As global capitalism advances through the second decade of the 21st century, three observations stand out: Deflation, i.e. collapse of all prices (inclusive of wages and interest rates) Stalled productivity growth Widening income inequalities and deepening of fragmentation and social exclusion. While the mainstream attempts to trivialize these as the new normal, the deflationary environment […]
A. Erinç Yeldan is Professor and Dean of the Faculty of Economics, Administrative and Social Sciences, Bilkent University. He received his Ph.D. from University of Minnesota, USA, and joined the Department of Economics at Bilkent in 1988. His recent work focuses on development macroeconomics, vulnerability and fragmentation of labor markets, de-industrialization, and economics of climate change, and on empirical, dynamic general equilibrium models. He is one of the executive directors of the International Development Economics Associates (IDEAs), New Delhi.