5811 Results for “ https://www.galaxus.ch/en/sector/showdiscussion/snap-hack-online-visit-kunghaccom-d2d1mo9k-226342”

The argument that free trade is always the correct policy is based on a flawed welfare analysis. Free trade results in winners and losers and economists are not competent to analyze the impact on well-being as a whole or the spillover social consequences of the discontent of the losers.

The New York Times is having a “Room For Debate” discussion on its Opinion Page about how corporations should handle profits based on the Harvard Business Review article “Profits Without Prosperity” by William Lazonick of the University of Massachusetts Lowell, who is a grantee of the Institute for New Economic Thinking. The discussion features contributions by Bruce Greenwald, Peter Thiel, and Lazonick, among others. Lazonick argues that the capital being used for stock buybacks would be better spent on investment. Lazonick’s “Room For Debate” piece is below. To read the full discussion on The New York Times, click here.

The rescue of Cyprus was a microcosm of how the nations of Europe have failed to work together to adequately address their ongoing financial crises.

The Washington Consensus is dead.

“Third, U.S. taxpayers foot a huge portion of the bill for basic science leading to new drugs. The National Institutes of Health is the single largest source of biomedical research in the world. In fact, NIH funding contributed to research associated with every single new drug approved by the FDA from 2010-2019, totaling $230 billion according to a recent report.”

Under the guise of “philanthropy,” business elites have an increasing grip on society

Ten years ago, the investment bank Bear Stearns collapsed. Its controversial rescue by the Federal Reserve and JP Morgan Chase marked a prelude to the global financial crisis, which would begin in earnest in September 2008. As part of INET’s look back at the financial crisis, we offer this series of reflections on the Bear Stearns bailout, the financialization of debt, and the moral hazard of government bailouts of banks. 

The prevailing wisdom that aggregate demand ‘shocks’ determine short-run cyclical fluctuations around a supply-determined equilibrium growth rate and an associated equilibrium unemployment rate (or NAIRU) has been called into question by various streams of literature in the last decades. Specifically, a recently revived literature on hysteresis finds significant persistence in the effects of recessions and negative aggregate demand shocks (Blanchard et al. 2015; Martin et al. 2015).

Piero Sraffa’s classic work Production of Commodities by Means of Commodities has been variously interpreted as a special case of modern neoclassical general equilibrium or a foundation stone for the revival of the classical tradition of Smith and Ricardo.

How to become a historian of economic thought? Members of the profession gather just once a year at the annual conference of the History of Economic Society but otherwise are dispersed in universities and archives all around the world.

In preparing this paper I have decided not to embark upon the decades-old issue of optimal-currency areas and governance as such. I assume that one of my colleagues on the panel will do that. Instead I will present an historical case of over-indebtedness of parts of a common-currency area somewhat similar to the present challenge of Europe, or rather of the Euro area with its common currency.

I am supposed to speak about Complexity Economics and the issues this theoretical approach is able to illuminate. Defined as such, it appears as if I should discuss methodology and I am reminded of Paul Krugman’s quote: “It is said that those who can, do, while those who cannot, discuss methodology”. So, having a discussion centered on methodology may give the impression that the panelists in this session are unable to make scientific progress.

Kalecki challenged the structuralist view by pointing to the internal social class barriers to development, and the need to assure supplies of basic wage goods in order to avoid inflationary pressures that could derail the development process.

“For more on this methodology, see Wolff’s National Bureau of Economic Research paper Household Wealth Trends in the United States, 1962-2013” — Chuck Collins