Dirk Bezemer and Michael Hudson: Finance is Not the Economy
Picking apart the conflation of real capital with finance capital and explaining how that confusion undermines sound analysis of the crisis.
Read more...Category Archives: The dismal science
Care Work as the Work of the Future
Economists despair about the impact of technology on jobs. They underestimate the need for care work, as in services for the young and aged.
Read more...Top Marginal Tax Rates and Real Economic Growth, Part 1
This post looks at the relationship between the top marginal income tax bracket and growth in real GDP per capita (from NIPA table 7.1) in the subsequent year or years.
Read more...How the Fed Promoted “Financial Dominance” and Shadow Banking by Promoting Repo
Yves here. This is a very important post, and sadly I’m not providing it with the introduction and commentary it warrants because I am scrambling to get organized to get out of town. By Daniela Gabor is associate professor in economics at the University of the West of England, Bristol. Originally published at the Institute […]
Read more...Central Banks Pushing on Strings Again
More proof that central banks have lost the plot.
Read more...The Strange Fate of Economists’ Interest in Collective Decision-Making
How economists studied collective decision-making after World War II, faced many impossibilities, and lost interest after solving them.
Read more...Austria: A Case Study of How Offshoring Lowered Growth
Austria illustrates that over time, offshoring reduces the skill levels of domestic workers and even organizations.
Read more...Bill Black: Thomas Friedman Wants A “Center-Left” Democratic Party Based on Austrian Economic Myths
Thomas Friedman has managed to outdo himself on the downside.
Read more...Economists Mystified that Negative Interest Rates Aren’t Leading Consumers to Run Out and Spend
It been remarkable to witness the casual way in which central banks have plunged into negative interest rate terrain, based on questionable models. Now that this experiment isn’t working out so well, the response comes troubling close to, “Well, they work in theory, so we just need to do more or wait longer to see […]
Read more...How CEOs Get Paid for Luck
Lackluster growth is everywhere….except in CEOs’ pay packets. Wonder why?
Read more...Emergy (with an “m”) and Environmental Accounting for Maine’s Landfill
Policy implementing the Maine Solid Waste hierarchy should be justified using emergy as the unit of account, and not dollars.
Read more...Why the Crisis in Italy is Not Over
The structural roots of Italy’s economic problems.
Read more...Lousy Experts: Looking Back at the Ex Ante Estimates of the Costs of Brexit
An economist contends that economists do not bear much responsibility for the Brexit vote.
Read more...Shaky State of North-South Relations
North-South, or developed-emerging economy dealings, are becoming more contentious.
Read more...Financialization and its Discontents
Untangling the credit versus money focus in the critiques of financialization.
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