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    Commentary, Economics / inequality, plutocracy /

    Opportunity Class

    January 31, 2014

    America is in such a funk nowadays that sometimes it can get exasperating. The disconnect between what average people believe and hope for, and what seems to dominate our political class is gaping wide open. To me the cause for this disconnect is obvious, and our rampant inequality sits squarely at the heart of the […]

    Economics / economic policy, elections, government spending, growth, inequality, Obama, Republicans /

    Distribution and All That

    January 23, 2014

    Rumor has it that Obama’s next State of The Union address will focus heavily on inequality which has become quite a vogue issue in some Washington DC circles. I doubt anything will come of his speech, these obligatory speeches get swamped by politics the moment they end, but it will be interesting to hear what […]

    Economics / austerity, consumption, demand, economic policy, economic theory, plutocracy, stagnation /

    Stagnation: For Whom?

    January 15, 2014

    I read with interest Steve Keen’s latest tilt at Paul Krugman in the new edition of Real-World Economics Review. This has been an ongoing discussion, but we need not concern ourselves too much with it here. Keen’s general point is that the money created when banks lend has to be taken into account within any […]

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