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Capitalism, Growth and Freedom


BY VICTORIA BATEMAN 08/10/2015 Just under a century ago, in 1917, a communist revolution rocked Europe. Capitalism was taking a beating, and the Great Depression of 1929 only served to add to the growing disenchantment. Before long, socialist tendencies were spreading, both to the East, swallowing up the great land ...

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A Brief History of Economic Growth

Vollrath Fig 1

BY DIETRICH VOLRATH 13/11/2015 Most macroeconomic textbooks make a vague distinction between the ‘short run’ and the ‘long run’, typically saying the short run is somewhere between a few quarters and a few years, while the long run is perhaps five years out. When growth economists say ‘long run’, they really ...

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Inequality in Climate Change Games



World leaders will soon gather in Copenhagen in the hopes of coming up with a binding agreement aimed at limiting global warming to 2 degrees Celsius. But what if we're not successful?

BY ALESSANDRO TAVONI 14/02/2015 Inequality has long been the focus of much economic thinking. To name but a few, Kuznets (1955), Sen (1973) and Wilkinson (1996) have written extensively about the subject of income inequality and its relationship to economic growth. In 2014 the issue has once again taken centre ...

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The Gender Pay Gap: Rethinking Human Capital

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By MARY GREGORY, 26/02/2015 It is now 40 years since the UK’s Equal Pay Act came fully into force, yet the gender pay gap remains ubiquitous (Goodley, 2014). More perplexingly, the same period has seen a dramatic rise in women’s educational attainment (Barnes, 2011, p.17). Girls have been outperforming boys ...

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Inequality and the Financial Crisis


By PASQUALE TRIDICO 26/02/2015 The objective of this brief essay is to show that the institutional and structural changes which occurred in the labor market and in the economy over the last two decades in Europe, and over the past 30 years in the US, were functional to the financialization ...

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How Government Became “The Problem”

Credits to SS&SS

By JON D. WISMAN, 19/02/15 Over the past 40 years, more and more Americans have come to view government as incompetent, corrupt, or even as the enemy. And it’s not just the Tea Partyers. Whereas in the 1970s, 70 percent of Americans had “trust and confidence” that the government could ...

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Thinking about the Poor and not the Rich

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By PHILIP BOOTH, 14/02/15 I am passionately interested in ensuring that we have the right conditions to alleviate poverty but I am relatively uninterested in the issue of inequality. If you take the position that inequality matters in and of itself then, essentially, you are taking the view that you ...

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Jubilee, Denial and Beyond


By RICHARD D.WOLFF, 13/02/15 Thousands of years ago, various religions developed an idea some called ‘jubilee’. It entailed the acts of canceling or reversing income and/or wealth inequalities (especially of land holdings and debts) that had developed in their societies. Often, jubilees were stipulated to occur periodically every 49 years, ...

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