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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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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Eurozone | Bill Mitchell – billy blog

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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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Europe takes a battering for Brussels' stability and growth delusions

Europe takes a battering for Brussels' stability and growth delusions | Heterodox economics | Scoop.it
For Southern Europe to climb out of its Great Depression, Brussels needs to admit defeat and finally abandon its foolish policy of trying to eliminate government deficits at any cost.
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David Harvey Reviews Piketty's Capital in the 21st Century

David Harvey Reviews Piketty's Capital in the 21st Century | Heterodox economics | Scoop.it
Professor David Harvey reviews Thomas Piketty's Capital in the Twenty-First Century.
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Paul Krugman -- a case of dangerous neglect of methodological reflection

Paul Krugman -- a case of dangerous neglect of methodological reflection | Heterodox economics | Scoop.it
Alex Rosenberg -- chair of the philosophy department at Duke University, renowned economic methodologist and author of Economics -- Mathematical politics or Science of Diminshing Returns -- had an ...
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Uncertainty in Contemporary DSGE Modeling: Not Even Wrong

Uncertainty in Contemporary DSGE Modeling: Not Even Wrong | Heterodox economics | Scoop.it
Pilkington uses DSGE models, a widely used type of macroeconomic forecasting model, to illustrate intellectual bankruptcy in economics
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Ricardian equivalence -- total horseshit

Ricardian equivalence -- total horseshit | Heterodox economics | Scoop.it
Ricardian equivalence basically means that financing government expenditures through taxes or debts is equivalent, since debt financing must be repaid with interest, and agents -- equipped with rat...
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Wolf Richter: The Big Hoax Of The Wall Street Hype Machine - naked capitalism

Wolf Richter: The Big Hoax Of The Wall Street Hype Machine - naked capitalism | Heterodox economics | Scoop.it
Wall Street earnings are running on hype, momentum, and earnings expectations gamesmanship. Investors beware!
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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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Why hasn't post-Keynesian economics embraced the principles of Modern Monetary Theory

Why hasn't post-Keynesian economics embraced the principles of Modern Monetary Theory?

 

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L. Randall Wray -- MODERN MONEY: the way a sovereign currency "works" - YouTube

Economics Professor Randy Wray answers the questions: What is Money? Why is at accepted? What is the relationship between money & government? What backs up o...
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Leaked document shows EU is going for a trade deal that will weaken financial regulation

Leaked document shows EU is going for a trade deal that will weaken financial regulation | Heterodox economics | Scoop.it
According to a leaked document, the EU is bent on using the TTIP negotiations with the US to get an agreement on financial regulation that, according to this analysis by Kenneth Haar of Corporate Europe Observatory (CEO) and Myriam Vander Stichele of The Centre for Research on Multinational Corporations (SOMO) will weaken reform and control of the financial sector.
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84th BIS Annual Report, 2013/2014

A new policy compass is needed to help the global economy step out of the shadow of the Great Financial Crisis. This will involve adjustments to the current policy mix and to policy frameworks with the aim of restoring sustainable and balanced economic growth.
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Thoughts on Robert Skidelsky's Manifesto for the Reform of the Anglo-Saxon Economics Curriculum: Wednesday Focus for June 18, 2014 - Washington Center for Equitable Growth

The extremely wise Robert Skidelsky has an excellent rant against Anglo-Saxon economics departments: Robert Skidesky: Knocking the scientific halo off mainstream economists’ teaching and research: “The growing discontent of economics students… …with the university curriculum…. Students at the University of Manchester advocated an approach ‘that begins with economic phenomena and then gives students a toolkit …
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Changes to unemployment benefit entitlements – the work of sociopaths | Bill Mitchell – billy blog

Changes to unemployment benefit entitlements – the work of sociopaths | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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