
Did Capitalism Fail?
Sep 13, 2013 & argue that 2008's near-meltdown was a failure of contemporary economic models' understanding of the role of financial markets in capitalist economies.
Michael D. Goldberg is Professor of Economics at the University of New Hampshire. He is the co-author of Imperfect Knowledge Economics and Beyond Mechanical Markets.
Sep 13, 2013 & argue that 2008's near-meltdown was a failure of contemporary economic models' understanding of the role of financial markets in capitalist economies.
Huge fiscal and monetary stimulus programs have sparked a growing debate about whether advanced economies may sooner or later experience the sort of rapid price growth last seen a generation ago. While stimulus advocates point to current weak demand and the public’s deeply ingrained low-inflation expectations, anxious hawks fear that a new and dangerous global inflationary consensus may be taking hold.