The economics profession has been injected with enormous sums of money -- in the form of chairs, endowments, think tanks, advisory roles, consulting gigs, and God knows what else -- to push it further to the right.
Having ten years to fully implement their vision, these Republicans did great for middle-class Americans, right? Again, only if we pretend that history ended in October 1929.
The stock and bond markets are sinking because of Fed Chairman Bernanke's seemingly offhand remark that the Fed could slow down its QE purchases of se...
Despite the disgrace in which the case for austerity economics now resides, it is unlikely that politicians and policy-makers, either in Europe or in the GOP-controlled House of Representatives, will change course anytime soon.
Low inflation and asset bubbles are a particularly toxic combination, and they're increasingly common.
We know how fragile is the U.S. economic recovery just from the past 48 hours, because both U.S. and Japanese stock prices plummeted and interest rate...
As Europe reminds us, it prevents recession-battered economies from growing. The alternative is to prime the economic pump by having governments engage in fiscal and monetary stimulus.
Professor Krugman keeps fighting a straw-man argument. The real issue isn't a choice between stimulus and austerity. After all, we've had nearly five years of quite remarkable monetary and fiscal policy stimulus.
In comes Paul Krugman of the New York Times. Almost single-handedly he has made the case for stimulus and investment, and disemboweled the idea that spending cuts will get us out of this long, slow glide to economic oblivion.
Once again, Karl Rove/GW Bush attempted to turn the clock back to the beginning of the 19th century, and we are now living with the consequences--wars and budget deficits without end. It's hard to see what form a new nationalism will take, until and unless a new Teddy Roosevelt comes along.
As the austerity's intellectual claims are discredited, its advocates are confronted with a choice: Face their own errors, correct them, and participate in honest discourse. Or cover up, obfuscate, and (in Niall Ferguson's case) turn mean and desperate.
We can rehabilitate a Social Contract that connects us. With a restored self-image, we can reverse Citizens United, rebalance our political process, and find trade policies that serve society as a whole.
Since the 1970s, Republican economic policies have prevailed that diverted most of the fruits of prosperity to the wealthiest, so that the rest of U.S. have less to spend -- even though consumer spending drives 70 percent of economic activity.
What the Chicago conservatives in 1932 said the government should do was spend aggressively on useful public works and infrastructure. There were then and are now plenty of liberal ideas that deserve harsh criticism.
In his column "The Price Is Wrong," Prof. Krugman argues with the free market proponents on how to address our unemployment. I would take a second look at this option.
David Stockman's New York Times 'rant' glorifies the gold standard and denigrates government for standing in the way of putting "free markets and genuine wealth creation back into capitalism." In fact, Stockman would return us to an earlier era of crony capitalism.