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Galbraith on the Fiscal Cliff

By James K. Galbraith

In the tense run-up to Hurricane Sandy, I clicked on one of those headlines that appears on the right side of the screen: “Civilization May Not Survive This, Economist Says.”

Once there, I knew I’d been had. It was about … the public debt. It cited one Lawrence Kotlikoff of Boston University, one of America’s most talented artificers, who “estimates the true fiscal gap is $211 trillion when unfunded entitlements like Social Security and Medicare are included.” Compared to that, what’s a thousand mile-wide hurricane?

Read the rest here.


  1. Olá Matias, sou um aluno de economia da UFRJ do 2o periodo,tenho 20anos, e conheci voce atraves de um video no BNDES. Eu ainda conheço pouco de economia mas ultimamente me interessei pela Argentina e suas taxas de crescimento e inflação. No ultimo mes vi o maior numero possivel de videos de Axel Kicillof, voce deve conhecer. Eu não sei como posso falar contigo de uma forma mais direta, mas pode ser por aqui mesmo.

    Que livros essenciais voce recomendaria para um aluno que simpatiza com keynes;kalecki, tendo em vista o brasil do futuro e o contexto mundial.. Sem querer apporinhar teu saco, ta claro, haha, abração

    1. Oi Alex. Pro Kalecki basta ele mesmo. Pro Keynes o livro do Amadeo (da tese de doutorado), Keynes' Principle of Effective Demand ainda é o que há de melhor. Um texto meu sobre o assunto aqui De resto, voce tem a sorte de ter Franklin, Fabio, Summa e Crespo por ai.

  2. Ah se possivel a tua analise desse Axel Kicillof, eu ate comprei um livro da UBA dele de historia economica.. e se voce pudesse falar um pouco de como voce chegou ate o banco central argentino e dar uma breve falada sobre a economia dos hermanoides.. abraçao

    1. Nao li nada dele, mas parece um economista heterodoxo (crescimento pela demanda, moeda endógena e precos de producao). Por sinal, é o economista heterodoxo na fazenda. O banco tem uma presidente heterodoxa, dai ter espaco pra economistas como eu.

  3. Obrigado.. Voce se formou na UFRJ também? Como foi sua experiencia lá? Seguirei teu blog, abração

    1. Isso, graduacao e mestrado. Boa; uma formacao plural e com bons economistas heterodoxos. Obrigado.


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