Economist criticizes "pathological allegience" to economic models

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"The crisis was born when Maggie Thatcher and then Bill Clinton deregulated the financial markets. The explosive force that was detonated was incalculable. Economics indirectly gave support because it provides models according to the motto: financial markets are never susceptible to crises. They can always operate optimally. The banks function like clockwork...

Our study group "Alternative Economic Policy" shows that such systems are prone to brutal crises - always afflicting those who had nothing to do with the crisis - and demonstrates models of coming out of this... In this situation of crisis, politics must successfully show alternatives and then make them into policy.

In the meantime, there is a gradual learninig process even in mainstream economics. Mainstream economics has been so widely criticized that people now understan d we need a new theory that gives special emphasis to a much clearer policy.

to read the interview with Rudolf Hickel published on dradio 4/13/2012, click on

http://portland.indymedia.org/en/2012/05/415740.shtml

demandside's picture
demandside
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Jul. 31, 2007 4:01 pm

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Did someone say banks ?

The American Dream Film-Full Length

https://www.youtube.com/watch?v=tGk5ioEXlIM

The Money Masters.

http://video.google.com/videoplay?docid=-515319560256183936&q=The+money+changers&ei=Zd4QSMjvB47YqAKQtJmzBA

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antikakistocrat
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Climate deniers are running out of excuses...

One-by-one, the excuses for failing to act on climate change are disappearing.

Earlier this month, China proved that it's possible to quickly and dramatically reduce carbon emissions. According to an analysis by Greenpeace, our planet's largest greenhouse gas emitter reduced coal use by about 8 percent in a single year.

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