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from Lars Syll The unpopularity of the principle of organic unities shows very clearly how great is the danger of the assumption of unproved additive formulas. The fallacy, of which ignorance of organic unity is a particular instance, may perhaps be mathematically represented thus: suppose f(x) is the goodness of x and f(y) is the goodness of y. It is then assumed that the goodness of x and y together is f(x) + f(y) when it is clearly f(x + y) and only in special cases will it be true...

What’s money? Wrong question. The right question: ‘which kinds of monies do we use for which purposes?’ as there are different kinds of money which are used for different purposes. Here, I want to stress that ‘receivables’ are: money. And are, at the moment, mainly used for inter-company purchases. The quarterly balance sheets (below) of Alphabet (formerly Google) show that, as of September 2020, Accounts Receivable had a value of almost 35 billion dollar. Accounts receivable are...

“Postal workers and allies to protest DeJoy’s Ten-Year Plan at BOG meeting, Save the Post Office, Steve Hutkins I missed this announcement at Steve Hutkins “Save The Post Office” blog. Apparently a large number of US Post Office supporters went to the Governor’s meeting and expressed their opinion on Postmaster Louis DeJoy’s plan to centralize sorting away from the neighborhood post offices. In effect, this action places a much larger burden on...

“Open thread Nov. 8, 2022 Election Day,” Angry Bear, angry bear blog.

Kindle edition $5.99   US UK DE FR ES IT NL JP BR CA MX AU IN paperback $14.99    US UK DE FR ES IT NL PL SE JP CA AU “The pressing need for alternative approaches in economics that is evident in the wake of the global pandemic, has also signalled an opening of space for the ideas and prescriptions of heterodox economics. This timely volume interrogates the rich diversity of the legacy of the heterodox economics, the institutional context and constraints that determine its influence,...

“Open thread November 4, 2022″ – Angry Bear, (angrybearblog.com).

Unemployment in the EU is still going down a little. But youth unemployment, a slightly more sensitive cyclical indicator, is rising. The most distinct geographical pattern behind the average: the combination of high levels of youth unemployment (>20%) with clear increases in Greece, Italy and Spain, even when total unemployment in these countries is still going down or stable. France shows a remarkable decline in youth unemployment but is still in double digit territory. Average...

I was part of a panel who responded to this question for The Guardian Here’s my response The economic situation facing the majority of Australian households is dire. However, the common framing of the problem in terms of the “cost of living” distracts attention from the real problem, which is the decline in the real purchasing power of wages. Having remained stagnant for years, wages have now fallen far behind inflation. Moreover, the average rate of tax paid is rising because of...

One of the successes of the right is their identification of the left with a sorry pastiche of ‘woke’. But the left is more than outspoken, individual awareness of the role of identities, however constructed and defined, whoever constructs and defines them and whatever role they plays in group dynamics of power and in- and exclusion. Which leads us to the question: What’s Left? I’ll state some points. Some points (many of which are related to social , economic and political in- and...

It seems highly likely that the Republican Party will win control of the US House of Representatives, and possibly also the Senate, next week. Unless the margin is so narrow that a handful of believers in democracy can tip the balance, that will mean the end of electoral democracy in the US for the foreseeable future. Most House Republicans voted to overturn the 2020 election. All (except a few who were on the way out) voted against the Electoral Count Act which is supposed to make...