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Today’s Greek Crisis Blogging: John Maynard Keynes, Speaking from the Grave, Insults the Austerity-Loving Masters of Europe

Keynes says that they must be “inexperienced persons”.

John Maynard Keynes (1936): The General Theory of Employment, Interest and Money: Chapter 19: Changes in Money-Wages: “The method of increasing the quantity of money…

…in terms of wage-units by decreasing the wage-unit increases proportionately the burden of debt; whereas the method of producing the same result by increasing the quantity of money whilst leaving the wage unit unchanged has the opposite effect. Having regard to the excessive burden of many types of debt, it can only be an inexperienced person who would prefer the former…

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Today’s Greek Crisis Blogging: John Maynard Keynes, Speaking from the Grave, Insults the Austerity-Loving Masters of Europe

July 2, 2015

July 2, 2015

U.S. economic mobility trends and outcomes

U.S. income and wealth inequality are no longer increasing, but a return to the equitable levels of the mid-20th century isn’t likely anytime soon