252 Results for “stiglitz”

ProMarket and the Consumer Welfare Standard An output increase is not sufficient to increase welfare. Allocation—how goods are distributed—matters.

Author Rana Foroohar explains why the economic policies being touted by both presidential frontrunners offer none of the new thinking necessary to drive a policy response to revitalize the economy

“I was considering what I was going to do, [and] what I decided I could not do, was stay within the confines of mainstream academic economics.” Rob Johnson talks with INET Co-Founder Bill Janeway about his exciting new project at Cambridge University.

While many countries throughout the world have faced severe financial crises over the last decades, and while the Japanese stagnation and the 1997 Asian financial crisis did induce some additional interest for the introduction of banking and finance in macroeconomic theory, it is only with the advent of the US subprime financial crisis that macroeconomic and monetary theories put forward by mainstream economists have started to be questioned.

Wage suppression—not monopoly power—is fueling corporate profits and the growing gap between rich and poor

Globalization has fallen into disrepute; the myth of the prosperity and happiness-generating  free market has been dispelled. A visionary concept that provides guidance and direction is required now.

William Darity, Jr. has a new key to unlocking the mystery of inequality: stratification economics.

Globalisation was once considered a doctrine of salvation - but it has produced too many losers and created a breeding ground for heralds of simplistic truths. It is high time for a new doctrine.

Inflation and corporate profits, a further discussion

The New Keynesian Dynamic Stochastic General Equilibrium (DSGE) is a straightjacket for macroeconomics

The Risk Society

In his new book, Let Them Eat Crypto, Peter Howson cautions that the technologies are not just fraudulent but causing indefensible harm to both humanity and the planet.

Gilead’s shareholders want exorbitant profits from Remdesivir, even though it was the public that enabled its development.

Greater efficiency, lower costs, and universal coverage make it the sustainable option, say some top economists

Given the choice, would you accept to live in a society where happiness and prosperity is guaranteed for all on the condition that one single person be kept permanently unhappy? Is the well-being of thousands of people “worth” the sacrifice and suffering of a single innocent child? Such is the dilemma to which the inhabitants of the utopian city of Omelas are confronted in Ursula Le Guin’s philosophical short-story “The Ones Who Walk Away from Omelas”. In her parable, most people are ultimately able to come to terms with the atrocity. The few citizens who cannot end up walking away from the city — nobody knows where they go and they are never heard from again.