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Watch this (30 seconds long): The truth will out: George Bush speaking about Russia and Ukraine The truth is out about Iraq, and it will eventually out about Ukraine. The worst thing about this video is the fawning complicit response of the audience which speaks volumes about elite US society. Please share. P.S. Another 30 […]

from Peter Söderbaum I am a professor emeritus with many years of experience of the functioning of university departments of economics and other social science disciplines, such as business management. As has already been made clear I consider the close-to-monopoly position of neoclassical theory at university departments of economics as a major problem in relation to aspirations of sustainable development. The two “facts” that (a) values are necessarily involved in research and education...

from Steve Keen Thomas Kuhn once famously described textbooks as the vehicle by which students learn how to do “normal science” in an academic discipline. Economic textbooks clearly fulfil this function, but the pity is that what passes for “normal” in economics barely deserves the appellation “science”. Most introductory economics textbooks present a sanitised, uncritical rendition of conventional economic theory, and the courses in which these textbooks are used do little to counter...

Source: Forbes

from Lars Syll What guarantee is there … that economic concepts can be mapped unambiguously into mathematical concepts? The belief in the power and necessity of formalizing economic theory mathematically has thus obliterated the distinction between cognitively perceiving and understanding concepts from different domains and mapping them into each other. Whether the age-old problem of the equality between supply and demand should be mathematically formalized as a system of inequalities or...

2008 type of collapse: Lowest ever: Saudi OSPs are still at premiums to fair market value, and the price trend is still up. If it keeps going all heck breaks loose: The President threw the strategic petroleum reserve at it, and lots of other nations did the same, to no avail. And the calendar spreads in the futures market is indicating absolute spot shortages:

 by New Deal democrat Weekly Indicators for May 9 – 13 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. One measure of how the Russia-Ukraine war has been “normalized” globally, is that industrial commodity prices have declined sharply – on the order of 25% – in the past two weeks, taking back their entire sharp increase at the start of hostilities. Meanwhile, the Treasury yield curve has “normalized” somewhat more...

Οι Εκδόσεις ΚΨΜ, με χορηγό επικοινωνίας το Greek News & Radio Florida, παρουσιάζουν το βιβλίο Πιάνοντας τον Ταύρο από τα Κέρατα: Αιτίες, Συνέπειες και Προοπτικές στην Πολιτειολογία και στην Πολιτική Οικονομία του Νικόλαου Λάου (https://kapsimi.gr/). Η εκδήλωση θα λάβει χώρα στο Αμφιθέατρο «Ιωάννης Δρακόπουλος» του Κεντρικού Κτηρίου του Πανεπιστημίου Αθηνών στα Προπύλαια, είσοδος από την οδό Ρήγα Φερραίου, την Τρίτη 17 Μαΐου 2022, ώρα 7:00 μ.μ. Ομιλητές: κ. Νίκος...

from Luiz Alberto Vieira and current issue of RWER Introduction The current moment seems favorable to debate and potential reconsideration of theoretical systems, a situation derived both of developments in the analysis of public financing and the nature of money, but also, largely, due to the particular political and social circumstances observed in many countries. US hegemony is in crisis, as its industrial might decreases and is put in question by China’s development. The Asian country...