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james crotty

The great austerity war (tags)

The great austerity war: what caused the US deficit crisis and who should pay to fix it? The right-wing coalition has been so successful over recent decades that the long-run challenges facing the country today are daunting.

Video: Is Obama Still on the Austerity Train? (tags)

James Crotty: Obama's budget is a "less savage" attack on social programs, but still assumes we are "living above our means"

VIDEO: Austerity Road to 19th Century (tags)

James Crotty is an emeritus professor of economics at U Mass in Amherst. Some economists are more worried about deficit than recession. Large financial institutions were rescued. Obama drank the Kool-Aid. Double-dip recession will lead to lower investment.

"False values" and "structural blackmail" (tags)

The creation of speculative bubbles creates false values, which lead to huge bonuses. The financial crisis was triggered by falling housing prices. The crisis was met with government bailoutsx but the "moral hazard" was not countered.

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