Author Naomi Klein wrote a book a few years ago called Shock Doctrine. It is a powerful antidote to the pro-free markets, pro-globalization stories of authors such as Daniel Yergin and Stanislaw who wrote Commanding Heights. I wish Shock Doctrine were a full-length video to juxtaposition against Commanding Heights. In the book, Klein documents how … Continue reading Shock Doctrine and Wisconsin and Michigan
This morning the news came that more than 2 weeks after the tsunami in Japan, 4 of the 6 nuclear reactors at Fukashima are still not stable. Indeed, 1 or 2 of the reactors are suspected of having leaks from, at best, the pipes into and out of the core reactor containment housing, and, at … Continue reading Corporate Influence – GE and Radioactive Fallout
An update on the question of structural vs. cyclical unemployment, this time with respect to policy options for each. For background, see these previous posts: on how economists define or distinguish between structural and cyclical and a look at the situation in 2011. Time is short and specialization is efficient, so I'll quote Mark Thoma … Continue reading Structural vs. Cyclical Unemployment Revisited: Doing Nothing Is Not a Smart Option
A colleague (non-econ) asks: What's a "derivative" in plain terms? The plainest answer, yet not very helpful, is that derivatives are a Wall Street cross between the Frankenstein monster and the blob: they're a banker-made monster that's out of control and swallowing the global economy. But let's look at derivatives in a less inflammatory way. … Continue reading What’s A Derivative?