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Why Mainstream Economics Got Inflation Wrong

James K. Galbraith Project Syndicate
Leading economists' misdiagnosis of inflation in 2021-22 was the latest episode in a long-running series of failures. Either mainstream economists need to re-examine their core beliefs, or the profession needs a new mainstream.

books

The Gatekeeper: Charting Paul Krugman’s Economics Turn for the Better

Adam Tooze London Review of Books
A systemic look at the evolving intellectual career of New York Times economics writer and Nobel laureate Paul Krugman in his shift from herald of neoliberal globalism to an emphasis on class and the public policies that address social inequities.

New York Times Invents Left-Leaning Economists to Attack Bernie Sanders

Dean Baker; Doug Henwood
All the news that's fit...well, it seems the NYT news story has been tailored to fit the editorial views of the paper. There are undoubtedly many left of center economists who have serious objections to the proposals Sanders has put forward, there are also many who have publicly indicated support for them. He has not given a fully worked out proposal for many of his ideas, nor is it reasonable to expect a fully worked out proposal from a candidate for the presidency.

Joseph Stiglitz, Thomas Piketty and Other World-Renowned Economists Demand End to Greek Austerity

Martin de Bourmont In These Times
26 top world economists say austerity is not working, won't and can't. The future of the EU is at stake in the negotiations between Greece and its creditor institutions, now close to a climax. To avoid failure, concessions will be needed from both sides. From the EU, forbearance and finance to promote structural reform and economic recovery, and to preserve the integrity of the Eurozone.
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