Michael D. Yates

Michael D. Yates

Markets Are the Problem (Not the Solution)**

A recent op-ed in the New York Times described the construction of “the mother of all luxury property developments,” on Saadiyat Island in Abu Dhabi, complete with branches of famous museums and a university. We learn that: Saadiyat’s extraordinary offer to the buyers of its opulent villas is that they will be able to stroll […]

Class: A Personal Story

Class: A Personal Story

 I was born in 1946 in a small mining village in western Pennsylvania, about forty miles north of Pittsburgh, along a big bend in the Allegheny River. The house in which I lived during my first year of life had neither hot water nor indoor plumbing. It was a company house, and my grandmother had […]

Teaching Workers

Teaching Workers

 Karl Marx’s famous dictum sums up my teaching philosophy: “The philosophers of the world have only interpreted the world in various ways; the point is to change it.” As I came to see it, Marx had uncovered the inner workings of our society, showing both how it functioned and why it had to be transcended […]

Choosing an Occupation: The "Science" of Economics

Choosing an Occupation: The “Science” of Economics

The name, “Nobel Memorial Prize in Economic Science,” tells us that those who give the prize believe that economics is a science. This is certainly what my professors thought when I was a student. One argued that every good economist is a good physicist. There was even a joke that an exceptional economist who dies […]