Gangster Capitalism: Same as it ever was?

If you are going to read one thing and just one thing on the financial crisis and how it is working itself out you need to read this blog post at naked capitalism:  the one stop shop for understanding contemporary … Continue reading →

Returns to education: from a sure thing to a trip to vegas

Paul Krugman has pointed out, here and here that the meme that most of the inequality we have been experiencing of late has much to do with differences in educational attainment is bogus.  Mankiw responds in typical fashion by changing … Continue reading →

The economy lab, the dark age of free trade theory, and the naive view on natural resources and economic development

Over at the Economy Lab in the Globe which Failed, which itself has gone from bad to worse, one of the economists they keep in their stable has either produced an extraordinarily naive analysis or a dishonest one.  I am … Continue reading →

How to read economic language for bias: “wage inflation” in Newfoundland and Labrador

Sometimes we read things and we get that gut feeling that we are being subtly manipulated.  Economics is of course full of this subtle manipulation.  Words like “choice”, and “efficiency” and even phrases like “free trade,” “efficient markets” and my … Continue reading →

Delicious and dangerous irony: China to buy Italisn bonds

How much of a disaster is the EMU?  Look no further than the spectacle of the Italians going cap in hand to the Chinese for a bail out.  The fact that the Italians are tapping the Chinese is not the … Continue reading →

IIlicit money flows

Not really into re-blogging articles but this essay effectively puts money laundering and corruption into context. It is useful for explaining key processes in the ‘the web of secrecy, collusions and the players that drive and sustain the world of … Continue reading →