Michael Hudson: Economists’ Deadly but Innocuous-Seeming Proclamations
A wide-ranging interview by Michael Hudson on the mind games that economists play.
Read more...Category Archives: Market inefficiencies
Can Uber Ever Deliver? Part Two: Understanding Uber’s Uncompetitive Costs
Why Uber is the taxi industry’s high cost producer and cannot grow into profitability.
Read more...Bill Black: Bloomberg Notices Paul Romer’s Indictment of Macroeconomics
World Bank economist Paul Romer calls out obvious defects in macroeconomics, and is treated as a bomb-thrower.
Read more...A Review of David Fleming’s Lean Logic (and Resilience)
Resilience in complex systems and slack systems.
Read more...Rethinking Macroeconomic Theory Before the Next Crisis
Only after the US subprime financial crisis began have the macroeconomic and monetary theories of mainstream economists been questioned.
Read more...Michael Hudson: Celebrating the One Percent – Is Inequality Really Good for the Economy?
The backlash has begun. Prominent economists are upping their game in trying to depict the gains of the One Percent as virtuous and beneficial.
Read more...David Harvey and Capitalist Hypertension
David Harvey on the circulation of capital, crisis, and the shipping crisis.
Read more...Does Wall Street Do “God’s Work”? Or Even Anything Useful?
Bank executives frequently proclaim that Wall Street is vital to the nation’s economy and performs socially valuable services by raising capital, providing liquidity to investors, and ensuring that securities are priced accurately so that money flows to where it will be most productive. There’s just one problem: the Wall Street mantra isn’t true.
Read more...Bill Black: Thomas Friedman’s Big Idea for Hillary – Embrace Wall Street and Deregulation
Help us, Tom Friedman is at it again…
Read more...Elizabeth Warren Opens Broad Attack Against Rent-Seeking Oligopolists Like Amazon, Apple, Google, Walmart, Comcast
Curiously, Elizabeth Warren is taking aim at powerful interests that are deeply loyal to Hillary Clinton. The plot thickens.
Read more...MIchael Hudson: The Slow Crash
Michael Hudson discusses some of his favorite themes; debt deflation, the high cost of consumer debt, negative interest rates.
Read more...Bill Black: Mankiw’s Mythical Ten Commandments of Theoclassical Economics
Examining Maniw’s core myths, um, principles, and how they are dangerously misleading.
Read more...Money and Banking – Financial Crises
The mechanics of financial crises and how an economy gets there.
Read more...A Global Marshall Plan for Joblessness?
Time for a Marshall Plan for unemployment: no workfare, no bullshit jobs, no compulsory work, no digging holes. Start with a Green New Deal.
Read more...Where is Amy Klobuchar? How Democratic Indifference is Squandering a Unique Moment on Antitrust Policy
It’s been a good few weeks for opponents of further market concentration. Oil services firms Halliburton and Baker Hughes called off their merger amid a Justice Department lawsuit. New rules on corporate inversions led to an abandonment of the Pfizer-Allergan merger. The White House issued a directive to federal agencies to take steps to foster competition, with an opening salvo of ending the monopoly of cable set-top boxes. The Economist, of all places, started agitating for increased competition amid record corporate profits. The antitrust movement, in short, has gone mainstream.
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