Central bankers and their irrational fear

Mervyn King said “Central banks are often accused of being obsessed with inflation. This is untrue. If they are obsessed with anything, it ...

Central Bank Independence and MMT

This is a follow up to my last post on Corbyn and central bank independence (CBI). No apologies for returning to this topic: not often do y...

Labour and Central Bank Independence

Sometimes Paul Krugman can be very annoying. On a number of occasions I have written a draft of a post, and while in the process of admiring...

People's QE and Corbyn’s QE

Politicians can be adept at co-opting attractive sounding terms to their own cause, even when they distort their meaning while doing so. Osb...

The non-independent ECB

Imagine that the Scottish National Party (SNP) had won the independence referendum. The SNP starts negotiating with the remaining UK (rUK) g...

Austerity as a Knowledge Transmission Mechanism failure

In this post I talked about the Knowledge Transmission Mechanism: the process by which academic ideas do or do not get translated into econ...

Why helicopter money is a political economy issue

When we have a recession caused by demand deficiency such that interest rates hit their Zero Lower Bound (ZLB), the obvious response from a ...

Received wisdom in macroeconomics

For both non-economists and economists There has been some talk recently about what is wrong with macroeconomics. (Jérémie Cohen-Setton has ...