Publications Buying back better How social housing acquisitions in London can tackle homelessness and help councils avert bankruptcy By Alex Diner, Sam Tims, Abi O'Connor 12 March 2024 Download...

Background Assumption #1: Voting is an affirmative action. You have to be willing to do it. When I say, “if it’s raining, I’m not going to waste my time voting for Joe Biden and Tammy Murphy,” it will not change the outcome of the Presidential or, probably, even the New Jersey Senate election. But the turnout will be lower than a sunny day would be. Similarly, “if it’s only drizzling, I’ll probably vote for Andy Kim, at which point I might as...

The title of the post should be "The Trouble with Economics." Words. The point is well-taken.The Radford Free PressThe Trouble with WordsPeter Radford

The Untold Story of Financial Success

from Dean Baker Peter Coy used his column yesterday to beg President Biden not to use the term “greedflation” to explain the runup in inflation since the pandemic. I am sympathetic to much of his argument, most importantly, the idea that corporations suddenly turned greedy is a bit far out. As Coy notes, corporations are always greedy. The real question is whether something unusual was going on with corporate profits in the pandemic. There clearly was an increase in profit margins in the...

‘New Keynesian’ unemployment — a paid vacation essentially! Franco Modigliani famously quipped that he did not think that unemployment during the Great Depression should be described, in an economic model, as a “sudden bout of contagious laziness”. Quite. For the past thirty years we have been debating whether to use classical real business cycle models (RBC), or their close cousins, modern New Keynesian (NK) models, to describe recessions. In both of these...

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Table 1: Lower Rate of Profits Around A Switch Point Traditional Marginalist Story'Perverse' Marginalist StoryTraditional Austrian StoryNegative real Wicksell effect, greater net output per workerPositive real Wicksell effect, smaller net output per workerLonger economic life of machineLonger economic life of machine'Perverse' Austrian StoryNegative real Wicksell effect, greater net output per workerPositive real Wicksell effect, smaller net output per workerShorter economic life of...

AB: Part 2 of a now three-part series. If you had to read anyone about the ACA and healthcare, Andrew Sprung is the person to read. His detail is impeccable. And that is why he is here, being featured at Angry Bear. Originally published at xpostfactoid, Andrew Sprung What were the effects of de facto repeal of the individual mandate and establishing a parallel market of medically underwritten health plans? This post is Part 2 of an...

The Economic Case for Socialism