The dismal science Archives - Page 57 of 142

Good Booms, Bad Booms: Why Only Some Credit Booms End in a Crisis

Credit booms are not rare and usually precede financial crises. However, some end in a crisis while others do not. This column argues that credit booms start with an increase in productivity, which subsequently falls much faster during ‘bad booms’. When this decline is severe enough, it changes the informational regime in credit markets, leading to a drying up of credit. A crisis may be the result of an exhausted credit boom and not necessarily of a negative productivity shock.

Bill Black: Democrats Need to Give Up Being Deficit Hawks Even When it Feels Good Politically

Why do Democrats act like Republican wannabes with deficit scaremongering? Let us count the reasons: Wall Street, Pete Peterson, hatred of the poor…

The Hidden Health Costs of the Global Financial Crisis

Why the hidden health cost of the financial crisis will span decades.

Misunderstanding the Great Recession

How many of the textbook explanations of the Great Depression were proven wrong, yet despite that, were misapplied to the Great Recession.

Michael Hudson and Chris Hedges: The Real World Cost of Turning Classical Economics Upside Down

Classical economics recognized the costs of rent extraction, excessive borrowing, and encouraging speculation over commerce. Ideologues have turned those lessons on their head.

Assuming Away Unemployment and Trade Deficits from the TPP

It should come as no surprise that the Peterson Institute has managed to model the impact of the TPP so that it does not increase unemployment.

Michael Hudson on Debt Deflation, the Rentier Economy, and the Coming Financial Cold War

Michael Hudson speaks with Justin Ritchie on his favorite topics, such as debt deflation, austerity, classical economists on rentiers, and the coming financial cold war.

Reducing Carbon Emissions Won’t Halt Economic Growth

The big obstacle to reducing carbon emissions isn’t economic costs, but inertia and the impact on powerfully placed special interests.

Negative Interest Rate Conundrum

Why are central banks and governments opting for their unusual negative interest rate stance?

Mirabile Dictu: Lead Story at Bloomberg Gives a Thumbs Up to MMT

Bloomberg gives a fairminded and reasonably detailed report on MMT.

Louis Proyect: Boom Bust Boom

Boom Bust Boom a wickedly funny but mind-expanding analysis of 2008 crisis driven by the proposition that the capitalist system is inherently unstable.