Tag: The dismal science

Who Is Really A Socialist?

Yves here. Although this post does a very helpful job of parsing out the critical ideas that travelers under the “socialist” banner may hold, a shortcoming is how Rosser treats the idea of “ownership” of production. The original Marxist construct developed when businessmen owned mills and workshops directly, as in they owned productive assets. This […]

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How Neoliberalism Is Normalising Hostility

Yves here. Even though this post paints with very bright colors, I imagine most readers will agree with the argument it makes about the destructive social impact of neoliberalism. Some additional points to consider: Neoliberalism puts markets above all else. In this paradigm, you are supposed to uproot yourself if work dries up where you […]

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Servaas Storm: The Bogus Paper That Gutted Workers’ Rights

By Servaas Storm, Senior Lecturer of Economics, Delft University of Technology, an economist who works on macroeconomics, technological progress, income distribution, economic growth, finance, development and structural change, and climate change. Originally published at The Institute for New Economic Thinking website For years, governments in India and much of the developing world have followed the advice […]

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The Natural Rate of Interest Is Anything But

By Enrico Sergio Levrero, Associate Professor of Economics, Roma Tre University. Originally published at the Institute for New Economic Thinking website In contrast to Keynes’s emphasis on the monetary nature of interest rates, the modern theory of central banking focuses on a benchmark rate for monetary policy that reflect “fundamental forces” supposedly unaffected by monetary […]

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Two Top US Green Party Economic Advisors Regularly Troll Non-Professional MMT Activists (And Believe That Bankers Rule The World)

By Jeff Epstein, @citizensmediatv on Twitter Copy edited by Ben Szioli (Here is a very abbreviated version of this article in tweet-form.) Two of the top economic advisors for the National US Green Party, Howard Switzer and Joe Bongiovanni, just released a thirty seven minute video dedicated to tearing down the macroeconomic school of thought […]

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MMT’s Opening

By J. D. Alt, author of The Architect Who Couldn’t Sing, available at Amazon.com or iBooks. Originally published at www.realprogressivesusa.com I recently read in the WSJ that Modern Monetary Theory is defined as the proposition that the federal government can borrow as much money as it needs so long as the interest rate it pays […]

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Journey into a Libertarian Future: Response to Reader Comments

This post was first published on December 12, 2011 By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience. Many readers wrote in warm […]

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Joining a Group Makes Us Nastier to Outsiders

By Michal Bauer, Associate Professor of Economics, CERGE-EI and Charles University; Jana Cahlíková, Senior Research Fellow, Max Planck Institute for Tax Law and Public Finance; Dagmara Celik Katreniak, Assistant Professor, National Research University Higher School of Economics, Moscow; Julie Chytilová, Associate Professor of Economics, Charles University; Researcher, CERGE-EI; Lubomír Cingl, Assistant Professor, University of Economics, […]

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Journey into a Libertarian Future: Part VI – Certainty

This post was first published on December 6, 2018 By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience. Simulposted at The Distributist Review […]

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Piketty’s World Inequality Review: A Critical Analysis

Yves here. It’s surprising to see Piketty and even more so, one of this co-authors, Gabriel Zucman, make such strong claims for tax data as a way to measure income inequality. The rich and super rich engage in tax avoidance and evasion, to the degree that Zucman has estimated that 6% of the world’s wealth […]

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Journey into a Libertarian Future: Part V – Dark Realities

This post was first published on December 5, 2011 By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience. Simulposted at The Distributist Review […]

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Journey into a Libertarian Future: Part IV – The Journey into a Libertarian Past

This post was first published on December 2, 2011 By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience. Simulposted at The Distributist Review […]

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Journey into a Libertarian Future: Part III – Regulation

Lambert here: Andrew’s dead-pan voice and genre-bending technique seem to perplexed some readers. “Journey into a Libertarian Future” is not a genuine interview, although it is cast in the form of an interview. The interviewee, “Code Name Cain,” is fictional, but also a proxy for the libertarian thought leader, Hans Hoppe, whose words Andrew “puts […]

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Neoliberalism as Structure and Ideology

Yves here. While Dorman offers an interesting theory as to how neoliberalism gained traction, I don’t see it as explaining as much as Dorman thinks it does. His discussion does not acknowledge that a well-funded effort to turn the country right was underway well before the severe recession of the early-mid 1970s. The key players […]

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“Summer” Rerun: Journey into a Libertarian Future: Part II – The Strategy

This post first appeared on November 30, 2011 By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience. Simulposted at The Distributist Review This […]

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“Summer” Rerun: Journey into a Libertarian Future: Part I –The Vision

Yves here. In some summers past, we’ve rerun NC classics during slow news periods. We haven’t had slow news period in a while, and one side effect is that we haven’t yet reprised this series on libertarianism, which will run this week and into next week. Enjoy! This post first appeared on November 29, 2011 […]

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Michael Hudson: The Vocabulary of Economic Deception

Originally published at Michael Hudson’s website This is Guns and Butter, October 8, 2018. The aim of classical economics was to tax unearned income, not wages and profits. The tax burden was to fall on the landlord class first and foremost, then on monopolists and bankers. The result was to be a circular flow in […]

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The Inconvenient Truth about Climate Change and the Economy

By Gregor Semieniuk, Lecturer in Economics, SOAS, University of London and Associate Research Faculty, Science Policy Unit (SPRU), University of Sussex; Lance Taylor, Arnhold Professor of International Cooperation and Development, New School for Social Research; and Armon Rezai, Assistant Professor, Environmental Economics, Vienna University of Economics and Business. Originally published at the Institute for New […]

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