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Full-Text Articles in Macroeconomics

Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova Jun 2015

Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova

Saule T. Omarova

The recent financial crisis brought into sharp relief fundamental questions about the social function and purpose of the financial system, including its relation to the “real” economy. This Article argues that, to answer these questions, we must recapture a distinctively American view of the proper relations among state, financial market, and development. This programmatic vision – captured in what we call a “developmental finance state” – is based on three key propositions: (1) that economic and social development is not an “end-state” but a continuing national policy priority; (2) that the modalities of finance are the most potent means of …


Neoliberalism And The Law: How Historical Materialism Can Illuminate Recent Governmental And Judicial Decision Making, Justin Schwartz Jan 2013

Neoliberalism And The Law: How Historical Materialism Can Illuminate Recent Governmental And Judicial Decision Making, Justin Schwartz

Justin Schwartz

Neoliberalism can be understood as the deregulation of the economy from political control by deliberate action or inaction of the state. As such it is both constituted by the law and deeply affects it. I show how the methods of historical materialism can illuminate this phenomenon in all three branches of the the U.S. government. Considering the example the global financial crisis of 2007-08 that began with the housing bubble developing from trade in unregulated and overvalued mortgage backed securities, I show how the repeal of the Glass-Steagall Act, which established a firewall between commercial and investment banking, allowed this …


Where Should We Go From Here? Inflation, Regulation, And Debt, Warren Coats May 2010

Where Should We Go From Here? Inflation, Regulation, And Debt, Warren Coats

Warren Coats

A review of where the U.S. is and/or should be going over the next few years with regard to monetary policy, financial regulatory reform, and the debt bomb.


The Financial Crisis: Act Ii, The Way Forward, Warren Coats Mar 2009

The Financial Crisis: Act Ii, The Way Forward, Warren Coats

Warren Coats

Outlines how to restore financial discipline to the financial sector while avoiding inflation.


The U.S. Mortgage Market: The Good, The Bad, And The Ugly, Warren Coats Jun 2008

The U.S. Mortgage Market: The Good, The Bad, And The Ugly, Warren Coats

Warren Coats

An early look at the mortgage crisis in the U.S.