Socialdem. 21st Century

She is interviewed by Dave Rubin here:[embedded content]I have to admit that I don’t know much about Deirdre McCloskey, but on the basis of this interview, she strikes me as an absurd pro-free market ideologue.Let’s take a couple of the points raised in this video:(1) she claims that the original arguments in favour of the minimum wage were to exclude blacks, immigrants and women from the labour force. I have no idea if this is correct, but let’s assume it is. She then jumps to a pathetic...

Another interesting interview with L. Randall Wray, on “imagining economics” in an age of Stein, Clinton, and Trump, from a few months ago:[embedded content]Realist LeftRealist Left on Twitter @realistleftRealist Left on RedditRealist Left BlogRealist Left on YouTubeLord Keynes on FacebookSocial Democracy for the 21st Century: A Realist Alternative to the Modern LeftAlt Left on the Internet:Alternative Left on FacebookAlt-Left on Google+Samizdat Broadcasts YouTube...

L. Randall Wray gives a great lecture here on Modern Money Theory, including the history of MMT:[embedded content]Realist LeftRealist Left on Twitter @realistleftRealist Left on RedditRealist Left BlogRealist Left on YouTubeLord Keynes on FacebookSocial Democracy for the 21st Century: A Realist Alternative to the Modern LeftAlt Left on the Internet:Alternative Left on FacebookAlt-Left on Google+Samizdat Broadcasts YouTube ChannelSamizdat: For the Freedom Loving...

L. Randall Wray, an MMT economist, gives a very interesting perspective on taxes:[embedded content]Certainly raising taxes in the midst of a depression, recession or period of weak aggregate demand and large-scale unemployment is a bad idea. But it is fascinating indeed to hear L. Randall Wray give the left heterodox case for lowering corporate taxes and payroll taxes. If I am not mistaken, some of these ideas on taxes discussed here are derived from the thinking of Hyman Minsky. While this...

Robert Lindsay has an interesting post here on the Alt Left.Realist Left (whose Twitter account is here) posted an excellent reply to this on the Alternative Left Facebook page, especially on the question of Marxism/Communism in the Alt Left:“A not-so-brief reply to Robert Lindsay, with regards to the role of Communists, Anarchists, Marxists, the ‘Left wing of the Alt-Right’, conservatives, etc. within the ‘Realist Left’ and ‘Alt Left’ in general (to the extent that we and I are a part of...

Steve Keen gives a talk below on “Teaching Economics the Pluralist Way,” which was given to the Amsterdam Rethinking Economics students in the Netherlands:[embedded content]Realist LeftRealist Left on Twitter @realistleftRealist Left on RedditRealist Left BlogRealist Left on YouTubeLord Keynes on FacebookSocial Democracy for the 21st Century: A Realist Alternative to the Modern LeftAlt Left on the Internet:Alternative Left on FacebookAlt-Left on Google+Samizdat...

To complement my post here, there is a year-by-year chronology of important events in Keynes’ life from 1925 to 1929, along with some other major political or cultural events of the time.Chronology of Keynes’ Life from 1925–19291925 3 January 1925 – Mussolini gives a speech in the Italian Chamber of Deputies; this marks the beginning of fascist dictatorship in Italy12 March 1925 – death of Sun Yat-sen (Premier of the Kuomintang of China 10 October 1919–12 March 1925), which leaves a vacuum...

I’m currently reading biographies of John Maynard Keynes, and based on my readings I give an account below of interesting biographical details about the life of John Maynard Keynes from 1926 to 1928. My sources are Moggridge (1992) and Skidelsky (1992).This post is very much a work in progress, which I may update and expand in the future.1926 By the mid-1920s, Keynes had become an international celebrity and had married Lydia Lopokova on 4 August 1925.On 9 February 1926, Keynes gave a speech...

My top 10 posts of all time:(1) “Debunking Austrian Economics 101 (Updated).”(2) “Post Keynesian Economics 101.”(3) “The Nature, Origin and History of Money 101.”(4) “19th Century Economic History.”(5) “Debunking Marxism 101 (Updated).”(6) “Keynesian Uncertainty 101.”(7) “Post Keynesian Price Theory 101.”(8) “The Natural Rate of Interest: A History and Critique.”(9) “UK Unemployment, 1870–1999,” February 25, 2013.(10) “Mises’s Explanation of the Great Depression: A Critique,” January 26,...

To follow up on my last post, the author of this blog points out that Japan from the mid-19th century to 1911 had no tariff autonomy but managed to lay the foundation of an industrial take-off from 1880 to 1920.This is true. Japan’s industrial development is an interesting subject. Japan’s rapid period of industrial take-off came after 1911, when its industrial production in mining, manufacturing, and chemical industries soared, and its GNP doubled from 1910 to 1930 (Sorensen 2002: 92). I...