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A financial industry safety net enriches bankers and their shareholders — at our expense

Given the choice, would you accept to live in a society where happiness and prosperity is guaranteed for all on the condition that one single person be kept permanently unhappy? Is the well-being of thousands of people “worth” the sacrifice and suffering of a single innocent child? Such is the dilemma to which the inhabitants of the utopian city of Omelas are confronted in Ursula Le Guin’s philosophical short-story “The Ones Who Walk Away from Omelas”. In her parable, most people are ultimately able to come to terms with the atrocity. The few citizens who cannot end up walking away from the city — nobody knows where they go and they are never heard from again.

Getting rid of barriers to economic security is possible with the right policies at the right time. 

China’s successful technological development path stands in contrast to the corporate financialization model in the United States

Bernanke and Blanchard have made another failed attempt to salvage establishment macroeconomics after the massive onslaught of adverse inflationary circumstances with which it could evidently not contend.

By pushing workers into precarious, part-time work, “Third Way” governments of the past 20 years helped to create the disturbing economic trend that’s vexing orthodox economists

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

Summers discusses inequality, the GOP tax plan, and our economic future

Wishful thinking and tinkering won’t cut it. Nothing short of a mass mobilization for deep de-carbonization across the global economy can avert the looming climate catastrophe.

Thomas Piketty and his colleagues have insisted that tax records are better for measuring inequality than income surveys. They’re wrong.

Why did so many Dutch voters vote for the far-right Geert Wilders?

INET interviews Luigi Pasinetti

In this post, I would like to explore the views of preferences and behavior outlined in MWG Ch.1, and specifically the view of rationality developed in this first chapter.

Ransomware gangs have been causing extensive damage. It’s time that the government takes them more seriously.