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

Gavin R. Putland

…more than the value of the subsidy. But for some combinations of inputs, the formula predicts prices that clearly exceed buyers’ capacity to service loans. If the financial system tries…
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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

…would be possible without that system. This has inflated home values, increased financial indebtedness, and has increased banking profits without extensively helping other players in the market. Over the past…
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Weak Expansions: A Distinctive Feature of the Business Cycle in Latin America and the Caribbean

Esteban Pérez Caldentey, Daniel Titelman, Pablo Carvallo

Using two standard cycle methodologies (Classical and Deviation Cycle) and a comprehensive sample of 83 countries worldwide, including all developing regions, we show that the Latin American and Caribbean (LAC)…
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Grass Roots War on Poverty

Alice H Amsden

…statistical evidence for a large number of developing countries strongly supports the hypothesis of a trickle down effect, not a bottom up effect as the best way to beat poverty….
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Rethinking Economics: Downs with Traction

Stuart Birks

…literature, including writing by Adam Smith on rhetoric (deliberative eloquence) in political debate, and the significance of propaganda was recognised in the 1940s. Modern approaches to political processes, agenda setting,…
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Worldwide Fiscal Crisis: Fact or Fiction?

John T. Harvey

…be forced into bankruptcy. Not only is this patently false, he says, but there was a day not too long ago when this was common knowledge in the economics discipline….
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A Neoclassical Curmudgeon Looks at Heterodox Criticisms of Microeconomics

Donald W. Katzner

…of neoclassical microeconomics are valid to a neoclassicist; but some are not. Examples of both are given, mostly taken from E. Fullbrook’s anthology, A Guide to What’s Wrong with Economics,…
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Revisiting Arab Socialism

Ali Kadri

…for transfer abroad. This essay traces the metamorphosis of the state bourgeois class in Arab socialist countries, namely Egypt, Iraq and Syria, into the neoliberal/comprador class. With the exception of…
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Macro Policies For Climate Change: Free Market Or State Intervention?

Pablo Ruiz Nápoles

The central issue studied in this essay is the meaning and implications for public policy of Nicholas Stern’s statement that “Climate change is the greatest and widest-ranging market failure ever…
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Submissions

…links they may have with the industry/companies/institutions they are writing about or declare that there are none. Failure to disclose any material conflict of interest may result in temporary or…
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Editors

Email: wereditor@worldeconomicsassociation.org Jayati Ghosh, India, Jawaharlal Nehru University: jayatijnu@gmail.com John Weeks, UK, University of London: johnweeks@jweeks.org Susan Feiner, USA, University of Southern Maine: sffein@usm.maine.edu Esteban Perez Caldentey, Chile, Economic Commission for…
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Call for Papers: Tax Havens

…tax havens, and companies are increasingly shifting profits through Bermuda, Luxembourg, the Cayman Islands and other such offshore jurisdictions. The best guesses suggest that there are approximately 60 secrecy jurisdictions,…
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Call for Papers: The Political Economy of University, INC.

…initiatives that support this resistance; Classroom/pedagogical strategies for helping students understand what’s at stake; Curricular materials exposing the corporate pressure to vocationalize and de-intellectualize the university; Labour organizing as tool…
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