Greenspan Ran the Fed for 18 Years and Left an Economic Time Bomb
Michael Hudson and Radhika Desai: take a hard look at Greenspan’s misrule at the Fed and find more not to like than you might know about
Read more...Category Archives: The dismal science
Coffee Break: Apathetic Americans, Science Agonistes, and Cool Science
Part the First: Jessica Wildfire on Apathetic Americans. As a paid-up member of the Professional Managerial Class who came from a thoroughly working-class background, I tend to hear and see things differently from most of my colleagues. An enduring theme among them is “They just don’t seem to care…” Not exactly. From Heads Above Water: […]
Read more...Satyajit Das: The ‘Own Goals’ of Trump-onomics
Short seller David Einhorn’s saying, “No matter how bad you think it is, it’s worse” particularly applies to Trump’s economic schemes.
Read more...Good Riddance, Alan Greenspan
Cataloguing some of the less-well recognized ways that Alan Greenspan did tremendous harm to the financial system and citizens at large.
Read more...What Would Happen if the UK Tried to, or Did, Repay Its National Debt?
The leadership contest in the UK is set to produce yet more flogging of bad neoliberal tropes, so this post provides a needed counterpoint.
Read more...Michael Hudson: Debts That Cannot Be Paid Won’t Be
R. C. J. Cranstoun spoke with Michael Hudson on debt, rentierism, and the geopolitical rift around sanctions, energy, and the dollar system
Read more...Coffee Break: The Furies are Coming for US
Today’s Coffee Break on a holiday weekend in the US is the simple recommendation that you go straight to this long essay in Front Porch Republic by W. Aaron Vandiver of Carbondale, Colorado: Trump and the Furies of Empire –– Trump, in his crude way, is forcing us to confront the false stories we have […]
Read more...Why Public Policy’s Core Value Should Be Equality
Humans have a strong, evolution-based desire for fairness and equality, yet they are more and more neglected in policy design.
Read more...Michael Hudson Warns: Imminent Economic Catastrophe – War, Oil Crisis & Bond Market Panic
Michael Hudson explains how the financier-friendly medicine of higher interest rates will only make the impending economic crisis worse.
Read more...Are People Just “Lower-Value Human Capital”?
In case you did not get the memo, human capital is now officially inferior.
Read more...Coffee Break: Scientists and the Growth Economy, Sternly Worded Letters, Scientist Runs Afoul of RFKJr, Timothy Snyder with the Editor of Science, and Wither Food
Dear gentle readers: Apologies for a somewhat ragged Coffee Break today. Traveling in Scotland and time has been taken up with details (all good) along with a few unexpected disconnects (as in stuff happens). Part the First: Scientists to the Rescue? Economic growth is not the answer to any of our problems in this finite […]
Read more...Economic Management in War: Professor Michael Hudson in Discussion with Ian Proud
An informative and wide-ranging conversation of how economic policies can neglect, support, or impede the prosecution of war
Read more...Coffee Break: Alzheimer’s Disease Still a Mystery and Books Worth Reading
Part the First: Anti-amyloid Antibodies and Alzheimer’s Disease (AD). A Cochrane review of monoclonal antibodies targeting amyloid plaques in AD has found that these drugs have little to no effect on cognitive function of AD patients. Cochrane reviews are, to use one of the favorite tropes of the current administration, considered the “gold standard” of […]
Read more...Beyond Oil: The Macroeconomic Impact of Commodity Supply Disturbances
Economists typically ignore the impact of non-oil commodity shocks. They look to be at least as damaging as energy shocks.
Read more...Michael Hudson and Steve Keen: How the Global Crisis Will Unfold
Michael Hudson and Steve Keen: discuss how the Iran war economic crisis will generate inflation first, and then deflation and depression.
Read more...