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| That's Where the Real Thinking is Done |
Michael Hudson and Dirk Bezemer published a great article about a week ago on the net "Finance is Not the Economy". Well worth a read.
The article focuses on one of AA's favorite topics: how the failure to account for the financial sector means that economic analysis is incomplete and therefore incorrect. That is not to say the economics will ever be more than a best guess.
A failure on at least two fronts--impact of the financial sector on the economy and the risk of financialization of the economy.
One thing did catch my eye - lack of a reference to Rudolf Hilferding.
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