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Roving Cavaliers of Credit
Read Some Minsky
Monetary Profits Paradox
Are We "It" Yet?
Monetary Multisectoral Model
"No-one saw this coming"?
Why the Crisis is not over
Deleveraging with a twist
Bernanke doesn't understand the Great Depression
The Case Against Bernanke
Rescuing the Bubble
Australian house prices
Competition No Panacea
House Prices & Banks I
House Prices & Banks II
Lectures on Endogenous Money
Debt and Australian housing
BBC HARDtalk Interview
INET Interview on why I saw "It" coming
Economists have long had to endure being called “Dismal Scientists”, but really that’s not hard enough on them. With their proclivity to invent trite phrases to describe complex issues, they deserve to be known as Dismal Poets as well.
The latest cliché off the economic jargon production line is “Green Shoots of …
Economic historians Barry Eichengreen and Kevin H. O’Rourke are using empirical data to compare this downturn to the Great Depression. I’ll be referring to and adding to their comparison in the next Debtwatch (which will be published late next week, before the RBA’s July meeting), but the research is so good that it deserves …
AUSTRALIAN-RELATED LINKS:
Aussie Banks Addicted To Foreign Borrowing, Daily Reckoning, 18 Jun
“The deposit base of Aussie banks is ‘too low’. Aussie banks are over-reliant on offshore money. This entire situation is a ‘threat to economic recovery’. So it appears Aussie banks are addicted to foreign borrowing and are currently suffering from withdrawal symptoms… Australia’s property …
More gems and brickbats from the world’s media and blogs gathered by Evan, with contributions from other blog members. Please keep those tips coming in to gfcwrap at gmail.com.
AUSTRALIAN-RELATED LINKS:
June 9, 2009: “A beautiful set of numbers tell only part of the economic story”, Tim Colebatch, The Age.
“How can anyone make sense of …
I’ve had a few exchanges with neoclassical economists recently via the East Asia Forum blog, whose editor approached me to write a version of my “What a load of Bollocks” post on this site. That piece “Why neoclassical economics is dead”, critiqued an East Asia Forum post “The state of economics” by neoclassical textbook authors …
In Debunking Economics, I argued that economic theory had done such damage to society that humanity would be better off if everything ever written about economics by anyone–including yours truly–were obliterated, and the world had to start again from scratch.
Unfortunately that can’t be done–everything, even economics, develops in an evolutionary way–but the next best …
Before the Pool Room, a quick comment on Australia’s recent 0.4% growth in GDP in the first quarter of 2009–largely due to a surprise growth in net exports–and the sequel the next day of a surprise trade deficit.
Briefly, the “textbook” definition of GDP is:
GDP = C+I+G+X-M
“GDP equals Consumption plus Investment plus Government spending plus …
STEVE KEEN and EVAN JONES in conversation with FRANK STILWELL
In this event to celebrate the publication of Political Economy Now!–the history of the Political Economy struggle at Sydney University–Evan Jones, Frank Stilwell and Steve Keen will discuss the struggles inside the university economics departments and their significance, not only for teaching, but for …
Economic debate in Australia today reminds me of one of the great lines in The Rocky Horror Show. As he invites Brad and Janet to meet Rocky, Frank-N-Furter taunts Janet with the lines:
“I see you shiver with anticipation!
But maybe the rain is really to blame
So I’ll remove the cause,…
But not the symptom!”
It seems that …
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