Die Koalition gefährdet mit ihrem Haushalt die finanzielle Stabilität, sagt der Wirtschaftsprofessor Lars Feld, der Christian Lindner beraten hat. Jens Südekum, der Berater von Lars Klingbeil, entgegnet: Deutschland muss ins Risiko gehen. ZEIT: Das Institut für Weltwirtschaft in Kiel hat errechnet, dass die Schuldenquote bis zum Jahr 2040 auf bis zu 118 Prozent des Brutto-inlandsprodukts […]
economics
Mill provides a good illustration of the tension between fallibilism and anti-foundationalism. Mill’s first principles are supposed to be empirical and not necessary truths, but for economics to be an empirical subject at all, they have to be beyond genuine doubt, since they provide the only empirical element in an otherwise deductive system. The certainty […]
. One of the most valuable contributions of Modern Monetary Theory (MMT)—particularly from a European perspective—is how clearly it exposes the fundamental flaws of the euro experiment. The neoliberal dream of a supranational currency detached from national fiscal sovereignty simply does not align with economic or political reality. In times of crisis, a state must […]
The more I learned about economics, the more I discovered a landscape that is surpassingly strange. Like the land of Mordor, it is dominated by a single theoretical edifice that arose like a volcano early in the 20th century and still dominates the landscape. The edifice is based upon a conception of human nature that […]
The parallelism between economic laissez-faire and Darwinianism … is very close indeed. Darwin invoked sexual love, acting through sexual selection, as an adjutant to natural selection by competition, to direct evolution along lines which should be desirable as well as effective, so the individualist invokes the love of money, acting through the pursuit of profit, […]
During my whole career, I have considered myself somewhat of a schizophrenic, which might be a universal characteristic. On the one hand, I was interested in science qua science, and I have tried — successfully I hope — not to let my ideological viewpoints contaminate my scientific work. On the other, I felt deeply concerned […]
Givet de omfattande behoven är det inte underligt att allt fler röster höjs för en mer expansiv finanspolitik. Det tidigare överskottsmålet, vars syfte var att skapa en buffert för kommande ekonomiska kriser, har nyligen slopats vilket frigör 20–25 miljarder kronor. Likaså har en ökad statlig upplåning redan aviserats, till exempel vad gäller kärnkraft och försvar. Risken […]
. As always, Murphy’s video masterfully distils abstract economic concepts into clear, jargon-free explanations, making complex issues accessible to non-experts and relevant to everyday life. In so-called ‘modern’ macroeconomics—whether in the form of Dynamic Stochastic General Equilibrium (DSGE), the New Synthesis, New Classical, or ‘New Keynesian’ models — economic variables are treated as if they […]
15th of May 2025 As John Lanchester recently remarked (LRB 27 April 2025) ‘However little money there is for anything else, there’s always enough money for a war’. The failures of neoliberal economics threaten all kinds of political backlashes, some of which have already been seen in the nationalist turn of international relations. ‘Military Keynesianism’ … Continue reading Military Keynesianism?
Thomas Piketty has finally discovered — mirabile dictu — something called ‘unequal exchange’. Impressive, indeed … But perhaps he should take a look at this 50-year-old book by Arghiri Emmanuel: Or why not have a look at this 25-year-old book by Alf Hornborg: