David Brooks is again prominently displaying his misunderstanding of economics in the New York Times, first by claiming that borrowing today is impoverishing our future. Elementary economics shows the opposite is true.
|By: Dean Baker Wednesday June 6, 2012 9:00 am|
|By: Knut Saturday May 19, 2012 1:59 pm|
It is an honor and a pleasure to have Paul Krugman at the Lake this afternoon for a conversation on End This Depression Now! Dedicated “To the unemployed, who deserve better,” the book is a condemnation of the policies and mind-set that have produced the worst economic depression since the 1930s. And unlike the Great Depression, which contemporaries did not understand, we know what to do; the current depression is entirely self-inflicted. The broken homes and ruined lives are not attributable to acts of God or the inscrutable logic of the market, but are the direct consequence of public decisions that have amplified the inherent risk of private credit by deregulating financial operations and the attempt to balance the budget when aggregate private demand is collapsing. The central message is that none of this suffering is necessary, and none of it is justified.
|By: Scarecrow Thursday April 26, 2012 2:40 pm|
The Republican Party is fond of telling voters that their goal is to expand the economic pie, and as the size of the pie grows, there will be more for everyone, no redistribution required. But when you get down to their actual policies, there are two standards for how this pie is shared: one for the rich, and a very different standard for everyone else.
|By: Max Fraad Wolff Saturday April 7, 2012 1:59 pm|
James Galbraith’s Inequality and Instability updates and motivates two intertwined and core issues facing the world today. Professor Galbraith takes on the macroeconomy, economics profession, and the structural trends in the world economy.
|By: Paul Davidson Sunday March 11, 2012 1:59 pm|
Nicholas Wapshott’s book, Keynes Hayek: The Clash that Defined Modern Economics, attempts to explain the debate that began in the 1930s between two great economists– John Maynard Keynes and Friedrich Hayek– regarding the cause of the Great Depression and the implication of possible cures.
|By: SouthernDragon Wednesday December 28, 2011 4:45 am|
A variety of links to articles/interviews on current topics that may, or may not, be of interest.
|By: SouthernDragon Tuesday November 29, 2011 4:45 am|
A variety of links to articles and interviews on current topics that may, or may not, be of interest.
|By: Scarecrow Saturday July 23, 2011 4:00 pm|
On several occasions after the Great Depression began, President Hoover admonished the public and those demanding the government provide economic relief that the nation had run out of money and that it would be irresponsible to borrow and engage in profligate spending. Over 80 years later, we are hearing virtually the same economic gibberish from President Obama.
|By: masaccio Sunday July 10, 2011 10:40 am|
Ignorant Democrats can’t counter the stupid economic theories preached by ignorant Republicans.
|By: bmaz Saturday July 2, 2011 11:15 am|
Well the Obama Administration slid some pretty big news into the holiday weekend trash dump, and for once it is very good news. In a late filing in the Northern District of California (NDCA) case of Golinski v. US Department of Personnel Management, the Department of Justice has formally stated that the Defense of Marriage Act (DOMA) is unconstitutional