The Press continues to be full of opinions reflecting deficit: “mongering,” “hawkism,” “terrorism,” and “errorism,” all based on erroneous neo-liberal ideas about economics. There are a number of sites however that provide very good analysis and refuting of these very dangerously silly ideas, which our President, who claimed he understood economics during his campaign, both espouses and seems ready to implement at both his political and our material peril. So, I thought it would be useful to identify some of those here, especially for those progressives who still think it’s a good idea to balance budgets at all costs.
Just today, one of these blogs, Simon Johnson’s Baseline Scenario, had a great piece on financial regulation, Paul Volcker, and the President, which is a must read. A host of writers on Modern Monetary Theory (MMT) write at: New Economic Perspectives including Randy Wray, Bill Black, Marshall Auerback, Michael Hudson, a recent significant addition named Yeva Nersisyan, and other very good economists.
Warren Mosler, economist and Presidential candidate, has a blog of great interest for progressives, and you should not miss his developing book for the economics-challenged, evolving in multiple drafts, on his site called Seven deadly Innocent Frauds. And Professor Bill Mitchell, perhaps the leading Australian writer on Modern Monetary Theory is here. Mitchell and Mosler, in particular, have a pedagogical aspect to their blogs, so you can get a lot of instruction these sites – not only about the basics, but advanced matters too, which frequently are part of the discussion.
Another great site for progressives with a lot of economics posts is New Deal 2.0. There are lots of progressive economists posting there, including some already cited above and Jamie Galbraith, as well.
Finally, one of the most well-known, and most-read sites is Yves Smith’s Naked Capitalism. In addition to her own always relevant and very sophisticated and clear posts, Yves gives a lot of space to guest posters, including some of the leading MMT writers. Later today, she will appear at Corrente, Sunday, March 28 from 2-4PM EST, and will discuss her new book, ECONned in an open forum setting.