P is for Ponzi by Michael Hudson

by Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
April 3, 2014

letter P

Image by LEOL30 via Flickr

Part P in the .

Panic: The abrupt culminating stage of the business cycle, in which inflated asset prices collapse in price as financial securities and properties are sold to pay off debts.

Parallel Universe: The objective of modern economic methodology. A hypothetical exercise in science fiction depicting a world that conceivably could exist, given a sufficient number of internally consistent assumptions. (See Neoclassical Economics.) Continue reading