Tag Archives: Economic History

Brad rates this as a should-read. For anyone interested in Keynesianism, Post Keynesianism and MMT, the history of economics, or economic theory, it is a must-read. Conventional economists have apparently concluded that they don't need to read it if they even thought about, which most probably haven't, being under the spell of the "normal paradigm" in spite of its poor results empirically.Washington Center for Equitable GrowthJohn Maynard Keynes: Essays In Biography Brad DeLong Here...

Is Bitcoin a bubble? It's a natural question to ask—especially after Bitcoin's price shot up from $12,000 to $15,000 this week. So we decided to ask a couple of experts on bubbles what they thought: Brent Goldfarb is a business professor at the University of Maryland, and William Deringer is a historian at MIT. Both have done research on the history and economics of bubbles, and they talked to Ars by phone this week as Bitcoin continues its surge. Both academics saw clear parallels...

Enclosure of the commons, aka "primary accumulation" and "privatization of state property," that is, public goods.Occasional Links & CommentaryThe goose and the commonsDavid F. Ruccio | Professor of Economics, University of Notre Dame

Political revolutions often bring swift regime change leading to short-run economic change, but the long-term consequences are less clear. Some argue that revolutions pave the way for capitalist market growth, while others argue they are only political in nature with limited economic consequence. This column uses extensive evidence from the French Revolution to show that the effects vary across the country and over time. The analysis speaks to questions of concern to developing countries...

The key element that distinguishes capitalist societies from previous forms of social organization is not the existence of markets or money but rather capital investment, the act through which basic elements of society and life—including natural resources, technological discoveries, cultural productions, urban spaces, educational institutions, human beings, and the nation-state—are transformed (or “capitalized”) into income-generating assets valued and allocated in accordance with their...

CCPA recommendations for a better North American trade model October 6, 2017The all-party House of Commons trade committee is consulting Canadians on their priorities for bilateral and trilateral North American trade in light of the current renegotiation of NAFTA. In the CCPA’s submission to this process, Scott Sinclair, Stuart Trew, and Hadrian Mertins-Kirkwood argue for a different kind of trading relationship that is inclusive, transformative, and […] Canadian Centre for Policy...

Wassily Leontief quote from "Theoretical Assumptions and Nonobserved Facts." Lars P. Syll’s BlogMainstream economics — like butter scraped over too much breadLars P. Syll | Professor, Malmo University

Business InsiderThe 5,000-year history of interest rates shows just how historically low US rates still are right now Elena Holodny

Comments on the 200 year world GDP chart linked to here at MNE previously.Naked KeynesianismReOrientMatias Vernengo | Associate Professor of Economics, Bucknell University

Asian economies are commended for improving their external balances and building self-insurance by accumulating large amounts of reserves. However, whether these would be sufficient to provide adequate protection against a reversal of capital flows is contentious. After the Asian crisis external vulnerability came to be assessed in terms of adequacy of reserves to meet short-term external dollar debt. However, short-term debt is not always the most important source of drain on reserves....