Economics and politics - comment and analysis

Are Keynesianism and Neoclassical economics antipodes?

Are Keynesianism and Neoclassical economics antipodes?
by Heiner Flassbeck
Keynesianism and neoclassical theory are often seen as the two main approaches in economic theory. Many assume that the large gap that exists between the two approaches or schools can be bridged by a middle oft he road approach based on pragmatic assumptions and empirical research. …

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Japan’s system, capital allocation, respect, mimetic eagerness and sustainability. Part 2. Can mimetic eagerness be a beneficial social force?

Introduction
I explained in Part 1 that economic rewards are not the only effective incentives for economic action. A successful economy requires motivating effects, which are pay differentials and opportunities to accumulate wealth. But these financial rewards are not the end of the story and economic rewards operate in a social context that can be as effective as cash. …

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Japan’s system, capital allocation, respect, mimetic eagerness and sustainability. Part 1: Japan’s macroeconomic architecture

Introduction
I just finished reading Thorstein Veblen’s The Theory of the Leisure Class (first published in 1899) and will write up an article on it soon. For now, apart from Veblen’s analysis of the nature of work, I have one other criticism: his distinction between the super-rich, …

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Sixty years of Europe: the EMU crisis, the Brexit and the PRIME proposal to reform the European institutions

Introduction
The European Commission published a report in which it presents five scenarios for the EU’s future: carrying on with the current agenda, focusing just on the single market, allowing some countries to move faster than others toward integration, narrowing down the agenda, …

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