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To connect across difference is the only thing that will save us from rule by the privileged few.

Over the next year, the Bitcoin price could double, soar tenfold, or collapse by 95% or more, and no economic analysis can help predict where in that range it will lie. Like other cryptocurrencies, Bitcoin serves no useful economic purpose, though in macroeconomic terms, such currencies probably also do little harm.

In introducing game theory (in chapters 7-9), MWG build upon the theory of rational choice by individual agents, developed previously in the book to attempt to analyze (describe, explain, and even predict?) the interactions of such agents as well as the outcomes to which they give rise. In previous chapters, MWG discuss interactions only in the form of the arms-length interactions of numerous firms and consumers in specific markets (e.g. under ‘perfect competition’, in chapters 3 and 5).

Learning How to Swap

In a harrowing new book, scholar Laura Katz Olson pulls back the curtain on a shadowy Wall Street threat that is taking over health care companies – and preying on human lives.

How much does the standard theory of externalities and public goods really say?

Five lessons from the last crisis — for managing the next one

Remarks from Finance & Society May 6, 2015

To fulfill MLK’s vision of jobs and freedom for Black Americans, Washington must rein in corporate greed

The BIS offers a comprehensive picture of the state of the world economy, and of dysfunctional policies holding it back

Eurocentric modernism has unhinged us from our human nature, argues Rajani Kanth in his new book

In Treasury markets, there are no libertarians, only grateful recipients of single-payer insurance for ailing financial markets.

Inflation and corporate profits, a further discussion

New research shows how citation metrics create perverse incentives for corruption in economics

The tail risks that may be generated by Mario Draghi’s monetary policy innovations in the Eurozone include even more intense versions of Andrew Haldane’s “Doom Loops”