Monthly Archives: March 2013

Falsifiability anyone?

Ask a neoclassical economist this: Take any actually existing economy. What action would your model recommend and what result would make you abandon your model? Southern Europe was told by these intellectual clowns that their economy would magically heal once … Continue reading

Posted in Uncategorized | 1 Comment

Michael Hudson “Government Debt and Deficits Are Not the Problem. Private Debt Is”

The invaluable Michael Hudson illustrates the political economic consequences of the conversion of the American working class into a rent-servicing one: “When it comes to analyzing comparative advantage among nations, the key no longer is food or prices for other … Continue reading

Posted in Uncategorized | Leave a comment

Why is there job growth amidst austerity?

236,000 jobs were added in February. Now, while this sounds like “good news,” let’s not get too excited too quickly. Even if these numbers hold up and even if this rate of job growth continued every month for the foreseeable … Continue reading

Posted in Economy, Theory | Tagged | Leave a comment