Want to Kill Your Economy? Have MBA Programs Churn Out Takers Not Makers.
How MBAs have become negative value added to everyone but themselves.
Read more...Category Archives: The dismal science
“Finance is Just Another Industry”
A debunkng of the claim that finance is special and should be treated accordingly.
Read more...Hensarling’s “Market Regulation” Replacement to Dodd Frank Proves He Does Not Understand Banking
Yves here. Steve Waldman wrote a definitive post in 2009, Capital can’t be measured, on a core issue that Black discusses here. A key section: So, for large complex financials, capital cannot be measured precisely enough to distinguish conservatively solvent from insolvent banks, and capital positions are always optimistically padded. Given these facts, and I […]
Read more...Can Philosophy Stop Bankers From Stealing?
How can bankers be persuaded or coerced into behaving better?
Read more...Debate: Is “Degrowth” the Way to Reduce Greenhouse Gases?
A debate on sustainable growth versus degrowth.
Read more...Steve Keen: Zombie-to-Be Economies and the Walking Dead of Debt Include China, South Korea, Canada, Finland
Steve Keen’s macroeconomic model allows him to identify zombies-in-the-making. It’s not pretty.
Read more...The Abandonment of Countercyclical Fiscal Policy
Economists bemoan the lack of aggressive fiscal spending after the crisis. Funny how few of them were willing to advocate it when it mattered.
Read more...Investment Case Study: Some Oxford Dons Take Skeptical Look at Yale and Canadian Investment Fads, Um, Models
Believe it or not, a case study on major approaches to investing that is both informative and fun to read.
Read more...Michael Pettis: China – How Much Investment is Optimal?
If China’s very low level of social capital has long ago made its investment strategy obsolete, that suggests that China has overinvested beyond its capacity to utilize these investments economically. Thus there are hidden losses on bank balance sheets created by the failure to write down physical capital to its true value. In this case Chinese growth cannot help but drop significantly as these losses are finally recognized and as investment levels are sharply curtailed.
Read more...Hoisted From Comments: Neoliberalism Tearing Societies Apart
The true destructiveness of neoliberalism is becoming more and more apparent.
Read more...New IMF Paper Challenges Neoliberal Orthodoxy
A new IMF paper takes on some neoliberal sacred cows.
Read more...Philip Mirowski: This is Water, or Is It the Neoliberal Thought Collective?
The history, internal contradictions, and frequent mischaracterization of the nature and operation of neoliberal ideology.
Read more...Free Trade in Rhetoric, Not in Practice
The gap between the posturing and practice of free trade.
Read more...Helicopter Money: The Illusion of a Free Lunch
Does helicopter money come with a hidden price tag?
Read more...Neoliberalism’s Press Gangs: How Markets Raise Costs
Neliberalim’s press gangs – forcing citizens to participate in capitalism when even it produces worse outcomes than public ownership would.
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