Louis-Philippe Rochon — The Economics Of Basil Moore
Good talk by LPR on the evolution of Basil Moore’s views on endogenous money. Talk presented at the ‘International Symposium on Economic Thought’ conference, November 28th, 2020.
Monthly Archives: November 2020
Gita Gopinath On Fiscal Policy
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Gita Gopinath, the IMF’s chief economist is now arguing for a coordinated fiscal expansion, and that “coordinated spending is better than the sum of the individual parts” (CNN interviewer quoting her) and that “it is time for a global synchronised fiscal push to lift up prospects for all” (FT article referred in the CNN interview.
This is of course welcome! A lot of countries can’t do it alone and a coordinated expansion would allow them to raise output, keeping balance of payments in check.
It’s sad however, that the message was this late (although anything better than never). Also the characterisation of the problem as if we’re in a liquidity trap is dubious as they just want to say that fiscal policy will work only now, not after a recovery. But fiscal policy always works.
Sergio Cesaratto has a new book which:
- Introduces readers to the basics of heterodox and orthodox approaches in economics
- Explains the problematic aspects of the European Monetary Union (EMU) from the standpoint of alternative economic theories
- Highlights the conservative nature of the EMU and the economic and political difficulties of reforming it
with the further description:
This book discloses the economic foundations of European fiscal and monetary policies by introducing readers to an array of alternative approaches in economics. It presents various heterodox theories put forward by classical economists, Marx, Sraffa and Keynes, as a coherent challenge to neo-classical theory. The book underscores and critically assesses the analytical inconsistencies of European economic policy and the conservative nature of the current European governance. In this light, it examines the political obstacles to proposals to reform the European monetary union, as well as those originating in the neo-mercantilist German model. Given its scope and format, the book offers a valuable asset for researchers and members of the general public alike.
[the title is the book site at Springer]