By T. Sabri Öncü & Ahmet ÖncüIn Memory of David Graeber (1961–2020)This article first appeared in the Indian journal, Economic and Political Weekly, on 21 November, 2020On 30 March 2020, the United Nations Conference on Trade and Development (UNCTAD) called for a $2.5 trillion COVID-19 crisis package for developing countries.[1] The UNCTAD...

Figure 1: Wage Frontier for a Fixed Capital Example This post presents a perturbation of parameters in a 'one good' model of fixed capital. The coefficients of production differ from those in this reswitching example. But the model has the same structure. Consider a one-commodity economy in which labor and widgets are used to produce new widgets, the only consumption good. (The use of the term 'widget' to designate the single produced commodity emphasizes how unrealistic this model is.)...

Yanis Varoufakis is one of the world's most famous economists and left-wing intellectuals. The former Finance Minister of Greece, he is a Greek politician, the founder of the Democracy in Europe Movement (DiEM25) and launched the Progressive International with Bernie Sanders. We had a lot to talk about: the European and the US left, Keir Starmer, Joe Biden, the pandemic, the economic crisis, fascism, the EU, the climate emergency.

Scott Sumner has more questions.Maybe he should try trading Treasuries. He might discover something.The Money IllusionA –> B –> C, Does A imply C?Scott Sumner | Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason UniversityAlso from SSIn Thanksgiving Message, Trump Says ‘We’re Like a Third-World Country’Can't argue with that.Trump concedes I was right all along

Mass of Christian Burial for Richard "Dick" Dean Baker

Primera conferencia "Piketty: Capitalismo y desigualdades" como parte del ciclo de conferencias Thomas Piketty y el desarrollo del capitalismo "La desigualdad es ideológica y política"

Maradona was more than just an extraordinary footballer. He was also a complicated social icon. That further distinguishes him from other footballers, though Pele also has some of that… He was both rewarded by and terribly exploited by the system. The system treated him like a “race horse”. They wanted him to play at all cost and pumped him with drugs. They did not care about the physical and psychological costs to him. That contributed to his addiction … He came from great...

The Resolution, already adopted by the United Nations General Assembly on December 18, 2019, was approved by the Third Committee with 122 votes in favor, including the votes of Russia and China, two permanent members of the Security Council.Only two members of the United Nations voted against it: The United States (a permanent member of the Security Council) and Ukraine.The other 29 country NATO members, including Italy, certainly due to an internal directive, abstained. So did the 27...

"Our guys."Informed CommentHyper-Patriarchal Saudi Arabia equates mild Feminism with Terrorism, as Sen. Murphy calls on Biden to review ties with KingdomJuan Cole

The levies come roughly three months after Beijing began investigating complaints made by the Wine Industry Association of China that Australian winemakers have flooded the market with cheap wine since 2015. Mainland China is an $850 million market for Australia’s wine exports and the leading consumer, consuming about 40% of Australia’s total overseas shipments....FortuneChina slaps 200% anti-dumping tariffs on Australian wine as relations continue to sourEamon Barrett