James Galbraith: Wage Stagnation and Populism – A Comment on David Brooks and Noah Smith
David Brooks and Noah Smith defend neoliberal globalization by trying to ‘splain decades of worker wage stagnation.
Read more...Category Archives: The dismal science
When Illusions of Wealth Shape the Economy: Understanding Pseudo-Wealth, Macroeconomic Volatility, and Social Welfare
Why pseudo-wealth like crypto is detrimental to social welfare, as in the collective good.
Read more...Michael Hudson Discusses How Religions Opposed Usury, the Catholic Church “Interest” Rebranding, and More on the Evolution of Financial Rentierism
On the long-standing religious and ethical proscriptions against usury, and how and why the Catholic Church rebranded it as interest.
Read more...Distributional and Macroeconomic Effects of Trump 2.0: The Rich Get Richer and the Poor Get Poorer
The likely outcome of Trump policies are a recession, a rise in inequality, and a further fall in living standards of working and middle-class Americans
Read more...Complacency, Denialism and the Risk of an Economic Trumpocalypse
Why the downside to Trump economic policies are far greater than the press and pundit class are willing to acknowledge.
Read more...Satyajit Das: The Unravelling – Part 1: Economic & Financial Furies
Why the Trump-induced economic and financial train wrecks will be more severe than most pundits seem to anticipate.
Read more...Michael Hudson and Yanis Varoufakis with Ann Pettifor on Economic and Political Paradigm Changes
The formidable trio of Michael Hudson, Yanis Varoufakis, and Ann Pettifor assess the rapid changes in our economic system.
Read more...Keynesian Militarism or Wishful Thinking?
European NATO members hope Keynes’ magic will make their newly adopted militarism feasible. A sanity check.
Read more...Trade in the Time of Trump
Trump promised in 2016 and 2024 to undo deindustrialization from globalization and free trade, with tariffs as his main tool. Can it work?
Read more...Trump’s Additional 50% Tariff Against China and China’s Tit for Tat Retaliation: Trump Own-Goals Himself Into Where China Would Want Him
Some further thoughts on the radical US-destructiveness of the Trump tariff regime.
Read more...Trump Thinks Tariffs Can Bring Back the Glory Days of US Manufacturing. Here’s Why He’s Wrong
More on the false premise that Trump can restore the US as a manufacturing powerhouse.
Read more...Trump’s Non-Cooperative Game
Game theorists do not take a kind view of how Trump is going about things.
Read more...Another Trump Big Lie: “Reciprocal Tariffs”
Further discussion of the delustions and misrepresentations of the Trump tariffs.
Read more...Bracing for the Fallout from Trump Tariff Delusions
Trump is about to drop another big tariff shoe, and pretty much no one but very hard core ideologues is on board.
Read more...The Perceived Costs of Business Cycles and Inflation
Quelle surprise! People really hate the uncertainty that comes with business cycles. This bodes ill for the Trump regime.
Read more...