The US democratic circus

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

World employment and social outlook 2015. The changing nature of jobs

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

Why Real Business Cycle models can’t be taken seriously

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

Why the rich should be worried about inequality

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