John Maynard Keynes Comes Out of Hiding in the UK

March 18, 2020

The Guardian’s columnist Will Hutton, a declared Keynesian, has expressed his astonishment at the Tory government suddenly abandoning its economic orthodoxy as the appropriate response to the coronavirus pandemic. His readers certainly remember the “Cameron-Osborne austerity” of only a few...

The Daily Devil’s Dictionary: “Illth” of Nations

August 29, 2018

Can economics become a mature and socially responsible science by acknowledging the existence of illth? We are all prisoners of our language, forced to remain within the limits of what the overwhelming majority acknowledges and forced to ignore what our thought leaders conspire to discard from...

The Invaluable Hour: Killing the Labor Movement

November 02, 2017

The gig community, which is on a path to quickly becoming a majority, needs the collaborative protection that the labor movement originally provided. Society has spent more than a century fighting over the value of human labor. In The Wealth of Nations, Adam Smith links a society’s potential...

America’s Forgotten Economics: Social Democracy

March 06, 2013

Social democracy promoted by the late Harvard political economist John K. Galbraith is the future of capitalism with its emphasis on equity and responsibility alongside prosperity. Social and economic ills of our time are predictable outcomes of the ideological dismissal of a functional theory of...