Philip Pilkington: Keynes and Loanable Funds
A seldom-noticed book review sheds new light on Keynes’ critique of loanable funds theory.
Read more...Author Archives: Yves Smith
You Are Probably Gonna Be Mad at Me, But….
We are thinking seriously of truncating our RSS feed.
Read more...Links 3/9/14
Yanis Varoufakis: Ukraine – Three Awkward Questions for Western Liberals and a Comment on the EU’s Role
Yves here. This post is useful because the issues Varoufakis raises are orthogonal to most of the discussion in the English language press over Ukraine.
Read more...Joe Firestone: No, Virginia, the Austerity Era Is Not Over
If the President’s budget were enacted by Congress, and OMB’s projections over the next decade hold, it would almost certainly mean economic stagnation punctuated by recession over the next decade. Would it also mean austerity?
Read more...DC Meetup on March 18?
I’ll be in Washington DC on Tuesday, March 18, to speak at the Atlantic Economy Conference. Do local readers want to organize a meet up?
Read more...Links 3/8/14
Bill Moyers and Ian Haney Lopez Discuss the Use of the Race Card in Politics
This Bill Moyers segment provides an in-depth discussion of race. Lopez focuses on how both parties use what he calls the racial dog whistle to mobilize voters.
Read more...Matt Stoller: Big Oil Hooked Americans on Credit Cards
The credit card industry gets short shrift when it comes to history.
Read more...When “Job Creators” Create Lousy Jobs
On the increased reliance on short term, out of state labor.
Read more...Links 3/7/14
Chinese Bond Default Rattles Markets; Harbinger of More Credit Woes?
A corporate bond default should hardly be a headline dominating-event unless the default in question is of a particularly large concern, or is tightly coupled (as in could, Lehman-style, trigger more distress) or is a precursor of things to come.
Read more...J.D. Alt: Forget the 1%
All this talk about the 99% versus the 1%? I say the easiest—and likely the most useful—thing to do is just forget the 1%.
Read more...Neoliberalism Dressing-Down: Australian Senator Ludlam on Prime Minister Tony Abbott
This clip may seem a bit far afield, but we at NC are fans of good examples of rhetoric, particularly since you see them so seldom in the US.
Read more...Tax Havens Make US and Europe Look Poorer than They Are, Exaggerate Size of “Global Imbalances”
Peculiarly, despite the importance of tax havens, a pathbreaking paper published in 2013 by Gabriel Zucman of the Paris School of Economics, The Missing Wealth of Nations: Are Europe and the U.S. Net Debtors or Net Creditors? (hat tip Dikaios Logos) has received perilous little attention. Perhaps that’s because, among other things, it undercuts the Bernanke-flattering claim that “global imbalances” were a major driver of the financial crisis.
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