Heterodox economics
1.7K views | +0 today
Follow
 
Scooped by Nicholas Ripley
onto Heterodox economics
Scoop.it!

Gold standard and fixed exchange rates – myths that still prevail | Bill Mitchell – billy blog

Gold standard and fixed exchange rates – myths that still prevail | Bill Mitchell – billy blog | Heterodox economics | Scoop.it

At the heart of the matter is the fundamental difficulty people have in appreciating that there has been a fundamental shift since the 1970s in the way our monetary system operates. This shift redefines how we should think about macroeconomics and the role of a national government which issues its own currency.

more...
No comment yet.
Heterodox economics
Economics is a social science which requires a critical pluralistic approach, to be useful.
Your new post is loading...
Your new post is loading...
Scooped by Nicholas Ripley
Scoop.it!

A Tale of Two Faltering Unions (UK and EU); and what DiEM25 proposes in response

A Tale of Two Faltering Unions (UK and EU); and what DiEM25 proposes in response | Heterodox economics | Scoop.it
An address at the Oxford Guild, Oxford University, on passionate believers who are troublemakers, Brexit negotiations, simulating a federation and other conundrums, November 28, 2017.
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

What is Sovereign Money?

What is Sovereign Money? | Heterodox economics | Scoop.it
money, banking, monetary reform, monetary theory, monetary policy,
sovereign money, sovereign currency, chartalism, Chicago plan, 100%-reserve
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

When neoliberals masquerade as progressives

When neoliberals masquerade as progressives | Heterodox economics | Scoop.it
One wonders what goes on in the heads of politicians sometimes. Perhaps not much other than a warped sense of their purpose in life – which for some seems to be to advance themselves rather t…
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

An Introduction to Post-Keynesianism

Post-Keynesianism has gained a lot of attention in heterodox circles in recent years, particularly after the Financial Crisis of 2007/8 which showed tha
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

Michael Hudson: Socialism, Land and Banking: 2017 Compared to 1917 | naked capitalism

Michael Hudson: Socialism, Land and Banking: 2017 Compared to 1917 | naked capitalism | Heterodox economics | Scoop.it
Why did socialism lose out in the 20th century to rentiers promoting neoliberalism?
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

Green Party Fringe Presentation: Stagnation In The UK

I gave this talk today (October 7th 2017) to the Green Party Annual Conference at the invitation of Natalie Bennett, the previous leader of the Greens
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

Why the poor pay for high debt, even if they don't borrow (in 13 minutes & 15 seconds flat)

This was an invited talk to public servants organized by the Exploring Economics group (https://www.exploring-economics.org/en/). In just over 13 minutes
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

The End Of Capitalism Is Already Starting–If You Know Where To Look

The End Of Capitalism Is Already Starting–If You Know Where To Look | Heterodox economics | Scoop.it
One of America’s foremost Marxist economists has never felt so optimistic in his 50-year career.
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

Why Economists Need the Arts

Engaging in music, literature and the arts is essential for understanding context and human behavior—which economists so often miss The study of humanitie
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

How Not to Criticize Standard Economic Models

Josh Mason from John Jay College CUNY doesn’t think teaching contending economic theories is effective, and sees the objective of introductory economic
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

How Elite Financial Networks Rule the World

The identities of the world’s most powerful people, and the corporations and institutions they run, are well known. What’s poorly understood is a ke
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

Central banks still funding government deficits and the sky remains firmly above

Central banks still funding government deficits and the sky remains firmly above | Heterodox economics | Scoop.it
There was an article in the Financial Times last week (August 16, 2017) – Central banks hold a fifth of their governments’ debt – which seemed to think there was a “challenge̶…
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

LSE Events | Ann Pettifor | The Production of Money: how to break the power of bankers

Speaker(s): Ann Pettifor Chair: Professor Wouter Den Haan Recorded on 8 February 2017 at Old Theatre, Old Building Political economist Ann Pettifo
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

Productivity and Employment: A Cautionary Tale

Productivity and Employment: A Cautionary Tale | Heterodox economics | Scoop.it
Ah, productivity. Who knew that our whole prosperity was totally dependent on a concept as nebulous as this? To be sure, it doesn'
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

Essentials of Heterodox and Post-Keynesain Economics

Marc Lavoie from University of Ottawa in Canada presented a seminar at University of Missouri Kansas City on March 21, 2014. The topic was "Essentials o
more...
No comment yet.
Rescooped by Nicholas Ripley from Economics: Its History and Politics
Scoop.it!

Economists: Too Much Ideology, Too Little Craft

Economists: Too Much Ideology, Too Little Craft | Heterodox economics | Scoop.it
Paul Krugman argued the other day that the belief in the need for new economic thinking after the financial crisis was incorrect, but led to some crazy but influential ideas that suited big money and the political right. While I agree with a lot of what Paul says, I would want to add something. These thoughts are strongly influenced by the fact that I’m in the middle of reading Dani Rodrik’s new book, called Straight Talk on Trade.

In the preface to that book he tells the story of how 20-odd years ago he asked an economist to endorse a previous book of his called Has Globalisation Gone Too Far? The economist said he couldn’t, not because he disagreed with anything in the book, but because he thought the book would “provide ammunition to the barbarians”. Dani Rodrik argues that this attitude is still commonplace. That attitude is, of course, both very political and very unscientific.

Via pdeppisch
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

Money creation in a post-crisis world

Money creation in a post-crisis world | Heterodox economics | Scoop.it
As many of you know, I have spent much of the last seven years explaining to anyone who will listen that banks do not "lend out
more...
No comment yet.
Rescooped by Nicholas Ripley from Economics: Its History and Politics
Scoop.it!

British productivity slump – all down to George Osborne’s austerity obsession

British productivity slump – all down to George Osborne’s austerity obsession | Heterodox economics | Scoop.it
Apparently, whenever some poor economic news is published about the United Kingdom, journalists have to weave in their on-going gripe about the outpouring of democracy in June last year that saw the Brexit vote to leave successful. Its hysterical really. The most recent example is from the otherwise sensible Aditya Chakrabortty from the UK Guardian (October 17, 2017) – Who’s to blame for Brexit’s fantasy politics? The experts, of course. The story has nothing much to do with the June 2016 Referendum but more about massive forecasting failures of the Office of Budget Responsibility. But somehow the story opines about the lies told about Brexit and a fiscal “bloodbath” – the latter being the description for the fact that the fiscal deficit is likely to increase a little as a result of a slower than expected economic growth outcome. The UK Guardian continually writes about these two obsessions – the first that Brexit will be a disaster and the second that the fiscal position of the British government is in jeopardy and will undermine the capacity of the government to defend the economy if a major downturn comes along (as a result of the ‘Brexit disaster’). The narratives are interlinked – Brexit is bad, it will cause deficits to rise which are bad, and the government will be powerless as a result of the rising deficits to stop the bad consequences of Brexit – which is a big bad. All propositions are largely nonsense. Brexit will be bad if the British government continues to implement neoliberal policy. Rising deficits do not alter the spending capacity of government. And as a currency-issuing government, Britain can always arrest a recession, if there is political will. The fact is that the OBR forecast errors are just part of the neoliberal lie. And the productivity growth slump the OBR has now ‘discovered’ predates the Brexit referendum by years and is all down to the misplaced austerity imposed by George Osborne in June 2010. But it is disappointing to read this sort of stuff being repeated by so-called progressive commentator. There is clearly more work to be done via education.

Via pdeppisch
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

Economies Live in Societies. Why Do So Few Economists Acknowledge That?

Rather than continue to narrow the field, economists need to ask what they’re missing. University of Chicago professor and former governor of the Reserv
more...
pdeppisch's curator insight, September 21, 8:20 PM
Economics is one strange discipline. The assumptions are wrong and God forbid the economists would relate their "science" to reality.
 
Scooped by Nicholas Ripley
Scoop.it!

But Can We Afford It? Economic Priorities for the Next Administration

The Harvard Law School Forum, the Harvard Law School Tax Law and Financial Regulation Students Association, the Modern Money Network, the America
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

RTD Ep:71 "We're At Peak Level Of Private Debt" - Professor Steve Keen

Subscribe to RTD for more interviews and share if you enjoy... Thanks for watching this interview, "We're At Peak Level Of Private Debt", with Professo
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

Professor Mark Blyth on Post-WW2 Economics and Neoliberalism

Political economist Mark Blyth of Brown University shares his thoughts on the global economy since World War 2 and the neoliberal era since the 1970s. Thi
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

The Dangers of Financialization

TIME magazine assistant managing editor Rana Foroohar’s book Makers and Takers sounds an important note of warning on the dangers of financialization of th
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

Tariffs, trade and money illusion

Tariffs, trade and money illusion | Heterodox economics | Scoop.it
In the past few days, I have read three pieces from Economists for Brexit - now renamed "Economists for Free Trade" - extolling th
more...
No comment yet.
Scooped by Nicholas Ripley
Scoop.it!

House of Herbs - Adbusters | Journal of the mental environment

House of Herbs - Adbusters | Journal of the mental environment | Heterodox economics | Scoop.it
Casa delle Erbe (House of Herbs) is a growing community that challenges the idea that we need a capitalistic socio-economic structure.
more...
No comment yet.