tag: Government

The Decline of America Anusar Farooqi (‘Policy Tensor’) has provided an excellent discussion1 of how the decline of America come about and what can(?) be done to reverse it - and why Trump does not have the answers. He does not discuss who have been responsible for the decline or whether it could have been omitted. In my mind there is one culprit: liberalism. Let me explain: The Law of The Market Society Liberalism potently exploits egoism - calling for individual freedom (of enterprise) and forgetting the importance of collective values and equality of rights and endowments....

Mainstream economics failure to ‘see the crisis coming’ in 2008 is broadly regarded as a deficiency of the theory. However, Paul Krugman now argues that the theory was - and is - ‘good enough for government’. The failure of 2008 was not in the theory, but rather in deficient data collection. Macroeconomists “overlooked” the institutional changes in the financial sector and did not record appropriate data. The “New Keynesians” - i....