September 2012

Why Paul De Grauwe Is Wrong About TARGET2

17 September 2012

The financial and non-financial resources at the disposal of an institutional unit or sector shown in the balance sheet provide an indicator of economic status. These resources are summarized in the balancing item, net worth. Net worth is defined as the value of all the assets owned by an institutional unit or sector less the value of all its outstanding […]


Mr. Keynes

15 September 2012

I found this cartoon (via Facebook) today. The cartoon’s original location is here.


OMT! Enter The Draghi

6 September 2012

As leaked earlier by Bloomberg, Mario Draghi in a press conference today, presented his big plan to save the world. This will involve OMTs (Outright Monetary Transactions) – in which a Euro Area nation central government requesting aid from the EFSF/ESM will also be provided help by the ECB. Under this plan, when a nation’s […]


Post-Keynesians And Others

3 September 2012

That is the title of Chapter 1 (by John E. King) of this book which has just come out. The Routledge website is here. I just got the book and flipped through to come across this at the beginning of Frederic Lee’s article (Chapter 6): HETERODOX CRITIC: We want to change heterodox economics. HETERODOX ECONOMIST: […]