Thomas Piketty’s real challenge was to the FT’s Rolex types | Comment is free | The Guardian

Thomas Piketty’s real challenge was to the FT’s Rolex types | Comment is free | The Guardian. If the FT’s attack on the radical economist’s ‘rising inequality’ thesis is right, then all the gross designer bling in its How To Spend It section can be morally justifiedre   The adverts in the FT and other … More Thomas Piketty’s real challenge was to the FT’s Rolex types | Comment is free | The Guardian

Competition and the Commercial Spirit

I came across this gem while reading Hayek’s discussion of private monopoly and competition in Law, Legislation and Liberty. Hayek is discussing the relationship between competition and economic rationality, disputing those who argue that economic rationality or the ‘commercial spirit’ needs to exist for competition to work. In contrast, Hayek argues that the relationship works … More Competition and the Commercial Spirit

Orthodox economists have failed their own market test | Seumas Milne | Comment is free | The Guardian

Orthodox economists have failed their own market test | Seumas Milne | Comment is free | The Guardian. From any rational point of view, orthodox economics is in serious trouble. Its champions not only failed to foresee the greatest crash for 80 years, but insisted such crises were a thing of the past. More than … More Orthodox economists have failed their own market test | Seumas Milne | Comment is free | The Guardian

Economics students aim to tear up free-market syllabus | Business | The Guardian

Economics students aim to tear up free-market syllabus | Business | The Guardian. Undergraduates at Manchester University propose overhaul of orthodox teachings to embrace alternative theories Phillip Inman, economics correspondent The Guardian, Thursday 24 October 2013 19.17 BST The Post-Crash Economics Society at Manchester University. Photograph: Jon Super for the Guardian Few mainstream economists predicted … More Economics students aim to tear up free-market syllabus | Business | The Guardian

Econ 101 is killing America – Salon.com

Econ 101 is killing America – Salon.com. Salon.com In the Middle Ages, people looked to the Church for certainty. In today’s complex, market-based economies, they look to the field of economics, at least for answers to questions concerning the economy. And unlike some disciplines, which acknowledge that there’s a huge gap between the scholarly knowledge … More Econ 101 is killing America – Salon.com

Rational Irrationality and Capitalist Technocracy

The most recent exposition of the neo-liberal attack on democracy was published at the outset of what Wolfgang Streeck has called the current ‘crisis of democratic capitalism.’[1]  In The Myth of the Rational Voter, Bryan Caplan firmly embeds the neoliberal pursuit of free market capitalism within a Platonic critique of the irrationality of the masses … More Rational Irrationality and Capitalist Technocracy

The Myth of the Rational Economist

This year marks the fiftieth anniversary of E. P. Thompson’s classic book, The Making of the English Working Class. The book chronicles the state sanctioned proletarianization of English craftworkers and artisans in the late eighteenth and early nineteenth centuries. Thompson’s primary goal in writing the book was to rescue working people from the ‘enormous condescension … More The Myth of the Rational Economist