Taking notes 41: Ideological foundations of neoclassical economics: class interests as “economic theory”

by Ismael Hossein-zadeh There is now a widespread consensus that mainstream/neoclassical economists failed miserably to either predict the coming of the 2008 financial implosion, or provide a reasonable explanation when it actually arrived. Not surprisingly, many critics have argued that … Continue reading Taking notes 41: Ideological foundations of neoclassical economics: class interests as “economic theory”

The difference Democracy does (and does not) make to peoples’ lives

by Jeff Noonan With unnoticed irony, Roger Cohen, writing in The New York Times on Bastille Day, July 14th, 2013, lamented the weeks of protest in Egypt that culminated in the army’s removal of the government of Mohammed Morsi.  Cohen argued that since the street protests overturned the results of a free election, they were undemocratic, even though massively popular.  “When is a coup not a coup?  It seems when tens of millions of Egyptians support it and choose to portray it as part of a continuing revolution that was betrayed by the ousted President, Mohammed Morsi, of the Muslim … Continue reading The difference Democracy does (and does not) make to peoples’ lives