Real-World Economics Review

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.

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from Dean Baker In recent days, major fear has been evident in financial markets and elsewhere that the delta variant of the coronavirus will spread widely and be a considerable impediment to continued economic growth: On Monday, the Dow tumbled 700 points, for example. At least based on trends we’ve seen so far, these fears appear to be unfounded. It is highly unlikely that the delta variant will lead to shutdowns of major sectors of the economy, of the sort we saw last spring and...

from Lars Syll How would you react if a renowned physicist, say, ​Richard Feynman, was telling you that sometimes force is proportional to acceleration and at other times it is proportional to acceleration squared? I guess you would be unimpressed. But actually, what most mainstream economists do amounts to the same strange thing when it comes to theory development and model modification. In Dani Rodrik’s Economics Rules — just to take one illustrative example –the proliferation of...