Neo-classical microeconomic theory, especially in its more recent fundamentalist manifestations, has done immense damage to the real economy while nurturing the parasitic financial sector, as recounted from time to time elsewhere on this site.
Various alternative approaches have identified and addressed problems created by that theory. Welfare economics, the economics of social balance, and what [...]

The economic mainstream has flowed on its capital oriented way with relatively little deviation despite its manifest limitations, errors, omissions and downright falsehoods. And despite the occasional disasters to which it gives rise.
In the middle of last century, J M Keynes corrected some of the more apparent errors of the classical model, but his [...]

In a recent article in The New York Review of Books, Michael Tomasky suggested the lack of any alternative big theme gave the free marketeers a head start in shaping and continuing to dominate the United States economy. The free market big theme may have been planted by Adam Smith, but it developed on the [...]

The takeover of British confectioner Cadbury, with its long and honourable history in British industry, from its Quaker origins to its death throes earlier this year, has been featured as the main topic of two posts on this site, and mentioned in passing on five others. It is a compulsive story which celebrates the satisfaction [...]

A recent article in The Economist pointed out that Britain, the original industrialiser for long in relative economic decline, owned 45% of the world’s foreign direct investment in 1914, but now has substantially less than 10%. The United States’ foreign direct investment peaked at around 50% in 1967 and is now less than half that. [...]