Toward a new economic policy paradigm (tags)
Over the years, the institutionally enshrined budget discipline has created a considerable investment backlog. Important investments in infrastructure, education and climate protection have not taken place.
To give a credit to a customer, a bank doesn't need to take the savings of another cutomer from its vaults. It creates the money out of nothing. In a countermove, the bank must deposit money with the central bank. There is a debate whether the creation of money can be left to the banks.
The Autism of Economists (tags)
Analogous to a mechanical system, neoclassicists understood the economy as a perpetual cycle of production and consumption kept in balance by the price mechanism.
The Error is in the System (tags)
The financial crisis mutated into a global economic crisis and a state debt crisis. The financial crisis was not a "bump in the road" or an industrial accident but a systemic and structural crisis that caused $11 trillion of wealth to vanish while millions lost their jobs. homes and pension
The Invisible Hand Doesn't Help Any More (tags)
Neoclassicism starts from the assumpti8ons that people always act rationally and market processes always lead to optimal results on account of the price mechanism. The market fails. Its view of the person as Homo oeconomicus must be replaced by the Homo cooperativus.
On the Failure of the Mainstream Economy (tags)
The neoliberal mainstream economy and its political backers experienced their Waterloo with the most serious financial and economic crisis in eight decades. States bailed out banks and banks made money by lending back to states. A policy of reduced working hours is necessary.
The Crisis of Financial Market Capitalism as a Challenge for the Left (tags)
The crisis of neoliberal financial market capitalism broke out in its center and has one central systemic cause. This crisis was triggered by the independence of the financial sphere... A solidarity mixed economy, democracy and peace are alternatives.
The End of Finance Market Capitalism: Renaissance of Socialism? (tags)
The crisis offers an historical chance to civilize an unbridled capitalism with reform policy. The future relation of market and state is the focus of attention.. Financial markets are characterized by herd behavior. Risk consciousness disappears.
The Crisis of Finance Market Capitalism as a Challenge for the Left (tags)
"The problems we face today cannot be solved with the minds that created them" (Albert Einstein).
Financial Market Capitalism: Neoliberalis become State Socialists (tags)
Neoliberalism is neither new nor liberal. All freedom is demanded for capital, even though human dependence is intensified and human existences destroyed. The state becomes a functionary for neoliberal concepts. The debts of Fannie/Freddie are added to the nine trillion.
Free-Market Capitalism and Ecological Disaster (tags)
The Free-Market libertarian argues that business leaders see and understand the effects of long-term environmental damage. But business leaders concentrate on short term profits, thus the planet continues its free-fall toward ecological disaster.