• Home
  • Bio
  • Blog
  • Book Reviews
    • Money
    • Angrynomics
  • Media
  • Press
  • Supercharge Me
  • Angrynomics
  • Money
Search
Philosophy of Money logo
  • Home
  • Bio
  • Blog
  • Book Reviews
    • Money
    • Angrynomics
  • Media
  • Press
  • Supercharge Me
  • Angrynomics
  • Money
Latest Posts
  • Euro crisis II
  • EPICs v taxes
  • The wrong chapter of the textbook
  • Pandemania

Theory & Other Problems

Home
Theory & Other Problems

QE is debt reduction

Eric Lonergan
17th January 2021
Helicopter Money, Monetary Policy, Theory & Other Problems
14
QE is not a liability transformation - it is debt reduction The remuneration of bank reserves has been a source of significant analytical confusion among economists. This arcane technicality matters far more t...

Marx has the last laugh

Eric Lonergan
26th July 2020
Economic History, Finance & Asset Pricing, Theory & Other Problems
2
I cannot think of a better interlocutor than Chris Dilow. He raises another set of interesting questions in his reply to my reply. I am in danger of completely forgetting our original divergence of thought, but...

Angrynomics: a reply to Chris Dillow

Eric Lonergan
25th July 2020
Economic History, Theory & Other Problems, Uncategorised
3
Chris Dillow writes perhaps the most interesting economics blog I know. Its scope is considerable, and despite his declaration of bias - he self-identifies as a ‘marxist’ - he is typically empirical. His recent...

The Prudence Principle: a new rule for fiscal policy

Eric Lonergan
23rd August 2019
Helicopter Money, Monetary Policy, Money in Europe, Theory & Other Problems
Should the government run a budget deficit or a budget surplus? What size should the deficit or surplus be? Devising a rule which allows the public to assess the integrity of government is a major challenge...

The most important social scientist since Keynes

Eric Lonergan
5th July 2019
Theory & Other Problems
2
Three validity claims The German social scientist, Jürgen Habermas, has just turned ninety. It is an odd reflection on our times that he is not renowned. In an age of academic specialisation this may reflect o...

A reply to Stephanie Kelton

Eric Lonergan
19th March 2019
Definitions of Money, Monetary Policy, Theory & Other Problems
21
The crux of the MMT debate This recent article by Stephanie Kelton is crystal clear and reveals the crux of the ‘MMT debate’. It’s all about central bank independence. Also listen to this INET interview wi...

Stock prices & r*

Eric Lonergan
28th February 2019
Finance & Asset Pricing, Monetary Policy, Theory & Other Problems
2
Economists pay insufficient attention to asset prices. Ask most economists what the relevance of the bond equity correlation is for fiscal policy and they will be baffled. You’ll be lucky if they know what you’...

Functional finance and fiscal rules – a synthesis (Part II)

Eric Lonergan
5th November 2018
Definitions of Money, Helicopter Money, Monetary Policy, Theory & Other Problems
16
Introduction A curious argument has broken out over the Labour’s proposed fiscal rule. Some advocates of functional finance, in particular, have been vociferous in their criticisms. There is scope for a consid...

MMT and fiscal rules (part I) – a prologue

Eric Lonergan
28th October 2018
Definitions of Money, Monetary Policy, Theory & Other Problems
11
When I explained the essential tenets of Modern Monetary Theory (MMT) to Ben Bernanke, over dinner in Washington, he replied somewhat quizzically, “Isn’t that just economics?” In fact, on the accounting treatme...

Why is universalism losing?

Eric Lonergan
12th October 2018
Theory & Other Problems
5
There is a tension in all enlightened ‘identity politics’. How do we combat discrimination without accepting the premise that there is significant difference? And how do we promote universalism without denying ...
  • 1
  • 2
  • 3
  • …
  • 6

Categories

  • Articles
  • Austerity
  • Book Reviews
  • Climate policy
  • Definitions of Money
  • Economic History
  • Finance & Asset Pricing
  • Helicopter Money
  • Media
  • Monetary Policy
  • Money in Europe
  • Press
  • Review's of Eric's Book
  • Sample Of One
  • Theory & Other Problems
  • Uncategorised

Receive updates

Insights into your inbox

Reviews of Eric’s book

  • Reviews of Eric’s book

    Eric Lonergan
    9th August 2014

In the press

  • CNBC: market sell-off is ‘noise’

    Eric Lonergan
    17th February 2018
  • Monetary policy & babysitting: why rates are so low, and ‘what’s next?’

    Eric Lonergan
    7th August 2016
Contact: hello@philosophyofmoney.net Copyright © 2017 Philosophy of money. All rights reserved. Web Design by BlackBeltWebDesign.Ninja
  • Terms of Service
  • Privacy Policy
  • Cookies
  • GDPR – Request personal data