Demonizing Socialism and “Macroeconomic Populism”: Myths of Soft Budget Constraints
Some econmists have criticized industrial policy as zombie-crearting “macroeconomic populism.” Evidence indicates otherwise.
Read more...Category Archives: The dismal science
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.
Read more...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.
Read more...Michael Hudson: Debt, Land and Money, From Polanyi to the New Economic Archaeology
Tracing key influences on Karl Polanyi as welll as some of his important initiatives after The Great Transformation.
Read more...Steve Keen: Eulogy to David Graeber
A personal remembrance of the scholar and activist David Graeber.
Read more...Journey into a Libertarian Future: Part IV – The Journey into a Libertarian Past
The libertarian justification of hierarchies and expropriation of land.
Read more...The Wealth of Corporations: Why Firms Have Zero Net Worth, and Why It Matters
A theory of net worth and what that means for measurements of wealth.
Read more...Koch Influence Taints New Tufts-Based Think Thank: The Tentacles of the Mercatus Center
A timely reminder that despite the raging pandemic, Koch interests keep up their efforts to influence politics and academia.
Read more...Something Remarkable Just Happened This August: How the Pandemic Has Sped Up the Passage to Postcapitalism
Yanis Varioufakis discusses the emerging shape of postcapitalism.
Read more...Fed Economists Finger Monopoly Concentration as Underlying Driver of Neoliberal Economic Restructuring; Barry Lynn in Harpers and Fortnite Lawsuit Put Hot Light on Tech Monopoly Power
Some good work on monopoly is marred by the bizarre inclusion of Uber. Its predatory pricing is the result of deep pockets and ideology, not potential market power.
Read more...“Savings Glut” Fables and International Trade Theory: An Autopsy
Debunking Bernanke’s pet excuse for the global financial crisis, the savings glut hypothesis, which of course exculpates the Fed.
Read more...Remembering John Weeks
John Weeks was a leading critic of economic orthodoxy who dedicated his life to building a better world.
Read more...Marketing Is the Original Behavioral Economics
Showing that behavioral economics is just marketing wine in new bottles.
Read more...Introducing *An Economic Program for American Democracy*
A 1938 economic manifesto makes modern day schemes look inadequate and unimaginative.
Read more...The European Union’s Fateful Choices for Recovery – An Italian Perspective
To fight COVID-19, the European Union must recognize that spending restraints have to go.
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