Consensus Emerging With Economists That U.S. Economy Based On Rents Not Production

By: Friday June 21, 2013 8:02 am

Karl Marx may have been too optimistic about capitalism. Economist Michel Hudson has long claimed that Marx’s contention that ultimately industrial capitalism would triumph over finance capitalism was wrong. That, in fact, bankers have prevailed subjugating the productive forces of industry to the power of debt slavery and rentier capitalism. The real economy has been [...]

Merkley’s Rebuilding American Homeownership Plan Gets Economist Support

By: Monday August 13, 2012 10:58 am

Jeff Merkley’s HOLC-type plan for mass refinancing of underwater borrowers is not a panacea for this foreclosure crisis, but it certainly would help us prevent the next one, and without the legal implications that could trip up an eminent domain scheme. Ending the persistent problem of underwater borrowers would not only stabilize the housing market [...]

Federal Reserve Could Target Specific Interest Rate

By: Thursday October 7, 2010 7:44 am

The Federal Reserve does look poised to return to some quantitative easing starting in November. But Neil Irwin has a brief on what form that easing might take, setting a target for interest rates rather than a specific amount of bond purchases. Instead of just announcing that it will create, say, $500 billion out of [...]

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