Richard Vague extends his work on the dangers of private debt via his new book, A Brief History of Doom, on the role of debt in financial crises.
Read more...Why a widely-held view about productivity that is foundational to the claim that people are paid what they deserve does not hold up to scrutiny.
Read more...The goal of any serious climate policy is to keep oil and other fossil fuels in the ground. The central question is how.
Read more...An new working paper by Sebastian Horn, Carmen Reinhart and Christoph Trebesch on China’s foreign lending has some important findings, such as that China accounts for more than 40% of the external debt of 50 developing countries. We’ve embedded the document at the end of this post. The study is an ambitious undertaking, seeking to […]
Read more...In a 1946 classic, New York Fed chairman Beardsley Ruml explains why taxes aren’t necessary for Federal spending and argues against corporate income taxes.
Read more...Awfully late in the game, industrial policy gets the recognition it deserves.
Read more...If you hold mainstream economic views, it was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.
Read more...Michael Hudson explains how the IMF and World Bank support US hegemony.
Read more...Why stories from “value creators” should be taken with a fistful of salt.
Read more...How William Lazonick persuaded pols and pundits that the shareholder value theory was bad for business and society.
Read more...Quelle surprise! Occupational decline, aka “The robots ate my career,” lowers lifetime earnings, particulalry for low-wage workers.
Read more...As they so often do, by promoting unrealisitc models, economists have become part of problem rather than the solution.
Read more...Environmentalists and even some economists question the relentless pursuit of GDP growth. But where did the idea come from?
Read more...In popular imagination, Smith’s invisible hand has become so strongly associated with Friedman’s openly conservative economic agenda that people often take for granted that is what Smith meant.
Read more...Econimists have noticed, awfully late in the game, that high levels of inequality are correlated with lower growth. There are reasons to think this relationship is causal.
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