Post no 4 – 6 july 2026 Preface Yesterday, today and tomorrow, at the end of each day, everybody’s concern is to have their needed food, clothing and shelter. Whether in an environment of scarcity or abundance, the fear of going hungry, freezing in the cold, suffocating in the heat or not having the shelter… Continue reading A Likely Story – O.F. Hamouda (forthcoming)
Author: Omar F. Hamouda
A Likely Story – O.F. Hamouda
Corporation and labor laws, fueled by unconstrained credit liquidity and the socialization of risk factors, sustain the inertia of capital accumulation that generates growth but also contributes to the attrition of labor in favor of capital and produces expanding structural income disparities. This is the meaning of Capitalism in A Likely Story, an explanation of… Continue reading A Likely Story – O.F. Hamouda
Some Remarks on `Uncertainty and Economic Analysis’
In an important paper, Lawson (1985a) discusses the conditions under which it is possible to carry out a coherent economic analysis of a system which is subject to fundamental uncertainty (as opposed to mathematical risk). Read more … https://www.jstor.org/stable/2233517 Bibliographic citation: Omar F. Hamouda and John N. Smithin, “Some Remarks on ‘Uncertainty and Economic Analysis’”,… Continue reading Some Remarks on `Uncertainty and Economic Analysis’
Rational Behavior with Deficient Foresight
INTRODUCTION Although there has recently been a revival of some broadly “Keynesian” ideas and concepts in marcoeconomics, under the label of “New Keynesianism” (Colander, 1988), the so-called rational expectations hypothesis (REH) remains a major element in these theories.1 By now, it is widely accepted by both “New Keynesian” and “New Classical” economists that the REH… Continue reading Rational Behavior with Deficient Foresight
Free-market, a casualty of the global corporate capitalism, and the tech-leveraging paradox
🎙 Post no 3 – 4 august 2021 Might one not have to create a different economic world after Covid … which is not capitalist, whether right- or left-leaning … The world of the last decade has been spinning too fast. Most economic indicators, such as credit creation and debt liability, which have increased exponentially,… Continue reading Free-market, a casualty of the global corporate capitalism, and the tech-leveraging paradox
Keynes: A non-sequetor of Wicksell
Keynes: A non-sequetor of Wicksell Hayek accuses Keynes of being ignorant of the contributions of Böhm-Bawerk in the treatment of capital, presuming that Keynes could not read German and was thus unaware of the German literature. Keynes, however, acknowledged Spiethoff, Knapp, and mainly Wicksell, whose writings at the time were mostly available in German.[1] There… Continue reading Keynes: A non-sequetor of Wicksell
Today’s way of life: should it be taken for granted?
🎙Post no 2 – 13 July 2021 The COVID-19 pandemic has disrupted profoundly the way of life worldwide. A cry for ‘return to normal’ is becoming a consistent recurrent plea for returning to daily activities, preoccupations, and behaviours as before, as if such conceived normality is immutable. The fear of change and the desire to… Continue reading Today’s way of life: should it be taken for granted?
Post-COVID-19 growth recovery paths ahead
🎙Post no 1 – 1 July 2021 There are basically two opposing paths of development ahead: – either persist in applying the same economic policies that gave arise to accelerated corporate capital accumulation, thus furthering its speed with a likelihood of fuelling more strain on resources, greater disparities in income and opportunities, albeit with the… Continue reading Post-COVID-19 growth recovery paths ahead
Beyond the IS/LM Device: Was Keynes a Hicksian?
O. F. Hamouda, 1986. “Beyond the IS/LM Device: Was Keynes a Hicksian?,” Eastern Economic Journal, Eastern Economic Association, vol. 12(4), pages 370-384, Oct-Dec.
Money, Investment and Consumption: Keynes’s Macroeconomics Rethought – O.F. Hamouda
What analysis? Which disease? What does it mean to preserve efficiency and freedom? Read sample pages from the book here – Most if not all academic research in macroeconomics since 1936 has evolved around asserting or countering Keynesian economics – Most if not all post-war economic policies, guiding first the free-market industrialized economies, then almost… Continue reading Money, Investment and Consumption: Keynes’s Macroeconomics Rethought – O.F. Hamouda