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A woman wearing a winter coat and a mask walks outside the headquarters of the International Monetary Fund, Washington, D.C., January 2022.

How the System Was Rigged

The global economic order and the myth of sovereignty.
by Branko Milanović via Foreign Affairs on June 21, 2022
Cover to Eric Helleiner's "The Neomercantilists: A Global Intellectual History," a Japanese=style screen print depicting men discussing business by a train, with boats in the background.

Developmental Realism

Now is a critical time to acquire a better understanding of this misunderstood and oversimplified philosophy known as Neomercantilism.
by Justin H. Vassallo via Phenomenal World on June 16, 2022
A line of cars waiting their turn at a filling station in Portland, Oregon, 1973.

The Price of Oil

The history of control and decontrol in the oil market.
by Gregory Brew via Phenomenal World on May 25, 2022
Poster with women pledging to "pay not more than top legal prices" and "accept no rationed goods without giving up ration stamps"

Politics and the Price Level

On inflation, institutions, and the governance of the price level.
by Andrew Yamakawa Elrod via Phenomenal World on May 19, 2022
Cover for a book of scrip for use at American Potash and Chemical’s company stores, 1937.

Greenbacks, Chits, and Scrip

Alternative currencies flourish in desperate times and situations.
by Michael Meyer via Distillations on May 3, 2022
Cover of "The Anti-Oligarchy Constitution" by Joseph Fishkin and William E. Forbath.

American Social Democracy and Its Imperial Roots

This post is part of a symposium on “The Anti-Oligarchy Constitution,” a new book by Joseph Fishkin and William E. Forbath.
by Aziz Rana via LPE Project on April 19, 2022
Painting of duel between Charles de Lameth and the Marquis de Castries.
partner

A Slap, Followed by a Duel

Dueling was a dangerous, ritualized response to a real (or perceived) slight. It may also have been a means of proving one's social and economic capital.
by Matthew Wills, Douglas W. Allen, Clyde G. Reed, Christopher G. Kingston, Robert E. Wright via JSTOR Daily on March 30, 2022
Protester in a march, holding a sign that reads "Bank on the future."

The Way We Talk About Climate Change Is Wrong

The language of “sacrifice” reveals we’re stuck in a colonial mindset.
by Priya Satia via Foreign Policy on March 11, 2022
WWII Advertisement that highlights price controls.

Price Controls, Black Markets, And Skimpflation: The WWII Battle Against Inflation

To control inflation during WWII, the U.S. government resorted to wide-ranging price controls. Unintended consequences may be the reason they aren't used today.
by Greg Rosalsky via NPR on February 8, 2022
partner

What’s Missing in the Debate About Inflation

What we think we know about stifling inflation could be wrong.
by Yong Kwon via Made By History on November 16, 2021
Black and white photo of construction workers, high up in a building, looking down over industrialized NYC.

The History of the United States as the History of Capitalism

What gets lost when we view the American past as primarily a story about capitalism? 
by Steven Hahn via The Nation on November 1, 2021

Neoliberalism Died of COVID. Long Live Neoliberalism!

How the predominant ideology of our time survived the pandemic.
by Eric Levitz via Intelligencer on October 14, 2021
Alan Krueger speaks during a press briefing at the White House.

Tragedy Kept Alan Krueger From Claiming a Nobel Prize, but He’s Not Forgotten

The economist, along with David Card, was instrumental in changing America’s mind about the minimum wage.
by Timothy Noah via The New Republic on October 14, 2021
Black and white photo of John Maynard Keynes and wife Lydia Lopokova

Left, Right and Keynes

Today's centrists are a hot mess.
by Zachary D. Carter via In The Long Run on September 23, 2021
A cowboy on a horse surrounded by grazing cows on open grassland.

A Short Political-Economic History of Property Rights in the American West

How the Tragedy of the Commons theory played out in reality.
by Mathias Bühler via Broadstreet on September 10, 2021
Picture of Richard Nixon from National Archive.

The Day That Richard Nixon Changed U.S. Economic Policy Forever

Fifty years ago, in response to rising inflation, he rejected several long-standing practices. His Keynesian turn holds lessons for today’s economy.
by Bruce Bartlett via The New Republic on July 9, 2021
Cover page of the August 1957 issue of Nation's Business, featuring a clamp tightening in on dollar signs.

Preferred Shares

Treasury Secretary Janet Yellen said America faces an economic crisis fifty years in the making. But how can we name the long crisis, much less explain it?
by Tim Barker via Phenomenal World on June 24, 2021
Photo of economist Albert Hisrchman surrounded by abstract drawings

We Don't Know, But Let's Try It

For economist Albert Hirschman, social planning meant creative experimentation rather than theoretical certainty.
by Simon Torracinta via Boston Review on June 17, 2021
Job seekers wait to be called into the Heartland Workforce Solutions office in Omaha last summer.
partner

How Cruelty Became the Point of Our Labor and Welfare Policies

Why do so many politicians think people only work if threatened or forced into doing so?
by Gail Savage via Made By History on May 26, 2021
Packages of beef cuts
partner

What Scaremongering About Inflation Gets Wrong

Inflation isn't inexorably a bad thing. In fact, it used to be considered good.
by Rebecca L. Spang via Made By History on May 25, 2021
The plough, the loom and the anvil book drawing

In the Common Interest

How a grassroots movement of farmers laid the foundation for state intervention in the economy, challenging the slaveholding South.
by Nic Johnson, Chris Hong, Robert Manduca via Boston Review on May 18, 2021

Portrait of the United States as a Developing Country

Dispelling myths of entrepreneurial exceptionalism, a sweeping new history of U.S. capitalism finds that economic gains have always been driven by the state.
by Justin H. Vassallo via Boston Review on May 1, 2021
Illustration of separated city buildings surrounding a globe embedded in the ground.

Reconstruction Finance

Popular politics and reconstructing the Reconstruction Finance Corporation.
by Nic Johnson via Phenomenal World on April 28, 2021
A man walks amongst deteriorating giant busts of U.S. presidents.

Take Me to Your Leader: The Rot of the American Ruling Class

For more than three centuries, something has been going horribly wrong at the top of our society, and we’re all suffering for it.
by Doug Henwood via Jacobin on April 21, 2021
Robert Mundell receives the Nobel Prize in economics from Swedish King Carl XVI Gustaf, in 1999.

Remembering the Father of Supply-Side Economics

Robert Mundell’s theories spawned decades of economic debate and still matter to the big ideas of today.
by Bruce Bartlett via The New Republic on April 7, 2021
GameStop store

What Would the Socialist Who Created the Hedge Fund Think of the GameStop Mess?

When Alfred Winslow Jones created the hedge fund in 1949, the key to its approach was short sales, a practice the GameStop mess returned to public infamy.
by David Huyssen via Los Angeles Times on February 12, 2021

Sea Shanties and the Whale Oil Myth

Oil companies like to point to the demise of the whaling industry as an example of market-based energy solutions. The reality is much more complicated.
by Kate Aronoff via The New Republic on January 22, 2021
Factory workers on an assembly line.

From Keynes to the Keynesians

Socialised investment and the spectre of full employment.
by Tim Barker via Verso on December 4, 2020
Milton Friedman poses with a sculpture of himself.

Colossus Wears Tweed

A number of recent books blame the rise of neoliberalism on economists. But the evidence suggests it is still capital that rules.
by Quinn Slobodian via Dissent on December 1, 2020

The World Henry Ford Made

A new history charts the global legacy of Fordist mass production, tracing its appeal to political formations on both the left and the right.
by Justin H. Vassallo via Boston Review on October 9, 2020
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