Financial regulation lies at the core of sound inflation management. Accordingly, progressives seeking to turn the page on the past few decades of failed macroeconomic policymaking should not hesitate to bring the full scope of financial regulatory tools to bear in the pursuit of just price stability.
Shelter is one of the largest items in a person’s budget, and among the most rigid. How can the state ensure that renters don’t get crushed as workers during a recession, and then crushed again with housing costs as the economy recovers?
The quest for “non-extractive finance” is filled with legal hurdles. This post examines how lawyers can support organizers working to imagine and build a better financial system.
In developing countries, inflation is often driven by the failure of the food supply chain. While economists are well-aware of this, they do not adequately value policies other than monetary policy for responding to inflation. It is time to discard this short-sighted approach.
Raúl Carrillo interviews Darrick Hamilton about the Fed’s approach to unemployment, the racialized harms of shifting the burden of price stability onto workers, and the long struggle for fair and full employment.
How inflation affects a country depends on how its currency is situated within the global monetary order. Peripheral states with subordinate currencies are both vulnerable to, and constrained by, monetary policy decisions at the core, an arrangement that penalizes the global periphery in ways that parallel historical patterns of uneven exchange.
The Fed was not designed to fight inflation, nor is it well equipped to do so. It is time for legislators to expand the macroeconomic policy toolkit.
Introducing a symposium on the hottest topic in macroeconomics.
Muscles and arteries. Hammers and parasites. Addictions and complexes. Destin Jenkins concludes our Bonds of Inequality symposium by reflecting on the political implications of the metaphors we use to describe municipal debt.
The second part of our Q&A with Odette Lienau, discussing global debt relief, corruption and waste, and the possibility of a sovereign debt restructuring mechanism.
The LPE Blog asks Odette Lienau some questions about global debt in the wake of COVID-19, recent international initiatives to provide debt relief, and the rise of China as a major lender to sovereign states.
Every year, governments and public entities wrestle with tough decisions about how they will fund their communities, and every year we absolve Wall Street of its role in siphoning money away from our public budgets. Enough is enough.
History shows that the standards by which societies judge economic activity change over time. As these moral frameworks evolve—or devolve—many of the changes make their way into law. For example, modern anti-trust law is grounded in the widely accepted belief that monopolies depress competition and growth and encourage unscrupulous behavior. However, in the sixteenth and…
Dependence on public debt is a hallmark of democratic capitalist governance. How, then, can we ensure that the interests of private investors do not overtake the needs of the people that debt is meant to serve?
American cities’ reliance on municipal debt must be understood as part of a larger structural reliance on concentrated, mobile capital.
