Demonizing Socialism and “Macroeconomic Populism”: Myths of Soft Budget Constraints
Some econmists have criticized industrial policy as zombie-crearting “macroeconomic populism.” Evidence indicates otherwise.
Read more...Category Archives: Economic fundamentals
Brexit: Snake Eyes
Boris Johnson is pressing his Brexit luck, which wasn’t looking all that hot.
Read more...Hubert Horan: The Airline Industry Collapse Part 4 – Total Paralysis Continues
Hubert Horan recaps a talk with FT Alphaville’s Izabella Kaminska on why the airline is in desperate shape and not considering solutions.
Read more...Wolf Richter: Unemployment Crisis Going in Wrong Direction: Week 25 of U.S. Labor Market Collapse
Unemployment claims continue to increase, with nearly 20% collecting unemployment insurance. even according to the stringent claims criteria.
Read more...America’s Dire Inequality Demands a New Conceptual Framework. This Economist Has One.
Lance Taylor explains that wage repression — far more than monopoly power, offshoring or technological change — is driving rising inequality.
Read more...What Rent Drop? Listed Prices Aren’t Budging Where COVID-19 Hit Hardest
New York City disproves popular beliefs about flight from cities and rent declines.
Read more...How US Consumers Use Their Stimulus Payments
Contrary to right wing beliefs, giving citizens stimulus payments didn’t lead them to loaf.
Read more...How Warming Will Widen the Italy North-South Economic Gap
In Italy and elsewhere around the globe, climate change will worsen existing inequalities, researchers say.
Read more...Michael Hudson: Debt, Land and Money, From Polanyi to the New Economic Archaeology
Tracing key influences on Karl Polanyi as welll as some of his important initiatives after The Great Transformation.
Read more...Robert Pollin: Biden Not Phasing Out Fossil Fuel, Relies on Carbon Capture
Robert Pollin critiques the Biden climate plan for over-relying on unproven carbon capture, investing too little in solar and wind, and treating China as a rival.
Read more...Michael Hudson: How an “Act of God” Pandemic Is Destroying the West: The U.S. Is Saving the Financial Sector, Not the Economy
The coronavirus’ effect has been to help defeat the financial sector’s enemy, governments strong enough to regulate it.
Read more...More Giveaways to Capitalist Finance? It’s High Time To Change the Objective
Jan Kregel explains the fundamental problem with the economic system is its focus on providing finance to investors.
Read more...Delayed Second Stimulus Already Leading to Cuts in Grocery Store Spending
Hunger is on the rise. Grocery store operators see weaker spending now that the $600/week unemployment supplements are gone.
Read more...Tom Ferguson: Biden Blurring Almost Everything
Political scientist Tom Ferguson juxtaposes the factions around Biden with how Roosevelt eventually stared down banks and corporatists in the second phase of the New Deal
Read more...Summer Rerun: Journey into a Libertarian Future: Part III – Regulation
Another dive, in both senses of the word, into the implications of libertarian ideology.
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