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
Category Archives: monetarism
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
Trying to get burned at the stake: heretical Easter edition
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Me, I like heretics. Sure hanging out with heretics and being a heretic is fraught with danger: a certain tendency towards a merely reactionary or contrarian stance, a pension for wasting time by reinventing the wheel and merely convincing yourself … Continue reading
Doubts about the NAIRU: Robert Solow Edition
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I have been working on the macro debates of the 1970s. They are very interesting and have many parallels to and connections with the great macro debates in the wake of the massive financial market failure of 2007-2008. I just … Continue reading
Might this Time be Different? Modern Monetary Controversy and the Cambridge Capital Controversy
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The Post Game Analysis at Heteconomist motivated this post because they argued that: … at root the current discussion may ultimately go all the way back to the capital debates. The New Keynesian view, at least implicitly, seems to be … Continue reading
Summary notes on the monetary front
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A reasonable attempt to clarify what was accomplished via Mike Norman Economics Edward Harrison — Endogenous or exogenous money? I think the real difference between what Nick Rowe is saying and what people like Scott Fullwiler and Steve Keen are saying is that Nick … Continue reading
Not a Mensch: Krugman edition
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This is Krugman’s best effort at setting the record straight: Um, we fail undergrads for such low levels of integrity and high levels of obfuscation. Now when I read Krugman, I will have to check all his sources particularly when … Continue reading