The strange world of modern economics
What would you tell six hundred leading German social democrats about their party's handling of the Eurocrisis?
A criminally compelling web site by professional crime writers and crime fighters.
Thank you for meeting with us, Professor Piketty. To begin with, a number of critics, for example, Branko Milanovic and Anwar Shaikh, have suggested placing your work in the classical tradition of economics, resuscitating issues of class, capital and labor in dealing with macroeconomic questions, considering you part of a tradition that stretches from Smith to Keynes through Marx and others. Where do you see yourself in terms of economic tradition? Do you see yourself as part of this classical tradition?
Unlike conventional economics textbooks, which set forth axiomatic principles that supposedly govern an entire field of economic life, the Core-Econ textbook is a big fan of empirical realities, behavioral evidence and economic history. This textbook does not treat economics as if the past were irrelevant or as if the Universal Truths of Neoliberal Economics make societal institutions marginal. The Economy sees economics in its rich, complicated historical context. For example, it boldly addresses the importance of property rights arrangements, bargaining power, and distributional fairness issues.
There's more to life than money
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First of all I think Larry Summers gets much right, especially with respect to how many people are unemployed and have been displaced by a multiple of factors, of which robotics is one of them, albeit not a major factor (yet). I'm not quite sure why Summers mentions disability insurance - would be grateful if
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Thomas Piketty isn't a household name, although that may change with the English-language publication of his magnificent, sweeping meditation on inequality, Capital in the Twenty-First Century. This is a book that will change both the way we think about society and the way we do economics.