Perry Mehrling has written an excellent blog-entry entitled “Why is money difficult?” He points out 4 essential obstacles to understanding monetary economies he has encountered again and again in teaching his money and banking course over the years: (1) the alchemy of banking, (2) the essential hybridity of the monetary system, (3) the inherent hierarchy… Continue reading Why is Money difficult? Comment on Perry Mehrling’s blog (by Wolfgang)
Month: April 2016
Financialization and Development: our comments on Perry Mehrling’s blog (by Nicolas and Wolfgang)
Perry Mehrling has published a comment on UNCTAD’s 2015 Trade and Development Report, “Making the international financial architecture work for development“. We agree with Mehrling that “the deep suspicion of financial development that is evident throughout the report might rather be considered part of the problem than part of the solution” and, as Mehrling is… Continue reading Financialization and Development: our comments on Perry Mehrling’s blog (by Nicolas and Wolfgang)
Legal Institutionalism: The Public/Private Law dialectic, Accounting and Post Keynesian Monetary Macroeconomics
Summary The EU and the Eurozone are in deep crisis. So are orthodox and heterodox economics. While orthodox neoclassical economics have “no room for money” and nothing to say about financial crises and deflationary depressions, heterodox Post Keynesians do better in that regard but lack a shared paradigm. They also lack a systematic and precise… Continue reading Legal Institutionalism: The Public/Private Law dialectic, Accounting and Post Keynesian Monetary Macroeconomics