It’s a tautology with no causal or explanatory power — Supply and demand is the bread and butter of mainstream economics discourse. Economists love to take reality, and simplify it into to some rule or pattern, that allows them to avoid discussing or addressing many real and complex issues. This is the reason for the emphasis on empiricism. It is…

It’s a Shock Absorber — The Disagreement Mainstream economic theory tends to treat monetary policy as a bridge or a ramp. Raising interest rates can cause an arbitrary amount of deflation, in this view. But if you understand the mechanics of interest rates, this makes little sense. Background First of all, what is interest? It is a measure…

While the paper is good, it does reflect some inconsistencies in the way MMT discusses stabilization — Jackson Meija and Brian Albrecht published a paper on MMT titled “On Price Stability with a Job Guarantee”. The latest revision is dated January 2022. Their conclusion is that a Job Guarantee is not an effective stabilization of the price level. The glaring issue with the paper, is that it…

Raising rates cannot stop inflation, but it can stretch it out over a longer time frame — The Valuation of The National Debt There is a simple indication that raising rates doesn’t credibly eliminate inflation. And that is that raising rates can’t plausibly increase the attainable valuation of the national debt, at least not on its own. If the valuation of the national debt does not increase, then the value of the currency…

I wish to talk to you today about interest. While the position I will present to you, may carry controversy, I can assure you that I hold this view with absolute conviction, and the analysis and rigor to back it up. To understand interest, we must first understand the brutality…

Hopeware: Ecash bill overpromises and relies on untested level of tamper resistant hardware. The ecash bill is a piece of legislation put forward by Represantive Stephen Lynch with cosponsors Representatives Jesus G. Garcia, Rashida Tlaib, Ayanna Pressley, and Alma Adams. The ecash bill hopes to achieve a secure and privacy…

I asked my control theory professor doctor Sean Warnick something that triggered a discussion about the time domain and the frequency domain and fourier series circa 2010. Or maybe he just brought this up himself. He said there is an known application of “feedback” in a temporal sense, and that…

Web development isn’t just about building websites — One surprisingly versatile use for html is using it to typeset pdf documents. Html provides a good middle ground between the precision of latex and the informality of markdown. With a little knowledge of basic css and html you can make good looking custom documents that render in very predictable…

Tying your token, to your technology is a bad choice. — Cryptocurrencies have promised a lot, and delivered a certain amount of utility. But the clear problem with cryptocurrency as a concept is that your technology stack is intrinsically tied to your token and its value. Technology changes frequently. Throughout history, accounting technology has changed from one medium to the next…