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Painting of soldiers on the front.

How They Paid for the War

In World War II, the US had a planned economy. Its principles were similar to MMT.
by Sam Levey via Strange Matters on January 27, 2023
Bill Clinton presenting the V-chip, 1996.

Cold Controls

“National security” and the history of US export controls.
by Ella Coon via Phenomenal World on January 18, 2023
The cover of "Sectionalism and American Political Development: 1880-1980"

Sectional Industrialization

Political scientist Richard Bensel explains the feedback loops between policy commitments of political elites and the regional distribution of political power.
by Justin H. Vassallo, Richard Franklin Bensel via Phenomenal World on January 7, 2023
1877 political cartoon of a skeleton descending on a railroad, reading "the rioters' railroad to ruin."

Strikers, Octopi, and Visible Hands: The Railroad and American Capitalism

The railroad company remains a site for Americans to grapple with key questions about the nature of American capitalism.
by Scott Huffard via Clio and the Contemporary on December 20, 2022
Donald Trump supporters storm the US Capitol on January 6, 2021.

The Failure of Reconstruction Is to Blame for the Weakness of American Democracy

A new book argues that the American right emerged out of a backlash to multiracial democracy following the Civil War.
by Matthew E. Stanley via Jacobin on December 8, 2022
Photograph of protesters and text from a 1944 edition of "Are You An American?"

The Failure of a Public Philosophy

How Americans lost faith in the possibility of self-government.
by Win McCormack via The New Republic on November 23, 2022
Former Federal Reserve Chairman Paul Volcker in front of a red arrow made of money pointing upwards.

The Messy True Story of the Last Time We Beat Inflation

The usual narrative about the "Volcker shock" leaves a lot out — and policymakers risk learning the wrong lessons.
by Alex Yablon via Vox on November 2, 2022
Illustration of Economists in Different Positions in the Government

May God Save Us From Economists

Over the last half-century, economics has infiltrated parts of the federal government where it has no business intruding.
by Timothy Noah via The New Republic on October 25, 2022
Federal Reserve Note featuring Salmon Chase held by the National Numismatic Collection, National Museum of American History

The War with Inflation and the Confederacy

During the Civil War, the Lincoln administration demonstrated that a progressive agenda and effective anti-inflationary measures could overlap.
by Andrew Donnelly via Public Books on September 20, 2022
Photo of Abraham Lincoln in front of images of infrastructure and currency.

How the U.S. Paid for the Civil War

Lincoln's wartime governance had dire, and longstanding, economic consequences.
by Jeffrey Rogers Hummel via Reason on September 17, 2022
Ronald Reagan pointing at a graph explaining his tax policy.
partner

Inflation Opened the Door to American Neoliberalism

An excerpt from "The Hidden History of Neoliberalism."
by Thom Hartmann via HNN on September 11, 2022
Collage of various Republican faces and symbols.

The Long Unraveling of the Republican Party

Three books explore a history of fractious extremism that predates Donald Trump.
by Kim Phillips-Fein via The Atlantic on September 6, 2022
A vacant home surrounded by a chain link fence is seen in Los Angeles, February 16, 2010.

Why Obama-Era Economists Are So Mad About Student Debt Relief

It exposes their failed mortgage debt relief policies after the Great Recession.
by David Dayen, Lindsay Owens via The American Prospect on August 31, 2022
Robert F. Kennedy on the presidential campaign trail in 1968.

Beyond GDP: Changing How We Measure Progress is Key to Tackling a World in Crisis

Amid the global threats posed by climate change, energy costs, unemployment and inequality, the need to rethink progress is now an urgent priority.
by Paul Allin, Diane Coyle, Tim Jackson via The Conversation on August 18, 2022
Woman placing groceries on conveyor belt at grocery store
partner

The Way to Fight Inflation Without Rising Interest Rates and a Recession

History shows that targeted price caps work when accompanied by a public campaign.
by Meg Jacobs via Made By History on August 9, 2022
FDR signing a bill into law.

On Economics And Democracy

High unemployment is extremely dangerous.
by Zachary D. Carter via In The Long Run on July 29, 2022
President Bill Clinton laughs after delivering remarks on welfare reform.

How the Democrats Learned to Stop Worrying and Love the Free Market

In the 1990s, the New Democrats trusted corporations to do the right thing. The results were disastrous.
by Maia Silber via Jacobin on July 18, 2022
Booker T. Washington addressing a laughing crowd of African American men in Lakeland, Tennessee, during his campaign promoting African American education. Ca. 1900.

Market Solutions to Ancient Sins

Freedom and prosperity are the most effective cure for the scars of slavery and racism.
by Jason Jewell via Law & Liberty on June 28, 2022
A woman wearing a winter coat and a mask walks outside the headquarters of the International Monetary Fund, Washington, D.C., January 2022.

How the System Was Rigged

The global economic order and the myth of sovereignty.
by Branko Milanović via Foreign Affairs on June 21, 2022
Debt written on a blackboard

How We All Got in Debt

Consumer debt shapes American lives so thoroughly that it seems eternal and immortal, but it’s actually relatively new to the financial world.
by Louis Hyman, Livia Gershon via JSTOR Daily on June 2, 2022
Black and white photograph of crowd in China holding pictures of Mao Zedong in celebration.

U.S. Relations With China 1949–2022

U.S.-China relations have evolved from tense standoffs to a complex mix of intensifying diplomacy, growing international rivalry, and increasingly intertwined economies.
via Council On Foreign Relations on May 26, 2022
Poster with women pledging to "pay not more than top legal prices" and "accept no rationed goods without giving up ration stamps"

Politics and the Price Level

On inflation, institutions, and the governance of the price level.
by Andrew Yamakawa Elrod via Phenomenal World on May 19, 2022
Cover for a book of scrip for use at American Potash and Chemical’s company stores, 1937.

Greenbacks, Chits, and Scrip

Alternative currencies flourish in desperate times and situations.
by Michael Meyer via Distillations on May 3, 2022
Bill Clinton speaking to a crowd.

How the Democrats Ditched Economic Populism for Neoliberalism

On the pro-business transformation of the Democratic Party.
by Michael Kazin via Literary Hub on March 28, 2022
Cleveland-Stevenson Tariff Reform Portrait Handkerchief

Tax Regimes

Historian Robin Einhorn reflects on Americans’ complicated relationship to taxes, from the colonial period through the Civil War to the tax revolts of the 1980s.
by Robin Einhorn, Noam Maggor via Phenomenal World on March 24, 2022
Farmers harvest wheat near the village of Tbilisskaya, Russia, July 21, 2021. That nation’s farmers produce nearly a fifth of world wheat exports.

How High Energy Prices Emboldened Putin

Rupert Russell’s new book shows how the financialization of commodity prices worsens volatility and destabilizes geopolitics. It couldn’t be more timely.
by Tim Sahay via The American Prospect on March 22, 2022
The Central Bank of the Russian Federation.

The Modern History of Economic Sanctions

A review of “The Economic Weapon: The Rise of Sanctions as a Tool of Modern War."
by Henry Farrell via Lawfare on March 1, 2022
The mushroom cloud created by the Castle Bravo nuclear test

The US Devastated the Marshall Islands — And Is Now Refusing to Aid the Marshallese People

The 1954 US nuclear tests absolutely devastated the small island nation, but the US has steadfastly refused to make real amends for it.
by Chuck McKeever via Jacobin on February 16, 2022
WWII Advertisement that highlights price controls.

Price Controls, Black Markets, And Skimpflation: The WWII Battle Against Inflation

To control inflation during WWII, the U.S. government resorted to wide-ranging price controls. Unintended consequences may be the reason they aren't used today.
by Greg Rosalsky via NPR on February 8, 2022
Artistic depiction meant to represent the global supply chain. At center is planet Earth, which has a hole in the middle. Earth is surrounded by 3 intersecting rings of various colors. The rings depict freight transport (transporting goods by rail, sea, and truck).

How We Broke the Supply Chain

Rampant outsourcing, financialization, monopolization, deregulation, and just-in-time logistics are the culprits.
by David Dayden, Rakeen Mabud via The American Prospect on January 31, 2022
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