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24 октября, 02:27

Sciences of inequality

from David Ruccio Last month, Philip Alston, the United Nations Special Rapporteur on extreme poverty and human rights (whose important work I have written about before), issued a tweet about the new poverty and healthcare numbers in the United States along with a challenge to the administration of Donald Trump (which in June decided to voluntarily remove itself […]

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23 октября, 02:08

All-time most viewed RWER Blog posts

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21 октября, 02:29

Hype and facts on free trade

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from C. P. Chandrasekhar Voices questioning the claim that nations and the majority of their people stand to gain from global trade are growing louder. The one difference now is that the leading protagonist of protectionism is not a developing country, but global hegemon United States under Donald Trump. Free trade benefits big corporations with production […]

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20 октября, 02:35

The connection between cause and probability

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from Lars Syll Causes can increase the probability​ of their effects; but they need not. And for the other way around: an increase in probability can be due to a causal connection; but lots of other things can be responsible as well … The connection between causes and probabilities is like the connection between a disease and one of […]

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19 октября, 02:28

Corporations continued

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from Peter Radford The key to understanding corporations is to separate the economics from everything else.  We need to do this because the economics, as expressed in various theories of the firm, are usually entirely idealized and bear no resemblance to reality.  Economists, as usual, love to theorize about things that don’t exist but which […]

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18 октября, 02:50

Too much of ‘we controlled for’

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from Lars Syll The gender pay gap is a fact that, sad to say, to a non-negligible extent is the result of discrimination. And even though many women are not deliberately discriminated against, but rather self-select into lower-wage jobs, this in no way magically explains away the discrimination gap. As decades of socialization research has […]

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17 октября, 14:10

The 2008 Economic Crisis Ten Years On

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a WEA online conference 15th October to 30th November, 2018 Discussion Forum Sessions Visit the Discussion Forum   I. The Financialisation of the Economy Carmelo Ferlito, “The Malaysian Property Boom and Bust Cycle: History Repeating?” Jake Jennings, “The Crisis and the Asset Driven Household” Pushpangadan Mangari, “Impact of Financialization: View from India” Teodoro Dario Togati, […]

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17 октября, 02:17

Goosing the corporate goose (2 graphs)

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from David Ruccio No, the stock market is not predictable. And no one knows the exact causes of last week’s carnage on Wall Street—with the Dow down 4.2 percent, the S&P 4.1 percent and the Nasdaq 3.7 percent, representing their worst weekly performances since March. But the precipitous fall in all major indices, which many analysts […]

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16 октября, 14:22

new issue of WEA Commentaries

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WEA Commentaries Volume 8, Issue No. 4  Download the issue as a PDF In this issue Studies on Financialization in Latin America, Esteban Pérez Socialism, Economics and the Left, David Ruccio Economics for an Information Age, Patrick Spread Complexity in Economics, Maria Alejandra Madi On global capitalism and the survival of democracy, Maria Alejandra Madi             […]

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16 октября, 14:14

Brazil

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Mark Weisbrot –   Presidential election is about a fight for democracy in Brazil Thomas Palley – Brazil is falling under an evil political spell

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16 октября, 02:12

The neoliberal policies of resilience

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from  Maria Alejandra Madi Economic conditions are constantly changing. Today, our generation is confronted with the outcomes of contemporary globalization that is a broader, complex, and multifaceted process characterized by new markets, new actors and new rules. Indeed, globalization has produced many changes in our economy, society, culture, and politics. As a result, deep pressures […]

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14 октября, 22:38

Does using models really make economics a science?​

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from Lars Syll The model has more and more become the message in modern mainstream economics. Formal models are said to help achieve ‘clarity’ and ‘consistency.’ Dani Rodrik — just to take one prominent example — even​ says, in his Economics Rules, that “models make economics a science.” Economics is more than any other social science model-oriented. […]