Matías Vernengo is professor of economics at Bucknell University and former senior research manager at the Central Bank of Argentina. He is coeditor of the Review of Keynesian Economics and coeditor in chief of The New Palgrave Dictionary of Economics.
Rising Treasury yields are not a market verdict on government recklessness. They are a policy decision that transfers income from workers and borrowers to bondholders and financial institutions.
Neoliberalism’s defining feature was always the insulation of capital from democratic control. Trumpism’s break with free trade has changed the rhetoric. But the underlying economic order remains intact.
Gustavo Petro’s “economy for life” captures something essential about the planetary crisis. Turning it into a program requires confronting the structures that stand in the way.