new pecora open letter

[Skip to the end] The ‘finanical crisis’ is not an economic concern per se. Particularly as the financial sector contributes no value added to the real economy and for the most part serves no public purpose. However, when aggregate demand falls short of politcal goals, as evidenced by the unemployment rate, capacity utilization, and other […]

Galbraith/Wray/Mosler submission for February 25

[Skip to the end] This is the paper being presented next week in DC. Please distribute. Comments welcome! This is how it begins: Comments on the FASB Exposure Drafts relating to “Comprehensive Long-term Projections for the U.S. Government (ED 1)” and to “Accounting for Social Insurance. (ED 2)” Testimony Submitted by: James K. Galbraith, Lloyd […]