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Stockman Lost It

You remember David Stockman I assume. He was Ronald Reagan’s Budget Director and an advocate of the economics that permeated the early years of the exodus from California by the horde of radical right wingers seeking to throw out each and every strand of social safety net, social insurance, and anything remotely attached to the […]

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Economic Errors?

File under ‘plus ca change … ‘: “Economic theory went astray when theoreticians focused their attention on the allocative functions of markets to the exclusion of their creative functions, which are far more important since they serve as an instrument for transmitting changes” “it is true that, at the moment, the status of economics appears […]

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Inequality Update

In case you missed it: the US is a wildly unequal society, and it’s getting worse by the hour. No surprise at all, but nonetheless some of the data can be quite eye-opening. Allow me to point you to David Cay Johnston and some of his analysis. Incomes have grown between 2009 and 2011. Great. […]

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