The National Debt And The Funding System
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Pragmatic Capitalism
Author | : Cullen Roche |
Publisher | : Macmillan |
Total Pages | : 252 |
Release | : 2014-07-08 |
Genre | : Business & Economics |
ISBN | : 1137279311 |
An insightful and original look at why understanding macroeconomics is essential for all investors
The Deficit Myth
Author | : Stephanie Kelton |
Publisher | : PublicAffairs |
Total Pages | : 311 |
Release | : 2020-06-09 |
Genre | : Business & Economics |
ISBN | : 1541736206 |
A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.
Global Waves of Debt
Author | : M. Ayhan Kose |
Publisher | : World Bank Publications |
Total Pages | : 403 |
Release | : 2021-03-03 |
Genre | : Business & Economics |
ISBN | : 1464815453 |
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Oregon Blue Book
Author | : Oregon. Office of the Secretary of State |
Publisher | : |
Total Pages | : 232 |
Release | : 1895 |
Genre | : Oregon |
ISBN | : |
The Liquidation of Government Debt
Author | : Ms.Carmen Reinhart |
Publisher | : International Monetary Fund |
Total Pages | : 47 |
Release | : 2015-01-21 |
Genre | : Business & Economics |
ISBN | : 1498338380 |
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
The Federal Reserve System Purposes and Functions
Author | : Board of Governors of the Federal Reserve System |
Publisher | : |
Total Pages | : 0 |
Release | : 2002 |
Genre | : Banks and Banking |
ISBN | : 9780894991967 |
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Alexander Hamilton on Finance, Credit, and Debt
Author | : Richard Sylla |
Publisher | : Columbia University Press |
Total Pages | : 527 |
Release | : 2018-03-06 |
Genre | : Business & Economics |
ISBN | : 023154555X |
“A treasure trove for financial and public policy geeks . . . will also help lay readers go beyond the hit musical in understanding Hamilton’s lasting significance.” —Publishers Weekly While serving as the first treasury secretary from 1789 to 1795, Alexander Hamilton engineered a financial revolution. He established the treasury debt market, the dollar, and a central bank, while strategically prompting private entrepreneurs to establish securities markets and stock exchanges and encouraging state governments to charter a number of commercial banks and other business corporations. Yet despite a recent surge of interest in Hamilton, US financial modernization has not been fully recognized as one of his greatest achievements. This book traces the development of Hamilton’s financial thinking, policies, and actions through a selection of his writings. Financial historians and Hamilton experts Richard Sylla and David J. Cowen provide commentary that demonstrates the impact Hamilton had on the modern economic system, guiding readers through Hamilton’s distinguished career. It showcases Hamilton’s thoughts on the nation’s founding, the need for a strong central government, problems such as a depreciating paper currency and weak public credit, and the architecture of the financial system. His great state papers on public credit, the national bank, the mint, and manufactures instructed reform of the nation’s finances and jumpstarted economic growth. Hamilton practiced what he preached: he played a key role in the founding of three banks and a manufacturing corporation—and his deft political maneuvering and economic savvy saved the fledgling republic’s economy during the country’s first full-blown financial crisis in 1792. “A fascinating examination of Hamiltonian economics.” —The Washington Times