In People, Power, and Profits: Progressive Capitalism for an Age of Discontent, Joseph Stiglitz proposes ways to overcome forty years of neoliberal rot that have infected our economics and our politics. This country has overcome extreme inequality in the past, and we must do so again now, or our children will face a much […]
People, Power, and Profits: Progressive Capitalism for an Age of Discontent Read More »
I share Joseph Stiglitz’s skepticism regarding the Business Roundtable’s recent endorsement of stakeholder capitalism. Actions will speak louder than words, but don’t bet the farm yet.
Proof in the pudding? Read More »
Conor Lynch of The Week posted an editorial on https://theweek.com/articles/861385/trump-taken-gops-kansas-experiment-national–predictable-results
The Kansas Experiment Read More »
Most elected representatives parrot the bromides of mainstream economists, such as: The national debt is a burden that will crush the economic prospects of our children and grandchildren. The federal government must balance its budget and pay down the debt. The government needs to borrow or tax before it can spend. If unemployment gets too
Simple Questions Your Congressperson Cannot Answer Read More »
The Trump administration must think that Orwell’s 1984 was meant as a handbook for governing. (Not that Trump himself would have ever read a book with that many pages and so many big words.) Christian Weller of Forbes highlights some of the administration’s hype and lies with regard to the economy.
Don’t Believe the Hype Read More »
David Lazarus of the L.A. Times reminds us that trickle-down economics is a lie. Turns out Thatcher and Reagan got it totally backwards. Countless others haven’t figured it out 40 years later. Noteworthy quote: “compensation for American chief executives increased by 940% from 1978 to 2018, while pay for the average worker rose by a
News flash: Trickle-down economics is a lie! Read More »
The New Yorker profiles Stephanie Kelton and MMT.
The New Yorker profiles Stephanie Kelton and MMT Read More »
… is to own one. Some bankers want to roll back measures, taken after the Great Financial Crisis, intended to prevent future bank failures in case of a major economic downturn. Not that any of those bankers are concerned – they won’t feel any pain when things crash. They want to put things back the
The best way to rob a bank … Read More »
Robert Kuttner provides an excellent analysis of neoliberalism and the social destruction it has wrought over the last half century. I am distantly related to the Olin whose foundation is mentioned in the article, but I share few if any political and economic viewpoints with my cousin.
Neoliberalism: Political Success, Economic Failure Read More »
Joe Stiglitz calls BS on Trump’s imagined economic genius.
Stiglitz: Trump’s mismanagement of the economy is monumental Read More »
Barron’s published this article about the imminent Debtageddon. Here’s a message I sent to the author: Mr. Forsyth, I read your article “Trump’s Budget Deal Shows Deficits Don’t Matter Anymore”. Others more qualified than I might rebut this article to some extent or other, but from my amateur perspective, you clearly misstated or misunderstand some
The bond vigilantes are coming! (Or not.) Read More »
Treasury Secretary Steve Mnuchin says the federal government is in danger of running out of money this fall. The U.S. government, being monetarily sovereign, can never run out of money. The only reason it might default is because it chooses to. It is not because it’s out of money.
The U.S. government cannot run out of money Read More »
James K. Galbraith reviews three books on the future of capitalism.
On the future of capitalism Read More »
Diane Coyle on “How the Market Is Betraying Advanced Economies“. Notable quote: “In the United States, the Economic Report of the President touts the supposed elimination of poverty, but life expectancy does not decline in a prosperous country.”
The Market Is Betraying Advanced Economies Read More »
Yanis Varoufakis on Stagnant Capitalism. Notable quotes: “What is remarkable is how unaffected free marketeers are by the facts.” “Capitalism has only one natural tendency: stagnation.”
Just the facts, man! Read More »
In Saving Capitalism, author Robert Reich explores the myth of the “free market” and shows how it has been shaped by the wealthy and powerful to benefit themselves and increase income and wealth inequality. What we think of as the “market” is defined by the many rules governing property rights, corporations, bankruptcy, patents and trademarks,
Saving Capitalism: For the Many, Not the Few Read More »
This is a fairly long read, but it makes crystal clear that the neoliberal economic mythology that has been destroying lives for decades is so much BS. Read it and learn. Highly recommended.
There is no such thing as (federal) taxpayer money! Read More »