A few comments on Paul Krugman winning the so-called Nobel Prize for Economics. He may be left-of-centre and a Keynesian, but his economics are sadly very much neo-classical in nature.
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Topic: Economy
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Review: After the New Economy
Review of an excellent book on the 1990s “New Economy” hype.
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Capitalism in crisis, again!
Some comments on the continuing crisis in the stock markets, discussing how economic ideology contributed to it and how capitalism has always been based on socialising costs and risk while privatising profits.
We wanted this debate today (WSM Ideas & Action 31 March 2001) because we recognise that we share a considerable number of points of departure with those who advocate local sustainable development from an environmental rather then a nationalistic perspective. The idea for the session came out of a discussion I was having a couple of months ago with some of the activists involved in the S26 collective. They were a little annoyed at the description of the movement against corporate globalisation being labelled ‘anti-capitalist’, as this was not how they choose to define themselves.
Credit crunch? Crunch capital! Why the stock market is a crazy way to organise an economy.
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Review: Debunking Economics
Debunking Economics: The Naked Emperor of the Social Sciences
Review of an excellent book on the weaknesses of neo-classical economics.
Why working class people need not pay the price of the mistakes of capital.
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John Kenneth Galbraith, RIP
In memory of a flawed economist whose work is worth reading as he understood the role of power in the market.
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The roots of privatisation
Did you know that the Nazis invented privatisation?
An obituary for Milton Friedman. Being consistently wrong does not stop you being considered a great economist, as long as it is what the ruling elite wants to hear.