"James K. Galbraith thinks a new attempt to refurbish the discipline suffers from a fatal blind spot."

"Lockdowns happened. Prices are higher. End of story."

"Not bad, but could be better."

"How the pandemic reshaped the dismal science."

>"Quantitative easing risks generating its own boom-and-bust cycles, and can thus be seen as an example of state-created financial instability. Governments must now abandon the fiction that central banks create money independently from _...Read More_

"Although neoclassical economics relies on assumptions that should have been discarded long ago, it remains the mainstream orthodoxy. Three recent books, and one older one, help to show why its staying power should be regarded as a _...Read More_

"Incentives do matter, and to suggest otherwise is to betray basic principles of economics."

"There is a real risk that we will return to the stagflation of the past but for a different reason than in the 1970s."

"If anything is to be said in defense of the IMF’s seeming complacency about the troubling U.S. economic outlook, it is that the IMF is far from alone."

"Rising demand must be met by rising supply."

Capitalism is more and more authoritarian. It has to be in the protection of a worsening imbalance and an increasingly inefficient distribution of resources. Ultimately, capitalism must be totalitarian and plutocratic in its own protection. _...Read More_

"Joan Robinson upended the misogynistic good-old-boys’ network of economists and devised theories around competition and labor vital to the antitrust debates of today."

"The English economist's views on "animal spirits" are vital to understanding his work."

"Today, freely floating exchange rates suit most large countries better than the late economists Richard Cooper, Robert Mundell, and John Williamson thought. But some countries do well with firmly fixed exchange rates, while at least half _...Read More_

"Over the long-term, in the collision between unprecedented spending and private investment, historical data indicate that stagnation will prevail."