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Artwork featuring a backhoe at a residence, a burning hundred dollar bill, and a padlocked storefront.

The Kingdom of Private Equity

The 2007–2008 crisis was an epic clusterfuck. The rise of private equity has only made things worse.
by George Scialabba via The Baffler on July 11, 2023
Adam Smith (left), George Stigler (center), Milton Friedman (right), Hyde Park streetscape in the background.

The Localist

Why did Chicago become the headquarters of free market fundamentalism? Adam Smith offers a clue.
by Jonathan Levy via Boston Review on June 28, 2023
1916 advertisement for De Angelis Brand Superior Quality Macaroni Products.

When Socialists Put an End to Pasta Inflation

The history of food inflation during World War I, and the riots that halted it, show how capitalists take advantage of consumer expectations to price gouge.
by Brian Callaci via Jacobin on June 11, 2023
Painting of Thomas Cooper.

Thomas Cooper: Harbinger of Proslavery Thought and the Coming Civil War

To understand the proslavery defense of the 1850s, one must reckon with the proslavery Malthusianism articulated by Cooper in the 1820s.
by K. Howell Keiser Jr via Emerging Civil War on May 30, 2023
Shredded "Don't Tread On Me" flag.

The Long Afterlife of Libertarianism

As a movement, it has imploded. As a credo, it’s here to stay.
by Benjamin Wallace-Wells via The New Yorker on May 29, 2023
American flag sign that reads "NWRO," "I support a guaranteed adequate income for all Americans"

Escape from the Market

Far from spelling the end of anti-market politics, basic income proposals are one place where it can and has flourished.
by Simon Torracinta via Boston Review on May 19, 2023
Milton Friedman (L) and James Tobin (R)

The Forgotten Case Against Milton Friedman

In 1967, Milton Friedman launched a counterrevolution in economics that overturned the Keynesian theory of inflation.
by Seth Ackerman, Thomas Palley via Jacobin on May 13, 2023
The North American Trust Company building in Havana, Cuba.

The Imperial Fed

Colonial currencies and the pan-American origins of the dollar system.
by Nic Johnson via Phenomenal World on March 30, 2023

At the Altar of the Fed

Celebrating the Federal Reserve as a cockpit for economic steering conceals the reality of where power lies today.
by Andrew Yamakawa Elrod via The Baffler on March 1, 2023
A shattered painting of Adam Smith.

The Betrayal of Adam Smith

How conservatives made him their icon and distorted his ideas.
by Kim Phillips-Fein via The New Republic on February 27, 2023
Stone hands holding up a bronze globe.

The Meddlers: Sovereignty, Empire and the Birth of Global Economic Governance

A new history explores the emergence of international economic institutions that continue to wield immense influence over the domestic politics of many states.
by Kevin P. Gallagher via LSE Review Of Books on February 22, 2023
Image from cover of "Reconsidering Reparations"

Reconsidering Reparations

Reparations must be rooted in a political context that will safeguard rather than erode the gains they make towards justice.
by Olúfẹ́mi O. Táíwò via LPE Project on February 21, 2023
Luigi Einauldi, present of Italy in 1948, seated at his desk

The Dawn of Austerity

An interview with the author of "The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism."
by Nick Serpe, Clara Mattei via Dissent on February 17, 2023
Helen Hall (R, front), chair of the Consumers’ National Federation, with a committee at the White House making demands for a "new deal" for consumers, 1938.

“Ethical Consumption” Used to Mean Something More Than Feeling Smug About Your Purchases

A century ago, it was once motivated by the goal of economic reorganization.
by Nick French via Jacobin on January 31, 2023
Oxford University.

Elite Universities Gave Us Effective Altruism, the Dumbest Idea of the Century

The result has been reactionary, often racist intellectual defenses of inequality.
by Linsey McGoey via Jacobin on January 19, 2023
Former Federal Reserve Chairman Paul Volcker in front of a red arrow made of money pointing upwards.

The Messy True Story of the Last Time We Beat Inflation

The usual narrative about the "Volcker shock" leaves a lot out — and policymakers risk learning the wrong lessons.
by Alex Yablon via Vox on November 2, 2022
Image of Jerome Powell speaking at a conference.

Vectors of Inflation

Inflation hawks and inflation doves alike have learned the wrong lessons from the monetary policies of Paul Volcker and Alan Greenspan.
by Radhika Desai via New Left Review on October 6, 2022
"Thinking like an Economist" light blue book cover

The ‘Economic Style’ as Red Scare Legacy

The rise of the “economic style of reasoning” in the 1960s cannot be properly understood without attending to the political fallout of earlier decades.
by Landon Storrs via LPE Project on September 13, 2022
Illustration of a man hunched over a computer at work and another leaning back relaxing; the two drawings are positioned so that it looks like the relaxing man is leaning on the working man.

Why Isn’t Everybody Rich Yet?

The twentieth century promised prosperity and leisure for all. What went wrong?
by Timothy Noah via The New Republic on September 12, 2022
Ronald Reagan pointing at a graph explaining his tax policy.
partner

Inflation Opened the Door to American Neoliberalism

An excerpt from "The Hidden History of Neoliberalism."
by Thom Hartmann via HNN on September 11, 2022
The image displays two duplicate portraits of Adam Smith. One is upside down.

The Mysteries of Adam Smith

How to understand Adam Smith’s politics.
by Glory M. Liu via The Nation on September 3, 2022
Photo of Ronald Reagan and Bill Clinton laughing together.

Will Neoliberalism Ever End?

A new history shows how neoliberalism took power during a period of crisis, which leaves open the question of whether it can be forced out as a result of one.
by Steven Hahn via The Nation on August 22, 2022
Robert F. Kennedy on the presidential campaign trail in 1968.

Beyond GDP: Changing How We Measure Progress is Key to Tackling a World in Crisis

Amid the global threats posed by climate change, energy costs, unemployment and inequality, the need to rethink progress is now an urgent priority.
by Paul Allin, Diane Coyle, Tim Jackson via The Conversation on August 18, 2022
FDR signing a bill into law.

On Economics And Democracy

High unemployment is extremely dangerous.
by Zachary D. Carter via In The Long Run on July 29, 2022
Drawing of a crowd of delegates at the 1972 Democratic National Convention. (Franklin McMahon / Getty Images)

A Big Tent

The contradictory past and uncertain future of the Democratic Party.
by Nicholas Lemann via The Nation on July 11, 2022
Booker T. Washington addressing a laughing crowd of African American men in Lakeland, Tennessee, during his campaign promoting African American education. Ca. 1900.

Market Solutions to Ancient Sins

Freedom and prosperity are the most effective cure for the scars of slavery and racism.
by Jason Jewell via Law & Liberty on June 28, 2022
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
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