Today’s global economy is more complex than Aesop could have imagined

Jon Sindreu is a reporter for the Wall Street Journal where he covers financial markets and the global transportation industry for the Heard on the Street column. Jon joins David on Macro Musings to

Matthew Klein is an economics commentator at Barron’s and is the author of a new book with Michael Pettis titled, *Trade Wars are Class Wars: How Rising Inequality Distorts the Global Economy and

Right at the very end of John Maynard Keynes’s The General Theory of Employment, Interest, and Money is this arresting passage (emphasis mine): War has several causes. Dictators and others such, to...

It has become commonplace to assert that current-account imbalances were a key factor in stoking subprime lending in the US. This column says the ‘global banking glut’, i.e. the rise in cross-border

A “global saving glut” was invented by Ben Bernanke in 2005 as a label for positive net lending (imports exceeding exports) to the American economy by the rest of the world. However, there is a more...

An alternative look at the

The Collapse of Free Market Macroeconomics

A Guide to the Kalecki-Levy Profits Equation

Offered by Columbia University. The last three or four decades have seen a remarkable evolution in the institutions that comprise the modern monetary system. The financial crisis of 2007-2009 is a...

What kind of

Before pausing for an interlude about the dueling reviews of Hayek and Hawtrey on each other’s works in the February 1932 issue of Economica, I had taken my discussion of the long personal an…

In a post earlier this week, Michael Pettis was kind enough to refer to a passage from Ralph Hawtrey’s review of Keynes’s General Theory, which I had quoted in an earlier post, criticizing Keynes’s…

In general, I read Michael Pettis, Brad Setser and Matthew Klein and am amazed by what I learn. They are experts in the best sense of the word: inquisitive, open to argument and very effective at p…

From the chief economic commentator for the Financial Times—a brilliant tour d’horizon of the new global economy   There have been many books that have sought to explain the...

This is a commentary on Chapter 5 of Martin Wolf’s book, The Shifts and the Shocks. Martin Wolf’s explanation of the euro zone crisis, and of the problems created for the currency union…

A new book looks at why global conflicts owe more to divisions within countries than between them