Category Archives: The dismal science

Michael Hudson: Marxism, Economic Parasites, and Debt Cancellation

Michael Hudson in a bracing talk, including history of crises, the role of debt, and how ancient Greek and Roman law promoted inequality

Inflation and Power

Why the Fed’s approach to inflation has the main effect of reducing labor bargaining power, which is seldom the real problem.

Economic Solutions: How To Go from Financialized Neoliberalism to a Productive, Sustainable Economy

Some concrete proposals for how to slip the yoke of neoliberalism and start building a fairer and more functional economy.

Will We Follow China and Suffer Deflation – Which Is Very Much Worse Than Inflation?

Central bankers fret about inflation, but the far more destructive deflation may become a treat.

Rob Urie: Imperialism, Lenin, and US Wars Abroad

Why Lenin was right.

CBO and CMS Continue to Overestimate Health Care Cost Increases, Creating Unjustified Pressure to Cut Benefits

The CBO and CMS, keep overestimating health cost increase, and at least for the CBO, it’s due to neoliberal fealty.

Some Economic Effects of the Ongoing Covid Pandemic

A quick march through economic data and thinking about the Covid pandemic.

Why Does Russia Produce More Ammunition Than the US?

Russian industrial performance serves as a point of departure for Richard Wolff and Michael Hudson to discuss the shortcomings of capitalism.

The Debt Explosion: How Neoliberalism Fuels Debt Crises

Radhika Desai and Michael Husdon provide a data-driven discussion of the inflating and detonation of debt bombs during the neoliberal era.

Unhappy New Year: How Austerity is Making a Comeback in Berlin and Brussels

How EU states are still trapped in their self-devised austerity hairshirt.

American Household Debt: A Reappraisal

An attempt to correct the “blame the poors” approach to the reality and systemic risk posed by debt among lower-income borrowers.

Rarely in the Field of Human Endeavour Has One Rather Small Profession Caused So Much Harm to Humankind as Neoclassical Economists Do Now

Not enough bad can be said about neoclassical economics. The focus today is inflation policy.

From the Great Divergence to South-South Divergence

A discussion of the need to replace the Great Divergence framework illustrates how economists often cling to outdated ideas.

Michael Hudson: Neoliberalism, Industrial Capitalism, and the Rise of Debt

Michael Hudson reprises favorite themes, particularly the role of rentiers and debt dynamics, with some new tidbits.