Welcome to heteconomist: MMT and the Crisis
Posted: October 2010. Category: Welcome.
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.
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
Posted: February 2012. Category: Economics.
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.
Reform or Revolution, MMT or Marx
Posted: April 2012. Category: Economics.
Money as Taboo for Economists
Posted: April 2012. Category: Economics.
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.
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
Posted: March 2013. Category: Economics.
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 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.
Paul Samuelson on Old Time Religion
Posted: January 2014. Category: Future Society.
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.
MMT is a Good Bet for Progressives and the Left
Posted: September 2014. Category: Future Society.
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.
Taxes, Demand and the Importance Or Otherwise of Incentive Effects
Posted: January 2015. Category: Economics.
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.
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 — 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.
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.
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.
MMT 101 – Modern Monetary Theory on “Fiscal Sustainability”
Posted: March 2016. Category: Economics.
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.
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.
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.
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.
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.
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.
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.
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.
Government Spending Comes First in a Sovereign Currency System
Posted: June 2020. Category: Economics.
The Core Significance of Taxation and Currency Sovereignty in a Nutshell
Posted: January 2021. Category: Economics.
Currency Value Interpreted as the Reciprocal of the MELT
Posted: February 2021. Category: Economics.
Cost-Push Inflation
Posted: March 2021. Category: Economics.
MARX & MMT – Currency Value and its Relationship to Price Stability
Posted: March 2021. Category: Economics.
Currency Value, Productivity, and a Currency’s Command over Use-Values
Posted: April 2021. Category: Economics.
Persistent Demand-Pull Inflation is Unlikely in Demand-Led Economies
Posted: June 2021. Category: Economics.
Markets are Creatures of Government
Posted: September 2021. Category: Economics.
A Brief Q&A on Three Aspects of MMT
Posted: September 2021. Category: Economics.
MMT Applies to Both Growth and Degrowth
Posted: September 2021. Category: Future Society.
A Currency’s Command over Real Output in a Nutshell
Posted: September 2021. Category: Economics.
Do Sectoral Rates of Surplus Value Tend to Equalize, and Why Ask?
Posted: September 2021. Category: Economics.
MMT and Embedded Marxian Value
Posted: September 2021. Category: Economics.
Marx, MMT, and a Currency’s Expression of Labor Time
Posted: October 2021. Category: Economics.
‘Money’ in Marx and MMT and Social Implications
Posted: October 2021. Category: Future Society.
Marx and MMT – Remarks on Long-Term Policy and Social Implications
Posted: October 2021. Category: Economics.
Comments on Recent Marxist Claims about MMT and Incidentally Kalecki
Posted: November 2021. Category: Economics.
Government Must Spend Before Non-Government Can Meet Its Net Financial Liabilities
Posted: November 2021. Category: Economics.
‘Unproductive’ Labor and Marxist Resistance to MMT
Posted: August 2022. Category: Economics.
