…intellectual energy analyzing capitalism — how surplus value is extracted, how class relations form, how markets expand, how crises emerge from systemic contradictions. Das Kapital, all three volumes of it,…

by Mike Kimel Markets Need Regulators – Food Edition Back in college, I had a chat with one of my more libertarian economics professors about the need for regulation. He…

…are less efficient (in the sense of the efficient markets hypothesis) than markets with a low volume of trade. History shows that making markets convenient for traders, including really smart…

…from unproductive groups to productive groups and sometimes in the form of policies to convert unproductive groups into productive ones. Creating “rents” (above normal market returns) by “distorting” markets through…

…the difference between allocative efficiency and gross inefficiency. For policy makers there is a huge huge difference between “markets are approximately informational efficient” and “markets are informational efficient.” The second…

…“The Price of Casino-Like Finance is Higher Than We Think (jan. 2, 2010), in which Maxine “marvel[s] at the disconnect between what her economics textbooks assert and the realities.” Markets…

…? Certainly not according to definition 2. Certainly according to people who say that the problem with financial markets is a loss of liquidity. This gives third definition 3) Liquidity…

rdan Jamie Galbraith in the Predator State: Galbraith follows with an impertinent question: if conservatives no longer take free markets seriously, why should liberals? Why keep liberal thought in the…

…argue that the simultaneous existence of imperfect capital markets and problematic contract enforcement create conditions in which a non-monetized transaction is Pareto improving relative to the most likely alternative, which…

…have been a collapse of financial markets before now. “The single most interesting thing about today’s global economy is what has not occurred.” Neither bond nor stock markets in the…