No ‘Hard Landing’ for Chinese Economy

No “hard landing” for Chinese economy In the development economics there is a popular term of “hard landing”. It is contrasted with the “soft landing” defined as descending gradually and softly from high output growth levels, especially when the growth is related to an overheated economy. Hard landing means facing different realities as a result […]

The Warning Forecasts or Market Manipulations?

What are the warning forecast about? Who cautions who against what and how? Well, if we properly identify the underlying mechanisms of a given process, we conjecture that a continued existence of objectively occurring tendencies must lead to undesirable results. So we want to avoid them and we draw up a warning forecast whereby if […]

Catching-up in the emancipating economies: How fast? How far?

Looking at things from the perspective of development economics and political economy of the future, I suggest we talk of “emancipating” economies. It’s a huge difference compared to “emerging” markets, as this time they are treated like subjects rather than objects. While in the case of  “emerging markets” society is something less significant, a part […]

Think Thanks. The Good and the Bad Ones

When learned economists err in what they say and write, we can continue the discussion on substantive grounds. However, we have a major problem when they know how the facts stand but nevertheless publicly say and write something different because it serves certain ideas shared by narrow elites, or because they are paid by interest […]

Honest Economics

Can you be wrong a thousand times? You can, if your reasoning is based on media concoctions, wherein some events receive excessive and biased coverage and other, less sensational events are ignored, according to the whims of advertising contracts. What sells is the information “commodity” supposedly expected by the undiscerning public: sensations interlaced with commercials. […]

Imperative of Heterodoxy

Gone forever are the days when sitting in his office, a great scholar could create a new theory, which revolutionize thinking about economy. It was possible in the eighteenth and nineteenth century, maybe for the last time in the twentieth century, in the time of Keynes, but it is no longer viable in the twenty-first […]

The New Pragmatism and the Future of World Economy

The confrontation of two views of modern capitalism – neoliberal capitalism and state capitalism – will determine the social market economy that forms the New Pragmatism in the future. Even the International Monetary Fund, for many years the hub of economic orthodoxy, admits that policy should be focused on increasing tax revenue, rather than on cutting […]

Milk and Rum, or Economic Reforms the Cuban Way

I don’t pretend to claim that as far as the almost 200 countries in this volatile world are concerned, all of them are very different, since in certain respects many are indeed similar to each other. But Cuba is different. It’s in a class by itself. Cuba is Latino and Caribbean, Afro-American and tropical, and […]