Tag Archives: Economics

The research note below is by my friend, Argentine economist Rubén Lo Vuolo. There are two features I especially value about it: (1) It shows it is a myth that the era of Neoliberalism is over and retreating. (2) Lo Vuolo’s “language” is analytically accurate and powerful, and it is strikingly different from that of […]

Below is a link to an article by Argentine political economist Rubén Lo Vuolo on the environmental crisis in Argentina. He forcefully links the crisis with class interest. In my view, that is how it must be situated and analyzed, and that is the only way we will succeed in reining it in. Unfortunately, that […]

Argentina is back in the news with renewed financial turmoil spurred by President Milei’s poor political standing. That poor standing is the product of anger with Argentina’s dire economic performance and massive corruption within Milei’s administration, and it augurs poorly for his party’s performance in the forthcoming October 2025 election. In response, the IMF and […]

This summer I have been reading selections from Antonio Gramsci’s Prison Notebooks. The Gramscian construct of cultural hegemony is brilliantly insightful and something every political economist should be aware of. The notebook entries are also very akin to blogs in construction and length. Given my recent suspension by the Post Keynesian Economics Society (PKES) for […]

This paper presents a theory and model of long-run cycles in income inequality. The model explains the historical pattern of income distribution identified by Kuznets (1955) and Piketty (2014). It breaks with conventional marginal product theory which claims functional income distribution is determined by the technological conditions of production. Instead, it emphasizes the role of […]

(1) The Post-Keynesian Economics Society (PKES) committee has posted a second more detailed public statement seeking to justify my suspension. In my view, their new statement further obscures the issue and is even more misleading. The only thing that matters is did the article (“The Ukraine war and Europe’s deepening march of folly”) which triggered […]

Last week I e-mailed a note titled “Goodbye pluralism: cancelled Post Keynesian style” which detailed my suspension by the Post Keynesian Economics Society (PKES). That suspension unjustly sanctioned me for an earlier e-mail announcement of my article “The Ukraine war and Europe’s deepening march of folly”. The PKES has now responded, claiming I violated its […]

The German parliament today, after heated debate, approved the much discussed debt package worth hundreds of billions of euros for defence and infrastructure. With the necessary two-thirds majority, the parliament in Berlin passed a constitutional amendment allowing defence and security expenditures to be exempt from the Schuldenbremse (debt brake). The previously strict debt rules for the federal states will also be relaxed. Better late than never. Keynes is alive and...

What’s wrong with economics — a primer This is an important and fundamentally correct critique of the core methodology of economics: individualistic; analytical; ahistorical; asocial; and apolitical. What economics understands is important. What it ignores is, alas, equally important. As Skidelsky, famous as the biographer of Keynes, notes, “to maintain that market competition is a self-sufficient ordering principle is wrong. Markets are embedded in...

I Sveriges vassaste ekonomipod — Starta pressarna — diskuterades igår socialdemokraternas utspel om att inrätta en ny ‘Totalförsvarsfond’ om minst 250 miljarder kronor som ska göra det möjligt att tidigarelägga investeringar och påskynda utbyggnaden av Sveriges försvar. På många sätt är detta så klart ett bra förslag — men också lite sorgligt att det skulle till en galen USA president och krigshot för att  socialdemokratins ledning skulle ta sitt ‘statsbudgetförnuft’ till...