Executive Summary Milton Friedman is the second most quoted economist after Adam Smith and a tool for private banking interests. Introduction Friedman was one of the best-known economists of the 20th century. He won a Nobel Prize for monetarism, which proposed balanced budgets and pegging the money supply to the expected economic growth. This is…
Executive Summary This is a foundational theory in economics and it is nothing more than an elite construction to defend the status quo. Introduction This theory holds that the normal or equilibrium state of the economy is t the normal state. And when things go wrong in an economy, it is because of a disequilibrium….
Executive Summary A progressive think tank that promotes policies that are in the public interest. Introduction The Roosevelt Institute is along with the CERP one of the few progressive think tanks. Unlike the CEPR, while the RI has great ideas, they are virtually never brought up or invited to speak on mainstream media outlets. It…
Executive Summary CATO is another billionaire funded think tank that hides its funding and produces neoliberal material. Introduction CATO is a billionaire-funded (originated by David Koch) faux think tank that hides its financial bias and produces false information on the topic of the government. It is very influential and produces faux research that works backward…
Executive Summary Robert Rubin was one of the most prominent and influential policymakers and heavily promoted the repeal of Glass Steagall restrictions that he later benefited from when he went back to Citibank from the Clinton Administration. Introduction Rubin was the head of the Treasury under Bill Clinton and Citibank. He was a major proponent…
Executive Summary Larry Summers was one of the most prominent and influential policy makers. Larry Summers was a tool for private banking interests. Introduction Larry Summer is a neoliberal economist who is entirely focused on helping the elite at the expense of the rest of the population. The following quote is interesting for what it…
Executive Summary Milton Friedman was a highly prominent economist. Milton Friedman was a tool of private banking interests. Introduction Friedman was one of the best-known economists of the 20th century. He won a Nobel Prize for monetarism, which proposed balanced budgets and pegging the money supply to the expected economic growth. This is explained in…
Executive Summary It is common to assert that the US government must go into debt to fund deficits. This is ludicrous and illustrates a lack of understanding of the government’s ability to create money. Introduction The myth of how the government funds itself with debt provided in the following quotation. “You’re not likely to be…
Executive Summary US Treasuries are often described as something special. This quote from Warren Mosler demystifies US Treasuries. Introduction This quotation explains how US Treasuries work. “Next, you need to know what a U.S. Treasury security actually is. A U.S. Treasury security is nothing more than a savings account at the Fed. When you buy…
Executive Summary Mainstream and private banking associated economists often talk of governments defaulting. The reality is that for governments that create their own money, there is no possibility of default. Introduction Governments cannot default on their debt unless forced to. This is explained in the following quotation. “A government borrowing in its own currency need…