Universal Basic Income and the Cost Objection: What are we Waiting For?

Richard Pereira

Among the most common objections to providing everyone with an unconditional basic income is the cost objection. It states that the cost of providing everyone with a decent income floor,…
More ›

The Price Cannot be Right: Taxation, Sub-Intrinsic-Value Housing Bubbles, and Financial Instability

Gavin R. Putland

…parameters, on the hypothesis that prices reflect net present values (NPVs) of future cash flows. Special cases are noted and interpreted. The formula explains the counterintuitive observation that a stamp…
More ›

Setting a Principal to Interest Cap on the Issuance of Home Mortgages: a Proposed Change to Mortgage Underwriting Rules Designed to Control Housing Price Inflation

Timothy A. Wunder

Traditionally most home buyers in the US need a mortgage and the current system of mortgage origination creates an incentive for borrowers to offer bids on homes far higher than…
More ›

Transacting Without Pricing, Pricing Without Transacting

Jacques-Olivier Charron

…on the grounds that valuing financial assets is a matter of judgment. Financial assets do not have any intrinsic utility; hence allowing markets to price them implies their price changes…
More ›

Climate Change, Procrastination and Asymmetric Power

Korkut Alp Ertürk, Jason Whittle

…prisoner’s dilemma model, the paper illustrates how developed countries’ power to externalize their emissions to the global commons skews their cost-benefit calculation in favor of putting off mitigation efforts into…
More ›

Again on Piketty’s Capital in the Twenty-First Century or Why National Accounts and Three Simple Laws Should not be a Substitute for Economic Theory

Christian Flamant

…made by Piketty between “capital” and “wealth” which for him cover the same economic reality, and shows that productive capital, real estate capital and net financial assets cannot be put…
More ›

Does Saving Increase the Supply of Credit? A Critique of Loanable Funds Theory

Fabian Lindner

…net financial assets) through a reduction in expenditures reduces other economic units’ revenues and thus their ability to spend and save. Using the concept of excess demand and supply, it…
More ›

Pension Liabilities: Fear Tactics and Serious Policy

David Rosnick, Dean Baker

…paper applies a funding rule projects returns based on current price to earnings ratios in the stock market. It runs a number of simulations based on the pattern of stock…
More ›

Deconstructing the Theory of Comparative Advantage

Reinhard Schumacher

…production advantages into absolute price advantages, full employment and the perception of international trade as a static and harmonious phenomenon. It is shown that all these assumptions are neither theoretical…
More ›

Worldwide Fiscal Crisis: Fact or Fiction?

John T. Harvey

…then the unemployment rates of 25% in Greece, 23% in Spain, 13% in Portugal, and 10% in Ireland are simply the short-run price paid for a stronger future. If they…
More ›

Submissions

…should be given at the end of the articles in the following style with hyperlinks wherever useful and possible. For a review of the Harvard system, see: http://www.library.dmu.ac.uk/Images/Selfstudy/Harvard.pdf or http://www.cse.dmu.ac.uk/~bstahl/HarvardStyle.htm…
More ›

Editors

…Latin America and the Caribbean: esteban.perez@eclac.org Rex McKenzie, UK, Kingston University R.Mckenzie@kingston.ac.uk Devrim Sakir Yilmaz, UK, Kingston University S.Yilmaz@kingston.ac.uk   Board of Editors Dean Baker, USA, Center for Economic and…
More ›