ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Monetary Policy Debates in the Age of Deglobalisation

This article is the fi rst in a series of two articles on monetary policy debates in the age in which deglobalisation is a buzzword. The ongoing monetary policy debates of the age will be discussed by focusing on macroprudential measures, capital controls and central bank independence in Part II.

A War No One Can Win

The Russian invasion of Ukraine started on 24 February 2022. Since then, several thousand combatants from both sides and more than 500 Ukrainian civilians have died, bombs have ruined many cities, and more than two million Ukrainians—half of them children—left the country to become refugees.

Climate Crisis, Global Debt, and the Fermi Paradox

In a recent article, Yıldızoğlu (2021) reminded us of the Fermi Paradox, which can be summarised as: Although the probability of the existence of other forms of life in the universe is sufficiently high, why have we not met any?

The Battle of GameStop

What the battle of GameStop has brought into light is that democracy in financial markets is just a myth: whoever controls the valves, controls the flow.

A Consortium Proposal to the SDR Basket Countries

On 30 March 2020, the United Nations Conference on Trade and Development (UNCTAD) called for a $2.5 trillion COVID-19 crisis package for developing countries.1 The UNCTAD proposals were: (i) $1 trillion to be made available through the expanded use of the International Monetary Fund (I

The Wealth of Corporations

“Financial Assets = Liabilities.” It is one of the great accounting-identity truisms of economic understanding both among traditional, mainstream economists, and even (especially) among many heterodox, “accounting based” practitioners.

Debt, Wealth and Climate

Based on the German Currency Reform of 1948 and the “Modern Debt Jubilee” of Steve Keen, a globally coordinated orderly debt deleveraging mechanism is proposed to address the global debt overhang problem is proposed. Since the global debt overhang and lack of sufficient climate finance flows are interconnected, Climate Authorities are added to the mechanism to discuss how this may help to improve the situation is discussed.

Triggering a Global Financial Crisis

Whether a black swan or a scapegoat, Covid-19 is an extraordinary event. Declared by the WHO as a pandemic, Covid-19 has given birth to the concept of the economic “sudden stop.” We need extraordinary measures to contain it.

The End of Super Imperialism?

With intensifying concerns regarding the soundness and stability of the international monetary and financial system, calls for reforming it have been on the rise. One recent call was made by the Bank of England Governor Mark Harvey, in August 2019, in which he suggested a synthetic hegemonic currency to replace the US dollar as the key reserve currency. Whether such calls will lead to an end of the key reserve currency status of the dollar remains to be seen.

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