Articles

Banks have long had undue influence in society. But with the rapid expansion of a financial sector that transforms all debts and assets into tradable commodities, we are faced with something far worse: financial markets with an only abstract, inflated, and destabilizing relationship with the real economy. To prevent another crisis, finance must be domesticated and turned into a useful servant of society. 

It wasn’t Comey or the Russians. Trump prevailed because his campaign carefully targeted key states with late infusions of big money from private equity, casinos, and other far right contributors, a remarkable wave of donations from small donors, and substantial infusions from the candidate himself.

The renowned feminist economist discusses the importance of heterodoxy, radicalism, and social justice to the discipline

With unemployment reaching very low levels in major economies, despite low – and slowly rising – inflation, it’s time for central banks to rethink their reliance on the so-called natural rate. No numerical target for this rate can serve as an anchor for monetary policy.

From the Rust Belt to Rural America, Economic and Social Distress Helped Shape the 2016 US Presidential Election Outcome

The Idea That Businesses Exist Solely to Enrich Shareholders Is Harmful Nonsense

The path of austerity could spread economic pain and social woes far beyond the Caribbean island, says public debt expert Martin Guzman 

How a Banking Union Has Created Deep Divisions that Undermine the Eurozone’s Stability

Why it’s urgent that China adjust its balance of payment structure and safeguard its foreign assets

This blog post looks at the aggregate picture and collates some micro evidence in a more robust estimating framework to shed light on this question.