Growth and GDP: don’t mention the G-Words - Geoff Davies A recent exchange between Jason Hickel and Dean Baker on whether humanity can have a viable future and still have ‘economic growth’, nicely highlights the way old concepts and words can trap us in unproductive debate and action. The … [Read more...]
Our world does not operate as a pure market economy and neoclassical economics cannot explain it
Our world does not operate as a pure market economy and neoclassical economics cannot explain it - Dave Elder-Vass We tend to take it for granted that our economy is a market economy. Main- stream economics is particularly committed to that idea. And its core concepts depend on it: supply and … [Read more...]
20th anniversary of the euro — no reason for celebration
20th anniversary of the euro — no reason for celebration - Lars Syll When the euro was created 20 years ago, it was celebrated with fireworks at the European Central Bank head- quarters in Frankfurt. Today we know better. There are no reasons to celebrate the 20-year anniversary. On the contrary. … [Read more...]
What is wrong with mainstream economics?
What is wrong with mainstream economics? - Editor The following notes were developed from "Five fundamental propositions about orthodox economics" which appeared recently in a blog by Asad Zaman *. The basic points listed might be startling to the general public but would be familiar to heterodox … [Read more...]
