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«Keynes would have hated the excessive ‘financialization’ of today»

Lord Skidelsky, Keynes’s biographer, presenting his new book about The Master. A short interview.

Retoma: o fantasma do modelo “japonês” ronda os países “ricos”

E depois da crise, no ‘Ocidente’? Assistiremos ao regresso do crescimento dourado ou da estagnação secular? Os economistas dividem-se. Os pessimistas falam de uma “retoma” anémica nos países “ricos”, da condenação a um crescimento de tipo “japonês”. Os optimistas vêm na inovação a luz ao fundo do túnel

O Manifesto de Paul Krugman: regresso a Keynes ou que mil flores floresçam?

A “loja” dos economistas está ao rubro. Um dos keynesianos mais reputados resolveu partir a loiça fabricada pela teoria da ‘eficiência dos mercados’. Paul Krugman vs. Eugene Fama, ainda que nenhum dos dois se refira ao outro. Mas muitos economistas, que têm intervido no debate, propõem um caminho nem unipolar nem bipolar, mas de debate diversificado e de investigação plural. Que várias escolas de pensamento floresçam – pode ser o mote.

The end of money manager financial capitalism

«This current crisis is probably so severe that it will not only destroy a considerable part of the managed money, but it has already thoroughly discredited the money managers. Perhaps this will prove to be the end of this stage of capitalism—the money manager phase. Of course, it is too early to even speculate on the form capitalism will take.»

Remembering Hyman Minsky – a conversation with L. Randall Wray

«The role of finance has to be fundamentally rethought»

An alternative to the current mess would be to rethink the very basis of banking and finance, the essence of the financial rent-seeking economic model developed since the 1970s. But it is truly a political question, not an economic one, although it is an interesting debate for economists. Voters at polls will decide: «Do people want that? I can’t answer that question for them», says Professor Jamie Morgan. In the Economics field, the 2007-2009 crisis just smashed a certain brand of applied monetarism and also a kind of bastard Keynesianism. More heterodox thinking is required.

A conversation with Jamie Morgan, University of Helsinki

The chief-economist the central bankers do not listened to

William White warned of the coming big financial crisis. But the selected “club” of central bankers ignored him. Great moderation, procyclicality, a monetary miracle-policy, the substantial decline in volatility, a stable economy with continued growth, an economy closer to the efficient frontier where the business cycles were “managed” and the crashes shorter and shorter, all this “optimistic” mantra was the mainstream economic thought over the last twenty years inside the central bankers system. And coupled with this paradigm, grown and reign the greatest ever known rent-seeking financial paradise. Suddenly in mid of 2007, two years ago, the reality engulfed the club. William was right, but it was too late. A conversation with this contrarian economist.

“Comparar com 1929 é um erro”

Teremos de recuar até à Grande Depressão de 1873 para encontrar paralelo válido, diz o historiador económico americano Scott Nelson.

G20 – The geopolitical advantage: different perspectives together in one place

An Interview with IMF historian James Boughton about the promise of the G20. Thoughts about the next April 2 summit in London and Lessons from History. An exclusive interview.

A solução é a eutanásia da economia fictícia

O historiador económico Michael Hudson foi a Keynes repescar a ideia de que a solução é ir à raiz dos problemas, a economia de rendas, algo que o grande economista julgava transitório mas que se transformou num sistema que vive de uma pirâmide artificial que vale hoje 8 vezes a economia real mundial

The medicine suggested by Keynes: Euthanasia of the ‘rentier’ system

An interview with Michael Hudson about the financial and economic crisis: «Bankruptcy seems to be the indicated way to wipe it out. Governments are postponing this resolution by bailing out creditors – not debtors.»