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UK Inequality – How much and why does it matter?

Economics and Distribution From the 1950s to the early 1980s discussions of income and wealth distribution had had an important place in mainstream economics, for both developed and underdeveloped countries. For example, Simon Kuznets was one of the most prominent economists of the 1950s, and his work on income distribution ...

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Rejoice, the World is becoming a better place

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BY ADAM MEMON 14/10/2014 In a recent debate I had on the BBC World Service (CPS, 2015) with David Graeber, the anthropologist who apparently came up with the phrase “We are the 99 percent,” I quoted official figures showing big falls in extreme poverty and rises in life expectancy. His response was ...

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Economics: towards science or philosophy?

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BY UNLEARNING ECONOMICS 07/10/2014 What is the way forward for economics and homo economicus following the financial crisis? To answer this I will consider a debate which is important in theory, yet often sterile in practice: is economics a ‘science’? In this essay I will argue that economics contains elements ...

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Time for a Copernican Revolution in Economics


BY DR. STEVE KEEN 2/10/2014 The financial crisis took the vast majority of the economics profession by surprise. Though there were individual mainstream economists—such as Robert Shiller and Joseph Stiglitz—who have a claim to having warned of the crisis, no mainstream economic model foresaw anything like what eventuated in 2007. ...

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