Week one, in one line: the Commonwealth doesn't need your tax dollars to spend, because your tax dollars came from its spending in the first place. #MMT
The household analogy fails not at the margins but at the premise.
Next: what actually happens when Canberra spends.
Échanges avec la gestionnaire de la bibliothèque de Koumbia
Située au cœur de la commune, la bibliothèque communale de Koumbia joue un rôle essentiel. Elle offre aux élèves, étudiants et passionnés de lecture un cadre idéal pour apprendre, se cultiver et se retrouver....
https://favl.org/2026/11/08/echanges-avec-la-gestionnaire-de-la-bibliotheque-de-koumbia/
The remedy: Close the channel that binds, through industrial policy, import substitution, deeper domestic-currency markets and managed private debt, not austerity. Connected entries: 1, 3, 6 and 7. 3/3
Physical: Imported food, energy or critical inputs. Financial: Foreign-currency debt, reliance on foreign capital, private debt a falling currency makes harder to service, weak institutional credibility. These limit policy space, not the issuer's ability to pay. A falling currency raises import prices for everyone. 2/3
#MMT Card 8 of 12, External Sector and Policy Space.
For monetary sovereigns, external deficits are not inherently constraining. Persistent imbalances may signal structural issues. Points: Exports are real costs. Imports are real benefits. For an issuer, a trade deficit means receiving physical wealth, at the time of the trade, for digital keystrokes. Growth capped by export earnings describes a fixed exchange rate, not a floating issuer. Vulnerability channels, alone or compounding. 1/3
Genuine excess demand: Taxation or spending restraint. Points: Raising the policy interest rate, the orthodox default, faces the same test rather than being assumed: What is driving prices, and who pays? The Job Guarantee supplies the structural anchor, so unemployment does not have to serve as the buffer.
Communication, social dialogue and targeted interventions are often crucial.
Connected entries: 6, 8, 9 and 11.
Bottlenecks: Targeted spending, capacity building. Market power: Competition and price regulation. Lending-fuelled bubbles: Credit controls. Distributional conflict: Negotiated incomes arrangements. A falling currency: Import substitution.
#mmt Card 7 of 12, Inflation Management: Plural Tools. Combine fiscal, regulatory, industrial-policy and institutional tools, coordinated to the specific drivers and their distributional impacts. Match the tool to the diagnosis. A table pairs each driver with a tool.
Rapport de sortie à bibliothèque de Boni
Dans le cadre de l’organisation des 72 heures de journées portes ouvertes à la bibliothèque communautaire de Boni, l’animateur de ABVBF Boué Alidou a effectué ce mardi 27 octobre 2026 une sortie à la dite bibliothèque....
https://favl.org/2026/11/07/rapport-de-sortie-a-bibliotheque-de-boni/
İDTAD’ın ODTÜ MD ile ortaklaşa ve başarıyla düzenlediği iki günlük “Ulusların Zenginliği’nin 250. Yılında Adam Smith’i Yeniden Okumak” Sempozyumu sona erdi.
https://idtad.org.tr/2026/03/09/adam-smith/
Benim sunduğum bildirinin başlığı “Adam Smith’ten Schumpeter’e İktisadi Düşüncede Sistem Yaklaşımının Tarihsel İzleri: Kavramsal Yakınlık Endeksine Dayalı Karşılaştırmalı Bir İnceleme” idi. Grafik o sunuma ait.
This week's post: What is wrong with Boring Budgets? https://mainlymacro.blogspot.com/2026/11/what-is-wrong-with-boring-budgets.html
Tax increases could be avoided yet the deficit still reduced if spending was cut. This is as realistic as Jeremy Hunt’s cuts to employees’ NI contributions in the dying days of the Tory government.
Then: Who carries the cost of a fix, and whose interest is served by calling a price rise "the problem"?
Connected entries: 2, 4, 7, 8 and 10.
Common mechanisms, shown as labels: Demand pressing on capacity. Supply bottlenecks. Market-power mark-ups. Wage–profit conflict. Import prices after a currency falls. Points: First question: Which mechanism is binding? Each calls for a different remedy.
#MMT Card 6 of 12,
Inflation: Multi-Causal and Contextual.
Icon: A thermometer and a magnifying glass. Inflation has multiple, interacting causes and distributional impacts. Measurement is imperfect and context-dependent: It needs plural indicators and careful diagnosis.
A Burger King just opened up inside our local Walmart!
Drama on 4 – not my usual fare
https://thismeansnothingtome.wordpress.com/2026/11/06/drama-on-4-not-my-usual-fare/
Compte rendu de la sortie à Béréba
Le 23 octobre 2026, l’animateur de Amis des Bibliothèques de Villages du Burkina Faso (ABVBF) Boué Alidou a effectué une sortie à Béréba....
https://favl.org/2026/11/06/compte-rendu-de-la-sortie-a-bereba/
The Milken Institute Review on blood and plasma, and altruism (with art work) #EconTwitter #altruism #blood #compensationfordonors #moraleconomics #plasma
http://marketdesigner.blogspot.com/2026/11/the-milken-institute-review-on-blood.html
Animation de la bibliothèque Mobile Pénélope
Pour cette rentrée scolaire, 2026-2027, la Bibliothèque Mobile Pénélope ne s’est pas fait attendre par ses usagers....
https://favl.org/2026/11/06/animation-de-la-bibliotheque-mobile-penelope-2/
A review of Fernando Collantes's book (Consumer society and the economists. Consumption and well-being in the history of economic thought), by Cosimo Perrotta
https://doi.org/10.1080/09672567.2026.2750091
