Neoliberalism is a political economic philosophy consisting of two claims, one economic and the other political. The economic claim is laissez-faire is the best way to organize economic activity as it generates efficient outcomes that maximize well-being. The political claim is free markets promote individual liberty. This article argues both claims are problematic. The evidence […]

So both the (inverted) yield curve and the Sahm rule indicate a recession. This together with two months of slower employment creation, and the slightly higher unemployment rate, has many wondering whether the economy will crash soon. I discussed before -- a while ago, before the pandemic recession, that had nothing to do with the yield curve -- why an inverted yield curve doesn't necessarily mean a forthcoming recession. The Sahm rule, like the inverted yield curve has an impressive track...

Yes, I get occasional commentaries from this substack. No, I am not going to post it all here. Follow the link after you read what I did post of Claudia Sahm’s here. Labor market conditions. – by Claudia Sahm Tomorrow (9/6) is the jobs report for August 2024. There is intense attention for any clues on the direction of the U.S. labor market, particularly with the Fed set to begin cutting rates in a few weeks and concerns about a possible...

Main Street Gets Left Behind.

Skogskyrkogården — A Masterpiece of Landscape Architecture .[embedded content] Skogskyrkogården, located in the southern suburbs of Stockholm, Sweden, is one of the most iconic cemeteries in the world. Designed by the renowned Swedish architects Gunnar Asplund and Sigurd Lewerentz, it is a UNESCO World Heritage Site and a masterpiece of modernist landscape architecture.

 – by New Deal democrat My focus continues to be on whether jobs gains are most consistent with a “soft landing,” i.e., no further deterioration, or whether there is further decline towards a recession.  For a change, this month the Establishment report was the weakest in several years, if still positive. Meanwhile the Household report rebounded for the month, but now shows an absolute decline in job holders YoY. Below is my in-depth...

The more debtors pay, the more they owe. This isn't just a catchy phrase. It's a harsh reality. Imagine trying to fill a bucket with holes. You pour in water, but it keeps leaking out. That's what happens when debtors try to pay off their debts in a deflationary environment. Each dollar they pay back becomes worth more. So, while they might reduce the number of dollars owed, the value of what remains skyrockets. It's like running on a treadmill set to a steep incline. You...

1.0 Introduction I would like to illustrate triple switching, in the corn-tractor model, with one of my one-dimensional diagrams. I have a triple-switching example, from Bertram Schefold, but the wage-rate of profit frontier is not visually striking in it. Such an example would not be worthy of a research paper. But perhaps I could modify a section of my recent working paper to submit somewhere. Besides, posing a new problem might motivate me to update my computing technology. 2.0...

A brief introduction by an Econofact News Letter exploring the impact of income on voting turnout. I did not include the explanation link information in this commentary as it would be too lengthy. However, the links are there if you wish to read further into this explanation. This is short enough to provoke a discussion as to why percentages of poorer voters do not turnout for elections. They have much to win in economic progress if the vote for the...

CNBC The plight of hotel workers in cleaning up after residents who stay for a few days and leave the room in a wreck. The pay id the minimum that can be made. The hazards are such a worker can become readily sick. from exposure. I am sure the pandemic caused issues. Plus, people do not tip the housekeeping staff. A couple of $dollars left on a night stand goes a long way. Another story on the plight of housekeepers which are mostly women....