The common belief is that economic growth is a straightforward path to prosperity. This notion is wrong because it ignores the complex dynamics of debt and credit. When we chase growth without understanding the underlying financial structures, we end up in a cycle of increasing debt. Think of it like a balloon. You can keep inflating it, but if you don’t pay attention to the pressure, it will pop. In the 1920s, the U.S. experienced a roaring economy fueled by excessive...

MMT.Daily KosAn Economic program for Kamala that will benefit everyone, and win the Presidency in November! John Rudden

Why most economists don’t know what they’re doing As a subject, economics seems to have a fear and disgust of thinking about philosophy and methodology that might be described as Freudian. While other social scientists’ obsession with minute discussions of their methods and rhetoric, standards of proof and what they hope to achieve might be thought of as pathological in another way, the economists’ determination to sideline methodological discussion has...

About ten years ago, we had 22 solar panels installed on the roof of our St. Louis house. Half the cost was paid by Ameren, the electric utility, and we got a 30% tax rebate on the balance. But even with reversible metering, we hadn’t made back our cost when we sold the house two years ago. At that time, ours was among only about a half-dozen homes in our neighborhood with rooftop solar. Here in Rumford RI, there are at least twice as many.California...

 – by New Deal democrat In the paradigm popularized by Prof. Edward Leamer 20 years ago, motor vehicle sales are the 2nd domino to fall, after housing, in the procession of sectors that turn down prior to recessions. I haven’t updated this in a while, so let’s take a look. As an initial matter, the cycle in this sector was particularly hard hit by supply chain kinks during the pandemic, as electronic parts in particular were not produced at...

There should not be political issues with or in healthcare. Healthcare is a social responsibility to be brought to all people in this nation without regard to citizenship. Yet we still find many citizens resistant to healthcare availability. And why should there not be? If they are sick, why not cure them so as to prevent the spread? Healthcare is not a privilege; it is a right for every person who walks this nations grounds. The following to...

It Doesn’t have to.” make people sick. Elizabeth Allen of Vera Institute of Justice talks to one prison head Michael Capers. To get visitors, meant a prisoner would have a chance to buy snacks out of the visitor vending machines. If you ever go, bring a couple of rolls of quarters to feed the machines. The prisoner will be grateful. At level ones and twos, a prisoner can stand on the line and point to a treat they might want. A smart level 4...

from Dean Baker The effort to bring back manufacturing jobs has been a major theme in the 2024 election. Both parties say they consider this a high priority for the next administration. However, there is a notable difference in that the Biden-Harris administration has actively supported an increase in unionization, while the Republicans have indicated, at best, neutrality if not outright hostility towards unions. This distinction is important in the context of manufacturing jobs. Many...

Sahra Wagenknecht — a pro-Russian Leninist Wagenknechts Verteidigung der russischen Diktatur entspringt nicht nur den üblichen antiwestlichen Reflexen. Ihre vergifteten Forderungen nach einem vermeintlichen Frieden durch Unterwerfung sind nicht nur Ausdruck ihrer antifreiheitlichen Vorstellungen. Beides hängt eng mit ihrer ideologischen Nähe zum russischen autoritären Staat unter Putin zusammen. Das strategische Kalkül besteht darin, Russland als...

Economics: The Dangerous Cult.