Nassim Nicholas Taleb: How to Own a Slave
In what ways has the employer-employee relationship come to resemble slavery?
Read more...Category Archives: The dismal science
Unfounded Debt Fears Block Economic Recovery
Debt scaremongering as voodoo economics.
Read more...How Brexit Threatens to Turn the UK Into “Borisland”
How the Tories and UKIP intend to use Brexit to impose permanent austerity and reduce workers’ rights.
Read more...Brexit: Pulling the Signal Out of the Noise
Getting a better picture on Brexit: the underlying class and economic stresses and how that might play into what happens next.
Read more...MIchael Hudson: The Slow Crash
Michael Hudson discusses some of his favorite themes; debt deflation, the high cost of consumer debt, negative interest rates.
Read more...The Sterling Depreciation of 2007-2008 and Its Implications for Brexit
The unexpected impact of the fall in sterling in 2007-2008 suggests Brexit could produce a drastic drop in UK living standards.
Read more...IMF Warns That Inequality, Poverty, Low Productivity Growth, Falling Workforce Participation Will Drag on US Growth
The IMF has become an unlikely reporter of unpleasant realities about the US economy, particularly the costs of inequality and distress. If only its prescriptions were better….
Read more...How Financial Crises Produce Political Polarization
Financial crises move the struggles between debtors and creditors into the political sphere.
Read more...Economists are Divided over Brexit
Even those economists that think Brexit is a disastrous idea differ on how severe the downside would be.
Read more...Curbing Monopolies Promotes Growth, Lowers Inequality
More aggressive anti-trust enforcement, not surprisingly, would spur growth and help the poor.
Read more...Unequal Gains: American Growth and Inequality Since 1700
American history suggests that inequality is not driven by some fundamental law of capitalist development, but rather by episodic shifts in five basic forces: demography, education policy, trade competition, financial regulation policy, and labour-saving technological change.
Read more...And Now, Price Deflation in India and China?
Price deflation, and classic debt deflation dynamics, are staring to appear in India and China.
Read more...Location, Location, Location: The Persistence of Fortune
Yves here. This intriguing paper curiously fails to consider how climate change can (will) affect the patterns they describe. And it also fails to give clues as to why some cities keep gaining population and income and others fall by the wayside. For instance, Atlanta and Birmingham, Alabama were of comparable size in the 1970s, […]
Read more...Want to Kill Your Economy? Have MBA Programs Churn Out Takers Not Makers.
How MBAs have become negative value added to everyone but themselves.
Read more...“Finance is Just Another Industry”
A debunkng of the claim that finance is special and should be treated accordingly.
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