Yanis Varoufakis: Who Needs Marx in 2025?
To free ourselves from our technofeudal overlords, we must think like Karl Marx.
Read more...Category Archives: The dismal science
Trump’s Self-Destructive Fight with the Fed for Low Interest Rates: His “Fiscal Dominance” Game of Chicken
Trump is fighting another war he can’t win: trying to use interest rates to counter the inflation created by his yawning fiscal deficits.
Read more...Why UK [and US] Governments Are Never Dependent on Financial Markets
As Mr. Market idelivers a big raspberry in response to Trump’s big beautiful bill, remember it won’t affect the ability to keep spending
Read more...How Global Value Chains, Much Hyped by Development Experts, Slowed Growth and Preserved Inequality in Middle Income Countries
Tackling a pro-multinational development canard which looks to have made the so-called middle income trap worse.
Read more...Trust in Science, Public Health, and Politics: Lessons from COVID-19
Shortly after COVID-19 was recognized as a worldwide catastrophe, my much better half asked me how long I thought this would this last. Based on my then 45 years of biomedical research experience I replied, “Three years.” I was wrong. That was more than five years ago, when the refrigerated makeshift morgues were parked on […]
Read more...Michael Hudson: The U.S. Empire’s Plan for Global Domination
Michael Hudson: War on Iran is part of the US empire’s effort to re-impose its dominance on the global political and financial system
Read more...Financial Times on Coming Climate-Change-Driven Meltdown in Real Estate: Gradually, Then Suddenly?
A detailed, yet still softball, take on how climate change damage will wreck property values and much of what passes for an economy
Read more...Downgrading Uncle Sam, Not America
An orthodox economist describes inconsistencies in rating agencies’ approach to downgrading US debt and their view of reserve currency status
Read more...Coffee Break: Healthcare and the State of Science, Plus Baseball and Abundance
Part the First. How Did the United States Get This Healthcare System? I distinctly remember the first time this question occurred to me, because as the child of a union household a visit to the doctor or the Emergency Room (trees were made to fall out of) was never a problem. I was twenty years […]
Read more...What’s Next for Capitalism — Reinvention or Authoritarian Rule?
In Capitalism and Its Critics, John Cassidy presents historical foes of monopoly, inequality, environmental peril, and authoritarianism
Read more...The Economic Consequences of the Second Trump Administration: A Preliminary Assessment
An overview of the economic impact of Trump’s second term flurry from some Serious Economists. They don’t find much to like.
Read more...The Ancients: What Can They Teach Us About Our World and How to Live in It?
I recently added a new volume to my Shelf of Little Books, some of which are not so little but all of which repay re-reading that helps me understand our world a little better with each successive encounter. The newest resident of the shelf was published earlier this year by Princeton University Press: Following Nature’s […]
Read more...Yanis Varoufakis: The Economics of Europe’s Descent into Warmongering
The long path that has led Europe to see big defense spending will be a lifeline, hence the need to stoke war fever.
Read more...“Is All Economic Growth Good?”
It can’t be said too often: what most economists call growth is too often what we here call groaf.
Read more...The 2025 Trade War: Dynamic Impacts Across US States and the Global Economy
Estimating the costs of the Trump trade war to Americans and foreign players.
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