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  • Monthly Review Essays
  • Flickr obamacare | Sebastian Vital | Flickr

    Obamacare with a public option: fool me twice shame on me

    Originally published: Thomas Palley Blog on March 3, 2020 (more by Thomas Palley Blog)

    There is an old saying “Fool me once shame on you, fool me twice shame on me.” That saying is relevant for the current healthcare debate in which former Vice-President Biden and elite Democrats are touting a reheated version of Obamacare with a public option. It is a case of trying to fool the American public twice.

  • www.thebalance.com

    A Stock Market boom is not the basis of shared prosperity

    Originally published: Thomas Palley Blog on January 22, 2020 (more by Thomas Palley Blog)

    The U.S. is currently enjoying another stock market boom which, if history is any guide, also stands to end in a bust. In the meantime, the boom is having a politically toxic effect by lending support to Donald Trump and obscuring the case for reversing the neoliberal economic paradigm.

  • Brazil is falling under an evil political spell

    Originally published: Thomas Palley - Economics for Democratic and Open Societies on October 12th, 2018 (more by Thomas Palley - Economics for Democratic and Open Societies)

    Bolsonaro—an open advocate of racism, sexism, torture, and police execution squads—represents the resurrection of the fascist political tradition. That tradition discards norms of decency, tolerance, compromise and due process whenever they obstruct taking power.

  • A Liberal Party poster encouraging Free Trade over Protectionism in London (c1905-c1910)

    Three globalizations, not two

    Originally published: FMM Working Paper on June 30, 2018 (more by FMM Working Paper)

    The conventional wisdom is there have been two globalizations in the modern era. This paper challenges that view and argues there have been three globalizations, not two.

  • Globalization checkmated? Political and geopolitical contradictions coming home to roost

    Originally published: Political Economy Research Institute on July 24, 2018 (more by Political Economy Research Institute)  |

    The deepening of economic globalization appears to have ground to a halt and the process may even unravel a little. The sudden stop has surprised economists, whose belief in globalization has strong parallels with Fukuyama’s (1989) flawed end of history hypothesis.

  • Explaining Stagnation: Why It Matters

    Thomas I. Palley

    Larry Summers and Paul Krugman have recently identified the phenomenon of stagnation.  Given that they are giants in today’s economic policy conversation, their views have naturally received enormous attention.  That attention is very welcome because the issue is so important.  However, there is also a danger that their dominance risks crowding out other explanations of […]

Also By Thomas I. Palley in Monthly Review Magazine

  • The Limits of Minsky’s Financial Instability Hypothesis as an Explanation of the Crisis April 01, 2010

Monthly Review Essays

  • Ruy Mauro Marini’s Contribution to the Political Economy of Imperialism
    Torkil Lauesen

    In “The Dialectics of Dependency,” Ruy Mauro Marini developed a theory of dependency and unequal exchange that is still invaluable today.

Lost & Found

  • Militarism and the Coming Wars
    István Mészáros What Did You Learn from Iraq?

    The dangers and immense suffering caused by all attempts at solving deep-seated social problems by militaristic interventions, on any scale, are obvious enough. If, however, we look more closely at the historical trend of militaristic adventures, it becomes frighteningly clear that they show an ever greater intensification and an ever-increasing scale, from local confrontations to […]

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