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Juliet Schor is Professor of Sociology at Boston College, MA, US. This is the text of her address to the INET CORE Project workshop on 11 November 2013. Forty years ago a group of engineers and scientists at MIT began warning about the impacts…
Macroeconomic models are invaluable. They enable us to reduce complicated phenomena to manageable proportions and reason systematically. If you doubt this, try thinking through the impact of a change in monetary or fiscal policy without referring in your head to some sort of model…
In part, therefore, my purpose today is to consider a piece of intellectual history: the strange amnesia of modern macroeconomics. But also to reach some conclusions about the policies needed to avoid a repeat of the 2008 crisis and to secure greater financial stability,…
