Month: August 2016
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No: Money Is Not Debt
A quick note in response to recent twitter thread, and to a widespread usage that I find to be deeply problematic. You constantly hear very smart thinkers about money saying that money is debt. I strongly disagree. It’s not a useful way to think about money. Quite the contrary. Balance-sheet assets designating the value of claims may…
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Economists Agree: Democratic Presidents are Better at Making Us Rich. Eight Reasons Why.
In 2013, economists Alan Blinder and Mark Watson — no wild-eyed liberals, they — asked a very important question: Why has the U.S. economy performed better under Democratic than Republican presidents, “almost regardless of how one measures performanceâ€? Start with their “performed better” assertion: it’s uncontestable. While you can easily cherry-pick brief periods and economic measures that…