Capitalism contains many dysfuntional incentives – ones that constrain innovation and encourage rent-seeking.
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Economics
Bill Mitchell: The divide between mainstream macro and MMT is irreconcilable – Part 1
It is noticeable that the economic mainstream is becoming increasingly uncomfortable by the increased interest in Modern Monetary Theory. Bill Mitchell is right. There appears to be an effort to co-opt Modern Monetary Theory under […]
Economics
Business Insider: The ‘supply-and-demand model of labor markets is fundamentally broken,’ and that’s why you’re not getting a pay raise anytime soon
Part-time “underemployment” has, statistically replaced the mass unemployment we remember from the 1980s. As Johnson says: “A majority of people who are classified as poor now live in a household where someone is in work. […]
Economics
Branko Milanović- China: Fairer sharing of the fruits of growth
China’s development since 1949 can be viewed as being in three stages. Read Here
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