Monday, March 30, 2015
  1. Economics

    The Monetarist Mistake

    J. Bradford DeLong
    Economics

    The Monetarist Mistake

    0

     explains how the power of a misguided idea led to a tepid response to the Great Recession.

    Wrong way go back sign Johnny Jet/Flickr

    The inadequate response to the Great Recession reflects policymakers' acceptance of Milton Friedman's analysis of the Great Depression. And yet the dominance of Friedman's monetarism has less to do with the evidence supporting it than with the fact that economics is all too often tainted by politics. READ MORE

  2. Sustainability & Environment

    Why the Sustainable Development Goals Matter

    Jeffrey D. Sachs
    Sustainability & Environment

    Why the Sustainable Development Goals Matter

    1

     is optimistic about the next stage in fighting poverty, inequality, and environmental degradation.

    Vermont river sunset Adam Riquier/Flickr

    The Sustainable Development Goals will continue the fight begun by the Millennium Development Goals against extreme poverty, and add targets relating to inclusiveness and environmental sustainability. But will a new set of goals actually be able to catalyze a shift from business as usual to true sustainable development? READ MORE

  3. Economics

    Secular Stagnation for Free

    Ricardo Hausmann
    Economics

    Secular Stagnation for Free

    7

     argues that much economic progress goes unmeasured, because no one is paying for its benefits.

    Facebook logo beach mkhmarketing.wordpress.com/Flickr

    For some reason, achieving a level of investment that would generate full employment seems to require negative real interest rates, which is another way of saying that people have to be paid to invest. In fact, to harness the possibilities of new technology, we may need non-market forms of payment for valuable contributions. READ MORE

  4. Culture & Society

    Why Sanctions on Russia Don’t Work

    Andrei Kolesnikov
    Culture & Society

    Why Sanctions on Russia Don’t Work

    13

     shows that Western pressure has caused Russians to close ranks behind the Kremlin.

    Pro Russia rally St Basil Cathedral Anna Sergeeva/ZumaPress

    The Western approach to Russia assumes that continued pressure on the country will cause President Vladimir Putin’™s regime to make concessions or even crumble. But, as recent opinion polls suggest, such an approach is less likely to undermine the regime than to cause Russians to close ranks in Putin’s defense. READ MORE

  5. Economics

    Messed-Up Macro

    Robert Skidelsky
    Economics

    Messed-Up Macro

    30

     on why the right economic policies cannot work without the right public expectations.

    Glasses page of number equations economic Ruth/Flickr

    Once beliefs and expectations are introduced into economics, as is surely reasonable, the results of fiscal and monetary policy become indeterminate. Too much depends on what people think the results of the policy will be. READ MORE

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