Heterodox
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What is new?
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Elon Musk is a liar.
There is no way there are millions and millions of people over 120 years old receiving Social Security benefits. That is a lie. 
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UK workers’ pay over 6 years – just about keeping up with inflation (but one sector does much better…)
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Fed is slowing the pace of balance sheet reduction. 
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The Emergence of Triple Switching and the Rarity of Reswitching Explained
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Are Trump’s policies starting to work?
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Schuldenbremse bye bye
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Lord Skidelsky to ask His Majesty’s Government what is their policy with regard to the Ukraine war following the new policy of the government of the United States of America.
Ann Pettifor: Debtonation
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Verso Live: Ann Pettifor and The Care Collective
The politics of radical care Carelessness reigns; ‘self care’ is self-serving; privatisation is swamping the care sector; in this time of global pandemic and care crisis The Care Collective are joined by Ann Pettifor, author of The Case for the Green New Deal, to discuss their new proposal for caring change: The Care Manifesto. This ...
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World Class Live Casino & Online Sports Betting
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IST2020 Keynote by Ann Pettifor
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IST 2020 Ann Pettifor – Graphic Recording
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Permainan Judi Bola Online Paling Digemari di Agen Sbobet Terpercaya
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#betd2020 Speaker Statement: Ann Pettifor
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Agen Judi Bola Terpercaya Paling Direkomendasikan Di Indonesia
Baseline Scenario
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A Few Quick Announcements
By James As I wrote a couple of years ago, I don’t post here anymore. I just have a couple of updates for people who subscribe and may be interested in my work. I upgraded my personal website to the 21st century. I have a new book! The Fear of Too Much Justice: Race, Poverty, and the Persistence of Inequality in the Criminal Courts is coming out on June 20 from the New Press. My co-author is Stephen Bright, a legendary death penalty...
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Letter to Treasury Secretary Janet Yellen: In Support of a Price Cap on Russian Oil Exports
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Assessment: Stacey Abrams’ Budget Plan
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Imposing Sanctions on Russian Energy Exports
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Quick Housekeeping Note
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Quick Housekeeping Note
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Moving On
Chris Blattman
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Cyber Warfare Is Getting Real: The risk of escalation from cyberattacks has never been greater—or the pursuit of peace more complicated
In 2022, an American dressed in his pajamas took down North Korea’s internet from his living room. Fortunately, there was no reprisal against the United States. But Kim Jong Un and his generals must have weighed retaliation and asked themselves whether the so-called independent hacker was a front for a planned and official American attack.In 2023, the world might not get so lucky. There will almost certainly be a major cyberattack. It could...
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The Hard Truth About Long Wars: Why the Conflict in Ukraine Won’t End Anytime Soon
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Presentation to the Joint Chiefs Operations Directorate
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Spectator picks WWF as a best book of 2022
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From street fights to world wars: What gang violence can teach us about conflict
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The prospects for war with China: Why I see a serious chance of World War III in the next decade
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When is War Justified?
Cullen Roche: Pragmatic Capitalism
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Understanding the Modern Monetary System – Updated!
It’s been over 10 years since I published Understanding the Modern Monetary System, one of the most widely read papers in the SSRN research database. I published this paper because I was having trouble finding a succinct but thorough explanation of money and macroeconomics during the financial crisis. Further, many of the mainstream explanations of concepts like QE, banking, inflation and money appeared outdated at best and wrong at worst....
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We’re Moving!
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Has Housing Bottomed?
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The Economics of a United States Divorce
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Three Things I Think I Think – No Landing
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The Investor’s Podcast: ESG Investing, The Death of 60/40 and More
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2023 Market Outlook: Inflation, Recession, and the Fed w/ Cullen Roche (TIP523)
EconoSpeak
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On Antonio Negri’s refusal of work and Karl Marx’s disposable time: a Q&A with Michael Hardt
At the Columbia Center for Contemporary Critical Thought Marx 9/13 session on the Grundrisse last night, I asked a question from Zoom that cannot be heard on the Youtube video because of technical difficulties. I will try to reconstruct the jist of the question here along with a bit of context. I apologize if the reconstruction of my question is a bit more coherent than the original, which was made unintelligable by a time delay and apparent...
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The Theory of Crisis: Sandwichman’s and Uno Kōzō’s (both Marx’s)
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The Theory of Crisis: Kōzō Uno’s and Sandwichman’s
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Hot off the press… and cut… and fold… and glue. It’s Amazing!
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On the politics that would make a post-growth transition possible
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A thing of beauty is a joy forever
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Klaus Fuchs, Max Beer, and Our Anonymous Pamphleteer
Francis Coppola
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The myths that refuse to die
In my last post, I debunked the myth of the "reserve pool" of British workers. In this post, I discuss three more labour force myths that refuse to die: the myth of the "tide of unskilled immigration"the myth of the falling participation rate, and the myth of the "workless yoof". There's also an update about my charity walk in the Lake District last Saturday, and a couple of pics. Read the post here. It's free to...
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Why the Tories’ “put people to work” growth strategy has failed
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Demons deserve our sympathy
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Trade lunacy is back
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The West must no longer tolerate Israel’s human rights breaches
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Is Gaza starving?
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We need to talk about the state pension
Jodi Beggs: Economists Do It With Models
John Aziz: Azizonomics
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My Future
I am winding down Azizonomics, though, as I am sure you are already aware it has already existed in a winded down state for many years, particularly since I left The Week in 2014. I mostly started this blog in 2011 because I was concerned about the economy, and the future, and was reading a lot, and jotting down my thoughts. From today, I will be focusing on my new podcast: Cybernetics Chat. The focus of that is much more a mixture of...
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Britain in the Boris Era
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My Thoughts On Brexit
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Bitcoin Is Failing As Money—But Bitcoin Cash Isn’t
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Don’t Tolerate The Trumpists
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Yellen: “There Will Be No New Crisis In My Lifetime”
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Protected Blog › Log in
John Quiggin
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Monday Message Board
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here. Share this:Like Loading...
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Monday Message Board
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Dispensing with the tech-bros
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Dispensing with the US-centric financial system
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Monday Message Board
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How to dispense with Trump’s US
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Monday Message Board
Lars P. Syll
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Schuldenbremse bye bye
The German parliament today, after heated debate, approved the much discussed debt package worth hundreds of billions of euros for defence and infrastructure. With the necessary two-thirds majority, the parliament in Berlin passed a constitutional amendment allowing defence and security expenditures to be exempt from the Schuldenbremse (debt brake). The previously strict debt rules for the federal states will also be relaxed. Better late than...
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Vad historien lär oss
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What’s wrong with economics — a primer
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Late-winter blessing (personal)
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Hovern’engan
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Krigskeynesianismens återkomst
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Finding Eigenvalues and Eigenvectors (student stuff)
Michael Hudson
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Something Nutty Emerging Here
[unable to retrieve full-text content]Michael Hudson and Richard Wolff discuss Sahra Wagenknecht’s break from Die Linke and her struggle to push genuine left-wing economic policies in Germany. They highlight Germany’s economic challenges, including U.S. demands for increased military spending and tariffs on European exports. The speakers argue that Germany faces a choice: align with BRICS or deepen its reliance on the U.S. The broader...
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Why Banking Isn’t What You Think It Is
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The Horizon Nears on America’s Free Financial Ride
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Capital as Power in the Polycrisis
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Why Gold Prices Should Rise—But Don’t
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American Imperialism in Plain Site
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The Road to Chaos – A Global Balance of Payments War
Mike Norman Economics
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Elon Musk is a liar.
There is no way there are millions and millions of people over 120 years old receiving Social Security benefits. That is a lie. 
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Fed is slowing the pace of balance sheet reduction. 
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Are Trump’s policies starting to work?
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A follow up on my last video. 
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Elon’s “Magic Money Tree.” Are you kidding me?
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If you signed up using Hushmail as your email.
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Compiling my report helps me strip out the noise.
Mosler Economics
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Warren Mosler | Deep 6 The Financial Sector
Presented 17 July 2024 | MMT Conference | Leeds University
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Warren Mosler | The 8th Deadly Innocent Fraud
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Updated blog posts
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Housing permits and starts, GDP forecast
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Housing permits and starts, GDP forecast
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Industrial production, EU trade, miles driven
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Industrial production, EU trade, miles driven
Multiplier Effect
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Multiplier Effect 1970-01-01 00:00:00
[unable to retrieve full-text content]
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Otmar Issing Is Still Living in His Monetary Fantasy World
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Otmar Issing Is Still Living in His Monetary Fantasy World
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An Accommodative Fiscal Stance Is Crucial for India
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An Accommodative Fiscal Stance Is Crucial for India
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Join Us for the 2022 Levy Institute Summer Seminar
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Join Us for the 2022 Levy Institute Summer Seminar
Naked Keynesianism
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The behavior of the nominal exchange rate between the Brazilian Real and the dollar in 2024
By Nathalie Marins, Ricardo Summa & Daniel Consul (Guest bloggers)Currency devaluations can disrupt developing economies by raising import costs and food prices, which in turn reduces real wages. This impact is particularly detrimental to lower-income households, which typically allocate a substantial portion of their income to essential goods. Consequently, when the local currency weakens, governments encounter increased political...
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Serrano, Summa and Marins on Inflation, and Monetary Policy
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What is heterodox economics?
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The 8th Godley-Tobin Lecture
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Milei and real wages in Argentina
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Are we on the verge of a debt crisis?
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Podcast on the first year of Milei’s government in Argentina
New Economic Perspectives
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RobotBulls: Einsatz von KI und Blockchain zur Datenverarbeitung im Bereich der Kryptowährungen
RobotBulls: Einsatz von KI und Blockchain zur Datenverarbeitung im Bereich der Kryptowährungen RobotBulls ist ein Technologieentwickler, der sich auf die Anwendung von künstlicher Intelligenz (KI) und Blockchain-Technologie spezialisiert hat. Diese Technologien werden genutzt, um Datenanalysen im Kontext von Kryptowährungen zu unterstützen. Dieser Artikel beschreibt die technischen Merkmale und die Anwendungsbereiche von RobotBulls. Technische...
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New Economic Perspectives 1970-01-01 00:00:00
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Standard Money Theory and the Coronavirus
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Standard Money Theory and the Coronavirus
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Standard Money Theory and the Coronavirus
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Manhattan Project to prevent Hyper-Inflation
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Manhattan Project to prevent Hyper-Inflation
New Economics Foundation
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Are we falling for the myth of minority rule?
Podcasts Are we falling for the myth of minority rule? Ayeisha Thomas-Smith is joined by Ash Sarkar By Ayeisha Thomas-Smith 26 February 2025 We are living in a time of contradictions. For the last forty years,...
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Is the Labour government delivering on its promises?
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Whose growth is it anyway?
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How local services are showing there is another way to provide for communities
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The Bank of England is costing us billions
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Why should the left care about central banks?
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What’s new in the fight for workers’ rights
Peter Cooper: Heteconomist
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‘Unproductive’ Labor and Marxist Resistance to MMT
Rather than engage in histrionics over what is obviously a supply-side or cost-push (rather than demand-side or demand-pull) inflationary period, I have been pondering Marxist resistance to MMT. When viewed from the standpoint of Marx’s theory of value, the resistance makes little sense, since there is nothing in MMT necessarily incompatible with a conception of value based in labor time. When viewed from the standpoint of politics, it also...
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‘Unproductive’ Labor and Marxist Resistance to MMT
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A Currency-Issuing Government Must Spend Before Non-Government Can Meet Its Net Financial Liabilities
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A Currency-Issuing Government Must Spend Before Non-Government Can Meet Its Net Financial Liabilities
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Comments on Recent Marxist Claims about MMT and Incidentally Kalecki
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Comments on Recent Marxist Claims about MMT and Incidentally Kalecki
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Marx and MMT – Remarks on Long-Term Policy and Social Implications
Philip Pilkington: Fixing Economists
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Fixing the Economists 1970-01-01 00:00:00
[unable to retrieve full-text content]
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FX Crises and the Trajectory of Interest Rates
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Is China Facing a Minsky Moment?
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Inflation, the Quality Factor and Distribution
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Investing During Inflation
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Podcast on Inflation and Labour Shortages
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Forecasting Future Inflation Using Private Sector Indices
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Post-Keynesian
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The Emergence of Triple Switching and the Rarity of Reswitching Explained
I have written up a series of post as a research paper: first post, second, third, fourth, fifth, sixth, seventh. Here I present the abstract and most of the introduction. Abstract: Empirical research indicates that the reswitching of techniques, as well as multiple switching with more switch points, is rare. This article explores parameter spaces in the analysis of the choice of technique to suggest why reswitching and triple-switching...
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Two Sad Stories About Great Mathematicians
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Recap For A Triple -Switching Example
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Some Works Of Mainstream Economics?
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A Sixth Double-Fluke Switch Point For A Triple-Switching Example
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The History Of No-Longer-Existing Socialism Validates Marx
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A Fourth And Fifth Double-Fluke Switch Point For A Triple-Switching Example
Prime, Policy Research in Macroeconomics
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UK workers’ pay over 6 years – just about keeping up with inflation (but one sector does much better…)
Today (Thursday), the Office for National Statistics published its monthly set of employment stats. While its Labour Force Survey has been under the cosh for some time for unreliability, the ONS’s data on average wage rates and changes retain their importance. The data – this time for January 2025 – covers average total pay, regular pay and bonus pay for the whole workforce. It also provides average wage data by broad sector.The ONS also...
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Argentina’s Economic Shock Therapy: Assessing the Impact of Milei’s Austerity Policies and the Road Ahead
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The Poverty of Neo-liberal Economics: Lessons from Türkiye’s ‘Unorthodox’ Central Banking Experiment
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Global Economic Governance: What’s “Growth” Got to Do with It?
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From Chile in 1973 to Argentina and Türkiye in 2023: Economic Genocide Continues
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Prime 1970-01-01 00:00:00
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India’s Inclusion in the JP Morgan GBI-EM (bond) Indices
Progressive Economics Forum
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Subsidized housing for francophone seniors in minority situations
I recently co-authored a report on the need for more rental housing for francophone seniors in minority situations. Here’s a ‘top 10’ overview of the report: https://nickfalvo.ca/subsidized-housing-for-francophone-seniors-in-minority-situations/
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Homelessness among older persons
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The economic policy legacy of the Justin Trudeau Liberal Government, 2015 to 2024
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Interrogating the ‘Vibecession’
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Homelessness planning during COVID
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Demand-side housing assistance
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Homelessness 101
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Real-World Economics Review
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Latest SNB Intervention Update: Weekly Sight Deposits
Weekly update on SNB interventions: Sight deposits are debt for the central bank. An increase of sight deposits implies more debt and SNB interventions
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Swiss National Bank: Lost More than Half of Owners’ Equity
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What Drives Government Bond Yields?
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Swiss National Bank: Composition of Reserves and Investment Strategy
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The Euro Glut: The Summer 2015 Update
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The Holy Grail of Long-Term Currency Movements: Crowther’s Balances and Imbalances of Payments
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SNB interventions June 2015
Robert Skidelsky
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Lord Skidelsky to ask His Majesty’s Government what is their policy with regard to the Ukraine war following the new policy of the government of the United States of America.
18th of March 2025 My Lords, last Thursday, the noble Lord, Lord Howell, asked the House to take note of the UK’s international position. My purpose today is narrower but more urgent; to ask the Government what their Ukraine policy now is. It is urgent because the Trump Administration have torn up the familiar script. I wish the Government had offered a full-length debate to consider the consequences of this. I remind your Lordships of...
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House of Lords Speech – Ukraine: “A wake up call” (International Relations and Defence Committee Report)
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Speech in the House of Lords – Conduct Committee
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The American Conservative – Why Is the UK So Invested in the Russia–Ukraine War?
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The American Conservative: Skidelsky on Russia, Ukraine and the Future of European Security
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Britain’s insistence on total Ukrainian victory was misguided – it’s time for a realistic compromise
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Ukrayna: Savaş mı barış mı? – Article in Karar – 13/01/2025
Robert Vienneau: Thoughts Economics
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The Emergence of Triple Switching and the Rarity of Reswitching Explained
I have written up a series of post as a research paper: first post, second, third, fourth, fifth, sixth, seventh. Here I present the abstract and most of the introduction. Abstract: Empirical research indicates that the reswitching of techniques, as well as multiple switching with more switch points, is rare. This article explores parameter spaces in the analysis of the choice of technique to suggest why reswitching and triple-switching...
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Two Sad Stories About Great Mathematicians
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Recap For A Triple -Switching Example
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Some Works Of Mainstream Economics?
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A Sixth Double-Fluke Switch Point For A Triple-Switching Example
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The History Of No-Longer-Existing Socialism Validates Marx
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A Fourth And Fifth Double-Fluke Switch Point For A Triple-Switching Example
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Seldomly updated
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Multiplier Effect 1970-01-01 00:00:00
[unable to retrieve full-text content]
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A Few Quick Announcements
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Letter to Treasury Secretary Janet Yellen: In Support of a Price Cap on Russian Oil Exports
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Assessment: Stacey Abrams’ Budget Plan
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Otmar Issing Is Still Living in His Monetary Fantasy World
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Otmar Issing Is Still Living in His Monetary Fantasy World
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Imposing Sanctions on Russian Energy Exports
Sergio Cesaratto: Politica and EconomiaBlog
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Nuovo Working Paper di dialogo interdisciplinare fra economisti e antichisti
Sergio Cesaratto Morality and Alternative Economic Theories in Ancient History Studies: a Review ArticleWorking Paper DEPS, USiena n.923 - Dicembre 2024 Abstract The book "Models, Methods, and Morality" discusses moral values in the field of ancient economic history, where neoclassical hegemony in the form of the New Institutional Economics has progressively gained ground. The book mainly criticises mainstream economics for focusing...
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La nuova governance fiscale europea
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Draghi mercantilista?
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Il “Nobel” ad Acemoglu et c. commentato e criticato su Ottolina TV
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On an unknown element of the Eurosystem monetary governance
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Danni collaterali del rialzo dei tassi
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Europa, debito, governo (da Il Sussidiario)
Socialdem. 21st Century
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“Taxes drive Money”: What does this mean in MMT?
This is a very important point since one criticism of my last post is the view that “only taxes levied by the state and the need to pay those taxes in the state-issued fiat money drive the demand for, and value of, that fiat money and its use as a general medium of exchange in modern nations” is not actually held by L. Randall Wray, the most prominent academic advocate of MMT. So it turns out that, on this issue, I have to eat some humble...
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Per Bylund’s “Is it Money because it is redeemed in Tax Payments?”: A Post Keynesian Response
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Radhika Desai on the Labour Theory of Value: A Refutation
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Per Bylund versus Carl Menger on Taxes driving the Value of Money
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Marx’s Capital, Volume 3, Chapter 10: A Critical Summary
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Marx’s Labour Theory of Value: A Concise Refutation
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Paul Cockshott’s “Why Labour Theory of Value is Right”: A Refutation
Stavros Mavroudeas Blog
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CfP of Marxist Macroeconomic Modelling workgroup – 18th WAPE Forum, Istanbul August 6-8, 2025
The 18th World Association of Political Economy Forum (WAPE) will be held in Istanbul (August 6-8, 2025). The Call for Papers can be found here: https://wapeweb.org/ The Marxist Macroeconomic Modelling workgroup has issued a special CfP for a stream in the forum. The CfP follows Workgroup for Marxist Macroeconomic Modelling Call for Papers for the 18th Forum of the World Association for Political Economy ‘Multipolarity in...
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Is Neoliberalism still the dominant economic paradigm in the West today? – S.Mavroudeas
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‘Economic Crisis and the crisis of Economics: Political Economy as a realistic and credible alternative’ – S.Mavroudeas (video and supporting material)
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Financialisation versus Marxism – S.Mavroudeas (video and supporting material)
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Financialisation versus Marxism
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«Ο Λένιν ως πολιτικός οικονομολόγος» – Στ.Μαυρουδέας ΠΡΙΝ 18-19/1/2025
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«Ξανά για το θέατρο σκιών του ελληνικού καπιταλισμού», Στ.Μαυρουδέας Documento 12-1-2025
Steve Keen’s Debt Watch
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CfP of Marxist Macroeconomic Modelling workgroup – 18th WAPE Forum, Istanbul August 6-8, 2025
The 18th World Association of Political Economy Forum (WAPE) will be held in Istanbul (August 6-8, 2025). The Call for Papers can be found here: https://wapeweb.org/ The Marxist Macroeconomic Modelling workgroup has issued a special CfP for a stream in the forum. The CfP follows Workgroup for Marxist Macroeconomic Modelling Call for Papers for the 18th Forum of the World Association for Political Economy ‘Multipolarity in...
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Is Neoliberalism still the dominant economic paradigm in the West today? – S.Mavroudeas
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‘Economic Crisis and the crisis of Economics: Political Economy as a realistic and credible alternative’ – S.Mavroudeas (video and supporting material)
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Financialisation versus Marxism – S.Mavroudeas (video and supporting material)
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Financialisation versus Marxism
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«Ο Λένιν ως πολιτικός οικονομολόγος» – Στ.Μαυρουδέας ΠΡΙΝ 18-19/1/2025
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«Ξανά για το θέατρο σκιών του ελληνικού καπιταλισμού», Στ.Μαυρουδέας Documento 12-1-2025
The Angry Bear
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JOLTS revisions from Yesterday’s Report
[unable to retrieve full-text content]Angry Bears’ New Deal democrat discusses JOLTS frequently. I am not sure if everyone knows what it means. I believe it calls for a short explanation. The acronym JOLTS is an abbreviation for “Job Openings and Labor Turnover Survey.” The Bureau of Labor Statistics (BLS) produces JOLTS reports monthly and also annual estimates of job […] The post JOLTS revisions from Yesterday’s Report appeared first on...
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No Invading Allies Act
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A Developed Taste
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The North American Automobile Industry Waits for Trump and the Gov. to Act
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Families Struggle Paying for Child Care While Working
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Time for Senate Dems to stand up against Trump/Musk
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Is abundance the liberal answer to Trump?
Thomas Palley: Economics for Democratic and Open Societies
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Germany’s election & why it is important to understand the Ukraine War
I urge you to watch this YouTube mini documentary (30 minutes). If that is too long, watch just the segment from 10:30 -12:00 (1.30 minutes). Jeffrey D. Sachs – Understanding the Ukraine conflict – Brave New Europe Every German should watch this before voting in the February election (and every European should watch in advance ...
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The Ukraine – Russia war explained: how the US exploited internal fractures in the post-Soviet order (plus lessons for Georgia)
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Causes of the Ukraine War & the case for Georgian non-alignment — An interview I gave in Tbilisi, Georgia
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We still ask if 80 years ago they (ordinary Germans) knew?
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Varieties of capitalism and societal happiness: theory and empirics
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Neoliberalism and the Drift to Proto-Fascism: Political and Economic Causes of the Crisis of Liberal Democracy
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Ukraine’s Hiroshima moment is drawing closer (the consequences of Neocon madness)
Thomas Piketty
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Regaining confidence in Europe
In the face of the Trumpian onslaught, Europe urgently needs to regain its self-confidence and propose a different development model to its citizens and the world. To achieve this, it must start by overcoming the permanent self-denigration that too often stands in for public debate on our continent. According to the doxa that prevails in many leadership circles, Europe is living beyond its means and needs to tighten its belt. The latest...
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Trump, national-capitalism at bay
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Democracy vs oligarchy, the fight of the century
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For a new left-right cleavage
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Unite France and Germany to save Europe
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How to tax billionaires
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Europe must invest: Draghi is right
Yanis Varoufakis: Thoughts for the Post-2008 World
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Yanis Varoufakis über den Bedarf der Welt an einer neuen Bewegung der Blockfreien Staaten
Https://en.m.wikipedia.org/wiki/Kutub_al-Sittah#cite_note-tahir-4 https://podcasts.ox.ac.uk/ http://videolectures.net/ https://medieval.bodleian.ox.ac.uk/ https://portail.biblissima.fr/en https://sms.cam.ac.uk/ https://plato.stanford.edu/entries/qt-quantlog/ https://ui.adsabs.harvard.edu/ https://www.persee.fr/ http://hadithtransmitters.hawramani.com http://www.onacademic.com/detail/journal_1000041695625699_93d5.html...
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Yanis Varoufakis speaks on Julian Assange at the Belmarsh Tribunal Sydney, Australia.
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Εκδήλωση | Από την Κρίση στον Πόλεμο: Ένας Χρόνος Μετά
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Γ.Βαρουφάκης: Η τραγωδία στα Τέμπη επιβεβαιώνει πως ο διαχωρισμός δικτύου-παρόχων είναι εγκληματικός
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Yanis Varoufakis | Cambridge Union
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Yanis Varoufakis über den Bedarf der Welt an einer neuen Bewegung der Blockfreien Staaten
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Πανέτοιμο το Μέρα25 του Βαρουφάκη για Εκλογές.VAROUFAKIS VARIANT DETECTED