Macro Letter – No 56 – 10-06-2016
Here comes summer – Did you sell in May?
- Are Central Bankers approaching the limit of their power? 1,556 more words
Macro Letter – No 55 – 20-05-2016
The levee gonna break – Debt, demographics, productivity and financialization
Yesterday the Federal Reserve released a 19-page letter that it and the FDIC had issued to Jamie Dimon, the Chairman and CEO of JPMorgan Chase, on April 12 as a result of its failure to present a credible plan for winding itself down if the bank failed. 1,415 more words
John Maynard Keynes, writing in his General Theory, claims that his theory was
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“adequate to explain the outstanding feature of our actual experience; namely, that we oscillate, avoiding the gravest extremes of fluctuation in employment and prices in both directions, round an intermediate position appreciably below full employment and appreciably above the minimum employment a decline below which would endanger life … we must not conclude that the mean position thus determined by ‘natural’ tendencies, namely by those tendencies which are likely to persist, failing measures expressly designed to correct them, is, therefore, established by laws of necessity.
The book, simply entitled ‘Capitalism’, is Professor Anwar Shaikh’s magnum opus, published this year. Shaikh is an economist working in the classical tradition of Smith, Ricardo and Marx, although he draws on others including Keynes, Kalecki and Sraffa. 135 more words
Macro Letter – No 52 – 08-04-2016
Quantitative to qualitative – is unelected nationalisation next?