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Archive | Economics

All essays that are primarily about economics

Radical Economics: A Clearer Look at Things, Part 1

Radical Economics: A Clearer Look at Things, Part 1

Why Is Neoclassical Economics So Pervasive?  When capitalist economies were new, the writers who attempted the first analyses of these economies were, for the most part, driven by a desire to understand things. They did not stand to gain anything by their studies, such as academic appointments, government commissions, or money. They weren’t trained as […]

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The Neoclassical Economic Dogma: Part 2

The Neoclassical Economic Dogma: Part 2

Neoclassical Solutions to the Market Failures: the Liberal View  Liberal neoclassical economists share a faith in the goodness of markets with their libertarian counterparts, but the liberal faith is tempered by an understanding that market failures can seriously undermine the “social welfare.” Their solution to market failures is a more activist government. It is important […]

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The Neoclassical Economic Dogma: Part I

The Neoclassical Economic Dogma: Part I

 I am in Amherst, Massachusetts, teaching a two-week course to union activists enrolled in an MA program in Labor Studies.  The class is bright and eager to learn how our economic system works.  These students will go back to their unions and help spread the word, hopefully raising the consciousness of the members and building […]

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ABCscover

The ABCs of the Economic Crisis: Mike Whitney Interviews the Authors

1. Mike Whitney—In your new book, “The ABCs of the Economic Crisis: What Working People Need to Know”, you allude to right wing think tanks, like the Heritage Foundation and the American Enterprise Institute, which promote a “free market” ideology. How successful have these organizations been in shaping public attitudes about capitalism? Do you think […]

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Alan Greenspan: Class Warrior

[Note: This first appeared in Counterpunch at http://www.counterpunch.org/yates10102007.html. It is based upon a story in the book.] Alan Greenspan’s new memoir has put his tenure as Federal Reserve chairman on the hot seat, as critics ask whether he bears responsibility for the housing bubble and for his failure to vocally reject the Bush tax cuts. […]

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