Crash Landing? Part 1 – Bonfire of the Banks
Satyajit Das looks at how banks got themselves into so much trouble and what the recent bailouts portend.
Read more...Category Archives: The dismal science
How Monetary Policy Affects Bank Lending and Financial Stability: A ‘Credit Creation Theory of Banking’ Explanation
Another nail in “loanable funds”, which justfies austerity but does not explain how central banks produce credit and monetary growht.
Read more...Escape from Muddle Land
Peter Dorman files a report from radical subjectivity land so you don’t have to go there.
Read more...Ayn Rand vs. Elinor Ostrom: The Fight for the Future of Social Media
Contrasting ideologies at play about the structure and role of social media mirror the conflicting ideologies in economics.
Read more...How Does JK Galbraith’s The New Industrial State Hold Up After 6 Decades?
How John Galbraith correctly called many developments that have had great political and economic significance, like the decline of unions
Read more...What If the World Cannot Save the World from Climate Change?
How climate change reveals a crisis of international governance.
Read more...New York Fed Identifies a New Way Dollar Hegemony Is Not Good for Emerging Economies and Other Growing Things
Another mechanism by which US does harm through our indifference to to the impact of our dollar/interest rate policies on other countries.
Read more...Can the Phillips Curve Explain Recent Wage Growth?
Contrary to what many have claimed, wage growth in the fourth quarter of 2022 was actually in line with what a standard Phillips curve model predicts.
Read more...The Original Sin of Economics
How a bleak Christian theology influenced the development of economics.
Read more...An Inconvenient Apocalypse
Authors Jackson and Jensen argue that we need an acopalypse, as in a full recognition of conditions, to make radical envirnmental changes.
Read more...Slavery and the British Industrial Revolution
An update on the debate on the role of slavery in Britain’s growth during the Industial Revolution.
Read more...Understanding Money and the Dollar System: Radhika Desai & Michael Hudson at Geopolitical Hour
Michael Hudson and Radhika Desai discuss the dollar regime and its prospects.
Read more...The Gold Standard
A primer on the gold standard, including a discussion of its implications.
Read more...The Economics of the Ukraine Proxy War with Michael Hudson and Radhika Desai
A meaty discussion of the broader implications of the war in Ukraine.
Read more...James Galbraith: The Quasi-Inflation of 2021-2022 – A Case of Bad Analysis and Worse Response
Galbraith explains why conventional views of inflation are a particularly poor fit for recent price increases and produced bad policy
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