[Marxism] Gattopardo economics
mail at thomaspalley.com
Mon May 13 18:06:06 MDT 2013
Dear Friends & Colleagues,
The Reinhart-Rogoff controversy has shaken the tree of empirical policy
economics. Now, I believe it is time to shake the tree of economic theory.
Please find below a link to and abstract for a Macroeconomic Policy
Institute working paper titled:
Gattopardo economics: The crisis and the mainstream response of change that
keeps things the same <http://www.boeckler.de/pdf/p_imk_wp_112_2013>
Gattopardo constitutes change that keeps things the same. Gattopardo is
relevant for understanding the economics profession's response to the
financial crash of 2008. This paper explores gattopardo economics as it
applies to the issues of the macroeconomics of income distribution; the
global financial imbalances; and inflation policy. Gattopardo economics
adopts ideas developed by critics of mainstream economics, but it does so in
a way that ignores the thrust of the original critique and leaves mainstream
analysis unchanged. Gattopardo economics makes change more difficult because
it deceives people into thinking change has taken place. By masquerading as
change, it crowds-out space for real change. That makes exposing gattopardo
economics a matter of vital importance.
Please feel free to share this with others.
e-mail: mail at thomaspalley.com
>From Financial Crisis to Stagnation, February 2013, $18.47 at Amazon.com.
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