Debt-free money: A brief reply to Randall Wray
8 March, 2016L. Randall Wray is exercised by my suggestion that he has engaged in semantic sleight-of-hand. To summarise my argument: it is an obvious fact that a ten dollar bill is not a debt – because the issuer owes the holder nothing. In fact, we do not hold dollar bills in order to be repaid, we [...]
Accounting as religion: Buffett, Derrida, and MMT
25 February, 2016A number of my recent posts seem to have wound up some of the more sensitive ‘mainstream’ economists, who don’t like the suggestion that the likes of Minsky deserve their own ‘school’. Some philosophers of science have similarly taken offence: even eclectic economists apparently are not eclectic enough. As a heterodox philosopher of science myself, [...]