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Over $100,000: How Much Big Finance Rips You Off

This post originally appeared on the blog of the Institute for New Economic Thinking. America’s financial system is broken for all but a few at the top — that much is plain. The rest sense that we are stuck on the minus end of some great...Show More Summary

How Business School Is a Driving Force in America's Increasingly Unequal Society

Students are still taught to extract resources from workers, taxpayers and the real economy. This post originally appeared on the blog of the Institute for New Economic Thinking. Over the last several decades, American business executives have made decisions that have exacerbated the inequality that chokes prosperity for the country. Show More Summary

New Economic Thinking is Needed to Stop Charlatans Like Trump

I have a new column: New Economic Thinking is Needed to Stop Charlatans Like Trump: After the positive employment report last week, we are hearing that faster wage growth may be “around the corner.” This is not the first time...

Many Venezuelans Won't Accept That Socialism Has Failed Again: New at Reason

2 weeks agoNews : Reason

Despite economic catastrophe, a recent poll found 31 percent of Venezuelans think President Nicolás Maduro is doing a good job.  Francisco Toro writes the latest issue of Reason:  With people standing in line for hours just to buy soap,...Show More Summary

71% of Americans Think the Economy is “Rigged” … They’re RIGHT

A new poll by Marketplace-Edison finds that 71% of Americans – including “Americans from across the economic and political spectrum” – think the economy is rigged. They’re right … They’re also right about how broken and totally corrupt our political system has become …

The Power of the Pivot: Knowing When It's Time to Change Direction

As the trusted source of jobs and economic growth across the U.S., small business owners (now more than ever) must remain committed to exploring new opportunities, innovative thinking, resourcefulness, and leveraging their strengths as leaders. Show More Summary

Market Forces are Driving Coal’s Demise and Cleaning Up the Grid in Texas

What do economists and environmentalists have in common? When it comes to Texas’ energy future, more than you may think. According to a new study from the Brattle Group, a reputable, national economics consulting firm with extensive experience in Texas’ electricity sector, market forces are leading to coal’s rapid decline in the Lone Star State.

Specialization and Trade: A Re-introduction to Economics

That is the new Arnold Kling book, I very much liked the earlier draft I read.  Think of it as Fischer Black macro for 2016.  Here is Arnold: The main point of the book is that you need to keep in mind the overwhelming complexity of specialization in a modern economy. Show More Summary

The Surprising Way to Stop Bankers From Robbing the American People

Pernicious cultural norms inside American banks and regulatory agencies crowd out basic ethics. This post originally appeared on the blog for the Institute for New Economic Thinking. Does morality have a place in the realm of banking...Show More Summary

Stop Bankers From Robbing Taxpayers

This post originally appeared on the blog for the Institute for New Economic Thinking Does the question of morality have a place in the realm of banking and regulation? That it feels awkward to even raise the issue is convenient for bankers who engage in reckless and harmful activities every day without fear of punishment. Show More Summary

Prominent UK Economists Think Brexit to Have Negative Effect on GDP - Poll

Hundreds of economists, members the UK Royal Economic Society and the Society of Business Economists, think that Brexit would somehow negatively affect the United Kingdom's GDP, a new Ipsos MORI poll revealed.

Today's Economic History: Leszek Kolakowski vs. The Hacks of the New Left

Hoisted from 2006: [Main Currents of Marxism](http://www.bradford-delong.com/2006/09/main_currents_o.html): Back in the early 1970s, Leszek Kolakowski tells English historian E.P. Thompson what he thinks of him: >[Socialist Register](http://socialistregister.com/socialistregister.com/files/SR_1974_Kolakowski.pdf)...Show More Summary

A New Study Questions Whether Bright Street Lights Reduce Crime

Americans, and even the sociologists among us, tend to think about crime as a problem related to people and their economic characteristics. Crime, we theorize, is caused by poverty or relative poverty (larger differences between the haves and have nots), joblessness, more lucrative underground occupations, or an insufficient safety net. Show More Summary

How Regional Ambitions, Cheap Oil Change Saudi Arabia’s Global Role

The recent changes in the Middle East balance of power along with low oil prices have highlighted a set of new political and economic challenges Saudi Arabia is facing, analysts at the Carnegie Endowment think tank said.

Many of America's Leading Economists Are Not Even Remotely Grappling With America's Systemic Problems

Any suggestion that governments can do more to move economies out of the doldrums will be attacked and dismissed. A version of this post first appeared on the blog of the Institute for New Economic Thinking. The ferocious reaction to...Show More Summary

Media You Can Trust in a Capitalist Society? Here's an Idea

A new book by economist Julia Cagé advocates a participatory business model for independent media. This post originally appeared on the blog of the Institute for New Economic Thinking. Imagine a world where publications are controlled not by zillionaires or governments, but by readers, journalists, crowdfunders and other shareholders. Show More Summary

Here's a New Model for Independent Media

This post originally appeared on the blog of the Institute for New Economic Thinking. Imagine a world where publications are controlled not by zillionaires or governments, but by readers, journalists, crowdfunders and other shareholders. Show More Summary

Sentiment on trade policy is shifting: TPP is bad policy, after all

This year's political campaign has forced the economics profession to reconsider the fraying orthodoxy of free trade. Last week, Martin Khor documented the shift in thinking by several economists. In particular, the new NAFTA-style trade deal - the Trans-Pacific Partnership, is in deep trouble. Show More Summary

Obama thinks he hasn’t gotten credit for a growing economy. He’s right.

In a long New York Times magazine piece on Obama’s economic legacy, Andrew Ross Sorkin begins with this: Two months ago, across an assembly-room table in a factory in Jacksonville, Fla., President Barack Obama was talking to me about the problem of political capital. His efforts to rebuild the U.S. economy from the 2008 financial […]

Throwing Rocks at the Google Bus

The Economic Operating System I recently read Douglas Rushkoff’s provocative new book, Throwing Rocks at the Google Bus. Rushkoff is a media theorist, but this book falls comfortably into the area of big think economics. Its premise is that the underlying “operating system” of our economy — capital growth above all else — is not a fundamental law of markets, […]

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