Government spending that pays for itselfMany of my posts challenge overly optimistic claims. But this one’s about a more hopeful story: how some types of government spending can…15h ago15h ago
How the Fed Controls the Money SupplyToday, I want to break down how the Federal Reserve controls how much money is circulating in the economy, also called the “money supply”…4d ago4d ago
How the money system worksToday, I want to give an overview of how the money supply system works. Money, in this context, means anything people use to pay for…Jun 30Jun 30
Democracies should not let war in the Middle East distract them from UkraineVoxUkraine published this op-ed of mine today. With their permission, I’m reproducing it here.Jun 27A response icon1Jun 27A response icon1
Is the National Debt Just Money We Owe Ourselves?You may have heard the argument that we shouldn’t worry about the national debt because we “owe it to ourselves.” Today, I want to break…Jun 26A response icon1Jun 26A response icon1
How and Why the Fed Controls Inflation and Interest RatesToday’s post is about the Federal Reserve-what it does, and why interest rates are such an important part of how it manages the economy.Jun 23A response icon1Jun 23A response icon1
How Social Security Affects the Federal BudgetToday I want to tackle an issue that comes up when we talk about government deficits and debt: Does Social Security actually contribute to…Jun 16Jun 16
Can the US Pay Back Its Debt by Growing the Economy?Sometimes you hear the following line of thought about the growing U.S. national debt: “We don’t need to raise taxes or cut spending. We…Jun 12Jun 12
Why authoritarian countries lie: a persuasive theoretical perspectiveI recently came across a fascinating working paper by Konstantin Sonin, “The Reverse Cargo Cult: Why Authoritarian Governments Lie to Their…Jun 11Jun 11
