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Themes of 2016

Posted: 6 January 2017 in Uncategorized

Looking back over the past year, here are the ten major themes I found in my blog posts: inequality critique of mainstream economics the U.S. presidential election, especially Bernie Sanders and Donald Trump class and surplus epistemology, especially uncertainty utopia working-class corporations and capital academy critique of liberalism We’ll see what happens in the current year. . […]

Obviously, recent events—such as Brexit, Donald Trump’s presidency, and the rise of Bernie Sanders and Jeremy Corbyn—have surprised many experts and shaken up the existing common sense. Some have therefore begun to make the case that an era has come to an end. The problem, of course, is while the old may be dying, it’s […]

  One of the courses I’m offering this semester is A Tale of Two Depressions, cotaught with one of my colleagues, Ben Giamo, from American Studies. It’s a comparison of the conditions and consequences of the two major crises of capitalism during the past hundred years, the 1930s and the period after the crash of 2007-08.* It […]

It comes as no surprise, at least to most of us, that corporations are getting larger and increasing their share in many different industries. We see it everyday—when we buy plane tickets or try to take out a loan or just make a purchase at a retail store. We know it. And now, it seems, economists […]

Donald Trump promised to bring back “good” manufacturing jobs to American workers. So did Hillary Clinton. Both, as I argued back in December, were wrong. What neither candidate was willing to acknowledge is that, while manufacturing output was already on the rebound after the Great Recession, the jobs weren’t going to come back. They were […]

Regular readers know I take statistics quite seriously. So, as it turns out, did Stephen Jay Gould who, in the most poignant story about statistics of which I am aware, explained how important it is to go beyond the abstractions of central tendencies and understand the distribution of variation within the numbers. And right now, […]

Narrative economics

Posted: 10 January 2017 in Uncategorized

Mainstream economists, it seems, have finally discovered the role of narrative in economics. But their work ignores previous research on the topic—and fails to identify the narratives at work in other areas, including academic economic theory itself. The current head of the American Economic Association, Robert J. Shiller, delivered “Narrative Economics” as his presidential address at the […]

During the recent presidential campaign, Donald Trump promised to revitalize American manufacturing—and bring back “good” manufacturing jobs. So did Hillary Clinton. What neither candidate was willing to acknowledge is that, while manufacturing output was already on the rebound after the Great Recession, the jobs weren’t going to come back. As is clear from the chart […]

It’s now official, Truth is dead. Oxford Dictionaries has selected “post-truth” as 2016’s international word of the year, after seeing a spike in frequency this year in the context of the Brexit referendum in the United Kingdom and the presidential election in the United States.* Many of us are neither surprised nor dismayed by the realization […]

Funding for public higher education has been decreasing in recent decades and, as schools rely increasingly on tuition for revenue, student debt has been rising. That much is pretty well known. What is less a matter of public knowledge and debate is the link between growing racial and ethnic diversity and the decline in funding. […]