Forecast 2020

“It is difficult to make predictions, especially about the future” is an old Danish proverb, often attributed to Nils Bohr, the Danish atomic physicist and quantum theorist.  And amusing and insightful as it may be, there is no getting away from realising that applying the scientific method to any issue requires making predictions that canContinue reading “Forecast 2020”

Top ten posts of 2019

As has become customary since I started this blog, here is the annual summary of content on my blog this year.  This year, there have been 450,000 viewings of the blog site, with the last quarter hitting a record number of viewings since I began the blog back almost exactly ten years ago.  Over thoseContinue reading “Top ten posts of 2019”

Land and the rentier economy

I should have reviewed Brett Christophers’ book, The New Enclosure, when it came out this time last year.  But better late than never. In 2017, Christophers, professor in Human Geography at Uppsala University, Sweden, published an excellent book, The Great Leveller, which takes a refreshingly new angle on the nature of capitalism.  He says thatContinue reading “Land and the rentier economy”

The debt delusion

John Weeks is Professor Emeritus at the School of Oriental & African Studies, University of London.  He is also a coordinator of of the UK’s Progressive Economic Forum (“founded in May 2018 and brings together a Council of eminent economists and academics to develop a new macroeconomic programme for the UK.”). John Weeks’ new book isContinue reading “The debt delusion”

Understanding socialism

The New York Times magazine has described Richard Wolff as “probably America’s most prominent Marxist economist”.  And that is probably not an exaggeration as a description of this emeritus Professor of Economics at the University of Massachusetts, Amherst and visiting professor at the New School University in New York. Richard Wolff has been one of a handful of Marxist economistsContinue reading “Understanding socialism”

Economics as a social science

Recently, Benoît Cœuré, a leading French member of the Executive Board of the European Central Bank, delivered an address to economics students at the job forum of Paris School of Economics. He wanted to explain to the gathered students that becoming an economist was a great thing to do and paid well. “For many, a master’sContinue reading “Economics as a social science”