Category Archives: Macroeconomic policy

Michael Hudson: Review of Steve Keen’s “Can We Avoid Another Financial Crisis?”

Steve Keen’s book is a compact, layperson friendly evisceration of mainstream economics and efforts to defend banks at the expense of citizens.

The Fall of the Latin American Left, Part III: Argentina and the Right Winning Elections

How the Kirchner program in Argentina ran into the buzz saw of currency markets.

Do We Understand the Impact of Artificial Intelligence on Employment?

Artificial intelligence is already transforming the world of work, but the future is hard to predict. Some see most jobs at risk of automatisation, while others argue robots will only take on a narrow range of tasks in the coming decades. Nevertheless, we need a broad debate to prepare the appropriate economic policy response to the new industrial revolution.

The Operation and Demise of the Bretton Woods System: 1958 to 1971

Even though the Bretton Woods system was short lived, legacies like the dollar standard remain and are likely to be with us for some time.

The Fall of the Latin American Left, Part I: Brazil’s Boom and Bust

Discussing why the left in Latin America lost power, starting with Brazil.

The Failure of Austerity in the Great Recession

More evidence that austerity is a bad idea.

Trump’s Idea of Running Government Like a Business is Bad for Citizens

Michael Hudson gives a high level debunking of a pet Republican canard: that government should operate like a business.

The Paradoxes of Fiscal Austerity in Brazil

Brazil as a test case of austerity per neoliberal theory v. outcomes.

Debunking 5 Myths About Frexit

A skeptical look a Frexit, meaning France exiting the Eurozone.

Keynesianism and the Great Recession

Why abandoning Keynesianism in favor of neoliberalism set up the financial crisis and led to inadequate post-crisis responses.

When the IMF Evaluates the IMF

A recap of where the IMF admits that it screwed up. Also points out how the IMF overlooked a core methodology prone to errors and gaming.

Germany-IMF Staredown on Greece: The Election Calculus

How upcoming European elections could play into the Greek debt negotiations.

Zero Interest Rates in EU: The Myth of the Poor German Saver

The ordinary German is much less well off than most foreigners would assume.

Will Trump Administration Let the IMF Escape from the Next Greek Bailout?

The IMF is at odds with the rest of the Troika about whether Greece can shoulder its debts. Will the IMF be forced to fund the next bailout?