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WEA eBooks

 

Finance as Warfare

Michael Hudson

 

The Scientist and the Church

Shimshon Bichler and Jonathan Nitzan

 

The Economy of the Hamster

Mauro Gallegati

 

On the use and misuse of theories and models in economics

Lars Pålsson Syll

 

Bubble Economics: Australian Land Speculation 1830 – 2013

Paul D. Egan and Philip Soos

 

Developing an economics for the post-crisis world

Steve Keen

 

Nuevos paradigmas, desarrollo económico y dinámica social

Jorge Buzaglo

 

Statistical Foundations for Econometric Techniques

Asad Zaman

 

Wealth and Illfare: An Expedition through Real Life Economics

C. T. Kurien

 

Appreciating Mental Capital: What and Who Economists Should Also Study

Robert Locke

 

 

 

 

 

 

 

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Current issue – no. 89 – 3 October 2019      
Click here to subscribe for free and download current issue

 

Issue no. 89

Special Issue

Modern monetary theory and its critics

      3 October 2019    

 

Introduction: Whither MMT?

The editors

2

 

Alternative paths to modern money theory

L. Randall Wray

5

 

Initiating a parallel electronic currency in a eurocrisis country – why it would work

Trond Andresen

23

 

An MMT perspective on macroeconomic policy space

Phil Armstrong

32

 

Monetary sovereignty is a spectrum: modern monetary theory and developing countries

Bruno Bonizzi, Annina Kaltenbrunner and Jo Michell

46

 

Are modern monetary theory’s lies “plausible lies”?

David Colander

62

 

What is modern about MMT? A concise note

Paul Davidson

72

 

Modern monetary theory: a European perspective

Dirk H. Ehnts and Maurice Höfgen

75

 

MMT: the wrong answer to the wrong question

Jan Kregel

85

 

Modern monetary theory and post-Keynesian economics

Marc Lavoie

97

 

Money’s relation to debt: some problems with MMT’s conception of money

Tony Lawson

109

 

The sleights of hand of MMT

Anne Mayhew

129

 

Tax and modern monetary theory

Richard Murphy

138

 

Macroeconomics vs. modern money theory: some unpleasant Keynesian arithmetic and monetary dynamics

Thomas I. Palley   

148

 

MMT and TINA

Louis-Philippe Rochon

156

 

Modern monetary theory: is there any added value?

Malcolm Sawyer

167

 

The significance of MMT in linking money, markets, sector balances and aggregate demand

Alan Shipman

180

 

The political economy of modern money theory, from Brecht to Gaitskell

Jan Toporowski

194

 

Board of Editors, past contributors, submissions, etc.

203

 

 

Issue no. 88 10 July 2019    download whole issue

 

Make-believe empiricism

Is econometrics relevant to real world economics?          2
Imad A. Moosa          download

 

The fiction of verifiability in economic “science”         14

Salim Rashid          download

 

Nominal science without data – the artificial Cold War content of Game Theory and Operations Research          29

Richard Vahrenkamp           download

 

Real GDP: the flawed metric at the heart of macroeconomics          51

Blair Fix, Jonathan Nitzan and Shimshon Bichler          download

 

Realism and critique in economics: an interview with Lars P. Syll          60

Lars P. Syll and Jamie Morgan          download

 

Digital currency. Design principles to support a shift from bankmoney to entral bank digitalcurrency          76

Joseph Huber          download

 

Economics and the shop floor: reflections of an octogenarian          91

Robert R. Locke          download

 

Can redistribution help build a more stable economy?          108

Dimitri B. Papadimitriou, Michalis Nikiforos, and Gennaro Zezza          download

 

What can economists and energy engineers learn from thermodynamics beyond the technical aspects?          130

Abderrazak Belabes          download

 

Metaphors for the evolution of the American economy: progressing from the invisible and visible hands to the humanistic hand          144

John F. Tomer          download

 

Permanent fiscal deficits are desirable for the high income countries: a note          159

Leon Podkaminer          download

 

Board of Editors, past contributors, submissions, etc.          163

 

 

 

 

Issue no. 87 19 March 2019    download whole issue

Special Issue: ​​​​​​​​​​​​​​Economics and the Ecosystem

Introduction            2
Jamie Morgan and Edward Fullbrook           download

Growthism: Its ecological, economic, and ethical limits           9
Herman Daly          download

Producing ecological economy          23
Katharine N. Farrell          download

Dog barking, overgrazing and ecological collapse          33
Edward Fullbrook          download

Addressing meta-externalities: investments in restoring the earth          36
Neva Goodwin          download

Degrowth: A theory of radical abundance          54
Jason Hickel          download

Environmental financialization: What could go wrong?          69
Eric Kemp-Benedict and Sivan Kartha          download

Elements of a political economy of the postgrowth era         90
Max Koch          download

Victim of success: civilisation is at risk         106
Peter McManners          download

Economism and the Econocene: A Coevolutionary Interpretation          114
Richard B. Norgaard          download

End game: The economy as eco-catastrophe and what needs to change          132
William E. Rees          download

An ecosocialist path to limiting global temperature rise to 1.5°C0          149
Richard Smith          download

Toward sustainable development: Democracy-oriented economics          181
Peter Söderbaum          download

Like blending chalk and cheese          196
Joachim H. Spangenberg and Lia Polotzek          download

Of Ecosystems and Economies: Re-connecting economics with reality          213
Clive L. Spash and Tone Smith          download

How to achieve the sustainable development goals by 2050 231
Per Espen Stoknes          download

The simpler way: envisioning a sustainable society in an age of limits 247
Ted Trainer and Samuel Alexander          download

Board of Editors, past contributors, submissions, etc.          261

 

 

issue no. 86 – 10 December 2018       download whole issue

 

Who is behind the campaign to rid the world of cash

Norbert Haering        download

2

The trouble with human capital theory

Blair Fix        download

15

A progressive trade policy

Dean Baker        download

33

The transformational role of the Great Recession for economic governance

Constantine E. Passaris        download

45

Realizing nudging’s potential: improving well-being and reducing socio-economic dysfunction

John F. Tomer        download

66

A comment on corporations

Peter Radford        download

83

The enigmatization of economic growth

Bernard C. Beaudreau        download

92

Lest they be forgotten: inequality in non-capitalist economies during the 20th century

Michael Ellman        download

106

REVIEW ESSAYS

The Public Economy in Crisis: A Call for a New Public Economics by June Sekera

W. Milberg        download

 

119

Technology and Isolation: Clive Lawson on the impact of technology on the economy and society

Nuno Ornelas Martins        download

125

INTERVIEW

Heterodox economics and economic methodology: an interview with John Davis

Jamie Morgan        download

 

134

NOTE

A tale of two Germanies. Any lessons for Central Europe? A note

Leon Podkaminer        download

 

149

Board of Editors, past contributors, submissions, etc.

152

 

 

issue no. 85 19 September 2018         download whole issue

 

Globalization checkmated?

Thomas I. Palley         download pdf

2

Post-crisis, next crisis

Capital and class: inequality after the crash

David Ruccio and Jamie Morgan         download pdf

 

15

Post-crisis perspective: sorting out money and credit and why they matter!

John M. Balder         download pdf 

25

With their back to the future: will past earnings trigger the next crisis?

Shimshon Bichler and Jonathan Nitzan         download pdf

41

Changing economics

Radical paradigm shifts

Asad Zaman         download pdf

 

57

How to transform economics and systems of power?

Deniz Kellecioglu         download pdf 

62

Economics and normativity in four sections 

Jamie Morgan         download pdf

84

From Pareto economics, to Pareto politics, to fascism

Jorge Buzaglo         download pdf

97

Trump politics towards Mexico

Alicia Puyana         download pdf  

123

Note: A brief critical note regarding recent “crowding out” claims

Leon Podkaminer         download pdf

142

Board of Editors, past contributors, submissions, etc.

145

 

 

issue no. 84  19 June 2018         download whole issue

 

Special issue on the public economy and a new public economics

Edited by Michael Bernstein and June Sekera

Reconstructing a public economics: markets, states and societies          2
Michael A. Bernstein          download pdf

 

There is more than one economy          16
Neva Goodwin         download pdf

 

The public economy: understanding government as a producer.          36
A reformation of public economics
June Sekera         download pdf

 

Economic benefits of public services          100
David Hall and Tue Anh Nguyen          download pdf

 

Bureaucracy shouldn’t be a dirty word:
the role of people-responsive bureaucracy in a robust public economy          154
Janine R. Wedel          download pdf

 

The need for a new public administration          170
James K. Galbraith         
download pdf

 

Industrial policy, then and now          178
Victoria Chick         download pdf

 

Putting the nation-state back in: public economics and the global economy          189
Michael Lind          download pdf

 

The entrepreneurial state: socializing both risks and rewards          201
Mariana Mazzucato          download pdf

 

Board of Editors, past contributors, submissions, etc.          218

 

 

issue no. 83  26 March 2018         download whole issue

Ten years after the crisis: a lost decade?          2
Steven Pressman and Robert Scott           download pdf        

The great marginalization: why twentieth century economists neglected inequality          20
Eli Cook           download pdf

Game Theory
          On the current state of game theory          35
          Bernard Guerrien           download pdf

          Why game theory never will be anything but a footnote in the history of social science          45
          Lars Pålsson Syll
           download pdf

Employment
          The creation of jobs         65
          Michael Joffe 
        download pdf

          Employment in a just economy          87
          John Komlos          download pdf

Business Studies
          Managing the engines of value-creation          99
          J.-C. Spender          download pdf

          The effect of academic business studies in Germany and America in the modern era          116
          Robert R. Locke          download pdf

Does the maximization principle break down during recessions?          138
Philip George          download pdf

The political economy of reforms in Europe          147
Yiannis Kokkinakis          download pdf

Book review essay
The Vienna school of ecological economics          163
Katharine N. Farrell          download pdf

Board of Editors, past contributors, submissions, etc.          170

 

 

issue no. 82  13 December 2017         download whole issue

 

China’s drivers and planetary ecological collapse          2 
Richard Smith        
 download pdf

 

The Saudi Palace coup, the oil market, China and the United States          29

Ali Kadri          download pdf

 

Teaching relevant microeconomics after the global financial crisis          47
Michel S. Zouboulakis          
download pdf

 

On microfoundations of macroeconomics          60
Prabhath Jayasingh          
download pdf

 

The trouble with distribution theory         76
Bernard C. Beaudreau          
download pdf

 

Trumping the NAFTA renegotiation          94
Robert A. Blecker, Juan Carlos Moreno-Brid and Isabel Salat          
download pdf

 

Assessing the impact of austerity in the Greek economy          122
Nasos Koratzanis and Christos Pierros          
download pdf

 

Why Buddhist economics is needed          143
John F. Tomer          download pdf

 

book review 
Independent thinking in an interdependent world          159
Jamie Morgan          
download pdf

 

Board of Editors, past contributors, submissions, etc.          175

issue no. 81 30 September 2017          download whole issue

 

Involuntary unemployment         2

Roy Grieve           download pdf

 

Fixing the Euro’s original sins           15

Thomas Palley           download pdf

 

Missing from the mainstream: The biophysical basis of production and the public economy          27

June Sekera           download pdf

 

Why does capital flow from poor to rich countries?           42

Michael Joffe           download pdf

 

The case for taxing interest          63

Basil Al-Nakeeb           download pdf

 

Why consumers are not sovereign: The socio-economic causes of market failure          76

John F. Tomer          download pdf

 

Economics as a science          91

Adam Fforde           download pdf

 

An ontology for the digital age? Review of Profit and Gift in the Digital Economy          110

Jamie Morgan           download pdf

 

The resource curse reloaded          118

Paulo Gala, Jhean Camargo and Guilherme Magacho           download pdf

 

Transient development          135

Frank Salter           download pdf

 

Board of Editors, past contributors, submissions, etc.           168

 

 

issue no. 80 -  30 June 26 2017        download whole issue

 

Inequality, democracy and the ecosystem

Politics, preferences, and prices: the political consequences of inequality          2
Luke Petach           download pdf

The triumph of Pareto          14
Gary Flomenhoft           download pdf


Do we need a new economics for sustainable development?          32
Peter Soderbaum          download pdf
 

From green growth towards a sustainable real economy          45
Jørgen Norgard and Jin Xue         download pdf


Money

Split-circuit reserve banking - functioning, dysfunctions and future perspectives          63
Joseph Huber         download pdf


The coming revolution in political economy          85
Tim Di Muzio and Leonie Noble         download pdf


Keynesian issues

Derivation of involuntary unemployment from Keynesian microfoundations          109
Philip George         download pdf


Asymmetric price adjustment: the missing link in Keynesian macroeconomics          121
Victor Beker         download pdf


Nations

Chinese economics as a form of ethics          148
Kazimierz Poznanski         download pdf


A brief history of Pakistan’s economic development          171
Muhammad Iqbal Anjum and Pasquale Michael Sgro          download pdf


Review essays

Negating 1984: Michael Hudson’s antidote to doublespeak in economics          179
Jamie Morgan          download pdf


Deserving economics          186
Peter Radford         download pdf


A note

Trade imbalances are undesirable          193
Leon Podkamine          
download pdf


Board of Editors, past contributors, submissions and etc.          197

 

 

issue no. 79 - 30 March 2017        download whole issue

Trumponomics: causes and consequences

Part II

30 March 2017

 

Economic policy in the Trump Era           2

Dean Baker            download pdf

 

Major miscalculations: globalization, economic pain, social dislocation and the rise of Trump        13
W
illiam Neil             download pdf

 

Trumponomics and the developing world            29

Jayati Ghosh             download pdf

 

Nature abhors a vacuum: sex, emotion, loyalty and the rise of illiberal economics            35

Julie A. Nelson             download pdf

 

Is Trump wrong on trade? A partial defense based on production and employment           43

Robert H. Wade             download pdf

 

President Trump and free-trade            64

Jacques Sapir             download pdf

 

U.S. private capital accumulation and Trump`s economic program            74

Jim Stanford             download pdf

 

Trumponomics and the `post-hegemonic world`            91

Barry K Gills and Heikki Patomaki             download pdf

 

Pussynomics: regression to mean            08

Susan Feiner             download pdf

 

Trump`s contradictions and the future of the Left            115

Boris Kagarlitsky             download pdf

 

Trumponomics, firm governance and US prosperity            120

Robert R Locke             download pdf

 

Donald Trump, American political economy, and the `terrible simplificateurs`            136

Kurt Jacobsen and Alba Alexander             download pdf

 

Mexico, the weak link in Trump`s campaign promises            142

Alicia Puyana             download pdf

 

`unemployment`: misinformation in public discourse            158

Edward Fullbrook             download pdf

 

Board of Editors, past contributors, submissions and etc.            163

 

 

Issue no. 78 - 22 March 2017        download whole issue

Trumponomics: causes and consequences
Part I

Preface          download pdf

 

Trumponomics: everything to fear including fear itself?          3
Jamie Morgan          download pdf                                                                           

 

Can Trump overcome secular stagnation?          20                                  
James K. Galbraith            download pdf      

 

Trump through a Polanyi lens: considering community well-being          28
Anne Mayhew            download pdf     

 

Trump is Obama`s legacy. Will this break up the Democratic Party?          36

Michael Hudson          download pdf

 

Causes and consequences of President Donald Trump          44
Ann Pettifor               download pdf     

 

Explaining the rise of Donald Trump          54
Marshall Auerback          download pdf 

 

Class and Trumponomics          62                   
David F. Ruccio          download pdf 

 

Trump's Growthism: its roots in neoclassical economic theory          86
Herman Daly          download pdf 

 

Trumponomics: causes and prospects          98
L. Randall Wray          download pdf 

 

The fall of the US middle class and the hair-raising ascent of Donald Trump       
Steven Pressman          
download pdf          112

 

Mourning in America: the corporate/government/media complex          125
Neva Goodwin          download pdf 

 

How the Donald can save America from capital despotism          132
Stephen T. Ziliak          download pdf 

 

Prolegomenon to a defense of the City of Gold          141
David A. Westbrook          download pdf 

 

Trump`s bait and switch: job creation in the midst of welfare state sabotage
Pavlina R. Tcherneva           download pdf          148

 

Can `Trumponomics` extend the recovery?          159
Stephanie Kelton           download pdf 

 

Board of Editors, past contributors, submissions and etc.          173     

 

 

Issue no. 77 - 10 December 2016        download whole issue

 

Human growth and avoiding European disintegration: lessons from Polanyi          2     
Jorge Buzaglo          download pdf 

 

Uncertainty about uncertainty: the futility of benefit-cost analysis for climate change policy          11
Mariano Torras          download pdf 

 

Growthism: A Cold War leftover           26
Herman Daly          download pdf

 

Finance capital and the nature of capitalism in India today         30 
C.P. Chandrasekhar          download pdf

 

Competitiveness and its leverage in a currency union: how Germany gains from the euro         40
Thanos Skouras          download pdf

 

Rethinking rationality theory`s epistemological status: normative vs. positive approach        50
Gustavo Marques and Diego Weisman          download pdf

 

Time and the analysis of economic decision making          64
Donald Katzner          download pdf

 

The mathematical equivalence of Marshallian analysis and `General Equilibrium` theory          73
Philip George            download pdf   

 

The problem with production theory          85
Bernard C. Beaudreau          download pdf

 

Trade surpluses of countries trading with the United States          102
John B. Benedetto          download pdf

 

A CasP model of the stock market          118
Shimshon Bichler and Jonathan Nitzan          download pdf

 

A New `General Theory`? A review of Capitalism by Anwar Shaikh          155
Bernard Guerrien          download pdf

 

Board of Editors, past contributors, submissions and etc.             168

 

 

 

Issue no. 76 - 30 September 2016           download the whole issue

 

Negative interest rates or 100% reserves: alchemy vs chemistry

Herman Daly           download pdf

 

Why negative interest rate policy (NIRP) is ineffective and dangerous

Thomas I. Palley            download pdf 

 

Japan's liquidity trap

Tanweer Akram           download pdf

 

Paul Romer's assault on 'post-real' macroeconomics

Lars Palsson Syll           download pdf 

 

Another reason why a steady-state economy will not be a capitalist economy

Ted Trainer           download pdf

 

Using regression analysis to predict countries' economic growth:

illusion and fact in education policy

Nelly P. Stromquist           download pdf

 

Can a country really go broke? Deconstructing Saudi Arabia's macroeconomic crisis

Sashi Sivramkrishna           download pdf 

 

Reconsideration of the Prebisch-Singer Hypothesis

Ewa Anna Witkowska           download pdf

 

Industrial policy in the 21st century: merits, demerits and how can we make it work

Mohammad Muaz Jalil           download pdf

 

Review Essays

 

Review of James Galbraith, Welcome to the Poisoned Chalice

Michael Hudson           download pdf

 

A travesty of financial history - which bank lobbyists will applaud

Michael Hudson            download pdf

 

Discussion

 

Capitalism, corporations and ecological crisis: a dialogue concerning Green Capitalism

Richard Smith, William Neil and Ken Zimmerman           download pdf

 

Board of Editors, past contributors, submissions and etc.

 

 

 

Issue no. 75 - 27 June 2016

 

The other half of macroeconomics and the three stages of economic development          2
Richard C. Koo          download pdf

 

Polanyi and the coming US president election          49
William R. Neil          download pdf

 

The political economy of the Paris Agreement on human induced climate change          67
Clive L. Spash          download pdf

 

Zucman on tax evasion and the U.S. trade deficit          76
John B. Benedetto          download pdf

 

The resource curse mirage          download pdf          92
Ricardo Restrepo Echavarria, Carlos Vazquez, Karen Garzon Sherdek

 

Economics as practical wisdom          113
Paul Spicker          download pdf

 

Everyday futures: Financial market stability in the performative social present          126
Erik Andersson          download pdf

 

Review Essays

Is the CORE eBook a possible solution to our problems?                     download pdf          135
Mouvement des etudiants pour la reforme de l'enseignement en economie

 

Rethinking Piketty: Critique of the critiques          143
Suzanne Helburn          download pdf

 

Note

A note on the aggregated production function and the accounting identity          152
Martin Zerner          download pdf

 

Opinion

Don’t ask economists, just listen to Sargent and ask the people          156
Peter Radford          download pdf

 

Poll Results

2016: Top 10 economics books of the last 100 years          download pdf          159
2006: Greatest Twentieth-Century Economists          
download pdf          160

 

Board of Editors, past contributors, submissions and etc.            download pdf          161

 

 

 

Issue no. 74 - 7 April 2016

 

Inequality, the financial crisis and stagnation             1
Thomas Palley                download pdf 

Deductivism - the fundamental flaw of mainstream economics              22

Lars Palsson Syll             download pdf 

 

Heterodox economics or political economy?              40

Frank Stilwell             download pdf 

 

History as a source of economic policy             49

Robert R. Locke             download pdf 

 

The natural capital metaphor and economic theory             64

Alejandro Nadal             download pdf 

 

Inferences from regression analysis: are they valid?              85

Steven Klees             download pdf 

 

Escaping the Polanyi matrix             98

Gary Flomenhoft             download pdf 

 

The petition against the Smoot-Hawley Tariff Bill: What 1,028 economists overlooked             124

Bernard C. Beaudreau             download pdf 

 

Review Essay

When the model becomes the message - a critique of Rodrik             139

Lars Palsson Syll              download pdf 

 

Board of Editors, past contributors, sumbissions and etc.               156

 

 

 

Issue no. 73 - 11 December 2015

 

What does `too much government debt` mean in a stock-flow consistent model?              2

David R Richardson             download pdf

 

Divine belief in Economics at the beginning of the 21st century             16

Emil Urhammer              download pdf 

 

The double discipline of neoclassical economics             27

Michel Gueldry             download pdf

 

Two worlds of minimum wage and a new research agenda             58

Ruya Gokhan Kocer               download pdf

 

The IMF and Troika's Greek bailout programs: an East Asian view             76

Hee-Young Shin              download pdf

 

Globalisation and sticky prices: `Con` or conundrum?              92

Kevin Albertson, John Simister and Tony Syme              download pdf 

 

Review Essays

 

Putting an end to the aggregate function of production... forever?              99

Bernard Guerrien and Ozgur Gun               download pdf

 

Paul Mason's PostCapitalism             110

Donald Gillies             download pdf

 

The long-term rate of interest as Keynes`s `villain of the piece`              120

Geoff Tily               download pdf

 

Notes

 

Mass Migration and Border Policy             130

Herman Daly              download pdf

 

Stiglitz and the `Greek morality tale`             133

Ali Abdalla Ali             download pdf

 

Board of Editors, past contributors, submissions and etc.               138

 

 

 

Issue no. 72 - 30 September 2015

 

Income inequality in the U.S. from 1950 to 2010: The neglect of the political          2

Holger Apel        download pdf 

 

A never ending recession? The vicissitudes of economics and economic policies          16
from a Latin American perspective

Alicia Puyana          download pdf

 

Capital accumulation: fiction and reality         47

Shimshon Bichler and Jonathan Nitzan         download pdf

 

Amartya Sen and the media         69

John Jeffrey Zink        download pdf 

 

A critique of Keen on effective demand and changes in debt          96

Severin Reissl         download pdf

 

Commodities do not produce commodities:
A critical view of Sraffa`s theory of production and prices          118

Christian Flamant          download pdf

 

Economic consequences of location: Integration and crisis recovery reconsidered         135

Rainer Kattel          download pdf

 

Global production shifts, the transformation of finance         147
and Latin America`s performance in the 2000s

Esteban Perez Caldentey          download pdf

 

Fight against unemployment: Rethinking public works programs         174

Amit Bhaduri, Kaustav Banerjee, Zahra Karimi Moughari         download pdf

 

Board of Editors, past contributors, submissions and etc.          186