The 'Borrowing Costs' Ritual
Britain’s supposed ‘borrowing crisis’ says less about financial necessity than about a political class still trapped inside the rituals and superstitions of a pre-floating exchange rate world.
Interest Rates
In Reality, UK Borrowing Costs Have Gone Down
A ‘bond crisis’ is upon us, apparently. Break the usual framing and the opposite emerges: borrowing costs have fallen, and the ‘crisis’ is seen for what it is - manufactured panic serving particular interests.
Sophistry or Shibboleth? - "Currency Collapse"
Currency Collapse is Codswallop. Why the Currency Crisis Crew have it backwards, yet again.
Not Only Can We Ignore the Bond Market, We Must
The gilt market is mendicant, not master. Why we must stop our devotion to an empty throne and remove this phantom veto on democracy.
It's Time to Nuke the Bond Market
Why sovereign democracies must dismantle the mythology of ‘bond vigilantes’ to restore political agency
MMT and Post-Keynesian Economics: A New Paper on Ontological Differences
Our new paper explores the fundamental disagreements between Modern Monetary Theory and Post-Keynesian economics, arguing they stem from deep-seated ontological differences
Implications Matter
Is the BBC following the recommendations from the Blastland and Dilnot report? Let’s use a bit of AI magic and find out
Cutting Borrowing Costs Made Simple: End Interest Payments
Two titans of UK politics face off over government interest payments, while completely missing the obvious answer: stop giving rich people free money
MMT Basics: Interest Rates
Bill Mitchell explains how MMT sees the effect of Interest Rate changes on the economy
The Interest/Price Spiral
Raising interest rates in an attempt to control inflation is a myth that could, instead, lead to a price spiral