…minimum wages, capital taxation and import tariffs. I am quite sure that many of the economists in my department would be viewed as radical right-wing conservatives by members of other…

…contribution was to save capitalism from the capitalists And in this 2001 article from The Hoover Digest: How FDR Saved Capitalism This is a clear, cogent, and coherent story, but…

…by capital income could pull back too much as financial instability increases. Consumption by capital income has recently reached levels far beyond those seen before the crisis. I estimate that…

…employing labor and capital along the blue line. That has been the pattern for all business cycles before. The normal pattern is that once the business cycle settles into its…

…I wrote elsewhere, as the stock market and housing market slow down, declining consumption by capital income will offset consumption gains by labor. This is how I would explain the…

…the Nasdaq is down 1.81% for the day. The Dow has fallen below my attractor level of 16,800. A day when the stock market falls tends to make capitalists think…

…of profit rates. Profit rate = (Productivity – Real compensation) * Total labor hours/Capital stock Modified Profit rate = Capital share of income * Total labor hours/Capital stock The difference…

…to be $678 billion. Capital controls that had been imposed during the 1998 crisis were removed in the 2000s, and capital inflows, including bank loans and bond issues, increased significantly….

…composition of these capital flows. Eduardo Olaberría of the OECD has studied the impact of capital inflows, and reported that debt-based flows are more likely to be associated with increases…

…good fundamentals may be of little help for a government trying to shelter its economy from the instability in world markets. The importance of global (or “push”) factors for capital…