment Precedes Saving
Posted: March 2011. Category: Economics.

The Debate over Investment and Saving
Posted: March 2011. Category: Economics.

Krugman Mentions MMT Again …
Posted: April 2011. Category: Economics.

Krugman’s Latest Comment on MMT
Posted: August 2011. Category: Economics.

Sectoral Balances and Keynesian Causation
Posted: August 2011. Category: Economics.

Debt and Taxes
Posted: October 2011. Category: Economics.

Vernengo on Keynes vs Neoclassical Synthesis
Posted: October 2011. Category: Economics.

More on Keynes vs the Neoclassical Synthesis
Posted: October 2011. Category: Economics.

Implications of a Purely Mechanized Economy
Posted: October 2011. Category: Future Society.

Taking Demand Seriously
Posted: October 2011. Category: Economics.

Vertical/Horizontal vs Exogenous/Endogenous
Posted: November 2011. Category: Economics.

Kalecki in Relation to MMT
Posted: November 2011. Category: Economics.

Kalecki’s “Political Aspects of Full Employment”
Posted: November 2011. Category: Economics.

The General and the Specific in MMT
Posted: November 2011. Category: Economics.

MMT is Politically Open
Posted: December 2011. Category: Economics.

Fiat Money is Logically Prior to Capital
Posted: December 2011. Category: Future Society.

Money and Paths to a Post-Capitalist Society
Posted: December 2011. Category: Future Society.

MMT is NOT a Theory of State Capitalism (!)
Posted: December 2011. Category: Future Society.

Fiat Money Socialism vs Lower Form Communism
Posted: December 2011. Category: Future Society.

The Transition to a Freer Society: BIG or JG?
Posted: December 2011. Category: Job & Income Guarantee.

Job Or Income Guarantee (JIG)
Posted: December 2011. Category: Job & Income Guarantee.

Kalecki, the Job Guarantee and Future Society
Posted: January 2012. Category: Job & Income Guarantee.

An End to Boondoggling (Humor)
Posted: January 2012. Category: Humor.

Financial Times on MMT – Part 1
Posted: February 2012. Category: Economics.

Financial Times on MMT – Part 2
Posted: February 2012. Category: Economics.

Chief Source of Our Economic Woes (Humor)
Posted: February 2012. Category: Humor.

Impossible Blueprint for Success (Humor)
Posted: February 2012. Category: Humor.

Public Spending Cuts in a Great Recession
Posted: March 2012. Category: Economics.

A Brief Overview of Some Aspects of Marx
Posted: March 2012. Category: Economics.

No More Austerity, Time for Music
Posted: April 2012. Category: Other Stuff.

Reform or Revolution, MMT or Marx
Posted: April 2012. Category: Economics.

Money as Taboo for Economists
Posted: April 2012. Category: Economics.

Let’s Go (Music)
Posted: May 2012. Category: Other Stuff.

Paul Krugman Synthesizes a Little More MMT
Posted: November 2012. Category: Economics.

Interest Rate as Policy Choice, Exchange Rate as Degree of Freedom
Posted: November 2012. Category: Economics.

From the Fiction Files – “Charles Bigsby Does the Chaps Proud”
Posted: December 2012. Category: Humor.

Heteconomist’s Holiday Message
Posted: December 2012. Category: Other Stuff.

The Divine Truth Message of Jesus and Mary
Posted: February 2013. Category: Other Stuff.

What We in the 1 Percent Don’t Want the 99 Percent to Know
Posted: January 2013. Category: Economics.

Feds Starving States to Concoct Funding Imperatives
Posted: March 2013. Category: Economics.

Melting Some Marx Into MMT
Posted: March 2013. Category: Economics.

Some Intuition on the Profit Equation, Courtesy of Kalecki
Posted: March 2013. Category: Economics.

Currency Value, Inflation, and Income Distribution
Posted: March 2013. Category: Economics.

Why Neoliberals Pretend Private Debt Doesn’t Matter and Public “Debt” Does
Posted: March 2013. Category: Economics.

Wages, Materials, and the Markup
Posted: March 2013. Category: Economics.

Why So Many Jobs Are Crappy (Economics Humor)
Posted: March 2013. Category: Humor.

An Introduction to Marx’s Theory of Value With Multiple Sectors
Posted: March 2013. Category: Economics.

What Everyone Should Know About Budget Deficits and Public Debt
Posted: September 2013. Category: Economics.

A Horrifying Conspiracy Theory For Your Reading Pleasure (Humor)
Posted: October 2013. Category: Humor.

A BIG Justification Under Capitalism
Posted: October 2013. Category: Job & Income Guarantee.

Public Banking and a Basic Income or Social Dividend
Posted: October 2013. Category: Job & Income Guarantee.

In Case You Thought the Economics Profession was Progressing
Posted: November 2013. Category: Economics.

Fiat Money as a Means of Shifting Resources to the Public Sector
Posted: November 2013. Category: Economics.

MMT in Simple Parables
Posted: November 2013. Category: Economics.

Unemployment is a Government Policy Choice
Posted: November 2013. Category: Economics.

Planned Investment/Saving and Keynesian Causation
Posted: November 2013. Category: Economics.

Transcripts of Warren Mosler’s Talk and Q&A Session in Sofia, Bulgaria
Posted: December 2013. Category: Economics.

Graphical Representation of the Income-Expenditure Model
Posted: December 2013. Category: Economics.

Currency Viability In a Pure Income Tax Regime With a Basic Income
Posted: December 2013. Category: Job & Income Guarantee.

Is Demand for Investment Goods a Derived Demand in Marx?
Posted: December 2013. Category: Economics.

Heteconomist Holiday Message 2013
Posted: December 2013. Category: Other Stuff.

Paul Samuelson on Old Time Religion
Posted: January 2014. Category: Economics.

Approaches to the Reduction of Aggregate Labor Time
Posted: January 2014. Category: Future Society.

Unearned Income and its Distribution
Posted: January 2014. Category: Future Society.

Introduction to the Sectoral Financial Balances Model
Posted: January 2014. Category: Economics.

Some Reasons for Guaranteeing Both an Income and Job
Posted: February 2014. Category: Job & Income Guarantee.

Increased Unemployment Benefits Can Be a Win Win
Posted: February 2014. Category: Economics.

Liberty, At Least For Now, Requires Government
Posted: August 2014. Category: Economics.

Significance of MMT for Progressives and the Left
Posted: August 2014. Category: Future Society.

Government Spending and Financially Sustainable Growth
Posted: August 2014. Category: Economics.

Value of Fiat Money on the Basis of Marx in the Light of MMT
Posted: September 2014. Category: Economics.

Significance of MMT’s Definition of ‘Value of the Currency’
Posted: September 2014. Category: Economics.

Icing on the Cake (Music)
Posted: September 2014. Category: Other Stuff.

MMT is a Good Bet for Progressives and the Left
Posted: September 2014. Category: Future Society.

Actual Real Life Tactics to Secure Concrete Social Demands (Humor)
Posted: September 2014. Category: Humor.

There Would Be No Capitalism Without the State
Posted: October 2014. Category: Economics.

The Diverse Economy: Part Capitalist, Part Socialist, Part Communist
Posted: October 2014. Category: Future Society.

Pain of Austerity Brings No Future Gain
Posted: November 2014. Category: Economics.

It Doesn’t Have To Be This Way
Posted: November 2014. Category: Economics.

Exercising Currency Sovereignty Under Self-Imposed Constraints
Posted: December 2014. Category: Economics.

Why Do We Accept Fiat Currency?
Posted: December 2014. Category: Economics.

Manly Romantic Advances, Eighties Style (Music)
Posted: December 2014. Category: Other Stuff.

Heteconomist Christmas Message 2014 (Humor)
Posted: December 2014. Category: Other Stuff.

Taxes, Demand and the Importance Or Otherwise of Incentive Effects
Posted: January 2015. Category: Economics.

The Macro-Institutional Delimitation of Economic Complexity
Posted: February 2015. Category: Future Society.

What is Modern Money?
Posted: February 2015. Category: Economics.

Balancing the Budget Over the Cycle
Posted: March 2015. Category: Economics.

Government Spending Logically Precedes Tax Revenue
Posted: March 2015. Category: Economics.

Introducing a New Currency
Posted: July 2015. Category: Economics.

Some Implications of the Expenditure Multiplier Process
Posted: July 2015. Category: Economics.

Taxes as an Inducement to Supply Real Output
Posted: July 2015. Category: Future Society.

Money Interpreted as an IOU
Posted: September 2015. Category: Economics.

On Raising the Level of Collective Consciousness (GUEST POST by jrbarch)
Posted: October 2015. Category: Other Stuff.

A Tom O’Brien Interview of Mathew Forstater on Marx & MMT
Posted: October 2015. Category: Economics.

MARX & MMT, PART 1 — Three Kinds of Macro Variables
Posted: November 2015. Category: Economics.

MARX & MMT, PART 2 — Connecting the Markup, Exploitation, Currency Value and MELT
Posted: November 2015. Category: Economics.

MARX & MMT, PART 3 — Marx’s Conception of Labor and His Aggregate Equalities
Posted: November 2015. Category: Economics.

MARX & MMT, PART 4 — The TSSI and Marx’s Aggregate Equalities
Posted: December 2015. Category: Economics.

From the Lost Book of Noah’s Wife – Economics in Ancient Eschatology
Posted: December 2015. Category: Humor.

On Raising the Level of Collective Consciousness [II] (GUEST POST by jrbarch)
Posted: December 2015. Category: Other Stuff.

MARX & MMT, PART 5 — Why a Single System & What Did Marx Say?
Posted: December 2015. Category: Economics.

MARX & MMT, PART 6 — The Temporal MELT
Posted: December 2015. Category: Economics.

Heteconomist Holiday Amusement 1
Posted: December 2015. Category: Other Stuff.

Heteconomist Holiday Amusement 2 – Idle Thoughts on Utility and Labor Time
Posted: December 2015. Category: Future Society.

Internet Marxists Who Are More Neoclassical than Austrian
Posted: January 2016. Category: Economics.

Internet Marxists Who Are More Austrian than Neoclassical
Posted: January 2016. Category: Economics.

Two Ways to Drive Currency Acceptance through Taxes
Posted: January 2016. Category: Future Society.

Musing on Labor as the Source of Value
Posted: January 2016. Category: Economics.

Why Ask Why – Labor as the Sole Source of Value
Posted: January 2016. Category: Economics.

777, the Number of the Beast & the Meaning of Life
Posted: February 2016. Category: Other Stuff.

From the Literary Files – Morris Minor’s ‘Fire’ and Ensuing Tragedy
Posted: February 2016. Category: Humor.

Grandiose Conceptions
Posted: February 2016. Category: Humor.

On Raising the Level of Collective Consciousness [III] – The Human Experience
Posted: February 2016. Category: Other Stuff.

MMT 101 – Modern Monetary Theory on “Fiscal Sustainability”
Posted: March 2016. Category: Economics.

Teen Angst
Posted: June 2016. Category: Other Stuff.

Who Will Accept It? Currency-Issuing Govts are Constrained by Resources, Not Money
Posted: June 2016. Category: Economics.

Neoliberalism – The Attempt to Subsume Society into “the Market”
Posted: July 2016. Category: Economics.

‘Overt Monetary Financing’ in Terms of Simplicity and Transparency
Posted: August 2016. Category: Economics.

‘Overt Monetary Financing’ Poses No Special Inflation Risk
Posted: August 2016. Category: Economics.

Government Spending Under Alternative Operational Arrangements in a Nutshell
Posted: September 2016. Category: Economics.

Investment Creates Saving
Posted: November 2016. Category: Economics.

Competition, for Marx, was Not Neoclassical Perfect Competition
Posted: November 2016. Category: Economics.

The Preferred Policy Instruments of Functional Finance
Posted: November 2016. Category: Economics.

Modern Monetary Theory is Relevant to More than Just Capitalism
Posted: November 2016. Category: Future Society.

Value Creation in the Context of Demand Determined Output and Employment
Posted: November 2016. Category: Economics.

Short & Simple 1 – Government as a Means of Cooperation
Posted: December 2016. Category: Short & Simple.

Short & Simple 2 – Establishing a National Currency
Posted: December 2016. Category: Short & Simple.

From the Academic Files – Student Essay: “Demand-Led Growth Theory & its Enemies”
Posted: December 2016. Category: Humor.

Short & Simple 3 – Safeguarding Monetary Institutions and Banking
Posted: December 2016. Category: Short & Simple.

Short & Simple 4 – Total Spending Equals Total Income
Posted: December 2016. Category: Short & Simple.

The Monetary Circuit & Compatibility of Marx, Kalecki and Keynesian Macro
Posted: December 2016. Category: Economics.

Not Investing in Infrastructure IS the Burden We Place on Future Generations
Posted: December 2016. Category: Future Society.

We’re Wealthier Now, We Can’t Afford That Anymore
Posted: December 2016. Category: Economics.

Heteconomist’s Not Especially Holy Christmas Message 2016
Posted: December 2016. Category: Other Stuff.

Commander Keen
Posted: December 2016. Category: Other Stuff.

Is Public-Sector Labor ‘Productive’ in a State Money System?
Posted: January 2017. Category: Economics.

Institutions, Monetary Operations and a Demand-Led Global Economy
Posted: January 2017. Category: Economics.

Short & Simple 5 – Uses of Household Income
Posted: January 2017. Category: Short & Simple.

Short & Simple 6 – Stocks and Flows
Posted: January 2017. Category: Short & Simple.

The Role of Government Spending in Fostering Global Growth
Posted: January 2017. Category: Economics.

Demand-Led Growth – Government Spending and the Investment Share
Posted: February 2017. Category: Economics.

The Confidence Fairy and Formation of Demand Expectations Under Uncertainty
Posted: March 2017. Category: Economics.

Government Money and Democracy
Posted: April 2017. Category: Economics.

Demand-Led Growth with Cycles – A Simple Model and Illustration
Posted: July 2017. Category: Economics.

Fiscal Policy, Sectoral Balances and Financial Sustainability
Posted: July 2017. Category: Economics.

Truth and Lies About Government Deficits
Posted: July 2017. Category: Economics.

The Strange Capitalist Embrace of Austerity Viewed in Terms of Marx’s Profit-Rate Law
Posted: July 2017. Category: Economics.

Short & Simple 7 – A Fundamental National Accounting Identity
Posted: July 2017. Category: Short & Simple.

Short & Simple 8 – Measuring GDP
Posted: July 2017. Category: Short & Simple.

Boy, It Seems Time for a Music Break
Posted: July 2017. Category: Other Stuff.

Short & Simple 9 – Spending Determines Income
Posted: July 2017. Category: Short & Simple.

Short & Simple 10 – Spending Independently of Income
Posted: July 2017. Category: Short & Simple.

Short & Simple 11 – Money as an IOU
Posted: July 2017. Category: Short & Simple.

Self-Imposed Constraints as an Obfuscating Factor
Posted: July 2017. Category: Economics.

Short & Simple 12 – Government Money
Posted: August 2017. Category: Short & Simple.

Short & Simple 13 – Private Credit Creation
Posted: August 2017. Category: Short & Simple.

Short & Simple 14 – Direct Impacts of Fiscal Policy on Net Financial Assets
Posted: August 2017. Category: Short & Simple.

Short & Simple 15 – The Sectoral Balances Identity
Posted: August 2017. Category: Short & Simple.

Short & Simple 16 – The Expenditure Multiplier and Income Determination
Posted: August 2017. Category: Short & Simple.

Short & Simple 17 – A Notion of Macroeconomic Equilibrium
Posted: August 2017. Category: Short & Simple.

Short & Simple 18 – Income Determination in a Closed Economy
Posted: August 2017. Category: Short & Simple.

The Social Economy and the Potential Inherent in Currency Sovereignty
Posted: August 2017. Category: Future Society.

Short & Simple 19 – Sectoral Balances in a Closed, Demand-Determined Economy
Posted: September 2017. Category: Short & Simple.

Short & Simple 20 – Graphing the Income-Expenditure Model
Posted: September 2017. Category: Short & Simple.

Unfulfilled Potential
Posted: September 2017. Category: Economics.

Polynomials to the Rescue in the Strange Case of Busted Bets Plus One
Posted: September 2017. Category: Other Stuff.

From the Fiction Files – “Troublous Times for the Sunshine Cult”
Posted: September 2017. Category: Humor.

State Monies are Fundamental to Modern Monetary Economies
Posted: September 2017. Category: Future Society.

The Income-Expenditure Model with a Job Guarantee
Posted: September 2017. Category: Job & Income Guarantee.

On Estimating the Monetary Expression of Labor Time in a Temporal Framework
Posted: October 2017. Category: Economics.

DUDE WTF UMM… – Currency Issuers and Users
Posted: October 2017. Category: Economics.

Some Macro Effects of a Job Guarantee
Posted: October 2017. Category: Job & Income Guarantee.

If it’s Doable, it’s Affordable
Posted: November 2017. Category: Economics.

If the Robots Outdo Us
Posted: November 2017. Category: Future Society.

A Notion of Demand-Led Growth
Posted: December 2017. Category: Economics.

A Simple Framework for Analyzing a Demand-Led Economy
Posted: January 2018. Category: Economics.

Disequilibrium Dynamics of Output and Demand
Posted: January 2018. Category: Economics.

From the Fiction Files – “Easy Money Anytime”
Posted: February 2018. Category: Humor.

Growth is Good?
Posted: February 2018. Category: Economics.

Dynamics of Output and Demand in a Growing Economy
Posted: March 2018. Category: Economics.

A Currency-Issuing Government Spends on its Own Terms
Posted: May 2018. Category: Economics.

A Simple Modern Money Tale – Buckwell Island Establishes a Currency
Posted: July 2018. Category: Economics.

Job Guarantee as Nominal Price Anchor
Posted: October 2018. Category: Job & Income Guarantee.

Condensed Income-Expenditure Model
Posted: November 2018. Category: Economics.

Quantity Dynamics with a Job Guarantee
Posted: November 2018. Category: Job & Income Guarantee.

Some Aspects of a Steady State with a Job Guarantee
Posted: November 2018. Category: Job & Income Guarantee.

Illustration of Dynamic Adjustment with a Job Guarantee
Posted: December 2018. Category: Job & Income Guarantee.

Productive and Unproductive Labor in a Macro Context
Posted: November 2018. Category: Economics.

Holiday Time 2018
Posted: December 2018. Category: Other Stuff.

Fairness and a ‘Job or Income Guarantee’
Posted: January 2019. Category: Job & Income Guarantee.

A Fundamental Difference Between MMT and NKE
Posted: January 2019. Category: Economics.

MMT is Politically Open and Applicable to Both Capitalism and Socialism
Posted: February 2019. Category: Economics.

MMT and Capitalism from a Marxist Standpoint
Posted: February 2019. Category: Future Society.

Developments in Value Theory
Posted: February 2019. Category: Economics.

Fiscal Policy and the Inflation Constraint
Posted: February 2019. Category: Economics.

Banks are Capital Constrained, Not Reserve Constrained
Posted: March 2019. Category: Economics.

Currency Value in Terms of Socially Necessary Labor
Posted: May 2019. Category: Economics.

Currency Acceptance, Currency Value, and Transcending Capitalism
Posted: May 2019. Category: Economics.

Labor Complexity in Relation to Aggregate Marxian Value
Posted: June 2019. Category: Economics.

Labor Power as the ‘Money Commodity’
Posted: July 2019. Category: Economics.

Macro Dynamics with a Job Guarantee – Part 1: Overview
Posted: August 2019. Category: Job & Income Guarantee.

Macro Dynamics with a Job Guarantee – Part 2: Keynesian Cross Diagram
Posted: August 2019. Category: Job & Income Guarantee.

Macro Dynamics with a Job Guarantee – Part 3: Adjustment Process
Posted: October 2019. Category: Job & Income Guarantee.

Macro Dynamics with a Job Guarantee – Part 4: Dynamic Stability
Posted: October 2019. Category: Job & Income Guarantee.

Macro Dynamics with a Job Guarantee – Part 5: Price Level
Posted: November 2019. Category: Job & Income Guarantee.

Macro Dynamics with a Job Guarantee – Part 6: Price Stabilization
Posted: December 2019. Category: Job & Income Guarantee.

Politically Motivated Attempts to Own or Disown China as “Capitalist”
Posted: January 2020. Category: Economics.

Productivity, Labor Complexity, and Wage Determination Procedures
Posted: January 2020. Category: Economics.

Three Economic Ideas Threatening to Defenders of the Status Quo
Posted: February 2020. Category: Economics.

Politicians Who Want Us to Live Beyond Our Means
Posted: February 2020. Category: Economics.

Introductory Macroeconomics with a Job Guarantee
Posted: March 2020. Category: Economics.

State Money and Markets
Posted: April 2020. Category: Economics.

The Unlimited Financial Capacity of Currency-Issuing Governments
Posted: May 2020. Category: Economics.

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