Articles
Articles and analyses from the INET community on the key economic questions of our time.
Marxian Economics: The Oldest Systems Theory Is New Again (or Always?)
The best new economic thinking in an age of the dominance of rent-seeking will be Marxian economic thinking
Why Understanding Money Matters in Greece
The solutions to Greece’s crisis challenge many existing economic paradigms, including the concept of “money” itself.
Behind Europe's Populist Backlash: The Hunger Games of Mainstream Economics
The turmoil of Brexit and the populist challenge across Europe are consequences of austerity policies that have brought misery to millions of ordinary voters. In this interview first published last January, Servaas Storm warned of the dangers of economic decision making divorced from democracy and from the social consequences of its prescriptions
By the Way, Why Does the History of the JEL Codes Matter ?
Full paper is here. Comments are much welcome.And because it’s an epic story (and because I suck at writing abstracts), here is an audio trailer. I thank Paul for his beautiful Memphis accent.
Why Keynes is Important Today
What Apple Should Do with Its Massive Piles of Money
An Open Letter to Tim Cook, CEO of Apple
Adam Smith's first - and last! - book: what rational choice?
I was going to call this blog post ‘Utility maximising agents in Adam Smith’s Theory of Moral Sentiments’ but realised that was much too dull - even if it accurately describes my bedtime reading at the present moment.
The Flummery of Capital-Requirement Repairs Since The Crisis
Government safety nets give protected institutions an implicit subsidy and intensify incentives for value-maximizing boards and managers to risk the ruin of their firms. Standard accounting statements do not record the value of this subsidy and forcing subsidized institutions to show more accounting capital will do little to curb their enhanced appetite for tail risk.