Sunday, January 24, 2021

Bill Mitchell — IMF actions in Ecuador expose its venal motivations

There is clearly confusion among mainstream economists as the fractures in their paradigm are being revealed on an almost daily basis. And the more venal ideological motivations are also becoming clearer, that is, if they weren’t already completely transparent. On January 21, 2021, the World Bank published a Policy Research Working Paper – Does Central Bank Independence Increase Inequality? – which demonstrated that the way central banking has been conducted in this neoliberal era has been instrumental in the increasing income inequality that has manifested. A month earlier (December 21, 2020), we read that the IMF is waging a campaign against the democratically elected Ecuadorian government to further restrict its fiscal discretion as it struggles with a terrible pandemic situation, and set in place rules that will allow further resource plunder by foreign corporations. The latter really tells you that despite claims by mainstream economists that they have shifted away from the mainstream austerity bias, the truth is different. A quite remarkable juxtaposition that just demonstrates how confused this lot must be at present. Their attempts to cover their motivations in technical authority are clearly failing....
Bill Mitchell – billy blog
IMF actions in Ecuador expose its venal motivations
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia


lastgreek said...

[Off topic]

Sorry, Tom, for hijacking your thread here, but I don't have a watercooler to go to this morning to say what I gotta say. I saw one of the dumbest, stupidest, most cowardly plays in NFL post season history yesterday. Green Bay on 4th and goal and with around 2:00 mins to go in the game decides to kick a field goal instead of going for it. 4th and goal! About 2 mins left in the game! The winner goes to the Superbowl! The idiots go for the field goal!!! And... you're handing back the football to a future hall of famer and one of the best of all time quarterbacks Tom reakin' Brady!!! Yeah, in your freakin' dreams you'll get the football back! Head coach needs to be immediately fired. Like right now! It's for the Superbowl! You go for it!!!

Peter Pan said...

Why are you watching American football, you traitor.

Ahmed Fares said...

I'm not a sports fan, but I saw this sign about social distancing which I thought was funny. The sign reads:

“During this coronavirus outbreak, remember to remain at least 10 feet away from others. If you’re wondering how far that is, picture a Bears wide receiver and then imagine where Trubisky actually threw the pass. That distance is about 10 feet.”