Saturday , June 25 2022
Home / Tag Archives: Political Economy

Tag Archives: Political Economy

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, […]

Read More »

Theorizing varieties of capitalism: economics and the fallacy that “There is no alternative (TINA)”

The VoCs approach to capitalism has the potential to transform economics. It tacitly emphasizes the plasticity of economies, whereby their character and outcomes are significantly a matter of choice. This paper augments VoCs theory to include a distinction between varieties and varietals of capitalism. Drawing on biology, varieties correspond to species and varietals correspond to […]

Read More »

The most useful things on Russia-Ukraine I’ve read

Russia is a strategic petrostate in a double sense. It is too big a part of global energy markets to permit Iran-style sanctions against Russian energy sales. Russia accounts for about 40 percent of Europe’s gas imports. Comprehensive sanctions would be too destabilizing to global energy markets and that would blow back on the United States in a significant way. China could not stand by and allow it to happen. Furthermore, Moscow, unlike some major oil and gas exporters, has proven capable...

Read More »

2022 Godley – Tobin Memorial Lecture: Professor Paul Krugman, “The enduring relevance of Tobinomics”

The Review of Keynesian Economics is pleased to announce that Professor Paul Krugman will give the 2022 Godley – Tobin Lecture. Professor Krugman is Distinguished Professor of Economics at the Graduate Center of the City University of New York. He has also taught at MIT, Princeton University, and Yale University. Like James Tobin, Professor Krugman […]

Read More »

Federal Reserve Insider Dealing? R.I.P. Central Bank Independence

Federal Reserve Vice-Chair Richard Clarida has shot himself in the foot with what appears to be insider trading. That comes on the heels of prior concerns about inappropriate trading by regional Federal Reserve Bank Presidents Robert Kaplan and Eric Rosengren. Albeit unintentionally, the good news is these indiscretions may have done working families a favor […]

Read More »

‘The Political Economy of the COVID-19 pandemic’,S.Mavroudeas

Selected and revised papers from the proceedings of the ICOPEC 2021 Conference have been published by IJOPEC Publications in a ccollecctive volume titled ‘The Impact of COVID-19 pandemic on societies and economies’. I was an invited speaker at the conference and I contributed a paper titled ‘The Political Economy of the COVID-19 Pandemic’, which is included in this collective volume. The links to my paper are the following:...

Read More »