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Recent Posts

The State as the Employer of last Resort ~ Global Labour Column

The deflationary exit strategy from the crisis advocated by the European elites can only lead to a long, painful recession. In the wake … Here, Minsky identifies two anti-unemployment strategies that are richly instructive [...]

Japan to inflate its way out of deflation | Peace . Gold . Liberty

The new Bank of Japan (BoJ) Governor, Haruhiko Kuroda, started work on Thursday and his first day on the job disappointed investors. At a press conference, Kuroda pledged to do whatever it takes to defeat deflation and … [...]

Debt-deflation and austerity « Real-World Economics Review Blog

Debt- deflation and austerity. November 23, 2012 Editor Leave a comment Go to comments. from Lars Syll. Some of my readers have asked me if there really is any difference between solving the liquidity trap by lowering real … [...]

Ab-Norm-al Econ: What Is Globalization?

It links Minsky's theory of finance with the process of globalization. The author of … Debt deflation is usually painful, and it often reveals problems that were not visible during periods of debt inflation and globalization. Bankers … [...]