There has been an explosion of discussion about whether to cancel student debts. Critics of the idea point out that wealthy people would be the main gainers, posing moral hazard. The debate has has quickly slipped into a discussion of modern economies and whether it was moral to ... Read more
Michael Hudson, one of the few economists who accurately predicted the Great Recession, has written a book — …and Forgive Them Their Debts — that caused John Siman to remark in Naked Capitalism: “To grasp his central argument is so ... Read more
By almost every measure, the U.S. economy is booming. But a look behind the headlines of roaring job growth and consumer spending reveals how the boom continues in large part by the poorer half of Americans fleecing their savings and piling up debt.
Capitalism collapsed in 2008, just as communism had collapsed in 1991 — the system we have now is something else This is an argument Varoufakis has made many times, including in his 2011 book “The Global Minotaur.” As he expressed it to me, the financial crisis of ... Read more
A report from a group of economists at the Levy Economics Institute of Bard College finds that there would be huge benefits if the federal government were to forgive all existing student debt. This would ripple out from young people struggling to pay off massive college loans to the economy as a whole, ... Read more
Above Photo: A general view of the Capitol Dome in Washington, D.C. | Photo: Reuters Google is blocking our site. Please use the social media sharing buttons (upper left) to share this on your social media and help us break through. Whatever financing issues exist for social security, Medicare, ... Read more
Above photo: From Exchanging Ideas and More. Google is blocking our site. Please use the social media sharing buttons (upper left) to share this on your social media and help us breakthrough. During his visit to hurricane-stricken Puerto Rico, President Donald Trump shocked the bond ... Read more
Above Photo: Christian Schnettelker/Flickrd Deficit fears are impoverishing our kids. The people complaining about budget deficits fundamentally misrepresent how the economy works and the problems it faces. A deficit is a problem when it creates too much demand, exceeding the economy’s ability to supply goods ... Read more