http://opinionator.blogs.nytimes.com/2013/01/19/inequality-is-holding-back-the-recovery/?hp

Joseph Stiglitz is a Nobel Prize-winning economist. Critical of both the Obama and Bush administrations’ bailouts of banks and other ( Read more... )

Does the Nobel Prize committee work on some kind of counter-intuitive principles? They gave Barak Obama a Peace Prize, now they give the prize for economics to two guys whose work "has been adopted by researchers and policymakers around the world ...”? Don't they read the business pages?

Obama was running two wars at the time and some murky ( Read more... )

"They’re Running the Economy Into the Ground" -Discrediting Neoliberal Alternatives

[The following is a slightly revised-and-updated version of an article appearing in the September/October issue of NACLA Report on the Americas.]

Washington policy makers and their loyal press corps have a well-developed toolkit for discrediting foreign governments ( Read more... )

http://www.american.com/archive/2010/august/when-labor-is-capital-the-limits-of-keynesian-policy

You know an economic system is in trouble when even its so-called experts can’t fix it. The above article is noteworthy however, not for its attempt to explain and resolve the current crisis, but for its clear repetition of the fundamental flaw in ( Read more... )

If I told you the statement “war is robbery, commerce is cheating” appears in Vol. 1 of Capital by Karl Marx it probably wouldn’t surprise you. But it might, if I point out that Marx is quoting Benjamin Franklin. He actually gets several mentions in the book. Since January marks his birth I thought I’d write a little appreciation of the original ( Read more... )