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real-world economics review issue no. 100 download whole issue Introduction to RWER issue 100          3 Real Science Is Pluralist           issue no. 5 – 2001Edward Fullbrook         5 Is There Anything Worth Keeping in Standard Microeconomics?          issue no. 12 – 2002Bernard Guerrien          11 How Reality Ate Itself: Orthodoxy, Economy & Trust          issue no. 18 – 2003Jamie Morgan          14 What is Neoclassical Economics?         issue no. 6 – 2006Christian...

The graph below has been constructed by economists of the European Central Bank. It’s based on national accounts data. It shows that present day inflation is profit driven, not wage driven. Money flows to profits, not wages. What does this mean for monetary, fiscal and income policy, taking some other aspects of inflation into consideration? Quite a lot. High central bank interest rates have a dual purpose. First, they are intended to show that central banks are serious. Let’s...

by New Deal democrat Weekly Indicators for June 27 – July 1 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. There was yet more deterioration this week, focused on the long and short leading indicators. But consumer spending still seems to be holding up. As usual, clicking over and reading should bring you up to the virtual moment about the economy, and bring me a little pocket change to buy lunch....

from Lars Syll Although I never believed it when I was young and held scholars in great respect, it does seem to be the case that ideology plays a large role in economics. How else to explain Chicago’s acceptance of not only general equilibrium but a particularly simplified version of it as ‘true’ or as a good enough approximation to the truth? Or how to explain the belief that the only correct models are linear and that the von Neuman prices are those to which actual prices converge...

Decelerating from post-Covid bounce expansion rates of growth: Decelerating but still at reasonably high levels: Decelerating from the post-Covid war fiscal consolidation but still positive:

from Dean Baker Last month I wrote a piece where I managed to mangle a very simple point. While the reported saving rate had fallen in April, it was actually due to people paying more capital gains taxes, not the result of households spending down savings. The issue here is straightforward. Saving is defined as the portion of disposable income that is not consumed. Savings can fall either because either consumption has increased, or disposable income has fallen. We are not seeing...

Hey, if you are not listening to this, you should be. It is more along the lines of “what did you know and when did you know it.” One of Mark Meadow’s assistants is reviewing what she knew with the committee.