By investigating how these myths arose, why they gained traction, how to know they’re wrong, and what damage they’ve done, Jeff Madrick demands that we rethink what we imagine we know about economics, and suggests that we can prevent or, failing that, effectively solve the next Great Recession by tossing the old, bad ideas out and adopting an updated understanding of the dynamics involved in a prosperous, equitable, sustainable economy. It may take a lot to get policymakers, media, and the world to question and reject the proclamations of MIT and Harvard economists, but Madrick’s book hopes to contribute to that effort.
|By: Jesse Myerson Saturday November 29, 2014 1:59 pm|
|By: masaccio Sunday April 20, 2014 10:59 am|
Piketty’s book Capital in the Twenty-First Century teaches an economics we can all understand and applaud.
|By: masaccio Sunday January 12, 2014 11:00 am|
Societies that refuse to use the tools of democracy to control the rich suffer and die.
|By: John Cavanagh Sunday November 17, 2013 1:59 pm|
It is now well understood that Neoliberals are not advocates of a small or stunted night watchman state. They regularly demean the state to outsiders, but that does not imply they prefer a weak state. Rather, all their political efforts are devoted to recasting the strong state as one that conforms to their doctrinal imperatives.
|By: dakine01 Saturday August 25, 2012 1:00 pm|
With recoveries like this one, who needs recessions?
The average household income has fallen steadily for nearly everyone since the start of the economic expansion in June 2009, with average income dropping 4.8 percent in the three years since the upturn began, according to a report released Thursday.
|By: Dean Baker Tuesday September 20, 2011 5:00 pm|
That’s the question that readers are undoubtedly asking after seeing this piece on President Obama’s budget proposals. The piece featured three separate cites from Maya MacGuineas, who is the president of the Committee for a Responsible Federal Budget. (One cite included unnamed “others.”) The Committee for a Responsible Federal Budget has received substantial funding from Peterson and his foundation over the years.
|By: dakine01 Thursday September 15, 2011 4:15 pm|
Do they all become pod people when they go to DeeCee or is there just something about being an elected official that turns once (possibly) reasonable people into the worst type of concern troll (definition 2)?
|By: dakine01 Saturday August 6, 2011 6:00 pm|
So, I guess it has been a rather eventful week in the world economy and the lives of the Beltway Village Idiots Politicians, Pundits, and Courtiers. I’ll let Paul Krugman and Jane Hamsher do the honors of eviscerating the Standard & Poor downgrade of the US credit rating but do want to add my 2¢ in agreement that supposed neutral arbiters who sold their souls and “independent analysis” for the banksters crappy mortgage based securities should be well advised to STFU rather than interject themselves politically.
|By: masaccio Sunday July 3, 2011 10:40 am|
For a successful economic theory, reality must take precedence over public relations, for nature cannot be fooled. Richard Feynman on the Challenger disaster, slightly amended.