by Jingjing Wang
In The Concept of Equilibrium in Different Economic Traditions by Bert Tieben offers a full-length, extensive study of the concept of equilibrium that chronicles its four-century evolution from the prehistory of classical economics to the heyday of neoclassical economics and contemporary heterodox economics. The book, a daunting exploration of mountains of literature that runs in nearly seven hundred pages, is based on Tieben's 2009 dissertation at the Vrije Universiteit of Amsterdam. Although there are few advanced mathematical equations that might baffle the reader, the book is not easy to read and presupposes a detailed knowledge of economic theory.
by William K. Black, New Economic Perspectives
In December 2013 NPR interviewed me about one the great disgraces of the Obama administration - its refusal to prosecute either the officers or HSBC for laundering roughly $1 billion over the course of the decade for Mexico's Sinaloa drug cartel. The NPR story doesn't name the cartel or inform the listener that it is one of the world's most violent drug cartels, or that HSBC also routinely violated the money laundering laws on transactions involving tens of trillions of dollars, and covered up its numerous violations of U.S. sanctions on Iran and Burma.
It may seem unusual that an economist would talk about culture. Usually, we talk about prices and production, quantities produced, employment, the structure of production, scarce resources, and entrepreneurship.
by Wim Grommen
Every production phase or civilization or other human invention goes through a so called transformation process. Transitions are social transformation processes that cover at least one generation (= 25 years). In this article I will use one such transition to demonstrate the position of our present civilization and its possible effect on stock exchange rates.
Written by Frank Li
Here is the latest news on immigration: Obama signs executive orders delaying deportations for millions of illegal immigrants. Is it a big deal? Yes!