Another sign of the failure of mainstream economics (one among an ever-increasing number) is the proliferation of new schools of monetary theory in the economics blogosphere. A recent article in the Economist highlights three such theories: Neo-Chartalism (or Modern Monetary Theory), Market Monetarism (sometimes referred to as Quasi Monetarism), and Austrian economics. What’s interesting is [...]
Archive for December, 2011
Money makes the world go ’round
Posted: 31 December 2011 in UncategorizedTags: capitalism, crisis, economics, money, neoclassical
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Back to the future
Posted: 31 December 2011 in UncategorizedTags: capitalism, economics, neoclassical, Occupy Wall Street, strikes, workers
Today, as we celebrate the passing of the old and the ushering in of the new, we have to recognize that while we can’t repair the past we can certainly figure out how to create a different future. The key question, as always: what is to be done? Francis Fukuyama makes a hash of it [...]
Cartoons of the year
Posted: 31 December 2011 in UncategorizedTags: cartoon, crisis, debt, Egypt, Europe, inequality, Libya, Obama, Occupy Wall Street
Cartoon of the day
Posted: 30 December 2011 in UncategorizedTags: cartoon, Occupy Wall Street, politics, Republicans, United States, workers
Special mention
Cartoon of the day
Posted: 29 December 2011 in UncategorizedTags: cartoon, politics, Republicans, United States, workers
Special mention
Utopian market populism
Posted: 28 December 2011 in UncategorizedTags: left-wing, markets, politics, right-wing, United States, utopia
One of the strangest aspects of the Second Great Depression has been the rise of right-wing market populism. The question is, why, after an economic crash caused the policies inspired by free-market fundamentalism, was populist anger captured by the Right and not the Left? Thomas Frank, just as he did in his bestselling book What’s [...]
“Trash the system or crash the planet”
Posted: 28 December 2011 in UncategorizedTags: capitalism, environment, noncapitalism
Political decisions are easy when everyone gains. Real politics starts when there are tradeoffs or conflicts, when some will be helped and others will be hurt by a proposed policy. That’s the lesson I learned from a young Democratic activist and thinker many years ago. And it’s the lesson of Naomi Klein’s recent essay on [...]
Out with the old, in with the new
Posted: 28 December 2011 in UncategorizedTags: capitalism, noncapitalism, Occupy Wall Street
source [ht: ra] If we spent even a fraction of the time inventing alternatives to capitalism that we do in attempting to reinvent capitalism, we would be much further along in getting rid of the old and bringing in the new. Roger Backhouse and Bradley Bateman argue that we need to look to the past [...]
Readers of this blog know that I am a great fan of public art, especially when it is aesthetically and socially significant. Then, there is the world’s ugliest public art [ht: ja]—such as the Peter the Great Statue I saw in Moscow, which was designed by the Georgian designer Zurab Tsereteli, a close friend of [...]
