[unable to retrieve full-text content]RADHIKA DESAI: Hello and welcome to the 10th Geopolitical Economy Hour, the fortnightly show in which we discuss the political and geopolitical economy of our times. I’m Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson. RADHIKA DESAI: And as last time, we have once again with us today, Professor Mick Dunford, professor emeritus at Sussex Continue Reading The post Achieving by Undermining first appeared on Michael Hudson.

A week ago, this commentary by Bill McBride was up on Calculated Risk. A bit of history dating back to 2001. A very timely post and one which fits in with what was happening today with the National Debt. Take note of who was pushing less stringent regulation, tax cuts, etc. It will pay for itself! What Happened to “Paying off the National Debt”? (calculatedriskblog.com, Bill McBride At the turn of the millennium, the concern was that the US...

I should have plaque on the wall of some hospitals stating I was there and we (the hospital) made out like bandits. Some of the procedures and meds they do and give me are not in your average Tylenol category. Not much I can do about it. Merril at GoozNews posted this exposé on how the pricing for physicians is set and to which there is no outside attendance. If you do attend, you sign an agreement not to reveal information. If you are wondering...

Why Krugman and Stiglitz are no real alternatives to mainstream economics Little in the discipline has changed in the wake of the crisis. Mirowski thinks that this is at least in part a result of the impotence of the loyal opposition — those economists such as Joseph Stiglitz or Paul Krugman who attempt to oppose the more viciously neoliberal articulations of economic theory from within the camp of neoclassical economics. Though Krugman and Stiglitz have...

As Perry Mehrling has recently argued in his intellectual portrait of economic historian Charles Kindleberger, the true undergirding continuity of international finance were not inter-governmental arrangements about national currencies, but the interlocking balance sheets of private finance stretched between the City of London and Wall Street. These made the Bretton Woods system increasingly unworkable by the late 1960s but they also ensured that the end of the system in the early 1970s did...

The deal is much better than I expected for Democrats, and much worse for Republicans (preliminary summaries by Dayen and Stein).  Of course, the whole thing was destructive and pointless and the deal is bad in the way one would expect – it includes work requirements for some food stamp and TANF recipients.  On the plus side, these requirements are crafted to limit the number of people affected while letting the Republicans claim a “win”. Over the...

Still requires approval but current form would suspend until January 2025 … after next presidential election… good riddance…For the curious, here’s the part on how the suspension of the debt limit will work.TLDR: Treasury will again be able to use measures to delay hitting the debt ceiling come 2025. https://t.co/tZY41wWvWY pic.twitter.com/mkNsCUvi04— Justin Slaughter (@JBSDC) May 28, 2023

from Lars Syll We are all realists and we all — Mäki, Cartwright, and I — self-consciously present ourselves as such. The most obvious research-guiding commonality, perhaps, is that we do all look at the ontological presuppositions of economics or economists. Where we part company, I believe, is that I want to go much further. I guess I would see their work as primarily analytical and my own as more critically constructive or dialectical. My goal is less the clarification of what...

Three years after the Civil War ended, on May 5, 1868, the head of an organization of Union veterans — the Grand Army of the Republic (GAR) — established Decoration Day as a time for the nation to decorate the graves of the war dead with flowers. Maj. Gen. John A. Logan declared it should be May 30. It is believed the date was chosen because flowers would be in bloom all over the country. The first large observance was held that year at...

Two articles here, each on the same topic about extreme wealth going untaxed or taxed less than those in lower income brackets. The first story is about a letter sent to World Economic attendees sent by a bunch of millionaires. The second story is about historian and correspondent Rutger Bregman having a moment at Devos in 2019. Rutger claims he delivered a blast about taxes. If you listen to the clip, it sounds like he had a conversation with them....