Beating the Tax Gap
The UK focuses on the tax gap, how much tax it ought to be collecting versus what it gets. Why isn’t this a concern in the US?
Read more...Category Archives: Economic fundamentals
Michael Hudson: The Lehman 10th Anniversary Spin as a Teachable Moment
Why you should take conventional wisdom about the Lehman collapse and the crisis with a fistful of salt.
Read more...J.D. Alt: Paying for Hurricanes
A reminder that the budgetary “paying for things” framing is a way to deny resources to citizens.
Read more...Why Central Banks Should Not Be Inflation Nutters
Central banks need to stop fighting the last war.
Read more...Double Whammy: Implicit Subsidies and the Great Financial Crisis
Follow the subsidies, and you will understand why we had the crisis and why not enough has been done to prevent a recurrence.
Read more...Census Bureau Reveals Grim Facts about Real Earnings of Men
A look at real earnings data belies happy talk about wage gains.
Read more...The Economy Under Trump: Business Optimism Combined with Inequality
Gerald Epstein dissects the Trump Administration happy talk about the state of the economy.
Read more...Pigs Want To Feed at the Trough Again: Bernanke, Geithner and Paulson Use Crisis Anniversary to Ask for More Bailout Powers
The chief architects of the exercise in looting otherwise known as the post-crisis rescues are back promoting more of the same.
Read more...Marshall Auerback: Central Bankers as ‘Dealers of Last Resort’
In their 21st-century role as counterparty/dealer/insurer of last resort, central bankers must not simply use their balance sheets indiscriminately to provide a liquidity backstop during the downturns. They must embrace this counterparty role as an umpire, rather than an enabler.
Read more...Why We Should Worry About Monopsony
Why the Fed is, rather late in the game, concerned about monopsony power.
Read more...Why Transforming the Economy Begins and Ends with Cooperation
Co-ops can and do create more cooperation, which in turn can reform capitalism.
Read more...The “Petrodollar” Has No Bearing on Any Country’s Ability to Employ Its People Fully
Debunking the petrodollar myth.
Read more...Market Power, Low Productivity, and Lagging Wages: The Real Drivers
To understand labor productivity—and growing inequality—you have to look at the “dual economy”
Read more...Lump-of-Labor Fallacy: The Nastiest Motives of Nasty People
Why the lump-of-labor fallacy is bad for workers and for economics.
Read more...Yanis Varoufakis: Greece Was Never Bailed Out and Remains in Debtor’s Prison – Bild Zeitung Interview
Yanis Varoufakis revisits the Greece 2015 debt negotiations and describes how Greece still wears the austerity yoke.
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