Articles

Distracted by the perceived threat of a Chinese savings glut, mainstream macroeconomists missed the writing on the wall of the 2008 crisis

In China, the government uses the purses strings of state-owned enterprises to control social unrest

The anthropologist David Graeber has argued that as much as 30% of all work is performed in “bullshit jobs,” which are unnecessary to produce truly valuable goods and services but arise from competition for income and status. But the deeper problem is that more and more economic activity performs a merely distributive function.