Browsing articles tagged with " gerald epstein"
Jul 13, 2016
boyce
Comments Off on Wasted: The high cost of laissez-screw finance

Wasted: The high cost of laissez-screw finance

What has the flawed financial system cost the U.S. economy? Here’s your receipt:

Overcharged-Promo-Graphic-1

Read the accounting by Econ4’s Jerry Epstein together with Juan Montecino here. Excerpt follows:

A healthy financial system is one that channels finance to productive investment, helps families save for and finance big expenses such as higher education and retirement, provides products such as insurance to help reduce risk, creates sufficient amounts of useful liquidity, runs an efficient payments mechanism, and generates financial innovations to do all these useful things more cheaply and effectively. All of these functions are crucial to a stable and productive market economy. But after decades of deregulation, the current U.S. financial system has evolved into a highly speculative system that has failed rather spectacularly at performing these critical tasks.

What has this flawed financial system cost the U.S. economy? How much have American families, taxpayers, and businesses been “overcharged” as a result of these questionable financial activities? In this report, we estimate these costs by analyzing three components: (1) rents, or excess profits; (2) misallocation costs, or the price of diverting resources away from non-financial activities; and (3) crisis costs, meaning the cost of the 2008 financial crisis.

 

Dec 20, 2012
boyce
Comments Off on Race to the bottom

Race to the bottom

Econ4’s Jerry Epstein breaks downs the fallacy of ‘tax incentives’ as a lure to investment:

Source: The Real News Network.

Read the New York Times story on corporate tax giveaways here.

Dec 14, 2011
boyce
Comments Off on Econ4 in Chronicle of Higher Ed

Econ4 in Chronicle of Higher Ed

Recently critics have mounted a more fundamental line of attack on mainstream economists, taking aim at the ideology that has grown dominant over the past 30 years, which they say played a significant part in causing the Great Recession and not doing much to help solve it.

Read the entire piece here.