It seems Mr. Ibbitson was in full campaign mode hoping that the debt hysteria he was busy whipping-up in the Globe and Mail would get him nominated for a Paul Krugman Very Serious Person (VSP) Award. Based on his performance … Continue reading
Category Archives: economic crisis
Looking for Dr. Goodpain? Check the Reflection in the Mirror Dr. Krugman
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Far be it from me to cast a pox on what has been one of the only few bright lights in the last few years but premises matter. In Krugman’s recent Looking for Mr. Goodpain he presents a reasonable derision … Continue reading
Putting lipstick on the PIIGS: the health of modern macroeconomics
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Ok, so some of the best economists, trained at elite institutions, working for the pinnacle of the of the financial world got it wrong, very wrong. How wrong? Just go ask a Greek citizen. But, of course, we all knew … Continue reading
The Return of the Very Cruel Economic System
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Chapter 7: From Experimental to Hegemonic Neoliberalism In the previous chapter I examined the theoretical turns which I argued amounted to the exhaustion of postwar reformism and the rise of the intellectual hegemony of neoliberalism. This chapter is principally concerned … Continue reading
Pilkington hits a home run
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You should go read it in full I am just going to skip to the money shot: It’s columns like this that demonstrate how technocratic (and anti-democratic) neoclassical economists actually are. They say they like freedom and all that – … Continue reading
Public Accountability, Central Banks and Fiscal Policy
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Alt title: I am very rude in comments. PS you need to click the link to get the full context. Dear Steve Randy Waldman, I take the silly idea of democratic accountability very seriously, more seriously than most economists take … Continue reading
Is Canada the ultimate MMT playground?
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Unlike other jurisdictions Canada has a sovereign currency and a central bank that is explicitly allowed to buy both federal and provincial debt. It is all right here in Article 18 of the Bank of Canada Act. 18. The Bank may … Continue reading
Stimulative Austerity and Pixie Dust : UK edition
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It has now been confirmed, the UK economy contracted in the fourth quarter by 0.2%. Leading the contraction was investment. This is important because much of the supposed logic of stimulative austerity was based on the incredulous belief that public … Continue reading
Gordon V Jackson: the corporate tax cut myth
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Apparently Stephen Gordon is having a hard time figuring out where Andrew Jackson, the chief economist for the CLC, got the bizarre idea that: The argument for corporate income tax cuts has been that increased after-tax corporate profits would be … Continue reading
Occupy Wall Street and Greenspan Shrugged
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Behind the subscription wall over at the FT the Greenspan has an opinion piece which at best reads as incoherent apologia and at worst as an attempted smoke screen covering his own responsibility for the run-up to the GFC. Given … Continue reading