The Unreal Basis of Neoclassical Economics

By Al Campbell, Ann Davis, David Fields, Paddy Quick, Jared Ragusett and Geoffrey Schneider American Review of Political Economy – original version Introduction Ten years after the financial crisis, we still find mainstream economists engaging in overly simplistic analysis that does not accurately capture the dynamics of the real world. People studying economics need to … More The Unreal Basis of Neoclassical Economics

New Book: Money and Government – The Past and Future of Economics

By Robert Skidelsky. From Yale University Press: A critical examination of economics’ past and future, and how it needs to change, by one of the most eminent political economists of our time The dominant view in economics is that money and government should play only minor roles in economic life. Economic outcomes, it is claimed, are … More New Book: Money and Government – The Past and Future of Economics

New Book: The Economic Thought of William Petty – Exploring the Colonialist Roots of Economics

By Hugh Goodcare. From Routledge: William Petty (1623-1687), long recognised as a founding father of English political economy, was actively involved in the military-colonial administration of Ireland following its invasion by Oliver Cromwell, and to the end of his days continued to devise schemes for securing England’s continued domination of that country. It was in … More New Book: The Economic Thought of William Petty – Exploring the Colonialist Roots of Economics

John Weeks on Austerity

John Weeks explains why one does not need an economist to understand economics, why austerity in Britain was and is unnecessary, the importance of gilts in a society, and lots more. originally posted here

New Book: Realizing Capital – Financial and Psychic Economies in Victorian Form

By Anna Kornbluh.  From Fordham University Press: During a tumultuous period when financial speculation began rapidly to outpace industrial production and consumption, Victorian financial journalists commonly explained the instability of finance by criticizing its inherent artifice—drawing persistent attention to what they called “fictitious capital.” In a shift that naturalized this artifice, this critique of fictitious capital … More New Book: Realizing Capital – Financial and Psychic Economies in Victorian Form

Professional Ethics 101: A Reply to Anne Krueger’s Review of The Oxford Handbook of Professional Economic Ethics

 by George F. DeMartino and Deirdre N. McCloskey The present authors are the editors of The Oxford Handbook of Professional Economic Ethics (2016). The volume was reviewed in 2017 by Anne Krueger in the Journal of Economic Literature. The review was negative. It misrepresented the book quite badly, both in the number of misrepresentations and … More Professional Ethics 101: A Reply to Anne Krueger’s Review of The Oxford Handbook of Professional Economic Ethics