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The Fed's Dramatic About-Face

“Quantitative easing” was supposed to be an emergency measure, but the Federal Reserve is now taking a surprising new approach toward the policy.... [read more]

Quantitative Easing for People: The UK Labour Frontrunner's Controversial Proposal

British MP Jeremy Corbyn has proposed a “People’s QE” that has critics crying hyperinflation and supporters saying it’s about time... [read more]

This Radical Plan to Fund the ‘Green New Deal’ Just Might Work

With what author and activist Naomi Klein calls “galloping momentum,” the “Green New Deal” promoted by Rep.-elect Alexandria Ocasio-Cortez, D-N.Y., appears to be forging a political pathway for solving all of the ills of society and the planet in one fell swoop... [read more]

How to Wipe Out Puerto Rico's Debt Without Hurting Bondholders

During his visit to hurricane-stricken Puerto Rico, President Donald Trump shocked the bond market when he told Geraldo Rivera of Fox News that he was going to wipe out the island’s bond debt.... [read more]

The Italian Banking Crisis: No Free Lunch—or Is There?

It has been called “a bigger risk than Brexit”– the Italian banking crisis that could take down the eurozone... [read more]

Reinventing Banking: From Russia to Iceland to Ecuador

Global developments in finance and geopolitics are prompting a rethinking of the structure of banking and of the nature of money itself... [read more]

Grexit or Jubilee? How Greek Debt Can Be Annulled

The crushing Greek debt could be canceled the way it was made – by sleight of hand... [read more]

An Economic Policy For A Post Neo-Liberal World (Part 2 of 3)

Former Labour MP and member of the Shadow Cabinet, Bryan Gould, provides a road map for reviving Britain's ailing economy... [read more]

Political commentators

Political commentators have long been puzzled by the fact that, right across the globe and for several decades, the political left has been in retreat and – more than that – has apparently been unable to mount any significant challenge to the growing neo-liberal hegemony which has dominated western democracies since the 1980s... [read more]

How to Fund a Universal Basic Income Without Increasing Taxes or Inflation

A team of researchers at the University of Oxford published the results of a survey of the world’s best artificial intelligence experts, who predicted that there was a 50 percent chance of AI outperforming humans in all tasks within 45 years... [read more]

Sovereign Debt Jubilee, Japanese-Style

Japan has found a way to write off nearly half its national debt without creating inflation. We could do that too.... [read more]

Trump’s $1 Trillion Infrastructure Plan: Lincoln Had a Bolder Solution

Central banks have been pumping money into the global economy without a whole lot to show for it... [read more]

Time for the Nuclear Option: Raining Money on Main Street

Predictions are that we will soon be seeing the “nuclear option” — central bank-created money injected directly into the real economy... [read more]

Trumping the Federal Debt Without Playing the Default Card

The government can reduce the debt by buying it – and ripping it up... [read more]

A Slow-Burning Revolution‏

Former MP and member of the Labour shadow cabinet, Bryan Gould, details the beginnings of a paradigm shift in economic thinking... [read more]

The circulating money supply: Why QE3 won’t jumpstart the Economy—and What Would

The economy could use a good dose of “aggregate demand”—new spending money in the pockets of consumers — but QE3 won’t do it. Neither will it trigger the dreaded hyperinflation. In fact, it won’t do much at all. There are better alternatives, argues Ellen Brown.... [read more]

Universal Basic Income Is Easier Than It Looks

Calls for a Universal Basic Income (UBI) have been increasing, most recently as part of the “Green New Deal” introduced by Rep. Alexandria Ocasio-Cortez, D-N.Y., and supported in the last month by at least 40 members of Congress... [read more]

Trump Takes on the Fed

The president has criticized Federal Reserve policy for undermining his attempts to build the economy. The best way to make the central bank serve the needs of the economy is to make it a public utility.... [read more]

Dear Mr. President, Be Careful What You Wish for: Higher Interest Rates Will Kill the Recovery

Higher interest rates will triple the interest on the federal debt to $830 billion annually by 2026, will hurt workers and young voters, and could bankrupt over 20% of US corporations, according to the IMF.... [read more]

“We’ll Look at Everything:” More Thoughts on Trump’s $1 Trillion Infrastructure Plan

The Trump agenda, it seems, is not set in stone. The president-elect has a range of advisors with as many ideas... [read more]

The Populist Revolution: Bernie and Beyond

The world is undergoing a populist revival. From the revolt against austerity led by Syriza to Jeremy Corbyn’s surprise victory as Labour leader... [read more]

A major factor in Jeremy Corbyn’s appeal to voters

It is Labour’s long-standing support for, and failure to challenge, the central tenets of neo-classical orthodoxy that has disabled any challenge they have tried to make to any other aspect of the Tory progamme... [read more]

Rethinking Economics The Washington Consensus vs the Tokyo Consensus Background

On Tuesday 6 May 2014, I published a blog about ”Shimomuran Economics and the Rise of Japan”... [read more]

The Leveraged Buyout of America

In a letter to Federal Reserve Chairman Ben Bernanke, US Representative Alan Grayson and three co-signers expressed concern about the expansion of large banks into what have traditionally been non-financial commercial spheres... [read more]

Shimomuran Economics: The No-Debt Investment Credit Creation Path to More Rapid Economic Growth

George Tait Edwards MBE makes the case for the urgent implementation of Keynesian economics to stimulate growth, based on the economic model's previous success in the US, China and Japan... [read more]

Money for the People: Grillo's Populist Plan for Italy

Comedian Beppe Grillo was surprised himself when his Five Star Movement got 8.7 million votes in the Italian general election of February 24-25th... [read more]

The Venezuela Myth Keeping Us From Transforming Our Economy

Modern Monetary Theory (MMT) is getting significant media attention these days, after Rep. Alexandria Ocasio-Cortez said in an interview that it should “be a larger part of our conversation” when it comes to funding the “Green New Deal.... [read more]

Trumps War on the Fed

October was a brutal month for the stock market... [read more]

Central Banks Have Gone Rogue, Putting Us All At Risk

Central bankers are now aggressively playing the stock market. To say they are buying up the planet may be an exaggeration, but they could. They can create money at will, and they have declared their independence from government. They have become rogue players in a game of their own.... [read more]

Fox in the Hen House: Why Interest Rates Are Rising

The Fed is aggressively raising interest rates, although inflation is contained, private debt is already at 150% of GDP, and rising variable rates could push borrowers into insolvency. So what is driving the Fed’s push to “tighten”?... [read more]

Student Debt Slavery: Bankrolling Financiers on the Backs of the Young

Higher education has been financialized, transformed from a public service into a lucrative cash cow for private investors.... [read more]

Saving Illinois: Getting More Bang for the State’s Bucks

Illinois is teetering on bankruptcy and other states are not far behind, largely due to unfunded pension liabilities; but there are solutions.... [read more]

If China Can Fund infrastructure with Its Own Credit, So Can We

While American politicians debate endlessly over how to finance the needed fixes and which ones to implement, the Chinese have managed to fund massive infrastructure projects all across their country, including 12,000 miles of high-speed rail built just in the last decade... [read more]

Change of society: the only option for progressives to survive changes in society

So far, this year seems to have inverted the trend observed in 2016... [read more]

Banning Paralympic Athletes to Bash Russia

Last Sunday it was announced that the International Paralympic Committee (IPC) had decided to ban the entire Russian team from the upcoming Paralympics to held in Rio in September... [read more]

Can Jill Carry Bernie’s Baton?

Bernie Sanders supporters are flocking to Jill Stein, the presumptive Green Party presidential candidate... [read more]

“Print the Money”: Trump’s “Reckless” Proposal Echoes Franklin and Lincoln

The right of government to issue its own money was one of the principles for which the American Revolution was fought... [read more]

Hang On to Your Wallet: Negative Interest, the War on Cash and the $10 Trillion Bail-In

In uncertain times, “cash is king,” but central bankers are systematically moving to eliminate that option. Is it really about stimulating the economy? Or is there some deeper, darker threat afoot?... [read more]

How Obama Could Beat the Debt Ceiling and Go Out a Hero

The debt ceiling is an unconstitutional gimmick that violates the 14th amendment... [read more]

A Corbyn leadership

Bryan Gould, former Labour shadow cabinet minister, asks how left-wing is Jeremy Corbyn... [read more]

“Guerrilla Warfare” Against the EU-ECB-IMF Economic Hegemony: The Challenge and Promise of Greece. The Nationalization of the Banking System

Greece could restore the liquidity desperately needed by its banks and economy by nationalizing the banks and issuing digital loans backed by government guarantees... [read more]

Derailing Amtrak

Tracking the Latest Disaster in the Infrastructure Crisis... [read more]

Staying in Touch with the Real World

Former MP and member of the Labour shadow cabinet, Bryan Gould, explains how economic teaching lags behind reality... [read more]

The Trans-Pacific Partnership and the Death of the Republic

On April 22, 2015, the Senate Finance Committee approved a bill to fast-track the Trans-Pacific Partnership (TPP)... [read more]

How America Became an Oligarchy

According to a new study from Princeton University, American democracy no longer exists... [read more]

Economic Policies for an Incoming Labour Government (Part 8 of 9)

The Community Interest Bank Key to Local SME Development... [read more]

Economic Policies for an Incoming Labour Government (Part 6 of 9)

The No-Cost Keynesian Stimulation of Demand in the Economy ... [read more]

Economic Policies for an Incoming Labour Government (Part 4 of 9 - Shimomuran Economics

Bryan Gould and George Tait Edwards describe Shimomuran Economics... [read more]

Why Public Banks Outperform Private Banks: Unfair Competition or a Better Mousetrap?

In November 2014, the Wall Street Journal reported that the Bank of North Dakota (BND), the nation’s only state-owned bank, is more profitable than Goldman Sachs Group... [read more]

Piketty for Progressives - Part 5

Thomas Riggins continues with his analysis of Piketty's book Capital in the 21st Century... [read more]

State and Revolution: Chapter 5 - Withering Away the State

Thomas Riggins continues to guide us through chapter 5 of Lenin's State and Revolution... [read more]

Labour's vision

Labour leaders have often been eloquent in articulating a vision of the kind of society they want; it is explaining how that vision is to be realised that seems to be the problem... [read more]

Capitalism and crisis

Nelson Wan provides an overview of Marx's explanation for why capitalism goes into crisis, discussing the inherent contradictions within the capitalism system... [read more]

An Extended Review of "Princes of the Yen" by Professor Richard Werner

George Tait Edwards reviews “Princes of the Yen”, the latest book written by Professor Richard Werner... [read more]

An economy ruled by the mob

It is not easy for any of us to get our heads around the complexities of modern economics. Many capitalists themselves and certainly most politicians no longer understand how the system really works... [read more]

Russell Brand and the Nixon inequality shock

Russell Brand's call for revolution reverberated with many beyond the underclass he referenced... [read more]

Marxism is Real Naturalism: Galen Strawson and Panpsychism

Sartre once remarked that the attempt to construct a philosophy that goes beyond Marxism simply recreates a pre-Marxist view that is no longer relevant to current understanding... [read more]

The Shimomuran Economics Solution to the Western Economic Crisis

George Tait Edwards explains how investment credit creation could resurrect Western economies... [read more]

The Failure of Innovation in the Anglo-Saxon Economies

George Tait Edwards examines the role of innovation in economic development... [read more]

An Economic Policy For A Post Neo-Liberal World (Part 3 of 3)

Former Labour MP and member of the Shadow Cabinet, Bryan Gould, provides a road map for reviving Britain's ailing economy... [read more]

The Alternative 2013 Spending Review, Or What Mr Osborne Could Have Said If He Understood Macro-economics

The Spending Review by George Osborne contained no surprises. But suppose Mr Osborne really understood economics and actually wanted to improve the British economy. George Tait Edwards provides a constructive speech for a competent chancellor... [read more]

If markets weren't masters and economics worked for people

The choice on the one hand is for people to be a resource for a rich economy. The choice on the other is for a rich economy to be a resource for society. Alfie Stirling explains... [read more]

Ed Miliband's party funding proposals

Karl Davis makes the case for the Labour Party to embrace its Trade Union roots as part of its challenge to show there is an alternative to the unpopular austerity programme implemented by the Tory dominated Coalition... [read more]

Slavery for Dummies

OutRageous! takes a look at the slavery endemic in modern society. ... [read more]

Out of the Ashes

Now is the time to start planning for a new economy, not dependent on growth. ... [read more]

Political Crisis Deepens in Britain

Rob Sewell picks apart the media furore over the MPs' expenses scandal which has rocked British politics over the past fortnight.... [read more]

Venezuela Strengthens Alliance with Russia to Promote “Polycentrism”

James Suggett on the recent meeting between Hugo Chávez and Dimitri Medvedev.... [read more]