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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Austerity is killing off the hopes of our youth

Austerity is killing off the hopes of our youth | Heterodox economics | Scoop.it
Sometimes, it is almost as if I have to pinch myself to establish that what I am reading is not a dream. A few reports lately have had that effect, not the least being the latest IMF report –…
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The mass consumption era and the rise of neo-liberalism

The mass consumption era and the rise of neo-liberalism | Heterodox economics | Scoop.it
I was having a talk with a friend in San Francisco last Monday aboutglobalisationand the capacity of the state, which is the topic of the upcoming book I am working on (manuscript due around May…
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Incorporating the Rentier Sectors into a Financial Model | Michael Hudson

Incorporating the Rentier Sectors into a Financial Model | Michael Hudson | Heterodox economics | Scoop.it
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Rewriting Economic Thought | Michael Hudson

Prof Michael Hudson on CounterPunch radio discussing how economic theory was rewritten to avoid Killing the Host.
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Krugman is right -- public debt is good!

Krugman is right -- public debt is good! | Heterodox economics | Scoop.it
The U.S.economyhas, on the whole, done pretty well these past 180 years, suggesting thathaving the government owethe private sector money might not be all that bad a thing. The Britishgovernme...
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Thomas Piketty explains the meaning of economic models, and why we can’t rely on them

Thomas Piketty explains the meaning of economic models, and why we can’t rely on them | Heterodox economics | Scoop.it

Keep these words in mind the next time you're perplexed by a complex-looking economic argument.

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How rising debt causes inequality and crisis

How rising debt causes inequality and crisis | Heterodox economics | Scoop.it
In a (for me!) brief presentation with 7 slides, I explain why rising private debt necessarily causes increased inequality, and leads to an
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Piketty and the non-applicability of neoclassical economics

Piketty and the non-applicability of neoclassical economics | Heterodox economics | Scoop.it
from Lars Syll In yours truly’s On the use and misuse of theories and models in economics the author of Capital in the Twenty-First Century is criticized for not being prepared to fully take the co...
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Greek bank deposit migration – another neo-liberal smokescreen | Bill Mitchell – billy blog

Greek bank deposit migration – another neo-liberal smokescreen | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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A primary fiscal deficit Never ever? I don’t think so | Bill Mitchell – billy blog

A primary fiscal deficit Never ever? I don’t think so | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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Fix our debt addiction to fix our economy | Michael Hudson

Fix our debt addiction to fix our economy | Michael Hudson | Heterodox economics | Scoop.it
Michael Hudson in the Washington Post on the control bankers have over democracy and the resultant debt-weight society endures.
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Lecture 4 The Post Keynesians: Realism Uncertainty, Endogenous Money & Financial Instability - YouTube

Post Keynesians diverged from the mainstream when Hicks re-imagined Keynes asamarginalist.Defining features include an emphasis upon realism in modeling, ...
Nicholas Ripley's insight:

The dangers of governments running surpluses are best heeded by the great depression

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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
General equilibrium is fundamental to economics on a more normative level as well. A story about Adam Smith, the invisible hand, and the merits of markets pervades introductory textbooks, classroom...
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Banks are not intermediaries of loanable funds – and why this matters

Banks are not intermediaries of loanable funds – and why this matters | Heterodox economics | Scoop.it
Problems in the banking sector played a critical role in triggering and prolonging the Great Recession. Unfortunately, standard macroeconomic models were initially not ready to provide much support...
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Global Financialization 2015 - The state of play | Michael Hudson

Michael Hudson in fine form digging into the geo-political plays determined by financial rent-seeking.
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Bank of England finally catches on – mainstream monetary theory is erroneous | Bill Mitchell – billy blog

Bank of England finally catches on – mainstream monetary theory is erroneous | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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Can a band of rebel economists change economic thought before it's too late?

Can a band of rebel economists change economic thought before it's too late? | Heterodox economics | Scoop.it
To the uninitiated, Carmen Reinhart’s reaction to our protest at her talk at the American Economic Association conference might seem understandable. After all, our group of rebel economics students...
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What Thomas Piketty and Larry Summers Don’t Tell You About Income Inequality | naked capitalism

Piketty's tax proposals fall well short of the major changes needed to keep us from becoming a Downton Abbey society.
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