Tuesday, March 1, 2016

Ron Baiman — On the Neglect of Class in Neoclassical Macroeconomics

A lack of awareness of the importance of changes in class structure (via income distribution) is another important distinction between mainstream Neoclassical (NC) Keynesian macroeconomics and the Keynesian-Kaldor PK macroeconomic tradition that Friedman is working out of. Left PK heterodox economists incorporate class analysis as a fundamental driver of macroeconomic outcomes, whereas it is largely absent in mainstream NC macroeconomics as a fundamental driver of economic growth.…
The D & S Blog
On the Neglect of Class in Neoclassical Macroeconomics
Ron Baiman, Chicago Political Economy Group


Random said...

Heads up.


"That strategy is beginning to take shape, with groups that support Mrs. Clinton preparing to script and test ads that would portray Mr. Trump as a misogynist and an enemy to the working class whose brash temper would put the nation and the world in grave danger. "

Tom Hickey said...

If HRC gets the nomination, and that is looking increasingly likely based on superdelegates, she is likely to prevail if Trump gets the nomination because the GOP will spit its vote, first to present an anti-Establishment GOP candidate from hijacking the party, but also because they feel comfortable with Clinton as foreign policy hawk, Wall Street friendly, and GOP-lite domestically.

Calgacus said...

Superdelegates don't mean much, except if people believe they do and stay at home. It's the pledged delegates that count.

Bernie Sanders Still Has a Path to Victory. Here It Is. is a good article that will be updated. We'll know better after today. Sure, Clinton is more probable, but it ain't over. After all, a lot of people don't like her, quite rationally: see Linwood Tauheed's recent NEP article. Problem is that her base of support is precisely the people she has a record of mistreating most, who don't get to see articles like that one.