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Can finance stop hindering and start helping the green transition?

Some years ago, in the aftermath of the “great financial crisis” (GFC) of the first decade of the twentieth century, Paul Krugman famously remarked that “most macroeconomics of the last thirty years was spectacularly useless at best and positively harmful at worst”. It is the premise of this set of lectures that it is possible to do better, much better.

The tragic crisis in Flint, Michigan, where residents have been poisoned by lead contamination, is not just about drinking water. And it’s not just about Flint. It’s about race and class, and the stark contradiction between the American dream of equal rights and opportunity for all and the American nightmare of metastasizing inequality of wealth and power.

The rising crescendo of bickering and acrimony within Europe might seem to outsiders to be the inevitable result of the bitter endgame playing out between Greece and its creditors. In fact, European leaders are finally beginning to reveal the true nature of the ongoing debt dispute, and the answer is not pleasant: it is about power and democracy much more than money and economics.

Today’s Financial Times article: Report to highlight alleged conflicts of interest in Goldman’s dealings (Jan 12, 2011), Goldman’s pieties insult our intelligence (Jan 13, 2011)

How to guide innovative AI efforts to increase labor demand and create better-paying jobs?

Pharmaceutical pushers like Purdue “couldn’t have done their dirty work” without America’s increasingly unbalanced economy

New evidence shows personal wealth interests drive Congressional votes

By suppressing important questions in favor of being cheerleaders for globalization, economists failed to influence the public conversation

Liquidity versus Solvency

“Last year, Weil and his former top adviser, Tanya Goldman, spoke with Law360 about their “concentric circles” model, laid out in a recent working paper published by the Institute for New Economic Thinking. They propose a three-tiered system that starts with a set of core rights linked to all types of work, like basic protections against unsafe conditions, discrimination and harassment, and nonpayment. The second tier of rights includes things like collective bargaining, and access to workers’ compensation and unemployment insurance, which businesses would have to provide unless they could affirmatively prove that their workers aren’t employees. The outermost tier of rights seeks to make benefits portable for workers facing uncertainty.” — Mike LaSusa, Law 360

New research points to critical role of public funding in drug discoveries and development for the last decade

Ed Pavlić discusses the role of music in communicating suffering and resistance in the African-American experience

The Implications of Xi’s Belt and Road Initiative for China and the World Economy