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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Kindleberger and the Minsky model

Kindleberger and the Minsky model | Heterodox economics | Scoop.it
In an often cynical world, standard financial and macroeconomic quantitative models give people the benefi t of the doubt. Fundamental economic theory assumes the best of us, supposing that human bei...
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The Postmortem On Federal Reserve Quantitative Easing - Important Cool

The Postmortem On Federal Reserve Quantitative Easing - Important Cool | Heterodox economics | Scoop.it
ImportantCool’s money man Joe McIvor on the ins and outs of creating money from nothing The United States Federal Reserve has signaled that it is ending its program of “Quantitative Easing”, the controversial program of negative real interest rates and massive asset purchases funded by effectively “printing” money. So was printing a bunch of money to support...
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▶ Bruce Greenwald: What economics students should be taught - YouTube

12th International Post Keynesian Conference, University of Missouri - Kansas City, September 25, 2014

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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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One small study that explodes the myth that inequality is efficient

If you want people to consume less water, there are roughly two ways you could do it. One is to raise the price of water, and the other is to simply mandate that everyone cut back on their water consumption.

Either will work, but they work in different ways. And an important recent study from Casey Wichman, Laura Taylor, and Roger von Haefen suggests that the difference in how they work has crucial implications for how we think about a wide variety of issues. When economic inequality is really severe, using prices to regulate the distribution of scarce goods can be seriously unfair. At the same time, using non-price mechanisms can be seriously inefficient.

That means that inequality is preventing us from adopting efficient solutions to a wide variety of problems, ranging from drought response to traffic congestion to climate change.

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MMT as the Austerity Alternative | Michael Hudson

Michael appeared on Guns and Butter alongside Assoc Professor Stephanie Kelton in Rimini. Listen to the interview aired March 7th. Make sure you read Mic...
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Trickle down economics – the evidence is damning | Bill Mitchell – billy blog

Trickle down economics – the evidence is damning | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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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.

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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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