Veblen was read by every socialist leader and most progressives in early and mid-twentieth century America. Written in a popular sarcastic style, his books showed how the behavior of wealth and high finance was having perverse effects after World War I. Instead of funding economic growth, Wall Street was becoming the protector of privilege and engaging in artful deception, distorting economies away from passing on the fruits of technology to populations in the form of rising living standards and falling costs of living. Mainstream economics was ripe with hypocrisy in saying (and even trying to demonstrate mathematically) that all this was for the best and depicting all wealth and income as being fairly earned.
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Economics is a social science which requires a critical pluralistic approach, to be useful.
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I often compare the evolution of exchange alternatives to the development of aviation. Just as many early attempts to fly were clumsy and poorly informed by good science, so too have been many earl... Delete the scoop?
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By Payam Sharifi The subject and discussion of Ethics for economists is a recent but welcome phenomenon. The creation of the documentary “Inside Job” highlighted the ethical issues facing economists. Various outlets, consisting of many from outside... Delete the scoop?
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Wall St. Financial Analyst & Economics Professor Michael Hudson on the history of debt and economic imperialism. From the first seminar of the "Modern Money ... Delete the scoop?
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How else can I put this? If Krugman's coffee-clutch dismissal of my criticism of IS-LM is wrong, then gee, I made the same mistake as John H Delete the scoop?
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The one kind of debt we should not be worried about is government debt. Delete the scoop?
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October 19th, 2012 This edited transcript is expanded from a live phone interview with Michael Hudson by Dimitris Yannopoulos for Athens News. It Delete the scoop?
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