Friday, November 15, 2013

The US cannot not run trade deficits, says James Galbraith

And he is right. If you're the provider of the global unit of account and main reserve currency, there is no other way than to run deficits. The hegemon must provide global demand, and the risk free asset to the global economy.

For the whole interview go here.
By -
Labels: ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

What is heterodox economics?

New working paper published by the Centro di Ricerche e Documentazione Piero Sraffa. From the abstract:  This paper critically analyzes Geof...

  • A reply to Wray - Part I
    By Sergio Cesaratto (Guest Blogger) “The fact that individual countries no longer have their own currencies and central banks will put n...
  • Blog Moving to Substack (and first post)
    "Where is Everybody?" The blog will continue here for announcements, messages and links to more substantive pieces. But those will...
  • Hyperinflation in Bitcoinland
    There are Gold Bugs and there are  Bitcoin Bugs. They all oppose fiat money (hate the Fed and other monetary authorities) and follow some s...