The foundational facts about economic life that should be the starting point for a process of learning how to create an economy that provides enough for everyone. A summary of the entire blog.
A summary of a brilliant new paper from the IIPP on the need for credit guidance policies, confirming one of the conclusions of the blog 2 weeks ago.
Some tentative conclusions suggested by the blog so far.
A summary of this section of the blog.
A summary of Mazzucato’s seminal work on the role of the public sector in innovation and economic growth.
How we all end up being shareholders, and why much of the private sector is, in fact, publicly owned.
How Minsky got it right – his financial instability hypothesis and its relevance today.
In mathematics, risk and uncertainty are different things. Models to predict asset prices treat the uncertainty of investment decisions as if they were quantifiable risks, and hence these models keep making disastrous predictions.
Decisions to invest in different businesses and sectors shape our society for generations to come. How are these decisions made, and how effective are financial markets at channelling credit to those sectors that create the best future for us all?
A summary of Lazonick’s work showing how corporate buybacks of shares have artificially inflated share prices, thereby boosting executive pay, while depriving the real economy of funds for investment in productivity.