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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. . […]

The pollsters got it wrong again, just as they did with the Brexit vote and the Colombia peace vote. In each case, they incorrectly predicted one side would win—Hillary Clinton, Remain, and yes—and many of us were taken in by the apparent certainty of the results. I certainly was. In each case, I told family […]

Uncertainty, as we wrote years ago, is a real problem. Not a problem in and of itself. But it’s certainly a problem for modernist thinking. That’s why, time and gain, neoclassical economists have attempted to reduce uncertainty to probabilistic certainty. It also seems to be why a team of scientists (neurobiologists and others) [ht: ja] have devised […]

Class and Trumponomics

Posted: 6 December 2016 in Uncategorized

President-elect Donald Trump has inherited an economy that is as divided as the electorate. The question is, what will that economy look like if and when Trump’s right-wing national-populist promises and post-election proposals are enacted? As I have shown in the three installments of the first part of this series, “Class Before Trumponomics” (here, here, and here), […]

One thing is clear in the current conjuncture: corporate investment in capital equipment is declining, and it’s dragging overall economic growth and labor productivity down with it. In the second quarter of 2016, the U.S. economy grew at an annual rate of only 1.2 percent, which caught business commentators and Wall Street analysts by surprise. […]

Is anyone else struck by the contradiction between what is actually going on in the world and the fact that, for those in charge, it’s just business as usual? Consider, for example, the decision to drop the charges against the three remaining officers facing trial in connection with the April 2015 death in policy custody of […]

No matter how many stories I tell them about thought control in economics, students and colleagues in other disciplines simply don’t believe me. They don’t understand the restrictions on the professors who are hired in many economics departments, the narrow range of methods and perspectives published in the leading economics journals, the limits on economics research projects […]

Leicester City was not going to win the Premiership—not by a long shot. Nor was the Republican nomination supposed to be handed to Donald Trump. And Bernie Sanders, well, there was no chance he was going to give Hillary Clinton a serious run for her money (and machine) in the Democratic primaries. And yet here we are. Leicester City […]

Chart of the day

Posted: 29 January 2016 in Uncategorized
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source It’s not just stock market turmoil. Capitalist growth is clearly slowing—and the downturn in the Purchasing Managers Index (as calculated by Markit) suggests weak growth in the months ahead. Worries about financial market volatility, the impact of slower growth overseas, a downturn in the energy sector and uncertainty about higher interest rates all took […]