James Crotty: Financial execs make large bonuses and don’t care about risk; knew govt. would save them
“False values” and “structural blackmail”
James Crotty: The creation of speculative bubbles creates false values which leads to huge bonuses Pt 2
James Crotty is a Post-Keynesian macroeconomist whose research in theory and policy attempts to integrate the complementary analytical strengths of the Marxian and Keynesian traditions. He received his Ph.D. from Carnegie Mellon University in 1973, and after teaching at the University at Buffalo and The State University of New York, he joined the Economics Department of the University of Massachusetts Amherst, Amherst. He has made contributions to the social structure of accumulation (SSA) theory; the implications of radical uncertainty for macro theory and theories of financial markets.
False values and structural blackmail Pt3