Real-World Economics Review

from William Rees and current issue of RWER Introducing the human predicament We are cursed to live in interesting times. The human enterprise is in a precarious state of “ecological overshoot” propelled by excessive economic activity and growing populations. Eco-overshoot (hereafter, “EO”) exists when the human demand for renewable (self-producing) resources exceeds ecosystems’ regenerative capacities and waste discharges from people and their economies exceed ecosystems’...

from Asad Zaman This material is taken from first 15 minutes of Michael Hudson’s Webinar: a 4000-year perspective on economy, money and debt.These are real-world economics lessons, not found in textbooks.  Loans to 3rd World Meant for Control Michael Hudson’s First Wall Street Job was at Chase-Manhattan Bank. He was asked to Evaluate the ability of Latin American Countries to pay back their loans. The goal was to make new multi-billion-dollar loans to countries.  After doing the analysis,...

from James Galbraith and current issue of RWER Introduction Economics is a policy discipline. It is engaged with the problems, large and small, of social organization and the general good. As such it co-evolves with circumstances. It is historically contingent. The application of economic ideas to specific problems under specific circumstances may succeed or fail, and in the latter case, people with different ideas normally rise to prominence. Capitalism is an economic system whose...

from Edward Fullbrook and current issue of RWER “The world will not be destroyed by those who do evil, but by those who watch them without doing anything” – Albert Einstein. Falsification Science tells us that humankind is now in a state far more perilous than any it has ever known, perhaps ever imagined, and that its cause is the impact that the economy has come to have on planet Earth. Meanwhile the daily news tells us that around the world there is rapid acceleration – at least as...

from Neva Goodwin and current issue of RWER Twentieth-century economics pretended to be a value-free science. Among the values in fact adhered to and promulgated are two that turn out to be especially problematic: the goal of economic growth, and the elevation of consumerism. Growth is a macroeconomic issue, while consumerism plays out on the micro scale of individual motives, choices, and actions. Mediating between these are business enterprises, especially corporations. These are the...

real-world economics review issue no. 96 – Post-Neoliberal Economicsdownload whole issue The future: Thanks for the memories Jamie Morgan 2 Of Copernican revolutions – and the suddenly-marginal marginal mindat the dawn of the AnthropoceneRichard Parker 28 Post-economics: Reconnecting reality and morality to escape the EconoceneRichard B. Norgaard 49 What is economics? A policy discipline for the real world James K. Galbraith 67 Beyond indifference: An economics for the...

from Lars Syll Edward Snowden and Daniel Ellsberg. Bravest of the brave.