Heterodox economics
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Heterodox economics
Economics is a social science which requires a critical pluralistic approach, to be useful.
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Cameron steers the UK toward stagnation

Cameron steers the UK toward stagnation | Heterodox economics | Scoop.it
David Cameron should consider the UK's private debt situation before cutting government spending and risk making the economic stagnation worse.
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Masaccio: Piketty Shreds Marginal Productivity as Neoclassical Justification for Supersized Pay | naked capitalism

Per Piketty, the idea that people are paid what they are worth, or in neoliberal-speak, according to their marginal productivity, is a sham
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Back to 1917 – the wealth distribution in the US | Bill Mitchell – billy blog

Back to 1917 – the wealth distribution in the US | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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Robert Skidelsky: The Moral Economy Of Debt

Robert Skidelsky: The Moral Economy Of Debt | Heterodox economics | Scoop.it
Robert Skidelsky looks at the moral economy of debt and shows that creditor - debtors relationships are always socially negotiated.

Via pdeppisch
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IMF Meeting Review - Austerity to Cost | Michael Hudson

Prof Michael Hudson on the demands IMF policies have placed the world economy in. An inverse recovery with little lending to the productive sector.
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Krugman at the Rethinking Economics Conference: Still Wrong on Monetary Theory

Krugman at the Rethinking Economics Conference: Still Wrong on Monetary Theory | Heterodox economics | Scoop.it
The Rethinking Economics conference in New York took place over the weekend. Anyway, Paul Krugman was on a panel with James Galbraith and Willem Buiter. The panel was interesting in and of itself. ...
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Same old story – poor getting poorer and more indebted and the rich … | Bill Mitchell – billy blog

Same old story – poor getting poorer and more indebted and the rich … | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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The promise and the perils of globalisation: a conversation with Ian Goldin | Prospect Magazine

The promise and the perils of globalisation: a conversation with Ian Goldin | Prospect Magazine | Heterodox economics | Scoop.it
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General equilibrium theory — a gross misallocation of intellectual resources and time

General equilibrium theory — a gross misallocation of intellectual resources and time | Heterodox economics | Scoop.it
from Lars Syll Almost a century and a half after Léon Walras founded neoclassical general equilibrium theory, economists still have not been able to show that markets move economies to equilibria. ...
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Paul Krugman Does Not Understand the Liquidity Trap

Paul Krugman Does Not Understand the Liquidity Trap | Heterodox economics | Scoop.it
I came across a very amusing piece from Krugman in 2010. The piece is entitled 'Nobody Understands the Liquidity Trap'. Actually, Krugman might have a point -- if we include him in the 'everybody' ...
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The free market is an impossible utopia

The free market is an impossible utopia | Heterodox economics | Scoop.it
Karl Polanyi died decades ago, but his ideas about the economy help us understand both the causes of the economic crisis and its aftermath
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[156] Michael Hudson & Anthony Randazzo talk Effect of Zero Rates - YouTube

Our lead story: It's no secret that we are living in an increasingly water-stressed world, and that water resources are becoming an instrument of power. Roug...
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UK labour market continues to impoverish its workers | Bill Mitchell – billy blog

UK labour market continues to impoverish its workers | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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Modern econometrics — a mixture of metaphysics and bluff

Modern econometrics — a mixture of metaphysics and bluff | Heterodox economics | Scoop.it
from Lars Syll [Haavelmo's] effort to create foundations for the probability approach in econometrics finally results in an inconsistent set of claims in its defence. First, there are vast amounts ...
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Murray Bookchin - Economics and the Moral Order - YouTube

Recorded in the Spring of 1976 in New York at the Schumacher Center
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The Financialization of Life | naked capitalism

Financialization is the driver of a new form of capitalism that has emerged in the last four decades.
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Time to ditch the export-led growth mania | Bill Mitchell – billy blog

Time to ditch the export-led growth mania | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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Krugman & DeLong are still wrong on Minsky and IS-LM

Krugman & DeLong are still wrong on Minsky and IS-LM | Heterodox economics | Scoop.it
Esteemed colleagues Paul Krugman and Brad DeLong were not exactly überjoyed over my post Minsky on the IS-LM obfuscation, where I was quoting Hyman Minsky's critique of the Hicksian IS-LM interpret...
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Econometricians, Financial Markets and Uncertainty

On dodgy econometricians and economic forecasting.
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Peak Inequality: The .01% And The Impoverishment Of Society

Peak Inequality: The .01% And The Impoverishment Of Society | Heterodox economics | Scoop.it
This is an adapted excerpt from my new book, The Economics of Revolution. I: The Ultra-Rich .01% II: The Systematic Impoverishment of Society III: Economic Slavery IV: Hidden Wealth & Shadow Ba...
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Financial Times Contributors Understand 'Liquidity Trap' Better Than Neo-Keynesians Like Krugman

Financial Times Contributors Understand 'Liquidity Trap' Better Than Neo-Keynesians Like Krugman | Heterodox economics | Scoop.it
I have long complained that the likes of Paul Krugman have grossly misinterpreted the meaning of the term 'liquidity trap'. These economists seem to think that we are currently in a liquidity trap ...
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Britain has not recovered the losses caused by the GFC | Bill Mitchell – billy blog

Britain has not recovered the losses caused by the GFC | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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Are students revolting, or is it economics?

Are students revolting, or is it economics? | Heterodox economics | Scoop.it
Mainstream economists have long ignored the dynamics of private debt, money and banks to their detriment. Now more than ever, a realistic and non-orthodox approach to economics is needed.
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Bad debt cannot simply be “socialized”

Bad debt cannot simply be “socialized” | Heterodox economics | Scoop.it
Once again I am going to discuss debt, and my discussion will be mainly conceptual. I suspect that many of my regular readers might wonder why I keep returning to this subject – and, often enough, ...
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