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A post-Keynesian discussion of US economic hegemony: resilience or decline? (Part 2) Alan Prout In Part 1 we listed some long-term factors that contribute to…

The post A post-Keynesian discussion of US economic hegemony: resilience or decline? (Part 2) appeared first on Economic Reform Australia.

Neoclassical economics is known for its illicit use of garbled language which hides and convolutes instead of explains … An interesting example is the chapter by Edward Prescott, titled ‘RBC Methodology and the Development of Aggregate Economic Theory’. Let’s first give the floor to him, mind that ‘leisure’ means ‘measured unemployment’: “What turned out to […]

Wealth taxes don’t go far enough: Let’s transform our economy with public money Sheridan Kates Wealth taxes are crucial to build an economy that works for…

The post Wealth taxes don’t go far enough appeared first on Economic Reform Australia.

Kenneth Rogoff Is (almost) right about the importance of inflation -but entirely wrong about its management Susan Borden America’s debt problem is not what Foreign…

The post Kenneth Rogoff Is (almost) right about the importance of inflation appeared first on Economic Reform Australia.

Economics textbooks — scandalous intellectual dishonesty Lars Syll It is well-known that Keynes frequently criticised more traditional economics for committing the ‘fallacy of composition’. This…

The post Economics textbooks — scandalous intellectual dishonesty appeared first on Economic Reform Australia.

 
It happened on a weekend. While representatives of the two nations were still negotiating, a fleet of aircraft carriers from one of the negotiating parties approached the territory of the other.

Acting with cold premeditation, early in the morning of that fateful day, the attacking forces did their deed causing devastating damages on the other side.

As it turned out, the negotiations were merely a cover, a deception, to fool de victims. 

It was treachery.

But it worked.

The Global Financial Crisis from a flawed neoclassical perspective Steve Keen This is a critique by Steve Keen of Lee Ohanian’s paper “The economic crisis…

The post The Global Financial Crisis from a flawed neoclassical perspective appeared first on Economic Reform Australia.

The Doomsday Clock was effective Cold War theatre, but does it fail to convey the threat of today’s slowly unfolding existential crises?

The tendency to think of climate change as something in humanity’s future, as opposed to something that is unfolding now, in real time and with lethal consequences, has retreated a little in recent months.

Superficially, at least, David Rieff seems well placed to write a book about woke culture. For one thing, cultural criticism runs in the family: his parents were Susan Sontag and Philip Rieff – both intellectuals with a keen understanding of how subjectivities are shaped by social change. For another, his own work has often displayed an astute grasp of the fraught relationship between the historical, the political and the psychological.

My sense is that political cartoonists are finding it pretty difficult to encapsulate the events of the last two weeks in our sunburnt country girt by sea. Not because they are so depressing: a good cartoonist can always wring dark humour from a tragedy. But because they are so clearly self-satirising.

I thank Alessandra Panizza for taking the time to review Brave New Wild (Jan-Feb), and for her forthright defence of an alternative model of social and scientific development, but her review contains a number of claims (or implications) that misconstrue my argument.

After weeks of military threats, and despite ongoing negotiations over Iran’s nuclear program, the US and Israel have combined to rain bombs on cities across Iran.

The post Stop Trump and Israel’s bloody bombing of Iran first appeared on Solidarity Online.

Equations that mask inequality Barbara Williams Students of economics learn obedience to equations that mask inequality. That thought hit me while reading “The Justice Lie”…

The post Equations that mask inequality appeared first on Economic Reform Australia.

Uncertainty is central to Keynesian economics Steven Hail This item is extracted from Steven Hail’s 2018 book Economics for Sustainable Prosperity. The discussion relates to…

The post Uncertainty is central to Keynesian economics appeared first on Economic Reform Australia.

Can MMT save AI from catastrophe? John Alt A chief criticism of Modern Monetary Theory (MMT) is that it is inherently inflationary. The simple logic…

The post Can MMT save AI from catastrophe? appeared first on Economic Reform Australia.

Empathy, morality, civilisation and resisting tyrants Geoff Davies Are we just selfish brutes who need to be civilised into social, moral behaviour? If not, where…

The post Empathy, morality, civilisation and resisting tyrants appeared first on Economic Reform Australia.

The US and Israel claim to have killed Khameini. Iran says they missed. Either way it doesn’t matter much, the Iranian response of hitting US bases and Israel hasn’t been effected. They’ve also declared the Straits of Hormuz closed. If Khameini was killed, he is far more likely to be replaced by hawk than a […]

Use to discuss topics unrelated to recent posts. Nothing on the new Iran war, I’ll have a post up on that soon.

Renewables over 50%, wholesale prices down – is the energy transition … succeeding? Tony Wood Ten years ago, if a heatwave as intense as January’s record-breaker…

The post Renewables over 50%, wholesale prices down appeared first on Economic Reform Australia.

Janet Fielding on returning to film a mini-episode of Doctor Who that serves as a "sequel" to her final story, "Resurrection of the Daleks."

War with Iran has been the goal of both neoconservative and Zionist factions in Washington for decades. With an increasingly belligerent and erratic Trump in the White House, it could be that the warmongers finally achieve their dream.

The post Scott Ritter: US vs Iran: What War Would Really Look Like –Military Power, Oil Shock & Global Fallout appeared first on MintPress News.

The killing of drug cartel kingpin El Mencho has led to retaliatory violence in Mexico — much of it carried out with American-made guns.

The post Made-in-America Guns Are Fueling Death and Destruction in Mexico appeared first on The Intercept.