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EconoSpeak

The Econospeak blog, which succeeded MaxSpeak (co-founded by Barkley Rosser, a Professor of Economics at James Madison University and Max Sawicky, an economist at the Economic Policy Institute) is a multi-author blog . Self-described as “annals of the economically incorrect”, this frequently updated blog analyzes daily news from an economic perspective, but requires a strong economics background.

Interpol Supports Murder Charge Against MbS

 In today's Washington Post David Ignatius reports that Interpol refused a request from Saudi Crown Prince Mohammed bin Salman (MbS) to extradite Saad Aljabri to Saudi Arabia from Canada in 2017. MbS had been trying to entice Aljabri to return and had arrested his children, who remain arrested despite complaints from the US government and basically the entire rest of the world. Aljabri was the top aide of MbS's rival, the former Crown Prince, Mohammed bin Nayef (MbN), who was overthrown by...

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The Disaster That Lebanon Has Become

It is now on the front pages with a massive explosion of over 2000 tons of ammonium nitrate in a warehouse near Beirut's port, with over 100 dead and thousands injured and possibly more than 300,000 displaced from their homes.  Juan Cole reports that this had been dangerously sitting there since 2013, when it was moved off the Moldavan Rhosus, where it was apparently unsafely loaded after having been on its way to make fertilizer in Mozambique. But thanks to entrenched corruption and...

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Team Trump on Susan Rice as Biden’s Running Mate

Next to Joe Biden, Susan Rice may be the most qualified person to lead our nation back from the utter disaster created by our allowing Donald Trump to pretend to be our President. So what is this from the camp of the Liar-in-Chief? Trump’s aides and allies accuse Rice — without delving too deeply into the evidence — of helping cover up crimes for two of the president’s favorite foils, Barack Obama and Hillary Clinton, making her just the kind of "deep state" villain who could fire up his...

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From the archives: “The Source and Remedy of the National Difficulties”

 With a minimum of editing or preface, I am reposting this one from February 2009. Next year will be the bicentennial of the publication this astonishing but undeservedly obscure pamphlet. One "event" that I am conducting to celebrate the anniversary is posting of around 65 questions that I have mined from the text. I hope that there will be others but that sort of depends on gathering a critical mass of audience.  How is it that notwithstanding the unbounded extent of our capital, the...

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How To Measure Quarterly Changes In GDP Can Make A Big Difference

We have had dramatic headlines and commentary in recent days since the BEA issued its initial estimate of quarterly changes in GDP, which they do not officially measure on an shorter time period. This is a measure of the average GDP in one quarter compared to the average GDP in the next quarter.  Looking at Q1 of this year and Q2 of this year, they reported the largest quarterly decline ever recorded, -32.9% on an annualized rate, about -9.5% on a quarterly rate. This is a sharper decline...

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Is The Latest Apparent Economist Suicide A Sign “Economics Is A Disaster”?

On July 23, 41-year-old Emmanuel Farhi, Professor of Economics at Harvard, a native of France with Egyptian Jewish ancestry, "unexpectedly" died a few hours after having a Zoom conference on how economics and economists can help the world (or something like that) with fellow Frenchmen, Nobelist Jean Tirole and former IMF Chief Economist Olivier Blanchard.  No one has officially given a cause of death, but the entire internet has decided that it was a suicide, with a long thread with over 800...

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Goodbye To The Last True Georgist Economist: Mason Gaffney

Mason ("Mase") Gaffney died on July 26 in Redlands, CA of Covid-19 at age 96.  He was both a great guy as well as arguably what the title to this says: "the last true Georgist economist," with such economists being followers of Henry George, whose 1878 book, Progress and Poverty, was the best-selling book on economics in the US during the 19th century.  George was a journalist who ran unsuccessfully for Mayor of New York.  His book, drawing on influences from Quesnay and Ricardo, advocated...

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A Republican Idea for Onshoring Pharmaceutical Intangible Assets

Alex Parker reports on a proposal from Representative Darin LaHood: As part of the next round of pandemic relief, House Republicans are pushing new incentives for companies to bring home offshore intellectual property — something that they contend could boost job growth but that critics see as another corporate giveaway … While the 2017 Tax Cuts and Jobs Act overhauled the federal tax code and eliminated many of the incentives for offshore income-shifting, it left the structures themselves...

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Managing A Zoom Conference

As of the end of this week I completed chairing the 30th annual international conference of the Society for Chaos Theory in Psychology and Life Sciences, with 54 participants from around the world.  It basically went well, and it was kind of cool to make introductory remarks at 8 AM during EDT, with somebody on at 6 AM their time in Montana and someone else on at 10 PM their time in Sydney, Australia.  It can be done, and even with parallel sessions happening.Of course there were the usual...

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