Both neo-classical and Sraffian theory stand mute when it comes to money and accumulation under capitalist conditions. In both frameworks the central areas of “the theory of money and the theory of capitalist accumulation” are among “the difficult analytical problems” that “remain to be settled” … A profit flows based analysis of an accumulating capitalist […]
economics
Medan Piketty ser det ekonomiska systemet som en ojämlikhetsskapande faktor ser Waldenström marknaden som lösningen … Piketty och Waldenström är eniga om politikens, demokratins och utbildningens viktiga roll för den utveckling som skett mot ökad jämlikhet. Den stora skillnaden ser vi i inställningen till presenterade fakta. Waldenström säger att Pikettys analys är ”bitvis ideologisk”, men […]
En statsbudget i balans optimerar inte det reala resursutnyttjandet i ekonomin. Statsbudgeten och dess ramverk ska i stället verka för Sveriges bästa, så att tågen kan rulla och sjuka får vård, skriver Erik Arnell, utredare, Johannes Borgström lektor och docent vid Uppsala universitet och Peo Hansen, professor i statsvetenskap vid Linköpings universitet. Det gläder oss […]
We have already shown that deficit spending increases our collective savings. But what happens if Uncle Sam borrows when he runs a deficit? Is that wht eats up savings and forces interest rates higher? The answer is no. The financial crowding-out story asks us to imagine that there’s a fixed supply of savings from which […]
Sex av åtta riksdagspartier har nyss ställt sig bakom ett nytt stramt finanspolitiskt ramverk. Osagt i diskussionerna kring ramverket är en bakomliggande föreställning att staten fungerar som ett hushåll eller ett företag: Att det är osunt och riskabelt för staten att ”leva över sina tillgångar” och att dra på sig stora skulder. Att ”den som är […]
Poorer and lower-income households have a higher marginal propensity (MPC) to consume than richer and higher-income households. The more equal income and wealth are distributed, the higher the structural level of demand of an economy. A high structural level of demand in turn reduces the need for public deficits: full capacity utilisation is already achieved […]
Until [2008], when the banking industry came crashing down and depression loomed for the first time in my lifetime, I had never thought to read The General Theory of Employment, Interest, and Money, despite my interest in economics … I had heard that it was a very difficult book and that the book had been […]
Today’s model of delegation has much to recommend it. But it should not be cloaked in euphemism. It is an abrogation of democratic sovereignty for pragmatic reasons, conditioned on the one hand by deeply entrenched and unflattering assumptions about electoral politics and, on the other, on an unquestioning acceptance of the private organization of credit […]
Can it be truthfully said that “internal borrowing shifts the war burden to future generations while taxing places it on the present generation”? A thousand times no! The present generation must still give up resources to produce the munitions hurled at the enemy. In the future, some of our grandchildren will be giving up goods […]