“…whenever I am studying European data I think how stupid the European Monetary Union (EMU) is from a modern monetary theory (MMT) perspective.“ MMT Economist Bill MitchellMMT101.ORG - Learn Modern Monetary Theory (MMT)The Introduction of the Euro – A Catalyst for Eurozone Economic Decline?The Effects of the Euro: An Analysis from a Modern Monetary Theory (MMT) Perspective.Jim Byrne - MMT101.ORG

Solving a simple DP problem (student stuff) .[embedded content] In case you want to solve the problem yourself, here’s a Python script yours truly made (assuming the utility function is of the natural log kind and with some explicit numerical parameterization): import numpy as np import matplotlib.pyplot as plt # Parameters beta = 0.9 # Discount factor r = 0.1 # Depreciation rate T = 3 # Time horizon k0 = 4.0 # Initial capital # Production function:...

[unable to retrieve full-text content]“Congress is considering proposals that could change Medicaid financing and eligibility. “Some of these proposed changes could cause millions of people to lose access to care under Medicaid. People without coverage often skip necessary care, leading to worse health outcomes. For people in poor health, the results can be dangerous. “Cuts will put a greater […] The post GOP cuts to Medicaid will harm America’s health appeared...

[unable to retrieve full-text content]Even I am thinking of a recession as more and more people or Labor are being let go by the government. The layoff has expanded from just the government. Corporations are laying off people also. It is not like there was a huge decrease in business. Maybe companies believe they can be more efficient by […] The post Fixing Economic Inefficiency by Cutting Labor appeared first on Angry Bear.

[unable to retrieve full-text content]When you start reading this commentary, it consists of a series of purposeful misinformation statements. Some might call them lies. The people making them have nothing else, having a basis to add to this other make stuff up. The system works. Congress does not want to spend the money and fix it. For a small […] The post Another False Social Security Emergency appeared first on Angry Bear.

Best advice to an aspiring economist — don’t be an economist! A science that fails to reflect on its own history and neglects critical methodological and theoretical questions about its practice is a science in crisis. As early as 1991, a commission led by Anne Krueger—featuring esteemed economists such as Kenneth Arrow, Edward Leamer, and Joseph Stiglitz—highlighted a fundamental weakness in graduate economics education. Drawing from their own experiences,...

[unable to retrieve full-text content]Today’s Republican Party stands back and stands by in case we need to deal with the past. Have for years, now. For no good reason, it has aplenty the dumb as dirt, ignorant as a pig, mean and cruel, and corrupt members of Congress. Kentucky’s First Congressional’s best and brightest says it all. Mostly, they […] The post The Republican Party appeared first on Angry Bear.

Every few days I check my dormant eX-twitter account to see if there were any replies to old posts. A great series of questions showed up a couple of days ago.Neon Nova asks:Sandwichmann, would you consider yourself a follower of Dilke? What does Marx offer that Dilke doesn't? I know Marx revisits some of Dilke's ideas on leisure time, but do you think there are flaws in Marx's approach? Does Dilke ultimately surpass Marx in your view?I've noticed you've traced Dilke's views on leisure time...

[unable to retrieve full-text content]This certainly isn’t pro-life: “The Pregnancy Risk Assessment Monitoring System (PRAMS) is a federal data collection system, run out of CDC, “designed to identify groups of women and infants at high risk for health problems, to monitor changes in health status, and to measure progress towards goals in improving the health of mothers and infants,” […] The post The Trump/Musk Administration shuts down Pregnancy Risk Assessment...

[unable to retrieve full-text content]DOGE is claiming to have saved $55 billion so far. The NYT calls bullshit: “The math that could back up those checks is marred with accounting errors, incorrect assumptions, outdated data and other mistakes…. Some contracts the group claims credit for were double- or triple-counted. Another initially contained an error that inflated the totals by […] The post The fake economics of DOGE appeared first on Angry Bear.