The Mosler Economic Policy Center is funding one Mosler Summer Scholarship for 2010, supporting research in the area of economic policies for full employment and price stability. The scholarship covers tuition and fees, room, and board (the equivalent of approximately 5,000 francs) at Franklin College, Lugano, Switzerland for three weeks for one 3-credit Senior Research Project in Summer session I (June 14 – July 1). The selected Mosler scholar will work under the supervision of Professors Terzi and Fullwiler.
All students meeting the following requirements are invited to apply:
a) Junior or senior class standing by May 2010 (at Franklin College Switzerland or other accredited institution);
b) Significant progress in upper-level Economics.
Students who are considering this opportunity are advised to preliminarily contact Prof. Andrea Terzi (aterzi@fc.edu), so you can find out more about what the project entails. Students who will confirm their interest will be requested to submit their application, including a brief letter stating the reasons for their interest and describing their intended project in a two-page research outline.
Prior scholars have worked on Policies at the Intersection of Unemployment and Poverty (Zachary Levy) and The Effectiveness of Fiscal Policy Lessons from Japan 1990-2007 (Roxana Cazacu).
Please contact Professor Terzi (aterzi@fc.edu) for additional information or assistance.
What Will Change the Total Amount of Bank Deposits Held by the (Non-Bank) Private Sector?
In: Flash Cards
By: Andrea Terzi
The total amount of bank deposits has nothing to do with the saving attitude, or with the spending decisions, of bank accounts’ holders. A new bank deposit can only be created through two main channels. In one, deposits are born twins with bank loans to the non-bank private sector (households or firms). In the other, deposits are born twins with bank reserves as a result of payments made by the public sector (Treasury or Central bank) to the non-bank private sector. A third process, yet smaller in importance, is when the banking sector makes net payments to the non-bank private sector.
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- Tags: Bank, Bank Deposits, Banking, Central, Central Bank, Private Sector
By: Andrea Terzi
No, it never does. The total amount of deposits in the banking system cannot change as a result of spending decisions by households or firms (technically, the “non-bank private sector”). Spending decisions can only move deposits from one account to another, and cannot cause a change in overall deposits.
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- Tags: Bank Deposits, Banking, Spending
The following is an interview with Paul Davidson on the Global Crisis and how to end it. (1 February 2009)
The second Mecpoc Symposium was held on April 21, 2009, at Franklin College Switzerland. The proceedings consist of papers submitted by the guest speakers and transcripts of the speakers’ remarks.
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- Tags: Announcement
By: Andrea Terzi
If you think that by not spending (i.e., saving) a bigger portion of your income you are thus providing more financial means to business investment, you may be dead wrong! Businesses are better off when you spend more (not less) of your income. Someone’s expense is another’s revenue.
By: Andrea Terzi
Have you ever considered full employment as a means to properly measure the cost of wars? Tolerating unemployment may indeed lead to pro-war sentiments. Fighting wars requires using resources to produce weapons, feed soldiers, provide transportation. Read the rest of this entry »
By: Andrea Terzi
You may think that the Fed, the central bank of the U.S., has complete control, or at least some control of how many banknotes circulate in the economy. The fact is that the Fed has no power in this.
By: Andrea Terzi
If you think wars in Iraq and Afghanistan were a gigantic waste of money, chronic unemployment in peacetime may be even worse! War raises output and unemployment is not an efficient allocation of our resources. Read the rest of this entry »
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- Tags: Middle East, Unemployment, War
The Mosler Summer Scholarship 2009 was awarded to Franklin College student Roxana Cazacu (class of 2009) for her research on The Effectiveness of Fiscal Policy in Japan.
Please click here to download Roxana’s Paper: The Effectiveness of Fiscal Policy: Lessons from Japan 1990-2007
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- Independent Conn. Senate Candidate Warren Mosler Signs Pledge to Vote Against Any Cuts in Social Security or Medicare
- Views on Unemployment
- When is Government-Issued Debt Safe? If You Think This is Only True When Debt is Below Some Threshold You May be Dead Wrong
- The Fed is the Monopoly Supplier of Net Reserves to its Banking System; Therefore, has no Option But to Set at Least One Interest Rate
- In the Banking System, the Causation Runs From Loans to Deposits, That is: ‘Loans Create Deposits’.
- Operationally, Government Spending is Not Inherently Revenue Constrained. Any such Constraints Are Necessarily Self-Imposed
- Government $ Deficit = Non Government $ Surplus (Net Financial Assets)
- Warren Mosler on CNBC
- How to Fix the US Economy in Less Than 500 Words
- 2010 Mecpoc Symposium
- Mosler Summer Scholarship 2010
- What Will Change the Total Amount of Bank Deposits Held by the (Non-Bank) Private Sector?
- Does a Change in Our Spending Decisions Affect the Total Amount of Bank Deposits?
- Interview with Paul Davidson, Regarding the Crisis
- 2nd Mecpoc Symposium
- More Savings, Yet Less Business Finance: Why?
- Unemployment and Pro-War Sentiments?
- Why It's You and Me Deciding the Amount of Banknotes in Circulation
- Wars Waste Resources, So Does Unemployment
- Mosler Summer Scholarship 2009
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