Tag Archives: Debt

Putdowns with style — economists’ version

I was very chuffed when my favourite econblogger made one of my comments the centrepiece of a post. That is a prominent economist being nice. Then there are economists engaged in public putdowns. In 2002 Kenneth Rogoff penned an open letter to Joseph Stiglitz. In Scott Sumner’s words: I used to think that Ken Rogoff’s 2002 […]

Against free markets

The term that is. There seem to be few usages that are a greater barrier to clear thought and debate than free markets. Whether used as a term of sneering abuse to create straw-person arguments or as a slogan of the right and proper, it is ready-made to close minds and abstract away from the issues […]

A fight over money

Over the last twelve months or so, the blogosphere saw another round of a long-standing fight over money. Not over getting more money (though that is an element too), but its nature and history. A story about debt The aforementioned tussle has been provoked by the publication of David Graeber’s intriguing, but seriously flawed, book Debt: The […]

Corrupting risk on top of the surplus pyramid

In a real sense, human history starts with the creation of a social surplus, a surplus beyond simple subsistence. Such a surplus could be used for–indeed, was required to–build more complex societies. This included the literal building of the monumental architecture, the most striking creations from the existence of such surpluses. More food, more babies Merely increasing production does […]

Don’t mention the A-word

The Eurozone, the US, Japan and the UK are all suffering prolonged economic stagnation. [You can see how serious it is in the US here.] It is sensible to suggest that they are doing something (or perhaps many things) wrong and need to change policy. What is not sensible is ignoring a developed world economy […]

I hope this isn’t accurate…

… But I have a nasty feeling it is.