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Category: Neoclassical Economics

The Development Delusion: Foreign Aid and Inequality

During the last decades of the Soviet Union, technocrats in Moscow managed to prop up the failing regime by telling a story. They knew that the economy was falling apart, but they refused to admit it. Instead, they hired propagandists to convince the public that everything was still going according to plan, that the Soviet…

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Make the Left Great Again

The West is currently in the midst of an antiestablishment revolt of historic proportions. The Brexit vote in the United Kingdom, the election of Donald Trump in the United States, the rejection of Matteo Renzi’s neoliberal constitutional reform in Italy, the European Union’s unprecedented crisis of legitimation—although these interrelated phenomena differ in ideology and goals,…

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Utilitarian Economics and the Corruption of Conservatism

The Oxford English Dictionary has two definitions of the word “conservatism.” The first defines it as a “commitment to traditional values and ideas with opposition to change or innovation”; the second defines it as “the holding of political views that favor free enterprise, private ownership, and socially conservative ideas.” The former definition strikes me as…

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