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Recent Posts

Quantitative easing around the world: lessons from Japan, UK and US

QE was effectively born in Japan , a country plagued in recent history by deflation and rolling recession. The phrase “quantitative easing” was coined to describe Japan's efforts to kickstart growth and get prices rising [...]

Capitalist economy, deflation and debt #4 Minsky | Seminar in …

Minsky major contribution to economic theory and the understanding of financial crises was the financial instability hypothesis. The hypothesis is has it foundation in two characteristics of capitalist economies. One is that  … [...]

Economics as Classical Mechanics: CPI deflation in Japan will …

I've borrowed this table from Japan Statistics. Considering the fact that only the price of fuel and transportation has been rising, one can interpret the current fall in oil price as a cause of the overall price drop in the months to [...]

two main schools of Economics lectures by Shalini Singh

It is part of lecture presented by Shalini Singh, Lecturer at Biyani Girls College on behalf of Guru KPO. This lecture discusses the two main schools of [...]

Incorporating the Rentier Sectors into a Financial Model | Michael …

Introduction. Now that the Bubble Economy has given way to debt deflation , the world is discovering the shortcoming of models that fail to explain how most credit creation today (1) inflates asset prices without raising commodity prices or wage levels, and (2) creates a reciprocal flow of debt service. This debt service tends to rise as a proportion of personal ….. Minsky , Financial Development and Crisis. Basingstoke, Hampshire UK: Palgrave MacMillan. Stockhammer E … [...]

Diary of a Republican Hater: MMT-MM Smackdown: Scott Sumner …

Depressions and deep recessions like 1932 and 2008 are associated with deep asset deflation like Fisher and Minsky talk about. In 2009 we saw deflation and deep deflation in 1929-32. Certainly during this recessions we … [...]