– by New Deal democrat AB: July 3rd, NDd mentioned he would review the comparison between the Household and the Establishment Survey Reports today. He had initially look at the comparison July 3. In the past few months, my focus has been on whether jobs gains are most consistent with a “soft landing,” i.e., no further deterioration, or whether deceleration is ongoing. In particular:  Last month I wrote that “There is a common thread in the...

Biden has been slightly behind Trump in the polls for months.  Still, until now it was easy enough to discern a plausible path to victory.  Democratic voters disappointed with Biden would gradually return to the fold as the choice between Biden and Trump became clear.  Memories of inflation would fade.  Trump would say outrageous things.  A few decent breaks and Biden could pull it out. The debate has changed the math.  Biden has been badly hurt...

What got me going to write this was reading a short blurb on The Lever about the economy. The transcript was provided and I read part of it. The content is all about supply chain which I was a part of for 40-something years. I find The Lever script (link below) interesting as it parallels my experience. It may be boring to you. Some background Nineteen seventy-four was a pretty good year for my wife and I. Finished college after three years...

Here is a short video about our new book – Modern Monetary Theory: Bill and Warren’s Excellent Adventure – which will be published on July 15, 2024.William Mitchell — Modern Monetary TheoryModern Monetary Theory: Bill and Warren’s Excellent Adventure – PromoBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

by Tom Walker Econospeak Book proposal: Marx’s Fetters and the Realm of Freedom: a remedial reading — part 2.7 The revolutionary class “The working class is either revolutionary or it is nothing,” Marx wrote to German politician J.B. von Schweitzer and copied “word for word” in a letter to Engels. In The Manifesto of the Communist Party, Marx and Engels wrote “the proletariat alone is a really revolutionary class.” Marx cited that...

 – by New Deal democrat I’ll spare you the introductory graphs this month, but let me reiterate my opening comments from last month: I never used to pay much attention to the ISM non-manufacturing report. That is partly because it only has a 20 year history, and partly because it seems to be more coincident than leading, but because manufacturing has faded so much as a share of the US economy, with at least two false recession signal in the...

In a previous post, I called attention to the decline in the number of medical students who choose pediatrics as a career. Some of the slack can be taken up by nurses and physician assistants, but access to pediatricians is a growing problem.So, too, is access to pediatric care at hospitals:“Pediatric hospitals have been disappearing all across the country. During the decade before the COVID pandemic, data from the American Hospital Association survey...

Does free trade — really — benefit everyone? .[embedded content] Two hundred years ago, on 19 April 1817, David Ricardo’s Principles was published. In it, he presented a theory that was meant to explain why countries trade and, based on the concept of opportunity cost, how the pattern of export and import is ruled by countries exporting goods in which they have a comparative advantage and importing goods in which they have a comparative disadvantage....

Links und rechts — passt das Schema noch? Heute scheint unklarer als je zuvor, was das politisch überhaupt genau bedeutet, links und rechts. Die Unterscheidung hat zwar eine lange Tradition, die auf die Sitzordnung der verfassungsgebenden Versammlung in Frankreich im Jahr 1789 zurückgeht, wo die Royalisten rechts vom König Platz nahmen, die revolutionseifrigen Jakobiner hingegen links. Doch mit dieser Klarheit ist es lange vorbei. Und zwar auch deshalb,...

The following passage is from a 1993 New Left Review essay, "Political Ecology: Expertocracy versus Self-Limitation," by André Gorz. It is an argument for regenerating a norm of sufficiency as a political project. How much is enough and how can we build a popular consensus and movement around such a determination? Of particular interest to me, in the final paragraph Gorz mentions the "anonymous Ricardoite" along with John Maynard Keynes and Wassily Leontieff as examples of those who have...