A time for NEW ECONOMICS
 

One Julie Matthaei calls for broadening the input of modern economic ideas.

She also points out the red baiting of certain economists by the Restaurant money group. :(

I guess the hollowing out of the middle, and the massive transfer to the very small top provide some basis for her call.

http://america.aljazeera.com/opinion...s-at-hand.html

I agree at least in broad outline with Matthaei's criticisms of orthodox economics. The business disciplines in general contain implicit value assumptions that tend to blind them to both questions of social justice, and even to problems of corrupt management.

Still with all the soothsayers there is very little trickling down. There is need for the projecting in academia good public policy and social contract to adjust for
negatives such as out sourcing and subcontracting.

If you mean 'practical and positive' policy proposals are needed from critics like Matthaei, yes indeed, they are. But that of course is the hard part. Though we can certainly start with the calls of people like Krugman for more progressive taxation and vigorous financial sector regulation, public investment to support consumption and restore infrastructure, and electoral reform to limit the weight of corporate financial power. Matthaei may well have further structural reforms in mind, though.

As long as cheap labor is prioritized, a vibrant middle class based economy isn't likely to return as it was

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There is now a systematic attempt by money groups to limit the spread of such voices.

The masters allow such talk knowing full well that the people will nod in agreement and do absolutely nothing.