Current Scholarship
The New Monetary Policy: Reimagining Demand Management and Price Stability in the 21st Century

Nathan Tankus, Modern Money Network

For the past 40 years, there has been a global macroeconomic consensus that mon- etary policy—and specifically interest rate management policy and financial asset purchase/sale policy—should take the lead in stabilizing the domestic economy. As a factual matter, this consensus has accompanied rising inequality, weak nominal wage growth and intensifying ecological devastation.
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The New Monetary Policy: Reimagining Demand Management and Price Stability in the 21st Century

Current Scholarship
Unconventional central banking and the politics of liquidity

Fathimath Musthaq

The 2008 financial crisis saw central banks introduce a variety of tools to shore up the financial system, including unconventional measures that made use of central bank balance sheets to directly shape markets. This paper argues that central banks increasingly rely on unconventional tools in noncrisis times to maintain confidence in an unstable financial system.
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Unconventional central banking and the politics of liquidity

Current Scholarship
Seeing and Not-seeing Like a Political Economist: The Historicity of Contemporary Political Economy and its Blind Spots

Jacqueline Best, Colin Hay, Genevieve LeBaron & Daniel Mügge

Contemporary political economy is predicated on widely shared ideas and assumptions, some explicit but many implicit, about the past. The aim of this Special Issue is to draw attention to, and to assess critically, these historical assumptions.
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Seeing and Not-seeing Like a Political Economist: The Historicity of Contemporary Political Economy and its Blind Spots

Current Scholarship
Who’s to Blame for Lost Silver and Gold? Laments of Financial Troubles in Spain 1588

Stephen Mayeaux

One of the first to catch my eye was a set of documents from the Cortes, the legislative body of Spain. Published in 1593, Acts of the “Cortes” held in the village of Madrid in the year 1588 gives us a look at matters the Cortes considered important enough to address. Among other interesting subjects, these documents show concern over the kingdom’s financial difficulties.
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Who’s to Blame for Lost Silver and Gold? Laments of Financial Troubles in Spain 1588

Current Scholarship
Criminals and Coins: Understanding 17th Century Spanish Economy through Counterfeit Currency

Nina Perdomo

This document is a highlight of the Herencia: Centuries of Spanish Legal Documents collection because it explores the case of Goyeneche, charged with counterfeiting Spanish coin, while allowing modern readers to gain insight into the economic status of Spain in the 1600s.
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Criminals and Coins: Understanding 17th Century Spanish Economy through Counterfeit Currency

Current Scholarship
Will the Growth of Uber Increase Economic Welfare?

Hubert Horan

The urban car service firm Uber is currently the most highly valued private startup company in the world, with a venture capital valuation of over $68 billion based on direct investment of over $13 billion from numerous prominent Silicon Valley investors. Uber’s investors are not merely seeking a share of a still-competitive urban car service industry, but are openly pursuing global industry dominance and its huge valuation is based on expectations that it will be successful.
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Will the Growth of Uber Increase Economic Welfare?

Current Scholarship
Modern Capitalism’s Multiple Pasts and Its Possible Future: The Rise of China, Climate Change, and Economic Transformation

R. Bin Wong

Few have pondered the possible relevance of the ideologies and institutions of political economies in different world regions before the modern era and how the spread of modern capitalism has shaped their contemporary approaches to the future.
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Modern Capitalism’s Multiple Pasts and Its Possible Future: The Rise of China, Climate Change, and Economic Transformation

Current Scholarship
The Student Debt Crisis is a Crisis of Non-Repayment

Marshall Steinbaum

Think of the student debt crisis as an overflowing bathtub. On the one hand, too much water is pouring in: more borrowers are taking on more debt. That is thanks to increased demand for higher education in the face of rising tuition, stagnant wages, diminishing job opportunities for those with less than a college degree, and the power of employers to dictate that would-be hires have the necessary training in advance. On the other hand, the drain is clogged and too little water is draining out: those who have taken on debt are increasingly unable to pay it off.
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The Student Debt Crisis is a Crisis of Non-Repayment

Current Scholarship
Inconsistent Definitions of Money and Currency in Financial Legislation as a Threat to Innovation and Sustainability

Leander Bindewald

External shocks, like the climate catastrophe or the COVID-19 pandemic, as well as intrinsic fallacies like the securitization of bad debt leading up to the financial crisis in 2008, point to the need for updating our monetary and financial systems.
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Inconsistent Definitions of Money and Currency in Financial Legislation as a Threat to Innovation and Sustainability

Current Scholarship
Written Testimony in a Senate Hearing on Building a Stronger Financial System: Opportunities of a Central Bank Digital Currency

Lev Menand

Written Testimony of Lev Menand for the hearing entitled "Building a Stronger Financial System: Opportunities for a Central Bank Digital Currency" before the U.S. Senate Committee on Banking, Housing and Urban Affairs, Subcommittee on Economic Policy.
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Written Testimony in a Senate Hearing on Building a Stronger Financial System: Opportunities of a Central Bank Digital Currency