Tag: Free markets and their discontents

Airbus and Boeing Are Signing Economic Suicide Pacts With China

By Marshall Auerback, a market analyst and commentator.Produced by Economy for All, a project of the Independent Media Institute Airbus is considering whether or not to shift the assembly process of its latest generation of A330 planes to China as part of a bid to increase its market share in the world’s fastest-growing civil aviation […]

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Work of the Past, Work of the Future

By David Autor, Ford Professor, MIT Department of Economics. Originally published at VoxEU Labour markets in US cities today are vastly more educated and skill-intensive than they were 50 years ago, but urban non-college workers now perform much less skilled work than they did. This column shows that automation and international trade have eliminated many […]

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Costly Confusion: Patients Caught by Medicare Not Covering Annual Physical Exams

Yves here. This post presents a classic example of why medical care in America sucks. It’s too much about billing and not enough about patient care. Even your humble blogger, who has a 30+ year old indemnity plan (as in I can go to any doctor in the world, I’m not in a network) that […]

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Brexit Delay Will Not Postpone Deglobalisation

By Peter A.G. van Bergeijk, Professor of International Economics and Macroeconomics, Institute of Social Studies, Erasmus University. Originally published at VoxEU Many associate Brexit and the Trumpian trade wars with the start of a new phase of deglobalisation. This column argues that we should view them as symptoms rather than causes, as the world had […]

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What Republicans and Billionaires Really Mean When They Talk About ‘Freedom’

Yves here. This post focuses on an important slice of history in what “freedom” has meant in political discourse in the US. But I wish it had at least mentioned how a well-funded, then extreme right wing effort launched an open-ended campaign to render US values more friendly to business. They explicitly sought to undo […]

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Technology: From Copycats to Innovators

By Richard Vague, Managing Partner, Gabriel Investments and Chair, The Governor’s Woods Foundation. Originally published in Democracy; cross posted from the Institute for New Economic Thinking website In 1787, in his capacity as secretary of the Pennsylvania Society for the Encouragement of Manufactures and the Useful Arts, [Tench] Coxe had provided support for a British […]

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Bill Black: The Day Orthodox Economists Lost Their Minds and Integrity (#MMT)

Yves here. I’m behind reposting Bill Black’s series debunking the barrage of intellectually dishonest attacks being launched against MMT. I’m skipping over his fourth piece, Four “Tells” That Show Krugman Knows He Cannot Win an Honest Debate, but urge you to read it as well. By Bill Black, the author of The Best Way to Rob […]

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“Middle Class” Once Meant Stability and Now Means Fragility

By Alissa Quart, Executive Editor, Economic Hardship Reporting Project. Cross posted from the Institute for New Economic Thinking website feel that being middle class is not what it once was and that we are all running in place as fast as we can to stay the same, to quote Alice in Wonderland’s Red Queen,” Brenda […]

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Outsourcing Giant Interserve with 65,000 Employees Collapses

Yves here. Forgive us for being a bit heavy on UK stories, but it is proving to be a case study in how end-state neoliberalism produces incompetence and corruption. As Don Quijones described, the failure of a second major outsourcing player in barely more than a year provides strong evidence that the UK approach to […]

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Of Course We Can Pay for a Green New Deal, but We Can’t Escape Hard Choices

Yves here. This post on the Green New Deal highlights an issue that hasn’t come close to getting the attention it warrants: the operational and organizational demands. However, it’s odd that the author does not consider revenue sharing, a program launched by that great American socialist Richard Nixon. Nixon believed that the federal government was […]

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Bill Black: Three Natural Experiments Documenting Krugman’s Bias Against MMT

By Bill Black, the author of The Best Way to Rob a Bank is to Own One, an associate professor of economics and law at the University of Missouri-Kansas City, and co-founder of Bank Whistleblowers United. Originally published at New Economic Perspectives Third article in a series on MMT[1] I urge readers to review Scott Fullwiler’s brief […]

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MMT Responds to Brad DeLong’s Challenge

By L. Randall Wray, a professor of economics at Bard College. Originally published at New Economic Perspectives In recent days MMT has captured the attention of anyone who can fog a mirror—even those long thought dead. The critics are out in full force—from the crazy right to the insular left. A short list includes Doug […]

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Bill Black: MMT Takes Center Stage – and Orthodox Economists Freak

By Bill Black, the author of The Best Way to Rob a Bank is to Own One, an associate professor of economics and law at the University of Missouri-Kansas City, and co-founder of Bank Whistleblowers United. Jointly published with New Economic Perspectives First Article in a Series The massive, coordinated assault on […]

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Boeing Crapification: Second 737 Max Plane Within Five Months Crashes Just After Takeoff

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Yesterday, an Ethiopian Airlines flight crashed minutes after takeoff, killing all 157 passengers on board. The crash occurred  less than five months after a Lion Air jet […]

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Bill Black Analyzes Brad DeLong’s Stunning Concession: Neoliberals Should Pass the Baton and Let the Left Lead

Jerri-Lynn here. The times they are a’changin. In this Real News network interview, Bill Black analyzes Brad DeLong’s stunning concession that neoliberals should get out of the way and let the left lead since their coalition with Republicans did not work. Black is the author of The Best Way to Rob […]

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Charter School Cap Efforts Gain Momentum

By Matthew Gardner Kelly, Assistant Professor of Education, Pennsylvania State University. Originally published at The Conversation From California to Wisconsin, efforts to stop charter school growth are gaining momentum. In the April 2019 mayoral election in Chicago, both candidates say they want to halt charter school expansion. Financial issues lie […]

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The Doomsday Economics of ‘Proof-of-Work’ in Cryptocurrencies

Yves here. An important post, in that it describes fundamental limits of cryptocurrencies, namely, the high cost of transaction verification, which is destined to reduce their liquidity. By Raphael Auer, Principal Economist, Bank for International Settlements. Originally published at VoxEU Bitcoin and related cryptocurrencies are exchanged via simple technical protocols […]

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Cities And Counties Unlikely To Heed FDA Warning On Importing Foreign Drugs

Yves here. I found this article more than a bit frustrating, in that it didn’t clarify the legal and medical issues regarding ordering drugs from foreign suppliers. I’m not sure whether this is due to the author being too close to the subject matter or a Kaiser Health News editorial […]

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#MeToo Whistleblowing Is Upending Century-Old Legal Precedent Demanding Loyalty to the Boss

Yves here. I have to confess that I didn’t know that legal protection for whistleblowers is a relatively new development. By Elizabeth C. Tippett, Associate Professor, School of Law, University of Oregon. Originally published at The Conversation When was the last time you agreed to keep a secret? Perhaps it […]

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Do Real Estate Markets Make Our Cities Less Livable?

By Aaron Freedman, Communications Strategist & Economics Editor, Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website Economics Editor Aaron Freedman talks to Samuel Stein, a geography PhD candidate at the City University of New York Graduate Center and an Urban Studies instructor at […]

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