This is part of our economists roundtable on the corona crisis. The corona crisis has obliterated, one hopes for all time, certain shibboleths of the economic textbooks and the Congressional Budget Office. Among these, especially, are crowding out, deficit and debt thresholds, and the natural rates of interest and unemployment. If the pseudo-Keynesian notion of […]
James K. Galbraith
James K. Galbraith holds the Lloyd M. Bentsen, Jr. Chair in Government/Business Relations at the Lyndon B. Johnson School of Public Affairs, the University of Texas at Austin. He is a member of the Lincean Academy and author most recently of Inequality: What Everyone Needs to Know (Oxford University Press, 2016).
Posted inEconomic Policy
The Dismal Forecasts of the Dismal Scientists
How economists keep getting things wrong and not learning from their mistakes
Posted inAmerica and the World
The Fate of Italy and Europe
The North-South-right-left new government poses huge challenges to the continent—not least because in the short term, its economics may work.
Posted inAmerica and the World
The Future of the Left in Europe
Austerity is a disaster, so why is the left in disarray?
Posted inAmerica and the World
The Future of Europe
Unless it can restore the principles of growth and sovereignty on which it was founded, the Eurozone may not last.
Posted inAmerica and the World
Greece: Only the ‘No’ Can Save the Euro
As Greece prepares for a referendum on its creditors’ demands for austerity, the future of Europe hangs in the balance.
Posted inAmerica and the World
What is Reform? The Strange Case of Greece and Europe
Why creditors’ demands would only prolong Greece’s crisis.
Posted inFeatures
When Should We Retire? Two Views
With so much focus on the deficit, many assume entitlement programs should be cut. But there is a progressive argument for raising the retirement age, and one for lowering it.
Posted inSpecial Report
On the Economics of Deficits
Most of the federal deficit is caused by the recession itself. To cure the slump, fix the financial system.
Posted inArticle
How Much Will It Cost and Will It Come Soon Enough?
Could the current bailout bill have been better? Yes. But there are still a few fixes Congress should consider.