Category Archives: Economic Policy

Tobin’s Q: A Wily Trickster and Slightly Vacuous

Posted on June 17, 2014 by pilkingtonphil

I was writing an article this morning for an internet website about the recent IMF proclamations that there may be a global housing bubble underway. The article, if it runs, should be online next week and I will link to … Continue reading →

Posted in Economic Policy, Economic Theory | 6 Comments

Articles on the Natural Rate of Interest and the Relationship Between Central Banking and the New Nationalisms

Posted on June 9, 2014 by pilkingtonphil

Well, I’m still slaving away on the book. I hope regular readers will appreciate the fall-off in posts in this regard. The book will be worth it. I promise. Anyway, the ever present drip of my publications elsewhere should prove … Continue reading →

Posted in Economic Policy, Economic Theory | 40 Comments

Free Money? Basic Income Guarantee vs. Job Guarantee

Posted on June 6, 2014 by pilkingtonphil

Still writing my book. But here’s one of those articles that I do find time to write because I get paid for it! This one examines the BIG policy versus rivals like the JG and the AFT. Money for Nothing … Continue reading →

Posted in Economic Policy, Media/Journalism | 2 Comments

Housekeeping and Tending to Scotland

Posted on June 5, 2014 by pilkingtonphil

Sorry for the radio silence, folks. Still writing that book. Nearly half way done now. In the meantime the Levy Institute has issued my paper on the Scottish monetary system with a nice preface by Dimitri B. Papadimitriou.

Posted in Economic Policy | 1 Comment

What Would Keynes Have Said About the Current Stagnation?

Posted on May 31, 2014 by pilkingtonphil

Readers may have noted some absence on the blog over the past few days. This is because I am currently writing a book which seems to be sapping all my writerly juices at the moment. I have about a third … Continue reading →

Posted in Economic Policy, Economic Theory | 14 Comments

The Natural Rate of Interest Does Not Exist

Posted on May 17, 2014 by pilkingtonphil

I just want to make a quick note on the multiplier and the theory of liquidity preference that is not generally recognised. When the full implications of this argument are recognised and integrated with marginalist theories of savings and investment … Continue reading →

Posted in Economic Policy, Economic Theory | 18 Comments

Why Thomas Piketty is Wrong About Inflation and Interest Rates

Posted on May 16, 2014 by pilkingtonphil

I have pointed out on here recently that Thomas Piketty’s views on public sector debt are wholly un-Keynesian. Well, we should also point out that his view of inflation and interest rates are also fairly un-Keynesian. Piketty basically thinks that … Continue reading →

Posted in Economic History, Economic Policy, Economic Theory | 35 Comments

I’m Pointing at the Moon, You’re Looking at My Finger: Janet Yellen on Post-Keynesian Economics

Posted on May 15, 2014 by pilkingtonphil

Here’s an interesting fact that I’ll bet many of you didn’t know: the current head of the Federal Reserve, Janet Yellen, wrote a short paper in 1980 examining the theories of the Post-Keynesians. You can find it here. The paper … Continue reading →

Posted in Economic Policy, Economic Theory, Philosophy, Psychology | 26 Comments

How Do Changes in Interest Rates Affect the Level of Economic Activity?

Posted on May 12, 2014 by pilkingtonphil

Roy Harrod has some rather interesting opinions on the effectiveness of interest rates. As readers of this blog know I am rather skeptical of using interest rates to steer the economy. Basically this is because I think that using them … Continue reading →

Posted in Economic Policy, Economic Theory | 46 Comments

Exploring Inequality: Real Wages and Productivity Growth

Posted on May 7, 2014 by pilkingtonphil

I recently had an argument with a few New Keynesian types in the comments section of Lars Syll’s blog. I won’t get into the nuances here as they are not very interesting. Basically the New Keynesians were trying to defend … Continue reading →

Posted in Economic History, Economic Policy, Economic Theory | 120 Comments