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“Wage changes occur at infrequent intervals and condition the behaviour of the parties concerned for the ensuing economic period (sometimes months, usually years).”

Capitalism Economics Employment Unemployment Wages Macroeconomics Fiat Currency Modern Macroeconomics Theory

Book:Macroeconomics

Source: Macroeconomics

“Nations do not exist in isolation. Peoples have always roamed the globe in search of different opportunities. Nations principally trade to expand their consumption possibilities. In a world where we produce to consume, receiving goods and services is better in material terms than sending them elsewhere.”

Economics Trade Imports Macroeconomics Exports External Economy

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Source: Modern Monetary Theory: Key Insights, Leading Thinkers

“While export spending boosts national income, we consider exports to be a cost in the sense that they deprive the domestic population of the use of the real resources that are used up in the production of the goods and services sold abroad.”

Economics Trade Macroeconomics Exports

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Source: Modern Monetary Theory: Key Insights, Leading Thinkers

“The multilateral institutions that were introduced in the Post World War II period to coordinate international aid – the IMF and the World Bank – have failed in their respective missions. They became agents for the ‘free market’ ideology and through their structural adjustment packages and related policies have made it harder for a nation to develop.”

Economics Developing Countries Macroeconomics Imf World Bank Developing Nations

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Source: Modern Monetary Theory: Key Insights, Leading Thinkers

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