Analysis

Jim Chanos: “The Crypto Ecosystem Is Well-Suited for the Dark Side of Finance.”

The famed short-seller talks Sam Bankman-Fried, why Wall Street is still so keen on crypto, and how technology is making us dumber.
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Theories of Economic Crises

The theoretical approaches to analyzing crises have behind them contrasting conceptions of the way the economy works
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After Poland’s Elections: Democracy and Keynesianism?

In accepting mass unemployment, post-communist governments and the democratic parties that constituted them removed the economic foundation for Poland’s democracy.
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In the Footsteps of Ptolemy: The ‘Science of Monetary Policy’ and the Inflation of 2021-2023

The impenetrability of this continuously expanding Ptolemaic New Keynesian paradigm is maddening
Introduction
The recent increase in inflation took monetary policy makers by surprise, at least if we credit the Summary of Economic Projections (SEP) of the Federal Open Market Committee (FOMC) of the Federal Reserve (Figure 1). The FOMC did not anticipate the surge in the core PCE inflation that started in 2021 and it consistently projected the inflation rate to rapidly decline rapidly to its 2 percent target rate.

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