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Category Archives: Economic Policy
Yanis Varoufakis Publishes Some of My Ramblings on the State of Ireland
Yanis emailed me for my thoughts on Ireland’s recent return to the bond market. He has published his own analysis with mine thrown in at the end here. Note the Freudian slip wherein I misspell ‘Fianna Fail’, who are the … Continue reading
Posted in Economic Policy, Market Analysis
4 Comments
Further Problems With the Static Framework of the ISLM
Yesterday I did a short post on how the ISLM model misrepresents how interest rates function because it views them as static. Today I would like to make a further, if more difficult point: namely, that the very way in … Continue reading
Posted in Economic Policy, Economic Theory
9 Comments
Problems with Static Interest Rates in the ISLM
The ISLM takes quite a beating from Post-Keynesians — and, I would argue, rightly so. There are any number of reasons for this but let me just here highlight one that is not very regularly talked about. As is well-known … Continue reading
Posted in Economic Policy, Economic Theory
4 Comments
What Happened to Science and Research Funding?
I’ll never forget the reaction of a scientist I once met, a chemist who had transitioned into corporate management, when I told her that I was an economist. “Oh,” she said, “so you’d know something about corporations and how they … Continue reading
Can Schiff’s Argument be Salvaged by Introducing Nonsense Assumptions?
In my previous post on Peter Schiff and the Austrians a commenter pointed out that I might be misrepresenting Schiff’s position and that it could be salvaged if we allowed for some of Schiff’s own nonsense assumptions. The conversation got … Continue reading
Posted in Economic Policy
7 Comments
Global Sectoral Balances
I recently came across a very confused post on the sectoral balances approach here. I’m not going to argue with it because that would be boring. But check out the graphic that the author has put together. Good stuff!
Posted in Economic Policy
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Peter Schiff, the Austrians and Their Mission to Increase US Debt Held by Foreigners Together With the Budget Deficit
Today I’m going to do something that I usually refrain from doing; that is, I’m going to engage with some of the crank arguments that come from the so-called ‘Austrian economists’. (Actually I have done this once before, but shhh… … Continue reading
Posted in Economic Policy
35 Comments
Did Irish Austerity Really Lead to an Increase in Competitiveness?
Ever since the austerity programs began in Europe after the crisis of 2008 Ireland has been a poster boy. Even though the economy has crumbled enthusiasts still point to the improved current account balance which they claim is due to … Continue reading
Posted in Economic Policy, Politics
3 Comments
The Economics of the Royal Mail Privatisation
The privatisation of Royal Mail will begin tomorrow when the final launch price of the shares and their allocation will be announced. How are these shares likely to perform? Well, if history is any guide, they will perform fabulously well. … Continue reading
Posted in Economic Policy
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How Does QE Work and What Does It Really Do?
After my previous post on the QE taper there was some discussion on the INET YSI Commons Facebook page about the QE programs. I think it might be constructive to sum up what was there discussed as it provides a … Continue reading
Posted in Economic Policy, Market Analysis
38 Comments
Fixing the Economists 