Hubungan Antara Teknologi dan Guru Bahasa Inggris

Teknologi memiliki dampak besar pada pendidikan dan cara kita belajar, dan sektor pembelajaran bahasa Inggris tidak terkecuali. Pembelajaran teknologi dan bahasa memiliki sejarah panjang. Jika kita kembali ke tahun 1980-an, ledakan dalam komputasi rumah mulai mengubah cara kita belajar. Baru-baru ini munculnya internet dan pengenalan papan tulis interaktif juga memiliki efek dramatis pada ruang kelas. Contoh seperti, di Cambridge Assessment...

False Choice

By James Kwak The scene: Two well-dressed, fully employed people sitting at a table in the chic café at their workplace. Martha: Do you like your health plan? George: I love it. Martha: How much do you pay for your plan? George: About $550 per month.* Martha: Do you have a deductible? George: I have a $1,000 deductible for my whole family. Martha: What about co-payments? George: I have to pay 20% of the cost for hospital stays and outpatient...

The Weekend Quiz – January 18-19, 2020

Welcome to The Weekend Quiz. The quiz tests whether you have been paying attention or not to the blog posts that I post. See how you go with the following questions. Your results are only known to you and no records are retained. 1. The net worth of the non-government sector would be initially invariant to a decision by government to match or not to match its net public spending with bond issues. TrueFalse2. The wider the spread...

IPA’s weekly links

Guest post by Jeff Mosenkis of Innovations for Poverty Action. A few years ago, Liberia, whose educational system has been troubled to say the least, tried an experiment. In the face of under-resourced and underperforming public schools, they wondered if private education providers could run public schools better than the government was? The country announced that it was going to outsource the whole country’s schools to one American company,...

Let’s Talk About the Utility of Balance Sheet Consolidation

I caused a bit of a fuss in my last post regarding MMT and what I believe is an obscure consolidation of government entities in their accounting. But I want to go into this a bit more because it’s useful to understand in a bit more detail. Accounting is a nice way of constructing and deconstructing the financial world so we can better understand it. Part of the way we do that is by looking at the various components of the world in terms of...

Further Followup On The Soleimani Assassination

I wish to bring out some matters not getting a lot of attention in the US media.An important one of those was reported two days ago by Juan Cole. It is that apparently it has not been determined for certain that the initial attack that set off this current round of deaths when a militia in Iraq attacked an Iraqi military base in Kirkuk in which an American contractor was killed, almost certainly a matter of collateral damage although not...

The Iran conflict and why political events aren’t bigger economic drivers

Somewhere in the Credit Writedowns archive are comments regarding US President Trump to the effect that political economy shocks won't matter. So I want to share a quick anecdote with you on why I have never put too much stock in the political economy as a crucial factor regarding market or economic...

The NI Fund’s reserves don’t pay down the National Debt

The NI Fund discussed in this post covers England, Wales and Scotland only. Northern Ireland has a separate NI Fund, which is excluded from the figures given in this post. However, it works in exactly the same way as the Fund discussed here. Sometimes the government is its own worst enemy. HM Treasury's hamfisted response to this Freedom of Information request from Trudy Baddams of the pension rights campaign group "We Paid In, You Paid...

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.

My Thoughts On Brexit

I haven’t written a post in a long time. My blog was mostly an attempt to piece together and understand the 2008 financial crisis, and the various consequences of it. One pretty big consequence, at least in my home country, the United Kingdom, has been Brexit. I didn’t vote in the 2016 referendum. Mostly because I was at that time I was living abroad in the United States with my father, having moved there the previous year, and I had trouble...

Climate change and the strange death of libertarianism

It wasn’t that long ago that everyone was talking about the “libertarian moment” in the US. Now, libertarianism/propertarianism is pretty much dead. The support base, advocacy groups and so on have gone full Trumpists, while the intellectual energy has shifted to “liberaltarianism” or, a more recent variant, Tyler Cowen’s conversion to “state capacity libertarianism“. Most of those departing to the left have mentioned the failure of...

Dynamic and static interpretations of regression coefficients (wonkish)

Dynamic and static interpretations of regression coefficients (wonkish) When econometric and statistical textbooks present simple (and multiple) regression analysis for cross-sectional data, they often do it with regressions like “regress test score (y) on study hours (x)” and get the result y = constant + slope coefficient*x + error term. When speaking of increases or decreases in x in these interpretations, we have to...

Democratizing Money – a discussion

Democratizing Money – a discussion | Michael Hudson Your access to this site has been limited Your access to this service has been temporarily limited. Please try again in a few minutes. (HTTP response code 503) Reason: Exceeded the maximum global requests per minute for crawlers or humans. If you are a WordPress user with administrative privileges on this site please enter your email in the box below and click "Send"....

Politically Motivated Attempts to Own or Disown China as “Capitalist” — Peter Cooper

There are often attempts in the west to depict China as capitalist rather than socialist. After decades of China going from strength to strength on macroeconomic criteria – and in view of its undeniable achievement in reducing poverty at a rate unmatched in recorded human history – some on the right wish to deny that this could have been accomplished through socialism and so instead claim China to be capitalist. At the same time, there are...

NY manufacturing, Market cap concentration, Private equity

Looks somewhat like the 2000 buildup: Private equity most often includes substantial new debt:

Minsky Explains Financial Instability

Michael Stephens | December 10, 2019 In this rare video from 1987 (there is very little surviving footage of Minsky discussing his work), Hyman Minsky summarizes his theory of the financial fragility at the heart of modern capitalist economies: [embedded content] This was part of an event in Bogotá, Colombia (which is discussed in this working paper by Iván D. Velasquez)....

Summers on secular stagnation, the ISLM, and the liquidity trap

Two short clips from Lawrence Summers talk at the ASSA meeting in San Diego. So he first says that secular stagnation is more plausible now than before. He sees that it can be explained as a shift of the IS curve backwards. His IS has a somewhat marginalist foundation, with a natural rate, and a fairly conventional story for investment. Of course, the negative shift has bee compensated by some sort of stimulus, that is now weaker. I would...

PARABLE for the New Decade

By J.D. ALT With the essential collapse of the U.N. Framework Convention on Climate Change in Madrid (“Climate meeting goals go unmet” Washington Post, 12-16-19) we now approach the first day of 2020 with much less to celebrate, much more to fear, and much more to accomplish. Here’s a little parable for the coming New Decade: “One evening of a December day 2019, several observatories in the International Asteroid Warning Network are startled...

Top 15% of taxpayers should fill NHS funding gap, think tank suggests

New Economics Foundation (NEF) proposes levying £11.1bn for NHS through reform to National Insurance Contributions (NICs) By abolishing the Upper Earnings Limit on NICs, top 15% of taxpayers will pay their fair share for our health system NEF calls for increased investment in preventative measures to ensure a more efficient health system in the future The New Economics Foundation (NEF) today proposes a radical, progressive tax change to...

Politically Motivated Attempts to Own or Disown China as “Capitalist”

There are often attempts in the west to depict China as capitalist rather than socialist. After decades of China going from strength to strength on macroeconomic criteria – and in view of its undeniable achievement in reducing poverty at a rate unmatched in recorded human history – some on the right wish to deny that this could have been accomplished through socialism and so instead claim China to be capitalist. At the same time, there are...

How Far Can We Push This Thing? Some Optimistic Reflections on the Potential For Economic Experimentation

Readers are probably aware that there is quite a lot of discussion of Modern Monetary Theory (MMT) and the potential for fiscal experimentation batting around at the moment. Others have weighed in on this already, and I have little to add. It is striking, however, that most of the push-back — where there is push-back — is not focused on trying to discredit the idea that we should engage in fiscal experimentation. Indeed, the notion that we...

Towards the Derivation of the Cambridge Equation with Expanded Reproduction and Markup Pricing

I have a new working paper. Abstract: Does the Cambridge equation, in which the rate of profits in a steady state is equal to the quotient of the rate of growth and the savings rate out of profits, hold in an economy with widespread non-competitive markets? This article presents a multiple-good model of markup pricing in an attempt to answer this question. A balance equation is derived. Given competitive conditions, this model can be used to...

Who Pays the Corporate Income Tax? Don’t believe the IFS

The AssertionEven before Corbyn launched the Labour Manifesto, the Institute of Fiscal Studies launched its critique of Labour tax policies, asserting that Labour’s proposed tax increases were not limited to the richest,:"The truth is of course that in the end corporation tax is paid by workers, customers or shareholders so would affect many in the population".  On the BBC Shadow Chancellor John McDonnell politely rejected the IFS...

My review of Robert Clark’s book on Canada’s prisons

Robert Clark has written a very good book about Canada’s prison system. Mr. Clark worked from 1980 until 2009 in seven different federal prisons, all located in Ontario. The book is a compilation of personal accounts based on the author’s various assignments. Since prisons can be a pipeline into homelessness, I’ve reviewed the book with great interest. My review is available here. Nick Falvo is a Calgary-based research consultant. He has...

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For a public sector job guarantee

My Lords, I think I am the only macroeconomist contributing to this debate, which is perhaps rather odd as it is a debate on economic affairs. As instructive and important as the other contributions have been, I want to talk about economic policy, because unless the economy works a lot better than it has in the last 10 years, none of the spending pledges, to be quite honest, will be worth the paper that they are written on, and how well it...

Towards the Derivation of the Cambridge Equation with Expanded Reproduction and Markup Pricing

I have a new working paper. Abstract: Does the Cambridge equation, in which the rate of profits in a steady state is equal to the quotient of the rate of growth and the savings rate out of profits, hold in an economy with widespread non-competitive markets? This article presents a multiple-good model of markup pricing in an attempt to answer this question. A balance equation is derived. Given competitive conditions, this model can be used to...

False Choice

By James Kwak The scene: Two well-dressed, fully employed people sitting at a table in the chic café at their workplace. Martha: Do you like your health plan? George: I love it. Martha: How much do you pay for your plan? George: About $550 per month.* Martha: Do you have a deductible? George: I have a $1,000 deductible for my whole family. Martha: What about co-payments? George: I have to pay 20% of the cost for hospital stays and outpatient...

Ancora sul MES: La verità o bugie?

Pubblichiamo intervista di Daniele Capezzone per il quotidiano La Verità.La Verità. Intervista al professor Cesaratto Pubblicato da DANIELEil16 DICEMBRE 2019 Sergio Cesaratto è professore ordinario presso il dipartimento di Economia politica dell’Università di Siena. E’ tra i 32 docenti universitari, prevalentemente di sinistra, firmatari dell’appello anti Mes di cui La Verità ha parlato per prima, e che poi è stato citato nell’Aula del...

Steve Keen on Keynes and Keynesianism

This is an older and short video in which Steve Keen is interviewed, and gives a short summary of Keynes’ economic ideas:[embedded content]An important issue is Steve Keen’s point that Neoclassical synthesis Keynesianism was a misguided and distorted development of the General Theory and Keynes’ later articles, even though Keynes did allow this to happen in Chapter 18 of the General Theory, where he played down the role of uncertainty (as had...

CfP: Dialogue on economics curriculum reform

Call for papers Dialogue on economics curriculum reform between Chinese and Western Scholars 15th WAPE Forum, Athens, 31 July to 1 August 2020 Dear Friend We cordially invite you to submit proposals for papers on curriculum reform and economics teaching, for a discussion at the forthcoming conference of the World Association for Political Economy (WAPE), which will be held in Athens from 31st July to 2nd August, and is hosted by the Greek...

CfP: Dialogue on economics curriculum reform

Call for papers Dialogue on economics curriculum reform between Chinese and Western Scholars 15th WAPE Forum, Athens, 31 July to 1 August 2020 Dear Friend We cordially invite you to submit proposals for papers on curriculum reform and economics teaching, for a discussion at the forthcoming conference of the World Association for Political Economy (WAPE), which will be held in Athens from 31st July to 2nd August, and is hosted by the Greek...

Open thread Jan 17, 2020

The economics of negative interest rates: editors’ introduction

Thomas Palley, Louis-Philippe Rochon, Guillaume Vallet , Review of Keynesian Economics, April 2019. The Great Recession (2008/9) triggered by the financial crisis of 2008 has had considerable impact on the conduct of monetary policy. Before the recession, monetary policy was largely based on a New Consensus-type macroeconomic model and it targeted inflation via a Taylor ...

After the climate denial, the inequality denial

In the wake of the denial of global warming, now on the wane, at least superficially, are we at present witnessing the denial of the rise in inequality? This is obvious in the case of the French government where all the efforts undertaken since 2017 appear to be guided by the idea that the country is suffering from a surfeit of equality. Hence the tax rewards for the wealthiest when the government came into office; hence similarly its...

Paul Krugman, Empire Man

Paul Krugman’s article, Trump The Intimidator Fails Again, published Jan 6th in The New York Times a few days ago, shows how he is a rank imperialist.Consider the following quote:America did many terrible things during its reign as global hegemon. But we clearly stood for global rule of law, for a system that imposed common rules on everyone, ourselves included. The United States may have been the dominant partner in alliances like NATO and...

Imagining a world without capitalism – Financial News

Anti-capitalists had a miserable year. But so did capitalism. While the defeat of Jeremy Corbyn’s Labour party in the UK this month threatened the radical left’s momentum, particularly in the US, where the presidential primaries loom, capitalism found itself under fire from some unexpected quarters. Billionaires, CEOs, and even the financial press have joined intellectuals and community leaders in a symphony of laments about rentier...