Economics and politics - comment and analysis

Manchester, London, Salafist fundamentalists, British weapons, vast markets

Daniel Read tells the story of William Dowell, an American reporter during the Bangladesh Liberation War of 1971. Dowell ran into problems of his own, soon deciding that his editors operated using a “calculus of death” to determine “newsworthiness.” In Dowell’s view this meant placing greater or less value on human lives, …

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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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An interview with Heiner Flassbeck on The Real News Network about Trump, free trade, stimulus, investment and wages

Heiner Flassbeck gave an interview to The Real News Network on February 21st. The interview is about Donald Trump’s policies, but it is actually much broader than just that. It deals with fundamental questions of what economics should be about – essentially simple questions that the mainstream ignores because in their ideological framework these questions cannot even be asked. …

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How to destroy neoclassical economics

Why neoclassical economics needs to be destroyed
Neoclassical economics hopelessly confuses many people. Personally, I felt better when Galbraith compared neoclassical economists to Randolph Churchill’s surgeons in one of Evelyn Waugh’s books – they found the only part of his body that was not malignant, …

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