Monday , September 16 2019
Home / Tag Archives: Free markets and their discontents

Tag Archives: Free markets and their discontents

Dude! Where’s My Democracy?

By Kevin Albertson, Professor of Economics at Manchester Metropolitan University with a background in statistics and political economics. He is co-author of five books, including the Haynes Guide ‘How to Run the Country’. Originally published at openDemocracy Democracy is unwell, so it is said. In America and other leading democracies citizens are apparently increasingly critical of the concept of liberal democracy. We argue this is a misdiagnosis; citizens are not critical of liberal...

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Majority in US Back Free College Tuition and Student Debt Cancellation, New Poll Finds

Yves here. As we’ve said for many years, positions widely depicted by the press as left-wing, such as strengthening Social Security and Medicare, cutting military spending, making taxes more progressive, have consistently polled with solid majorities or at worst, pluralities. And the poll that found broad support for cancelling student debt and free college tuition was a solid sample size. But I’m not holding my breath about the MSM giving these results the play they deserve. By Judy Conley,...

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48 States to Investigate Google: Anti-Trust or Politicking?

Yves here. Sadly, you can never be too cynical. Bill Black explains on The Real News why the 48 state investigation of Google may not be all it is cracked up to be. GREG WILPERT: Welcome to The Real News Network. I’m Greg Wilpert in Baltimore. Fifty Attorney Generals from 48 states, the District of Columbia and Puerto Rico announced on Monday that they are launching an anti-trust investigation into Google. This investigation would be in addition the one that the Justice Department’s already...

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Kalecki, Minsky, and “Old Keynesianism” Vs. “New Keynesianism” on the Effect of Monetary Policy

By Tracy Mott, Professor, University of Denver. Originally published at the Institute for New Economic Thinking website In a postco-authored with Anna Stansbury, Larry Summers repudiates economic orthodoxy in regard to whether interest rate cuts suffice to restore full employment and looks at a more “original” Keynesianism to find adequate responses to secular stagnation. Tracy Mott walks us through answers many careful readers of Kalecki, Keynes, Steindl, and Minsky knew all along. A version...

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Richard Murphy: Brexit Yellowhammer Is Wrong, but That Doesn’t Mean We Should Ignore It

Yves here. Even I am suffering a bit of Brexit fatigue. So many momentous things are happing that it’s easy to become desensitized. But some things, like the Yellowhammer “Reasonable Worst Case” document, turn out to be damp squibs. If you’ve been following Brexit, this document’s take isn’t that surprising, although it does have a couple of remarkable dot points on the first page that discuss bilateral deals with individual EU member states as if that were a realistic option. But as Lambert...

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The Two Sides of Government Guarantees for Banks

By Taneli Mäkinen, Advisor, DG for Economics, Statistics and Research, Bank of Italy, Lucio Sarno, Professor of Finance, Cass Business School, City, University of London, and Gabriele Zinna, Advisor, DG for Economics, Statistics and Research, Bank of Italy. Originally published at VoxEU During the recent financial crises, government helped reduce the funding costs of banks by providing them with insurance, thus curbing panic in banking systems and financial markets. This column argues,...

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States Pass Record Number Of Laws To Reel In Drug Prices

Yves here. These efforts to tackle drug price gouging are long overdue, but a state-by-state effort is still piecemeal. But another dirty secret seems to be how arbitrary the consumer price is. I don’t have a pharmacy plan, but my meds are covered, which means I see what the prices are because I pay them and then submit for reimbursement. I recently had to have my 2 scrips filled at a different pharmacy chain. One is a super cheap generic. The other is more costly. I get 90 day scrips to...

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Who’s Responsible for the Ecocide in the Amazon

Yves here. This post makes what may seem to be a basic point about the hidden hand of ideology and corporate backers, but it is interestingly often lost. Plus the “ecocide” frame is important. By Juan Manuel Crespo, an Ecuadorian sociologist, political scientist and photographer. He is engaged in action-oriented social research at the Institute of Higher National Studies of Ecuador and has worked in the Amazon for many years. Originally published at openDemocracy There’s a cause for alarm as...

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Is it Really “Full Employment”? Margins for Expansion in the US Economy in the Middle of 2019

Yves here. This post is particularly timely given the seeming disconnect between weak job creation but headline unemployment holding rock steady. We’ve described some of factors that make employment conditions less rosy than they seem, such as that job creation has overwhelmingly been in relatively low-skill, poorly paid positions, and that the level of involuntary part-time employment is high. But get a cup of coffee. This is a very readable but also comprenensive treatment of this topic. By...

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R.I.P. Immanuel Wallerstein, Sociologist and “World Systems” Theorist

By Lambert Strether of Corrente Immanuel Wallerstein, author of The Modern World-System (Volume I, 1974[1]), Historical Capitalism (1983), The Decline of American Power (2003), and 30 other books, died on August 31 of this year. He was 89 years old. Oddly, or not, although he was a Senior Research Scholar at Yale, was head of the Fernand Braudel Center for the Study of Economies, Historical Systems and Civilization at Binghamton University, and received the Career of Distinguished Scholarship...

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