Daily Archives: January 2, 2015


New Blog Theme 1

You may have noticed a pretty drastic change to the look of the blog.  After 7 years or so with one theme, I finally decided to move to a more modern one that unlike the old one is a responsive design and one that can take advantage of all of the new features of the latest WordPress software.

If you look closely, you might see some similarities with the Friends of the Joshua Hyde Public library web site.  I am using the same theme here as I use on the Friends site. A major difference is that the Friends web site is a general web site, not a blog.  That shows the flexibility of WordPress and this theme, which I did not appreciate until recently.

Let me know what you think about the new look and feel.  Tell me if there is any feature of the previous theme that I may have forgotten to transition to the new theme.  It is easiest if you comment on the Facebook link to this post.


Bill Mitchell: Demystifying Modern Monetary Theory

Naked Capitalism has the article Bill Mitchell: Demystifying Modern Monetary Theory which presents the video below.

This talk is wide-ranging, and starts by pointing out that in key ways, Modern Monetary Theory incorporates basic concepts that have perversely omitted from mainstream macroeconomics, largely for ideological reasons. This conversation does not get much into central bank operations, which is the basis for MMT’s claim that it is a much more accurate representation of how monetary operations work for a fiat currency issuer like the US than textbook or popular press accounts that are based on outdated “gold standard” notions.


I can speculate on why other people have such a hard time accepting such simple explanations of how to fix the economy and what is wrong with our tightly held mythical beliefs about the economy, but I’d rather hear from readers who still cannot accept what has now become obvious to me.

Please comment on why you think what Bill Mitchell says cannot possibly be true.