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...

The Weekend Quiz – July 4-5, 2020 – answers and discussion

Here are the answers with discussion for this Weekend’s Quiz. The information provided should help you work out why you missed a question or three! If you haven’t already done the Quiz from yesterday then have a go at it before you read the answers. I hope this helps you develop an understanding of Modern Monetary Theory (MMT) and its application to macroeconomic thinking. Comments as usual welcome, especially if I have made an error....

IPA’s weekly links

Guest post by Jeff Mosenkis of Innovations for Poverty Action Professor Lisa Cook explains that black and white inventors put in equivalent numbers of patent applications once in 1899, and never again.  First, a great webinar by Professor Lisa Cook, former economic advisor to President Obama, among many other accomplishments, on how lynchings, violence, and discrimination caused African-American inventions (measured by patent applications) to...

40 Things I’ve Learned in 40 Years

I turn 40 years old today. Since I hate birthday presents I figured I’d pass along some of the presents people have taught me over the last 40 years.  1) Always try to be a good person. This is the most obvious one and also often the hardest one. Life is hard and everyone is fighting their own personal battles. Help them through it by being kind enough to try to understand their battle. 2) Never mistake money for wealth. The person who...

July 24 Society For Chaos Theory In Psychology And Life Sciences Conference (Continued)

This continues to the final day the schedule for the virtual 30th SCTPLS conference, registration due July 6 at societyforchaostheory.org/2020/conf .Friday, July 248:00-9:30 AMSession AOrlando Gomes, ISCAL, Portugal "Behavioral saving"Yuji Aruka, Chuo University, Japan "The evolution of exchange processes"Akio Matsumoto, Chuo University, Japan "Stability swtiching in Cournot duopoly games with three delays"Session...

‘Bullish’ takeaways from US jobs data

Britain was not “nearly bust” in March

"Britain nearly went bust in March, says Bank of England", reads a headline in the Guardian. In similar vein, the Telegraph's Business section reports "UK finances were close to collapse, says Governor":Eh, what? The Governor of the Bank of England says the UK nearly turned into Venezuela? Well, that's what the Telegraph seems to think: The Bank of England was forced to save the Government from potential financial collapse...

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...

Trumpism after Trump

Predicting election outcomes is always risky (for example, the People’s Action Party could lose the current election in Singapore), but life involves taking some risks. So I’m going to predict that Trump is going to lose in November, and lose badly*. He is far behind in the polls, substantially further than in 2016. More relevantly perhaps, the resurgence of the pandemic in Arizona, Florida and Texas has ended any chance that the economy will...

NAIRU — a non-existent unicorn

NAIRU — a non-existent unicorn In our extended NAIRU model, labor productivity growth is included in the wage bargaining process … The logical consequence of this broadening of the theoretical canvas has been that the NAIRU becomes endogenous itself and ceases to be an attractor — Milton Friedman’s natural, stable and timeless equilibrium point from which the system cannot permanently deviate. In our model, a deviation from...

Remarks from the Systematic Crises Triggered the Current Pandemic & Progressive Way-Outs teleconference

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The Deleted Clause of the Declaration of Independence — Kevin Kallmes

The removal of the anti-slavery clause of the declaration was not the only time Jefferson’s efforts might have led to the premature end of the “peculiar institution.” Economist and cultural historian Thomas Sowell notes that Jefferson’s 1784 anti-slavery bill, which had the votes to pass but did not because of a single ill legislator’s absence from the floor, would have ended the expansion of slavery to any newly admitted states to the Union...

Employment, Vehicle sales, Factory orders

New claims for unemployment comp remain at alarmingly high levels: Holding too steady at just under 20 million: Last month I noted that the “reopenings” would be a June story, and that is what this report suggests. In addition, companies using PPP had to rehire employees to convert the loans to grants. Unfortunately, the surge in virus infections and related closures, will probably negatively impact the July report. In addition, we will...

The Reserve Bank’s Pandemic Predicament

By Lekha Chakraborty and Harikrishnan S As the Reserve Bank of India Governor Shri Shaktikanta Das puts it upfront, these are extraordinary times, and we need to respond with “whatever it takes” to deal with the pandemic. Over the past few days, our hope for systematically “flattening the curve” by containing the COVID-19 pandemic and moving to a quick V-shaped or U-shaped recovery is waning[i]. Evidence is increasingly pointing towards the...

Policies for Prosperity

[embedded content] The webinar on Policies for Prosperity organized by LP Rochon, and with Tom Ferguson, Mario Seccareccia, and Anna Maria Variato. There was some glitchy at the beginning and Tom's talk was not recorded. Mine starts in minute 29.

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...

What fishing can teach us about working conditions in the UK

Blog What fishing can teach us about working conditions in the UK Fishing might seem like a unique job. But it's only the most extreme example of the dismal landscape facing workers. By Emily Scurrah 03 July 2020 2020 isn’t a good year for workers. But while grim...

Government Spending Comes First in a Sovereign Currency System

Modern Monetary Theory (MMT) makes clear that the spending of a currency-issuing government necessarily precedes tax payments and bond sales to non-government. This has important implications. It means that a currency-issuing government does not – and cannot – require revenue prior to spending. It means that it is government spending that makes possible the payment of taxes and non-government purchase of bonds, not the other way round. And it...

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...

A Fixed Capital System That Is Or Is Not Interlocked

I have defined patterns of switch points in considering perturbations of examples of the choice of technique. For example, I have defined three-technique and four-technique patterns. An obvious extension is to consider how these patterns arise in models of joint production. A simplification is to only consider models of fixed capital without superimposed joint production. This post lays out an example in which, maybe, some parameter values...

We can get killed…..

The following are my notes for a contribution to the debate on the post-Coronavirus economy held in the European Union’s parliament on 15 June, 2020. (The Parliament was largely empty as many MEPs were still shielding or self-solating from the pandemic. ) Other contributors included: Pierre-Olivier Gourinchas, Professor of Global Management, University of California, Berkeley, Daniela Gabor, Professor of Economics and Macro-Finance, Lex...

David Hulchanski class discussion

I recently participated in a panel discussion in David Hulchanski’s graduate-level social housing and homelessness course at the University of Toronto. Points raised in the blog post include the fact that all English-speaking countries of the OECD have relatively low levels of public social spending, relatively low levels of taxation, and serious affordable housing challenges. The link to the full blog post is here. Nick Falvo is a...

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...

A Fixed Capital System That Is Or Is Not Interlocked

I have defined patterns of switch points in considering perturbations of examples of the choice of technique. For example, I have defined three-technique and four-technique patterns. An obvious extension is to consider how these patterns arise in models of joint production. A simplification is to only consider models of fixed capital without superimposed joint production. This post lays out an example in which, maybe, some parameter values...

The Reserve Bank’s Pandemic Predicament

By Lekha Chakraborty and Harikrishnan S As the Reserve Bank of India Governor Shri Shaktikanta Das puts it upfront, these are extraordinary times, and we need to respond with “whatever it takes” to deal with the pandemic. Over the past few days, our hope for systematically “flattening the curve” by containing the COVID-19 pandemic and moving to a quick V-shaped or U-shaped recovery is waning[i]. Evidence is increasingly pointing towards the...

Sulla riapertura degli atenei

Da Micromega on line. Apertura atenei: adelante con juicio di Sergio Cesaratto Studenti e docenti sono ancora nell’incertezza circa la riapertura degli Atenei il prossimo settembre, e soprattutto circa “quale riapertura”. Se studenti e docenti risultano totalmente esclusi dalle decisioni, essi non appaiono peraltro unanimi nel merito. Gli atenei, a loro volta, sembrano procedere in ordine sparso, in ossequio al modello delle autonomie...

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...

‘Labour Process Theory: A Critical Reappraisal’ – S.Mavroudeas ICOPEC 2020, Marmara University, Istanbul

I was an invited speaker in ICOPEC 2020 (Marmara University, Istanbul http://www.icopec.org/) The subject of my presentation was ‘Labour Process Theory: A Critical Reappraisal’ Below follow (a) the abstract of my talk and (b) my voice powerpoint ICOPEC 2020 11th International Conference of Political Economy ‘Global Inequalities’ June 24-26, 2020, Marmara University, Istanbul ‘Labour Process Theory:  A critical reappraisal’ Stavros...

‘Labour Process Theory: A Critical Reappraisal’ – S.Mavroudeas ICOPEC 2020, Marmara University, Istanbul

I was an invited speaker in ICOPEC 2020 (Marmara University, Istanbul http://www.icopec.org/) The subject of my presentation was ‘Labour Process Theory: A Critical Reappraisal’ Below follow (a) the abstract of my talk and (b) my voice powerpoint ICOPEC 2020 11th International Conference of Political Economy ‘Global Inequalities’ June 24-26, 2020, Marmara University, Istanbul ‘Labour Process Theory:  A critical reappraisal’ Stavros...

Trump’s recent polling in retrospect

The betting markets and statistical models of the 2020 election suggest Trump is either likely or very likely to lose.  I have no reason to doubt this, but it is interesting to look back at the history of his approval ratings. Trump’s approval trended down throughout his first year in office, with low points in the summer (Charlottesville, Obamacare repeal) and winter (highly unpopular corporate tax cut).  He finished the year with approval...

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 ...

Confronting racism, repairing history

The wave of mobilisation against racism and racial discrimination poses a crucial question: that of reparations for a past history involving slavery and colonisation. This is an issue which has still not been fully confronted. No matter how complex the question may be, it cannot be eluded for ever, either in the United States or in Europe. In 1865, at the end of the Civil War, the Republican, Abraham Lincoln promised freed slaves that after...

Joan Robinson On International Trade In Times Of International Crisis

Nick Johnson has some good quotes from Joan Robinson’s book Freedom & Necessity — An Introduction To The Study Of Society from 1970.One for the current times, Chapter 9, The New Mercantilism, page 92:The national egoism of modern capitalism is clearly seen in the sphere of international trade. The capitalist world (except in a major war) is a buyer’s market. Productive capacity exceeds demand. Exports yield profits and imports (apart from...

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

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