Arnold Kling is a libertarian economist who once worked for Freddie Mac. This article discusses a blog and an article he wrote about the causes of the crisis. Both (unintentionally) illustrate key theoclassical economic positions critical to understanding the origins of the crisis. Kling’s blog was in response to a January 29, 2013 post by Thomas J. Sugrue. Sugrue provided data demonstrating that blacks and Latino homeowners suffered far greater wealth losses in the crisis than did whites.
Contributors- Economic and Financial, Must Read, William Black
The Faux Hyper-Meritocracy that Threatens to Destroy Us – Bill Black
by William K. Black • • 0 Comments
I have written two prior columns about Tyler Cowen’s praise of the faux “hyper-meritocracy.” Cowen assumes that productivity determines personal wealth and is measured by wealth. He celebrates financial managers as the exemplars of this hyper-meritocracy.
Contributors- Economic and Financial, Must Read, William Black
Bank Failures are “Inconceivable” under the Latest Neoclassical Fantasy – Bill Black
by William K. Black • • 0 Comments
Bank Failures are “Inconceivable” under the Latest Neoclassical Fantasy
By William K. Black (Cross posted at Benzinga.com) Only theoclassical economics constantly recycles variants of its worst ideas that have proven disastrous when they have influenced policy. Other fields advance because they embrace the scientific method. Theoclassical economists repeat their … Continue reading →
Bank Failures are “Inconceivable” under the Latest Neoclassical Fantasy
Contributors- Economic and Financial, Must Read, William Black
The “Hyper-meritocracy” – an Oxymoron Led by Criminal Morons – Bill Black
by William K. Black • • 0 Comments
This column was prompted by William Galston’s review of Tyler Cowen’s new book Average is Over. Galston’s column worries about the huge, permanent underclass that Cowen envisions will grow in the United States.
Contributors- Economic and Financial, Must Read, William Black
Sorkin’s Paradox: Elite Bank Officers are “Worse” than “Repugnant” but Never Criminal – Bill Black
by William K. Black • • 0 Comments
This is the third installment in my Sorkin Saga. The saga was prompted by Andrew Ross Sorkin’s (ARS) video in which he “outed” himself as the leader of an undercover effort by the journalists of the New York Time’s “Dealbook” and CNBC to discover and “out” the “criminal element” among the elite bankers. Here is the key passage from his video.
Contributors- Economic and Financial, Must Read, William Black
Andrew Ross Sorkin Unmasks as Leading Occupy Wall Street’s (Three Star Restaurants) – Bill Black
by William K. Black • • 0 Comments
Andrew Ross Sorkin (ARS), long believed to be the sycophants’ sycophant who composes his odes to elite bank CEOs from his perch at the New York Times and CNBC has unmasked himself in a video entitled “Two Myths and One Reality.”
Contributors- Economic and Financial, Must Read, William Black
Why do Conservatives Oppose Prosecuting Elite Corporate Frauds? – Bill Black
by William K. Black • • 0 Comments
There are at least four principles that virtually all conservatives purport to support – except when the potential defendant is socially elite. I have written previously about two of these principles on several occasions – the need for accountability and “broken windows” theory that calls for the prosecutors to make the prosecution of even minor street crimes a high priority if they have, even indirectly, a material effect on the community.
Contributors- Economic and Financial, Must Read, William Black
The Wall Street Journal Pines for the Return of Liar’s Loans – Bill Black
by William K. Black • • 0 Comments
This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. Follow the money. Find the profits!Liquidity is money. Regardless of where in the world that money originates, eventually it flows to and through Wall Street. So if you want to know the direction of the next big…
Contributors- Economic and Financial, Must Read, William Black
My “Idiotic” Insistence on Being Fair in Criticizing Larry Summers – Bill Black
by William K. Black • • 0 Comments
This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. Follow the money. Find the profits!Liquidity is money. Regardless of where in the world that money originates, eventually it flows to and through Wall Street. So if you want to know the direction of the next big…
Contributors- Economic and Financial, Must Read, William Black
Larry Summers Got a Bad Rap on Stimulus: Obama is the Problem – Bill Black
by William K. Black • • 0 Comments
Larry Summers Got a Bad Rap on Stimulus: Obama is the Problem
By William K. Black I am a strong supporter of Janet Yellen and believe her support for the fiscal and monetary policies best designed to produce a stronger, prompter recovery from the Great Recession makes her the superior replacement for … Continue reading →
Larry Summers Got a Bad Rap on Stimulus: Obama is the Problem
