No wonder Americans voted out Trump’s Republicans. But what now?thenextrecession.wordpress.c…
William Nordhaus: growth and climate change
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It seems that Asian AI bubble has burst. Now the bursting of the bubble has spread to China.
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It’s education that primarily worries students and teachers (and parents) in France, But education is just one aspect of the deterioration of basic public services in France.
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This year’s Risbank prize for economics went to two Americans Robert Hall and Michael Woodford, for their work on the “microeconomic foundations of macroeconomic stabilisation.”
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Resilient – that is the message of the International Monetary Fund (IMF)’s latest outlook on the world economy. But resilience may be coming to an end.
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Back to Keynes for ‘the good life’
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Four more years for Lula?
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If we measure the ratio of profits to wages in Marxist terms, namely as the rate of surplus value, we find that it has never been so high and thus an important counteracting factor in driving up the US rate of profit.
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AI: the biggest economic bet in US history
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Russia has elections to its parliament (Duma) starting today. This will also be the first legislative election in Russia to take place amid the ongoing war in Ukraine.
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In part two of my report on IIPPE 2026, I consider papers on AI, imperialism, money and fascism.
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The 16th Annual Conference of IIPPE took place in Lisbon, Portugal last week. The theme of this year’s conference was Capitalism Moving Beyond Neoliberalism
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Sweden election - no longer a 'social democracy'.
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“Is Keynesianism dead?” says Andy Haldane, former chief economist at the Bank of England, writing in the Financial Times. Haldane’s answer is “Keynesianism, if not dead, is potentially defunct.” Is he right?
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The financial media and mainstream economists are in a huge tizz. Government bond yields have risen sharply since the end of the pandemic slump to return to levels not seen since the global financial crash of 2008-9.
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US corporate profits surged by $401 billion in the second quarter of 2026. This pushed total corporate profits to a historic high of $4.3 trillion, or up nearly 23% since Q2 2025.
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Disinflation ended with the pandemic and inflation has returned. But mainstream economics and the monetary system managers continue to cite the same causes of inflation and adopt the same policy actions as they did before 2020.
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For me, economics remains a ‘dismal science’ because the most important economic theories that expose the dismal state of the world are mostly ignored in the ‘profession’.
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