Free Market Power Put on Ice

by Gregory Jusdanis I got a new lesson on the force of narrative during the blackout that affected much of the mid-west and east coast in early July. It was the third time our own neighborhood had experienced an extended power outage in four years. This time, however, the...
Read MoreCapitalism may yet weather climate change…
Can capitalism effectively respond to climate change? This is the timely and critically important question posed by Peter Newell and Matthew Paterson at the beginning of their book, Climate Capitalism. It is the same question that motivated me to focus my own research on the topic of business and...
Read More‘Hirelings wandering round Europe’

Wladimir Klitschko and Jean-Marc Mormeck in the WBA-IBF Heavyweight titles, Düsseldorf, March 2012 by Àngel Ferrero In the amorality of capitalism, the alternatives for an emigrant are virtually reduced to cynicism or melancholy. Cigarette smoke snuck into clothes and wreathed tables, chairs, and walls of the bar in Neukölln,...
Read More‘Money never gets tired’

Barney Dodd and Chris Frank From Rolling Stone: The giant reform bill turned out to be like the fish reeled in by Hemingway’s Old Man – no sooner caught than set upon by sharks that strip it to nothing long before it ever reaches the shore. In a furious...
Read More‘What is needed is a theory of distribution’

Liberty Plaza, November 2011. Photograph by Sasha Kimel From Monthly Review: In the early 1980s, I began telling my students that growing inequality of income and wealth would become the dominant political issue of the future. I did not think that the future meant thirty years, but better late...
Read MoreFinancial repression measures seen thus far are but the tip of a very large iceberg…

As coined by Ronald McKinnon (1973), the term “financial repression” describes various policies that allow governments to “capture” and “under-pay” domestic savers. Such policies include forced lending to governments by pension funds and other domestic financial institutions, interest-rate caps, capital controls, and many more.
Read MoreCAPITALISM

by Vincent W.J. van Gerven Oei and Jonas Staal Introduction The following two works were produced by visual artist Jonas Staal and writer Vincent W.J. van Gerven Oei during a visit as artists in residence at The Bag Factory, Johannesburg, South Africa during the summer of 2010. Both works...
Read MoreCarl Wennerlind: Credit Alchemy!

by Carl Wennerlind When the philosopher Baruch de Spinoza received word of a successful transmutation of lead into gold in December of 1666, he quickly sought to quell his skepticism by personally visiting the adept, and the visit left him fully convinced of the veracity of the adept’s account....
Read MoreHayek’s review of the Treatise in Economica appeared technical in character, but it was politically charged…

The Theatre, LSE, c.1930. Photograph from LSE Library Collection From The Times Literary Supplement: In London, Robbins had experienced Keynes’s less attractive side. They had both been appointed to the Macmillan Committee on Finance and Industry, which was intended to find answers to the severe economic downturn then under...
Read MoreMichael Schiltz: Yen Blocism

We are living through ominous times. In the wake of the 2008 subprime crisis, the world economy has been battered by a series of profound shocks that have not been experienced since the 1930s.
Read MoreFlawedonomics

From Freakonomics, Cold Fusion, 2010 From American Scientist: The nonfiction publishing phenomenon known as Freakonomics has passed its sixth anniversary. The original book, which used ideas from statistics and economics to explore real-world problems, was an instant bestseller. By 2011, it had sold more than four million copies worldwide,...
Read MoreHedge Tip

John Bedford Lloyd playing the character Bill Clark (based on Henry Paulson), Wall Street: Money Never Sleeps, 20th Century Fox, 2010 From Bloomberg: Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July...
Read MoreAre the Chinese prone to money illusion?

China’s monetary policy and its inflation have got people talking – particularly about the effect on other countries. But what about its effect on China’s people? Are they fooled by money illusion?
Read MoreThe tea should be strong. For a pot holding a quart, if you are going to fill it nearly to the brim, six heaped teaspoons would be about right...
Read MoreThe thing about new blooms is that they tend to bleed— / Those petals birthed / hugging close / that come warmer weather are tricked into jumping away...
Read MoreI spent a good part of my childhood at home staring outside my bedroom window, following the trail of planes approaching the nearby Paris airport in the sky from my banlieue. I envied the passengers...
Read MoreThe tea should be strong. For a pot holding a quart, if you are going to fill it nearly to the brim, six heaped teaspoons would be about right...
Read MoreThe thing about new blooms is that they tend to bleed— / Those petals birthed / hugging close / that come warmer weather are tricked into jumping away...
Read MoreI spent a good part of my childhood at home staring outside my bedroom window, following the trail of planes approaching the nearby Paris airport in the sky from my banlieue. I envied the passengers...
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