May

14

I highly recommend the book Against the Stream: Critical Essays on Economics by Gunnar Myrdal.

Almost all of it is intellectually reprehensible, but the frankness of the views and the plain speak with which a nobel laureate holds forth (and he is amazingly funny) is worth investing some time in.


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  1. matt on May 14, 2011 8:03 pm

    Myrdal advocated increased govt spending and work programs to counteract the depression in Sweden in the 30s- I would have unemployment benefits tied to participation in work programs today–but ideology would prevent that from ever happening… Although not involving Myrdal directly, it is interesting to contrast the policy response of Sweden to its banking crisis vs the response of “capitalists” like Mr Bernanke, Paulson, Geithner, etc. I would argue that the Swedish model (wiping out bond and equity holders, while temporarily backstoping actual deposits) is much more of a free-market solution coming from what is widely considered a semi-socialist country…maybe Friedmanite monetarists like Bernanke are capitalism’s real enemies…Sweden recovered, Iceland is recovering, Japan- after 20 years of intervention—not so much

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