Category Archives: The dismal science

Kanbur/Stiglitz: Rent Seeking as a Major Driver of Wealth and Income Inequality

Yves here. This post is wonky but important. While Stiglitz has written regularly about inequality as problematic from an economic perspective, and has mentioned rent seeking as a contributor, to my knowledge, this is the first time he’s said that old theories need to be tossed and that rent seeking is one of the main factors now driving wealth and income inequality.


Why Bernie Sanders Should Add a Job Guarantee to His Policy Agenda

Bernie has unapologetically rejected sclerotic visions of what is ‘politically possible’.  And now he should add the Job Guarantee to his list of issues.


Greek Debt Sustainability: The Devil is in the Tails

The debate over Greek debt sustainability is muddied by the fact that different analysts use different definitions. But once you use realistic assumptions, as in “tails risks” are actually pretty likely, Greek debt is obviously not “sustainable”.