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A look behind the scenes of the Greek referendum and what could happen next.

This research project seeks to develop a theory of how bubbles and crashes can arise even when all agents are rational, informed, and trading in perfect markets.

We continue to learn about what the Fed did during the crisis.

Since the 1980s, the enemy of equal employment opportunity through upward socioeconomic mobility has been the pervasive and entrenched corporate-governance ideology and practice of maximizing shareholder value.

Mott walks us through answers many careful readers of Kalecki, Keynes, Steindl, and Minsky knew all along.

Real existing neoliberalism as a set of social facts distinct from a purist ideology has proven remarkably adaptable and politically resilient 

The removal of term limits for Xi Jinping may be a better indicator of economic health—or crisis—than official statistics

“Best of Mankiw: Errors and Tangles in the World’s Best-Selling Economics Textbooks Peter Bofinger, former member of the German Council of Economic Experts [Naked Capitalism January 4, 2021] Mankiw has been lambasted a number of times by Adbusters, the Canadian group which originated the call for mass protests that became Occupy Wall Street. Also see Toxic Textbooks: “Mankiw’s textbook seems an ideal place to look for clues as to how both the economics profession and the public which it educates became so ignorant, misinformed and unobservant of how economies work in the real world.” The problem with the leadership of the Democratic Party at the state and national levels is not the caricature of maliciousness that the Trumpists believe, and which the Republicans have used to “feed red meat to their base,” but merely that the leadership has been taught, and believes and swills, the snake oil Mankiw peddles. Below, just a small sample of Bofinger’s detailed take-down of Mankiw.” — NB Books Community, Daily Kos

When people recognize just how dangerous covid is, they worry more about the economy

Last Spring Larry Summers wounded Thomas Piketty in a friendly embrace.

The “War on Poverty,” and the impact of public policy

Considerable academic and public attention has been drawn to the pulling away of the very rich—the so-called “one percent” whose gains have far outpaced those of everyone else (Piketty 2014). But the debate has reached well beyond the very top, especially in the United States.Indeed, the hollowing out of the middle class, continuing stagnation of wages, and new evidence on the lack of upward mobility across generations all strike at the very heart of the American ideal.

Despite the moral assurance and personal flattery that meritocracy offers to the successful, it ought to be abandoned both as a belief about how the world works and as a general social ideal.

Policies based on faith in the “market” as a principle of social organization have wrought havoc with a founding principle of American democracy

“School choice” aimed to block the choice of equal, integrated education for Black families