The unfortunate uselessness of most 'state of the art' academic monetary economics
Standard macroeconomic theory did not help foresee the crisis, nor has it helped understand it or craft solutions. This columns argues that both the New Classical and New Keynesian complete markets macroeconomic theories not only did not allow the key questions about insolvency and illiquidity to be answered. They did not allow such questions to be asked. A new paradigm is needed.
monochrom is an art-technology-philosophy group having its seat in Vienna and Zeta Draconis. monochrom is an unpeculiar mixture of proto-aesthetic fringe work, pop attitude, subcultural science, context hacking and political activism. Our mission is conducted everywhere, but first and foremost in culture-archeological digs into the seats (and pockets) of ideology and entertainment. monochrom has existed in this (and almost every other) form since 1993. [more]
