Milton Friedman: From Modern Monetary Theory to Monetarism
How Milton Friedman was an advocate of functional finance, the precursor to Monetary Monetary Theory before he wasn’t.
Read more...Category Archives: The dismal science
Liberalism as a Way of Life in the Twenty-first Century?
We have previously discussed what the Ancients can teach us. As it turns out, they can teach us much. But things get more dire by the day. Anyone and everyone can make a list of our pathologies. A week of reading the news shows us that as a polity, society, and culture we are in […]
Read more...Tariffs and US Dollar Depreciations: Not So Surprising After All
How conventional thinking on how the dollar would respond to Trump tariffs missed a key factor: retaliation.
Read more...James Galbraith: Crash in Top Economist Hiring Contradicts Elite-Favoring “Skill Biased Technical Change” Theory
Contrary to some economists’models, salaries aren’t constantly reset based on skills or technology. They follow the economy and politics.
Read more...Neoliberalism Is Not a Viable Option
How neoliberalism contributes to the growth of fascism.
Read more...The Core Problem of Economic Inequality: How Much Is Too Much?
Experts accept that economic ineqality is inevitable. But how does one determine acceptable/producitve levels versus destabilitzing ones?
Read more...New Study Attempts to Candy-Coat Impact of Job Loss
A reader critical thinking exercise! Time to take a hard look at a study that argues that losing your job may not be all that terrible.
Read more...James Galbraith: From the Fossil-Fuel Civilization Into …? Economics Gets a Biophysical Reality Check
James Galbraith argues that economics can’t keep ignoring that energy and resources for production are no longer abundant and easy to access
Read more...Economists Wake Up to West’s Trade and Technology Dependence on China
Useful data on and discussion of China’s dominance of inputs and technologies essential to the West.
Read more...Michael Hudson: From Babylon to Wall Street – How Bankers Make You Poor
A wide-ranging historical discussion with Michael Hudson, tracing the destructive rise the power of lenders from ancient times to today.
Read more...Will Voters Turn to Corbyn and Socialism over Starmer’s Big Finance Love-In?
A discussion of whether voters would back Corbyn-style socialism, particularly given Starmer’s ever-rightwards shift.
Read more...“How Much Longer Can We Trust Our Economic Statistics?”
Trump budget whackage will further degrade the quality of official statistics. And that really does matter.
Read more...Why Inflation Sticks Around: The Role of Class Warfare in Price Persistence
A new twist on inflation: how workers and corporates trying to preserve their financial position has the effect of perpetuating inflation
Read more...Chinese Government Tries to Combat Destructive Deflation. Will It Succeed?
The economic hazard of deflation is already stalking China, to the degree that even Xi is trying to take it on.
Read more...Yanis Varoufakis: Who Needs Marx in 2025?
To free ourselves from our technofeudal overlords, we must think like Karl Marx.
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