In the eleventh and last of the Theses on Feuerbach, we read: ‘The philosophers have only interpreted the world, in various ways; the point is to change it.’ [...]
Somewhat belatedly, the IMF in 2016 echoed the views of Professors Rey and Bhagwati outlined above, and issued a partial mea culpa in a paper titled ‘Neoliberalism: Oversold?’ [...]
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None of this is news to the victims of neoliberal economic policies in many poor, heavily indebted countr…
Keynes’s great contribution to monetary theory, and to the policies of his time, was based on his refutation of an important element of classical economic theory. He argued that the rate of interest was the cause, not as orthodox economists argued the passive consequence, of the level of econom…
Socialism is, essentially, the tendency inherent in an industrial civilization to transcend the self-regulating market by consciously subordinating it to democratic society.
The key to tackling the problem identified by Adair Turner – the weakness of global nominal demand – is therefore expenditure, specifically, public expenditure that can be undertaken quickly: on the upkeep of roads and railways, on flood defences, on water conservation, on horticulture, and so on…
