Sunday, February 5, 2017

On the blogs

Why Did Latin American Import Substitution Industrialisation Run into Serious Problems by 1970s/1980s? -- Lord Keynes provides a summary of Erik Reinert views. If he is accurate, I have a lot of problems with Reinert's views, btw (perhaps more on that in a post)

Scarce workers? -- In which David Ruccio says workers are abundant and that's why wages have been growing slowly. I think pay goes beyond scarcity/abundance, but he is not wrong on the state of the labor market

Post Keynesian Dynamic Stochastic General Equilibrium Theory -- In which Roger Farmer tells us that he hopes "the shock of the Great Recession will catalyze interbreeding between new-Keynesian and heterodox economists. If I am right, more of my neo-classical contemporaries will need to listen to the drum beat that post-Keynesians have been sounding for sixty years." Not sure if DSGE is the way to go though

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MMT in Developing Countries at the Real News Network

Full transcript of the short interview here. Paper was linked before. Note that we say that Functional Finance does apply to developing c...