Economic Myths: Homo Economicus
Richard Murphy is starting to take part bad economic idea. This series may wind up having no ending.
Read more...Category Archives: The dismal science
Economic Justice, Desert, and Capitalism (Again)
Ironically, or maybe not, popular ideas and even those of economists about economic justice are at odds with ownership of capital.
Read more...The J K Galbraith Question: The Tyranny of Private Consumption
Can advanced economies free themselves of the pathology that John Kenneth Galbraith warned about, of excessive consumption?
Read more...The Milton Friedman Question
A critical look at the anarcho-libertarian (per his son) propagandist Milton Friedman.
Read more...Politics, Government, and Science During Pandemic Times
When asked in early 2000 how long I thought COVID-19 would last, I answered three years. Alas, it has now been nearly six years since a frightening respiratory disease was first noticed in Hubei Province centered in Wuhan. Retrospective analyses indicate the virus was already circulating in other parts of the world. It soon became […]
Read more...The Karl Marx Question
Karl Marx has aged well. What happens if you take his analysis seriously?
Read more...Michael Hudson: Who Writes the New Rules as Power Shifts Away from the US?
Michael Hudson discusses many of the responses to the US loss of economic dominance, from Europe’s self-immolation to China’s lending.
Read more...Milton Friedman: From Modern Monetary Theory to Monetarism
How Milton Friedman was an advocate of functional finance, the precursor to Monetary Monetary Theory before he wasn’t.
Read more...Liberalism as a Way of Life in the Twenty-first Century?
We have previously discussed what the Ancients can teach us. As it turns out, they can teach us much. But things get more dire by the day. Anyone and everyone can make a list of our pathologies. A week of reading the news shows us that as a polity, society, and culture we are in […]
Read more...Tariffs and US Dollar Depreciations: Not So Surprising After All
How conventional thinking on how the dollar would respond to Trump tariffs missed a key factor: retaliation.
Read more...James Galbraith: Crash in Top Economist Hiring Contradicts Elite-Favoring “Skill Biased Technical Change” Theory
Contrary to some economists’models, salaries aren’t constantly reset based on skills or technology. They follow the economy and politics.
Read more...Neoliberalism Is Not a Viable Option
How neoliberalism contributes to the growth of fascism.
Read more...The Core Problem of Economic Inequality: How Much Is Too Much?
Experts accept that economic ineqality is inevitable. But how does one determine acceptable/producitve levels versus destabilitzing ones?
Read more...New Study Attempts to Candy-Coat Impact of Job Loss
A reader critical thinking exercise! Time to take a hard look at a study that argues that losing your job may not be all that terrible.
Read more...James Galbraith: From the Fossil-Fuel Civilization Into …? Economics Gets a Biophysical Reality Check
James Galbraith argues that economics can’t keep ignoring that energy and resources for production are no longer abundant and easy to access
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