Sublime

As Larry Summers and J. Bradford DeLong would write in August 2001, just a month after the file-sharing service Napster was taken down, ‘the most basic condition for economic efficiency … [is] that price equal marginal cost.’ They went on: ‘with information goods, the social and marginal cost of distribution is close to zero.’ This held true not on

The title for the chapter on Japan is “A Bug in Search of a Windshield.” While the currency of the Land of the Rising Sun is very strong as we write, there are real structural reasons, as well as political ones, that lead us to predict that the yen will begin to weaken. At first, it will be gradual. But without real reform in government expenditure

Berne Declaration

to limit exposure to risk by building, like a hedge-fund manager, a diversified portfolio,

La stratégie rhétorique de Cortney consiste à recadrer la question, faisant d’un problème économique une affaire de droits de l’homme. Il établit un lien entre le contrôle des capitaux et le droit en tant que tel de quitter un pays. Parce que « le droit de quitter un pays est, à toutes fins pratiques, dépourvu de sens si l’on n’a pas le droit d’emp

In Minsky’s own words, ‘The tendency to transform doing well into a speculative investment boom is the basic instability in a capitalist economy.’

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