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Krugman is pushing policies that require high real income growth, precisely when real income growth is relatively low. He is putting the cart before the horse and asking for some burdensome policies precisely when they would be toughest to bear.
Tyler Cowen • The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton
Maybe more important than knowing that for sure right now is knowing what the new rules of the road should be for a political economy that is both pro-working-class and globalized.
Nancy Fraser • The Old is Dying and the New Cannot Be Born: From Progressive Neoliberalism to Trump and Beyond
the ability of portfolio investors to move money unfettered across national borders is a matter of controversy among economists, much more so than is the freedom of trade in goods. With regard to this aspect of global capitalism, the Argentine crisis underlines the need for major repair. It points inexorably to the conclusion that government effort
... See morePaul Blustein • And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
... See moreNeoliberals’ political analysis was even worse than their economics, with perhaps even graver consequences. Friedman and his acolytes failed to understand an essential feature of freedom: that there are two kinds, positive and negative; freedom to do and freedom from harm. “Free markets” alone fail to provide economic stability or security against
workfutures • Doing Too Little
danwang.co • Definite optimism as human capital
Keynes.
Kate RAWORTH • La Théorie du donut
Economists often debate about what the change means. The most pessimistic interpretation, advanced by economists including Jeffrey Sachs of Columbia University, is that the pattern reflects profound structural problems in the American economy: among them, increasing competition from other countries, an imbalance between the service and manufacturin
... See moreNate Silver • The Signal and the Noise: Why So Many Predictions Fail-but Some Don't
Soon growth was portrayed as a panacea for many social, economic and political ailments: as a cure for public debt and trade imbalances, a key to national security, a means to defuse class struggle, and a route to tackling poverty without facing the politically charged issue of redistribution.