There is very little politics can do to remediate the state of democracy within the constraints of a neoliberal economic framework where the system itself is a zero sum game. To make one person better off, another person has to be made worse off replicating and even increasing income inequality. These underlying forces push individuals to make a choice between self preservation and the betterment of society. Thus our frustration can be easily displaced towards a discourse of hatrate and distrust of our fellow Americans, the same ones that help make this country great every day. How can any political party, even with good intentions fight against a system built on pure structural violence? … More The US democratic circus
From the recent ILO (International Labour Organization) World Employment and Social Outlook – the changing nature of jobs publication. The part on labour and the increasing importance of international supply chains is a ‘must read’ – the economic history of today. Where are workers less likely to have a permanent contract? Increasing poverty for households … More World employment and social outlook 2015. The changing nature of jobs
They try to explain business cycles solely as problems of information, such as asymmetries and imperfections in the information agents have. Those assumptions are just as arbitrary as the institutional rigidities and inertia they find objectionable in other theories of business fluctuations … I try to point out how incapable the new equilibrium business cycles … More Why Real Business Cycle models can’t be taken seriously
Due to the steady fall of worker share on GDP, inequality is “quickly becoming a problem between the financial industry and the rest of the world, and the bad news is that finance is wining” (S. Keen). The graph above shows what happens to a relative stable capitalist system when the workers share of GDP begins to fall below certain levels … More Why the rich should be worried about inequality
We need a new way of modeling macro economics instead of assuming that aggregate action leads to generalized welfare #SmartEconomy #finance #Money #Innovation #RealWorldEconomics
Managing risk in a globalized economy – The London Economic. Take a 10 question survey. Help us build the economic models of the future. Be part of something big. We need your opinion as a consumer!
The nineties marked the .com bubble while the 2000’s marked the app and e-commerce revolution. For those entrepreneurs in search of the next big thing, here it goes a small tip. 3D printing is quickly gaining momentum, and as all new technologies do, it is expected to rock every aspect of our daily lives. While … More The next tech revolution is upon us
“An unlimited pool of ideas lost to a sea of short sighted goals” Innovation in the twenty first century has a very narrow definition that centers on the purpose of creating immediate monetary value. This term can take several shapes, such as creating a new product that people want to buy, finding new ways of … More Where innovation should be headed