Because of the seriousness of the world situation, I have decided to get back in the business of doing interviews (which I do not enjoy doing). Here is a link to my interview (13/12/2022) on RT CrossTalk discussing “New Globalization?” In that connection, here is a link to a paper (written in 2018) titled “The […]
Read More »Comments on the history of the Review of Keynesian Economics on its tenth anniversary
This Fall (October/November 2022) marks the tenth anniversary of the founding of the Review of Keynesian Economics (ROKE). The founding co-editors were Louis-Philippe Rochon, Matias Vernengo, and I. At the beginning of 2018 Louis-Philippe Rochon stepped down to become sole editor of the Review of Political Economy and he was replaced by Esteban Pérez Caldentey. […]
Read More »The false promise and bitter fruit of Neoliberalism: political economic disembedding, cultural transformation, and the rise of proto-fascist politics
Neoliberalism is a political economic philosophy that consists of two claims, one economic and the other political. The economic claim is free market laissez-faire economies are the best way to organize economic activity as they generate efficient outcomes that maximize well-being. The political claim is free market economic arrangements promote individual liberty. This paper argues […]
Read More »Sabotaging Germany, blaming Russia: another view of the Nord Stream pipeline attack
Imagine Moscow was nuked yesterday, and this morning The New York Times ran a frontpage headline “Moscow nuked: Russia proves its hostility to Europe again”. Sounds pretty crazy? Yet, in a manner of speaking, that is what happened last week. On Tuesday September 27th three major leaks caused by undersea explosions were discovered in the […]
Read More »How the West betrayed Mikhail Gorbachev and seeded the Ukraine conflict
Mikhail Gorbachev died on August 30, 2022. Since then, praises have flowed from Western leaders. Those praises obscure how the West betrayed Gorbachev after he fell from power, and how that betrayal seeded the Ukraine conflict. The story is complicated because Gorbachev’s fall was triggered by Communist Party hardliners, so the troubles which befell Russia […]
Read More »Theorizing dollar hegemony, Part 1: the political economic foundations of exorbitant privilege
This paper explores dollar hegemony, emphasizing it is a fundamentally political economic phenomenon. Dollar hegemony rests on the economic, military, and international political power of the US and is manifested through market forces. The paper argues there have been two eras of dollar hegemony which were marked by different models. Dollar hegemony 1.0 corresponded to […]
Read More »Flirting with Armageddon: the US and Ukraine
It is now almost six months since the beginning of Russia’s invasion of Ukraine, and with each passing month the Biden administration has ratcheted up US participation in the conflict. That ratchet process has the US flirting ever closer with nuclear Armageddon, a momentous development that has gone almost uncommented and uncontested. It is as […]
Read More »The truth will out: the US, Russia, and Ukraine
Watch this (30 seconds long): The truth will out: George Bush speaking about Russia and Ukraine The truth is out about Iraq, and it will eventually out about Ukraine. The worst thing about this video is the fawning complicit response of the audience which speaks volumes about elite US society. Please share. P.S. Another 30 […]
Read More »Neoliberalism and the Road to Inequality and Stagnation: A Chronicle Foretold
My latest book has recently been published by Edward Elgar. The book explores the impact of neoliberal policies on the US, Europe, and the global economy. It shows how the 2008 financial crisis and Great Recession were predictable outcomes of the neoliberal policy experiment, as is the emergence of global “race to the bottom” competition. […]
Read More »More on the critique of New Developmentalism
Oreiro and de Paula’s (2022) reply to my article (Palley, 2021) further convinces me that New Developmentalism (ND) substantially misconstrues the development challenge and ND’s policy recommendations lean in a Neoliberal direction. The critique of ND is not its emphasis of the importance of manufacturing. It is the regressive inclination, the narrowness of policy recommendations, […]
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