Technology vs globalisation as cause of the declining labour share

FT Alphaville reseña el debate

Capitalism redefined

Aca

"This is why prosperity in human societies can’t be properly understood by just looking at monetary measures of income or wealth. Prosperity in a society is the accumulation of solutions to human problems."

"If the true measure of the prosperity of a society is the availability of solutions to human problems, then growth cannot simply be measured by changes in GDP. Rather, growth must be a measure of the rate at which new solutions to human problems become available."

Glorious Revolutions and their discontents

The Economist reseña un libro que pone en dudalas tesis de North, Weingast, Acemoglu y Robinson

Sobre la posibilidad de que haya un 'estancamiento secular'

Paul Krugman comenta el discurso de Larry Summers. Yves Smith le comenta a Krugman. Y Tyler Cowen

Ryan Avent también. Brad DeLong le comenta a Avent

Y Miles Kimball.

Y FT Alphaville.

Y Gavyn Davies.

Y Brad DeLong

Una crítica a todos los argumentos 'mainstream'

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Lo que Krugman había dicho antes: Bubbles, regulation and secular stagnation

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Olivier Blanchard: Monetary policy will never be the same again

Paul Krugman: Monetary and fiscal implications of secular stagnation

Martin Wolf: Why the future looks sluggish

Antonio Fatás: Saving glut or investment dearth?

Randall Wray

Is modern finance the source of secular stagnation?

JW Mason: Secular stagnation, progress in economics

Simon Wren-Lewis

Resumen del debate en Bruegel

De Pieria: 'Secular stagnation and post-scarcity' y 'The desert of plenty'

Columna de Brad DeLong: The long short run

Brad DeLong sobre James Pethokoukis

Brad DeLong: Is growth getting harder? If so, why, and what can we do about it? Tyler Cowen opina

Paul Krugman le echa números al debate

JW Mason: 'The interest rate and the interest rate' y 'The interest rate, the interest rate, and secular stagnation'

Ryan Avent duda de que de verdad estemos en estancamiento secular, excepto, si acaso, Alemania

Secular stagnation: Back to Alvin Hansen

Columna de Larry Summers. Brad DeLong comenta. Buttonwood opina tambien

The Economist: Why is stagnation bubbly?

The future of the european periphery in the mirror of the Asian-Pacific Rim 1997-98

Brad DeLong comenta paper de Carmen Reinhart y Takeshi Tashiro

"Our old belief that you have a trend, and you calculate the trend; that you have a cycle, and you argue over whether the cycle is falls below the trend or fluctuations around it; but that you can carry this discussion along two separate and largely-disconnected tracks--that belief looks to be simply wrong."

What will the 'new normal' for America be?

Excelente análisis de Brad DeLong

La reducción de las ganancias del trabajo

The Economist. Más de The Economist

India in trouble?

Bruegel

Is technological progress a thing of the past?

Joel Mokyr

Rebalancing and long term growth (in China)

Michael Pettis analiza las perspectivas de China

What was the Great Divergence?

The Economist

Entrevista al autor de 'How Asia works'

Parte I. Parte II

Sobre la desaceleración de las economías emergentes

The Economist aca y aca. Un resumen

Sen vs Bhagwati y Panagariya sobre India

Resumen del debate

Artículo de Partha Dasgupta

Sobre el cambio en la medición del PIB en EEUU para incluir I & D como inversión

Businessweek: The rise of the intangible economy

Profits without investment in the recovery

Bruegel

Is technological progrerss accelerating?

Debate en The Economist

Brad DeLong sobre los motores de crecimiento del futuro

Aca

"Social science having to do with the economy is about trying to track the emergent property that arise from the fact that we as a world have decided to organize our extraordinarily productive and diverse 7.3-billion human global division of labour largely through decentralized market exchange, mediated by firms that are islands of hierarchy and bureaucracy swimming in a larger market-oriented albeit government-regulated sea.

It is clear to everyone who tries to do this seriously that figuring out what the emergent properties of this complicated decentralized systems are hinges on the details of the institutions: productive, organizational, and regulatory details matter and matter a lot. There is a very narrow limit to what you can do that is useful by following in the hyper-abstract footprints of David Ricardo. To say anything real, you have to say what’s going on in the industry.

All of you here are the people who understand what the institutional, organizational and regulatory details are, and thus have a chance of accurately determining what the interesting emergent properties are. You are the useful point of the spear. Too many of your colleagues in the social sciences are performing the equivalents of medieval scholastic theology precisely because they lack institutional knowledge of the details. Thus they write about the emergent properties of some other system, but not those of this system that we have here and now."

Productivity, reindustrialization and the US profit share

FT Alphaville

Nuevo cálculo de PIB de EEUU

Aca