Kebijakan Trump Menghentikan Kucuran Dana Untuk WHO

Direktur Jenderal WHO dr Tedros Adhanom Ghebreyesus mengatakan faksinya berasa sedih berakhir dengar informasi Presiden Donald Trump mengenai pemberhentian permodalan terhadap organisasi kesehatan dunia itu. Ini dia berikan dalam suatu pertemuan wartawan virtual pada Rabu waktu ditempat (15/4). “Amerika Serikat udah berubah menjadi kawan lama serta dermawan buat WHO serta kami ingin tetap akan demikian, ” kata Tedros, seperti dilansir AFP....

COVID-19: Winners and Losers

By James Kwak I think it’s highly likely that the dust will clear eventually and that our economy will come back to life at some point in the next two or three years. I know there are certain disaster scenarios that can’t be ruled out, but I think they are unlikely. I’m not going to guess when things will return to a semblance of normal. Really, no one knows. Photo by Free-Photos from PixabayThe question for now is: what will that economy look...

May 30, 2020 – we remember the release of the 1945 White Paper on Full Employment

Some Wednesday snippets today. Tomorrow, I will write about what I have been thinking about the Eurozone. There has been a lot of hot air about the Franco-German accord that Emmanuel Macron and Angela Merkel came to recently. Hot air is the operative term. The fault lines in the Eurozone continue to widen and the policy dissonance is becoming more acute as they deal, not only with the health crisis, but also the 19 economies that have been...

IPA’s weekly links

Guest post by Jeff Mosenkis of Innovations for Poverty Action Coronavirus patient, comedian Noam Shuster, found herself at the center of an accidental social experiment profiled on the Rough Translation podcast My colleague Kate Glynn-Broderick writes today with an example of how her existing project in Bangladesh, exploring gender gaps in access to mobile money and banking is quickly pivoting to COVID-19, as Bangladesh’s government plans to...

I Did Some Podcasts. They Were Great.

I did some podcasts recently that I think you might enjoy. Or you might hate them. I guess it depends. But I figured you might want to give them a listen in any case. The Alpha Trader Podcast – I joined Aaron Task and Stephen Alpher to discuss the current state of the financial markets including: Why the recent rally makes more sense than some people seem to think. Why this isn’t the next Great Depression. Why value stocks might finally...

A Compromise on Liability

So Mitch McConnell and the senate Republicans want blanket employer liability protection as the price of another round of economic support.  They have this leverage because Democrats kept postponing their agenda until they were the only ones with a list of things they wanted to spend money on.(This illustrates classic bargaining theory to a T.  Bargaining power depends on how much you think you will lose if the agreement is delayed...

The Escalating New Cold War

The Cummings Show

Monday afternoon, 25th May 2020. A beautiful, warm day on which to watch our new overlord make his first speech to the nation. I refer, of course, to Dominic Cummings's press conference.The Daily Mirror and the Guardian had revealed that Cummings had gone to stay in a family cottage near Durham at the end of March, and that he had also been seen in Barnard Castle, about 30 miles from Durham. The country was under full lockdown at the time,...

YOU GUYS CHECK OUT THE HOVERTEXT ON THE SITE… Also, more…

[unable to retrieve full-text content]YOU GUYS CHECK OUT THE HOVERTEXT ON THE SITE… Also, more commentary here.

Britain in the Boris Era

I’m writing this months after the December 2019 General Election. In part, this is due to me being preoccupied with other matters. For instance, on the day of the General Election I was in hospital having surgery on my jaw. But it was also useful to get a bit of distance between then and now in terms of being able to process the events of the General Election. It was a resounding and stonking victory for Boris Johnson. The night of the 13th of...

Monday Message Board

Back again with 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. If you would like to receive my (hopefully) regular email news, please sign up using the following link http://eepurl.com/dAv6sX You can also follow me on Twitter @JohnQuiggin, at my Facebook public page   and at my Economics in Two Lessons page Like...

To my students

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Undermining public finance to drive privatization

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Moving Into The New “Normal” Brian Romanchuk

Cannada-centric.Bond Economics Moving Into The New "Normal"Brian Romanchuk

Headlines, Chicago Fed, Gasoline consumption

Nothing good Friday’s headlines:

Jan Kregel: Why Stimulus Cannot Solve the Pandemic Depression

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Debt default or negotiated solution?

An Argentinean default is neither new, nor a surprise, perhaps, even for a casual observer of the ups and downs of international bond markets. One may want to follow Oscar Wilde’s Victorian governess advice and omit the chapter on the fall of the peso as being ‘too sensational.’ But an Argentinean default now, after the Great Shutdown provoked by the coronavirus pandemic, would be the harbinger of a generalized sovereign debt crisis for...

Standard Money Theory and the Coronavirus

By J.D. ALT The theme and illustrations of this essay are from the new book “Paying Ourselves to Save the Planet.” It might seem, as we observe the U.S. government “instantly” generating $2 trillion new dollars for direct payments and grants to people and businesses, that the coronavirus pandemic has shed a new light on the authenticity (and necessity) of modern money theory (MMT). But that light, if it is being shed at all, is illuminating...

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The Unlimited Financial Capacity of Currency-Issuing Governments

Policy responses to the COVID-19 pandemic, much like policy responses to the global financial crisis and Great Recession of a decade ago, carry a couple of clear macroeconomic lessons for anyone who cares to learn them: 1. A currency-issuing government faces no revenue constraint.2. A currency-issuing government dictates the terms on which it issues debt. It is not only electorates that, understandably, have been slow to appreciate these...

New Review of My Book

A nice review of my book by Marc Morgan has appeared in American Affairs. Morgan works with Thomas Piketty at the World Inequality Lab at the Paris School of Economics. He is doing interesting work on profit accounting and determination. I would also note that Morgan attended the same secondary school (high school) as me in Dublin. Apparently, Christian Brothers College, Monkstown — although not a very prominent school in any meaningful sense...

More On A Fixed Capital Example

Figure 1: A Partition of a Parameter Space for the Schefold Example1.0 Introduction I want to revisit a perturbation analysis of an example, from Bertram Schefold, of reswitching with fixed capital. Suppose workers use a machine to produce something or other, where the machine lasts several production periods. It is a possible choice to run the machine for less than its full physical life. One might think than choosing to adopt a...

A European Debt Agency as a structural response to the crisis

Massimo Amato is Professor of Economics, Bocconi University, Milan. The full paper, whose key points this post seeks to summarise, can be downloaded here in pdf format. ForewordThis post sums up the results of a collective research [1] and aims at providing the fundamental elements of a feasible European Debt Agency (DA). The DA is meant to be charged with financing sovereign debts with advantages both for the Eurozone Member States (MS) and...

The Progressive Economics Forum 1970-01-01 00:00:00

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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

Will COVID-19 Put Us Right With Nature?

The COVID-19 virus, as frightening as it now seems, may ultimately fail to jolt humanity out of its profligate habits. But instead of regarding the pandemic as merely another problem requiring a technical fix, the world should see it as an opportunity to rethink humanity’s relationship with the planet.LONDON – One of the few things not in short supply in the COVID-19 era is commentary on the pandemic. Understandably enough, the virus has...

More On A Fixed Capital Example

Figure 1: A Partition of a Parameter Space for the Schefold Example1.0 Introduction I want to revisit a perturbation analysis of an example, from Bertram Schefold, of reswitching with fixed capital. Suppose workers use a machine to produce something or other, where the machine lasts several production periods. It is a possible choice to run the machine for less than its full physical life. One might think than choosing to adopt a...

Jan Kregel: Why Stimulus Cannot Solve the Pandemic Depression

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Recovery fake?

Intervista su Il sussidiario.net RECOVERY FUND/ “È un bluff, per ripartire ci serve una nuova Iri” Pubblicazione: 27.05.2020 Ultimo aggiornamento: 07:48 - int. Sergio Cesaratto Oggi il Consiglio europeo dovrebbe affrontare il tema del Recovery Fund, strumento su cui l’Italia sembra contare molto per affrontare la crisi Siamo...

Response to Academic Agent on Modern Monetary Theory (MMT) Part 2

Academic Agent had a livestream here criticising my blog post that was a critique of his original video against MMT:[embedded content]This stream is a train wreck. Academic Agent and his Austrian-school libertarians struggle to even accurately grasp Modern Monetary Theory (MMT).I will not correct all the errors and misrepresentations here, or bother to correct every strawman argument.But, first of all, let us just provide a knockout blow to...

The Political Economy of Modern Epidemics by S.Mavroudeas – MARXIST STUDIES, YORK UNIVERSITY

Marxist Studies in a Global and Asian Perspective (MSGAP) is a research initiative within the York Centre for Asian Research: https://ycar.apps01.yorku.ca/msgap/ Working Hypotheses for the Political Economy of Modern Epidemics [embedded content] Working Hypotheses for the Political Economy of Modern Epidemics By Stavros Mavroudeas 1. During the last 30 to 40 years, capitalism has become more and more prone to epidemics, in contrast to the...

The Political Economy of Modern Epidemics by S.Mavroudeas – MARXIST STUDIES, YORK UNIVERSITY

Marxist Studies in a Global and Asian Perspective (MSGAP) is a research initiative within the York Centre for Asian Research: https://ycar.apps01.yorku.ca/msgap/ Working Hypotheses for the Political Economy of Modern Epidemics [embedded content] Working Hypotheses for the Political Economy of Modern Epidemics By Stavros Mavroudeas 1. During the last 30 to 40 years, capitalism has become more and more prone to epidemics, in contrast to the...

COVID-19 progress, take 2

In response to the comment on my last post . . . rolling 7 day average death rates with the peak for each country set to 100. We peaked later than most countries other than Germany, which seems to be making better progress than us.  We may be doing as well (or as badly) as the U.K.  It seems like France and Spain are also outperforming the U.S. on this metric.

Obamacare With a Public Option: Fool Me Twice Shame on Me

There is an old saying “Fool me once shame on you, fool me twice shame on me.” That saying is relevant for the current healthcare debate in which former Vice-President Biden and elite Democrats are touting a reheated version of Obamacare with a public option. It is a case of trying to fool the American ...

The age of green money

Could the Covid-19 crisis accelerate the adoption of a new, more equitable and more sustainable development model? The answer is yes, but under certain conditions. There must be a clear change in priorities and a certain number of taboos in the monetary and fiscal sphere must be challenged. This sector must work to the benefit of the real economy and used to serve social and ecological goals. In the first instance, we must use this forced...

Jeremy Corbyn On His And Tony Benn’s Positions On The EU And Brexit

Jeremy Corbyn On His And Tony Benn’s Positions On The EU And BrexitJeremy Corbyn appeard in a recent episode of the podcast Benn Society and at around 13:31 in the audio, he is asked about his and Tony Benn’s position on Brexit since both were opposed to the EU.Of course, as expected his answer was messed up as he never took a clear position but you can listen to what happened directly from him and how it cost Labout the election.Image credit:...

Jamie Galbraith on DiEM-TV’s ‘Another Now’ discussing the “criminal incapacity of the elites”

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