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Neoclassical Economics

How Austerity Economics Turned Europe Into the Hunger Games

Lynn Parramore | Posted 03.10.2015 | Politics
Lynn Parramore

A nasty strain of austerity capitalism has taken over Europe, leaving broken lives in its wake. Researchers Servaas Storm and C.W.M. Naastepad consider how things got so bad, what role economists and misguided policy-makers have played, and how to change course.

Paul Krugman on Limits to Growth: Beware the Bathwater

Brian Czech | Posted 12.15.2014 | Green
Brian Czech

Take Krugman's opinion on limits to growth at your peril, and that of your grandkids.

Thomas Piketty's Model of Inequality and Growth in Historical Context (Part II)

Mary Manning Cleveland | Posted 09.23.2014 | Business
Mary Manning Cleveland

Critics have torn into Piketty's model. In my view, Piketty's and Solow's models are both fundamentally flawed in that they rest on the same ahistorical, apolitical, two-factor neoclassical foundation.

What 'The Third Metric' Has in Common with Neoclassicism

Babatunde Valentine Onabajo | Posted 08.05.2013 | Business
Babatunde Valentine Onabajo

Is continually acquiescing power conducive to human flourishing? St. Thomas Aquinas certainly disagreed.

Supply Shock: The Journey

Brian Czech | Posted 07.07.2013 | Home
Brian Czech

Writing a book is like going on a journey. You explore the terrain, make discoveries, meet interesting people, and maybe learn a new language. The longer the book-writing, the longer the journey.

Minimum Wage/Maximum Growth

Robert D. Atkinson, Ph.D. | Posted 04.23.2013 | Business
Robert D. Atkinson, Ph.D.

In his State of the Union Address president Obama proposed that Congress increase the minimum wage to $9.00 per hour. Almost immediately a chorus of opposition based on neoclassical economics emerged, arguing that such a change would kill job creation.

The Fiscal Cliff, the Republicans and the Ghost of Christmas Past

David Coates | Posted 02.18.2013 | Politics
David Coates

As reports thicken of a possible deal between the White House and the House Republicans -- a deal which will supposedly avoid the rest of us going over some fiscal cliff on January 1 -- it is worth remembering at least four reasons why such a deal is probably best avoided.

The First Death Rattle of Our Unsustainable Economy

Rebekah and Stephen Hren | Posted 05.25.2011 | Green
Rebekah and Stephen Hren

The idea that capitalism is the most efficient economic system is complete and utter malarkey.