Category Archives: The dismal science

Jamie Galbraith: How Jason Furman and Lawrence Summers Reinforce a Destructive, Debunked Mainstream Paradigm to Support Deficit Spending

To defend deficits, Furman and Summers relied on debunked theories, thus preserving destructive mainstream economic ideas.

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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.

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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.

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