Archive

New technologies are not the problem. It’s a system distorted by a flawed ideology.

ProMarket’s new “Addendum to Retraction,” written it appears in response to our recent INET post, doubles down on its critique of our piece which showed that it is feasible for increased output to lead to reduced welfare. The ProMarket addendum is notable for its economic errors.*

Unveiling the U.S. Prison System

Economists had to distort economic theory to fashion their merger “efficiency” arguments

By permitting business definitions of “efficiency” to leak over into the antitrust lexicon, antitrust scholars have done a great disservice

Why is the History of Economic Thought important?

Losing jobs isn’t the only thing workers have to worry about. AI may make many jobs worse.

Under the shared premise that no country alone can address the multiple challenges posed by intertwining and intensifying economic, social and environmental crises, this year’s lectures will discuss prospects and obstacles for a green and equitable transformation of the global economy.

Stock buybacks as a mode of predatory value extraction

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

The monetary policies of major central banks in advanced economies have had negative consequences and thus need to be fixed

Monetary policy should be guided much more by financial sector developments and much less by near-term targets for inflation.

Reaching climate goals means rich countries must invest in sustainable technologies in developing countries with huge energy needs.

The bundle of sanctions was initially designed and imposed in haste, with little basis to assess historic performance.

On the reflexive relationship between inflation and inflation narratives