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Neoclassical economics has so deeply entrenched the notion that markets are better than all other ways of organising life, that decisions escape rational scrutiny. All models use a few simplifying assumptions, but those underpinning mainstream economics more often distort and detach from reality. That’s why new groups are emerging to ...Read More
This article by the NYT with the 60 Minutes on money laundering piece starts to put banks in the crosshairs of money laundering activity. A free press is a fundamental component of Democracy, and the Times has something here that could bring down a book of cards. This is ...Read More
Not sure why Rollingstone is writing about economics and they are def carrying with their language, yet this is an enlightening and accessible read about the Libor rate - interest rate that underpins most of commercial lending.