Tag Archives: Uncategorized

Maybe stabilizing? Post-Covid bounce followed by a dip from the post-Covid cuts in fiscal spending, but no recession yet: A bit of a slowdown but no recession here yet:

After reading her contemporary Alfred Marshall, reading Rosa Luxemburg (born in Poland, 1871-1919) is a joy. The clarity of the prose, the consistence of the arguments, the sheer knowledge of events and facts. She backed an anti-imperialist socialist agenda coupled with – no, based upon – differences of view and discussion in combination with cultural and linguistic diversity. In my view, she would have backed the growth of international food supply chains binding Ukraine, Russia, Turkey...

No recession yet: Income and consumption not yet indicating recession:

from Dean Baker The Inflation Reduction Act includes a remarkable innovation. Share buybacks will be taxed at a 1% rate. This is a huge deal, not only because it taxes money that was often escaping taxation at the individual level, but it is a move away from basing the corporate income tax on profits, which can be easily manipulated, to taxing returns to shareholders. It is time for a major and simple overhaul of the corporate income tax system. The main problem with the current system is...

from Peter Radford Taking a short break from my crusade to get information taken more seriously in economics … Yesterday’s Financial Times includes, on page 9 of the print edition, one of its regular “Market Insights” columns.  This is the space the FT allocates to sundry financial market types to opine on subjects of general interest to other financial market types.  It’s always a good read if you want to gain insight into how our magnificent financiers talk to themselves whilst...

Back to slow growth: At least so far, the post-Covid spike has been nearly reversed. We’ll see where it goes from here: Post-Covid bounce reversed, still above 50 which signals modest growth:

Earlier this year, I wrote a piece in defence of presentism, discovering just before I posted, that the same title had been used (also this year) by David Armitage, Professor of History at Harvard. It was good to know that I wasn’t alone, but as Armitage made clear, “presentism” has been “a term of abuse conventionally deployed to describe an interpretation of history that is biased towards and coloured by present-day concerns, preoccupations and values”. A fairly standard version...

from Lars Syll The model is not . . . how one determines the soundness or otherwise of a mathematical proof; it is, rather, how one determines the reasonableness or otherwise of entries in a crossword puzzle. . . . The crossword model permits pervasive mutual support, rather than, like the model of a mathematical proof, encouraging an essentially one-directional conception. . . . How reasonable one’s confidence is that a certain entry in a crossword is correct depends on: how much support...