Tuesday, January 5, 2021

The Worldly Philosophers go to Washington: Bankers and Generals

Fourth episode, where I discuss the Bank Wars, in particular the disputes between Biddle and Jackson, its relation to the Bullionist Controversy in England, and the ideas of Henry Carey, of whom Marx said: “bourgeois society in the United States has not yet developed far enough to make the class struggle obvious and comprehensible is most strikingly proved by H. C. Carey (of Philadelphia), the only American economist of importance."

Rethinking the determination and long-run evolution of income distribution

New paper by Thomas Palley. From the abstract: This paper presents a theory and model of long-run cycles in income inequality. The model exp...