"Arms, Revenue, and Entitlements: U.S. Deficits in the Cold War, 1945-1991 explores how defense, tax, and entitlement policies caused the U.S. government to become deficit normative during the Cold War era, arguing that only a comprehensive program can rein in deficits in the twenty-first century."

There is evidence-linking inequality to negative health outcomes and to a loss of trust in public institutions. Relevant causation runs both ways because institutional weakness makes it more difficult to redress persistent inequalities. In the period of dominance of neoliberal policies, the...

This paper introduces the notion of monetary disorder. The underlying theory rests on a twin circuits view of the macro economy. The idea of monetary disorder has relevance for understanding the experience and consequences of the recent decade-long period of monetized large budget deficits and...

As climate change intensifies, dry rainfall shocks and droughts are a growing concern. At the same time, scientific evidence suggests that the world has surpassed the safe planetary boundary for green water, which is water stored in biomass and soil that is crucial for maintaining climate...