July 31, 2021Sources
MICRO-STRATEGY Accounts of major historical shifts tend to treat states as unified actors responding to external incentives. In a new article, INGA RADEMACHER complicates this assumption. Drawing on archival documents from the German Federal Cabinet and Bundesbank Council from 1960-1981,…
August 13, 2020Reviews
Suggested readings on the savings glut, critical macrofinance, and the balance of payments.
April 3, 2020Analysis
The underlying problems in the US economy
Today’s Bureau of Labor Statistics (BLS) report hardly registers the cataclysm in the US job market. The sharp 0.9 percent uptick in unemployment—itself newsworthy—only grasps the very beginnings of the shutdown of the American economy.
March 25, 2020Analysis
The shape of the Covid-19 recession
January 16, 2020Analysis
On incorporating distributional concerns into macroeconomic models
Recent years have seen the revival of academic conversation around rising wealth inequality and its distributional consequences. But while applied, microeconomics-oriented fields like public and labor economics have long engaged with questions around inequality, macroeconomics has historically paid less attention…
July 11, 2019Reviews
A new book by James Crotty reexamines the career of John Maynard Keynes
What drives economic growth and stagnation? What types of methodologies and tools do we need to accurately explain economic epochs in the past and present? What models and policy approaches can lead to prosperity for all?
March 22, 2019Analysis
On the theory of monopsony
Early on in The Wealth of Nations, Adam Smith asked who had the edge in negotiations between bosses and wage laborers. His answer: the bosses. In the case of a stalemate, landlords and manufacturers “could generally live a year or…