Attention Economy


Monday, February 28, 2022

Critiques of Mainstream Economics

David Dayen offers an interesting left-wing critique of mainstream economics:
https://www.nytimes.com/2022/02/28/opinion/larry-summers-inflation.html
The shocks will only continue until we reverse course on this prevailing consensus. Democrats put their faith in an economics profession that is far too distant from on-the-ground realities to grasp the consequences of globalization, monopolization, financialization, deregulation, and just-in-time logistics. They failed to recognize how things could crumble because of the vulnerability they engineered.
 

My take: Fed's role in the current inflation episode should not be ignored

My take: We should pursue pro-market rather than pro-business policies
To make capitalism more attractive, policymakers must emphasize pro-market (not pro-business) policies
https://thehill.com/opinion/finance/513956-to-make-capitalism-more-attractive-policymakers-must-emphasize-pro-market-not

My take: We should also focus on the quality of the government rather than its size
The debate should be about the quality – not the size – of government
https://thehill.com/opinion/finance/513007-the-debate-should-be-about-the-quality-not-size-of-government 

My take: Technological changes often drive globalization trends in the long run

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