Free markets and their discontents

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Why the Rich Get Richer and Interest Rates Go Down

A wrongheaded paper from the Jackson Hole conference that depends on the loanble funds fallacy lets central bankers off the hook.

Elite Educators Have Milked the System for Long Enough

Published by Anonymous (not verified) on Sat, 11/09/2021 - 2:44pm in

As the pandemic deepens inequality, it’s vital to dismantle the system that gives state schools no chance against elite peers

Neoliberalism Is Dying – Now We Must Replace It

From taming Big Tech to competing with China, Western governments are retreatig from neoliberalism. But what comes next?

‘America Has a Monopoly Problem’: Coalition Backs Legislation to Break Up Big Tech

Published by Anonymous (not verified) on Fri, 03/09/2021 - 11:55pm in

Anti-monopoly interests have proposed a series of bills to give regulators more power, particularly with respect to tech.

Behold the Watered Stock’s New Variant!

Back to the future! Welcome to the successor to a 19th century favorite, watered stock.

Michael Hudson v. George Soros on China’s Rejection of “Market” Capitalism

Published by Anonymous (not verified) on Wed, 01/09/2021 - 7:53pm in

Soros has a hissy over China's Xi no longer wanting to play nicely with foreign investors.

Imperialism Then and Now: Capital Relocation, Inequality, Encroachment and Protracted Crisis

On how imperialism enabled exploitation of labor in the global South, and then pressure on worker wages in advanced economies.

Could California End Up With a Trump-Like Governor?

Published by Anonymous (not verified) on Sat, 28/08/2021 - 6:09pm in

How much should Californians worry that Larry Elder, a politically inexperienced, hard core right winger, might become governor?

Imperialism Then and Now: Drain of Wealth, Depression, The Role of the State and Globalization

Yves here. This is the second section of the GPENewdoc historical series on imperialism and capitalism. You can find Part 1 here. By Lynn Fries. Originally published at GPENewsdocs Prabhat Patnaik explains how the colonial system led to depression. Then, in advanced countries governments stepped in to increase demand and productivity, but how unless the […]

Imperialism Then and Now: Wealth, Unemployment and Insufficient Demand

Prabhat Patnaik on imperialism and capitalism: to accumulate wealth, somewhere demand must be suppressed to provide cheap inputs.