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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An empirical nail for the austerity coffin | Steve Keen | Commentary | Business Spectator

Fresh analysis disproving the correlation between debt levels and eurozone bond spreads puts the brakes on the allure of austerity.
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The Spinning Top Economy

The Spinning Top Economy | Heterodox economics | Scoop.it
The central insight of the sectoral balances model of the economy is that not all sectors of the economy can net-save at the same time.
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Gittins and economic dyspepsia | Steve Keen | Commentary | Business Spectator

When John Maynard Keynes said we're all dead in the long run, it's obvious he was criticising modelling of the economy as if it's in continuous equilibrium.
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Is an Anti-Austerity Alliance of Left Neo-classicals and Post-Keynesians Possible? Is it Desirable? (Part 2) « naked capitalism

Commentary on current economic and financial news.
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EconoMonitor : Great Leap Forward » MMT, THE EURO, AND THE ROAD TO RECOVERY: Interview with L. Randall Wray

Economics for the 21st Century and Beyond
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Emperors of Banking Have No Clothes

Emperors of Banking Have No Clothes | Heterodox economics | Scoop.it
In Hans Christian Andersen’s famous tale “The Emperor’s New Clothes,” two tailors offer to provide the emperor with beautiful and very special clothes. They claim the clothes will be invisible to people who are stupid or unfit for their jobs.
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The Non Zero-Sum Society

As President Obama said in his inaugural address last week, America “cannot succeed when a shrinking few do very well and a growing many barely make it.”
Yet that continues to be the direction we’re...
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EconoMonitor : Great Leap Forward » Global Financial Crisis Explained: The Theory of Social Costs

Economics for the 21st Century and Beyond
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The Origins of Neoliberalism Part IV: A Map of Hayek’s Delusion « naked capitalism

Commentary on current economic and financial news.
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Britain caught in the mire of its own policy failure | Bill Mitchell – billy blog

Britain caught in the mire of its own policy failure | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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EconoMonitor : Great Leap Forward » MMT AND THE SUSTAINABILITY OF SOVEREIGN DEFICITS AND DEBT

EconoMonitor : Great Leap Forward » MMT AND THE SUSTAINABILITY OF SOVEREIGN DEFICITS AND DEBT | Heterodox economics | Scoop.it
Economics for the 21st Century and Beyond
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Okun’s Law survives 50 years – trouble for the neo-liberals | Bill Mitchell – billy blog

Okun’s Law survives 50 years – trouble for the neo-liberals | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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To understand the deepening mess we are in now, it's worth looking to the words of a Polish economist in 1944

To understand the deepening mess we are in now, it's worth looking to the words of a Polish economist in 1944 | Heterodox economics | Scoop.it
Aditya Chakrabortty: This assault on an entire social contract is what Michał Kalecki warned about
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Philip Pilkington: Kill The King – Why Are We So Scared of Fiat Money? « naked capitalism

Commentary on current economic and financial news.
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Ratings firm plays the sucker card … again | Bill Mitchell – billy blog

Ratings firm plays the sucker card … again | Bill Mitchell – billy blog | Heterodox economics | Scoop.it
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The power to 'create money out of thin air' | openDemocracy

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Sport and doping – the spreading tentacles of capital | Bill Mitchell – billy blog

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Against Friedman: Why Assumptions Matter

I have previously discussed Milton Friedman's infamous 1953 essay, 'The Methodology of Positive Economics.' The basic argument of Friedman's essay is the unrealism of a theory's assumptions should ...
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Quelle Surprise! IMF Always Prescribes the Same Austerity Hairshirt « naked capitalism

Commentary on current economic and financial news.
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Economics in the Age of Deleveraging

Economics in the Age of Deleveraging | Heterodox economics | Scoop.it
Click here for this post in PDF: Debtwatch members; CfESI members
Click here for the data in this post: Debtwatch members; CfESI members
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The Failure of Economics : Steve Keen

Paul Mason speaks to Steve Keen on the weaknesses of mainstream economic theory, and on the need for a debt writedown. Posted for educational use, originaly ...
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Philip Pilkington: Purging Economics of Religion – A Rebuttal to Robert Nelson’s Defence of The Great Chain of Being « naked capitalism

Philip Pilkington: Purging Economics of Religion – A Rebuttal to Robert Nelson’s Defence of The Great Chain of Being « naked capitalism | Heterodox economics | Scoop.it
Commentary on current economic and financial news.
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The rentier economy

The rentier economy | Heterodox economics | Scoop.it

There has been some useful analysis on the state of the UK economy following the release of the Q4’2012 GDP figures last week (see my last post, Britain deep down).  In my last post, I dealt with the apparent conundrum of the UK unemployment rate falling while the economy stagnated in real terms in 2012.  I argued that the employment data hid the reality that more temporary and part-time jobs had been created to replace the loss of full-time, permanent jobs.  And this was part of the explanation for the decline in unemployment and the disappearance of any productivity growth in the UK.   The other key factor is the lack of sufficient investment growth as profitability remains well below the previous peak, particularly in the productive sectors of manufacturing (see my post,http://thenextrecession.wordpress.com/2012/12/05/osbornes-mess/).


Via jean lievens
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Bankers, exposed | The Enlightened Economist

Bankers, exposed | The Enlightened Economist | Heterodox economics | Scoop.it
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The Irrational Consumer: Why Economics Is Dead Wrong About How We Make Choices

The Irrational Consumer: Why Economics Is Dead Wrong About How We Make Choices | Heterodox economics | Scoop.it
A new paper reviews how psychology, biology, and neurology are ganging up on economics to prove that, when it comes to making decisions, people are anything but rational
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