Today was a beautiful day!

[unable to retrieve full-text content]I found a story in Saturday’s New York Times that I think epitomizes the crapification of higher education in the United States. It concerns the New School, where I taught at the graduate faculty from 1969 to 1972 (when it was still called the New School for Social Research). Sharon Otterman, “Facing Budget Troubles, Some Continue Reading The post New School University race to the bottom first appeared on Michael Hudson.

The good news on jobless claims continues  – by New Deal democrat The good news on jobless claims continued this week, as initial claims declined -12,000 to 201,000. The four-week moving average also declined, by -3,500 to 215,250. Continuing claims, with the usual one-week delay, declined -27,000 to 1.862 million: Needless to say, this also helped the YoY comparisons, which are more important for forecasting purposes. Initial claims are...

This is an excellent read if you have some time just to read. When they close facilities, there is an eerie feeling to the departure of people from a soon to be empty building. The people are gone, a silence envelops the place that hosted years of manufacturing product activity. Last man out turns off the lights. A building where the knowledge departed in the form of Labor. I have worked in these types of factories and consulted to them also....

The NGDP Fallacy Unveiled

Apparently, US PMG Louis DeJoy is taking a lot of heat about the continuing failure of the post office in reaching his detailed goals. Having not evolved from the Post Office, Louis is having a tough time implementing processes and procedures that may have worked to some extent in the public sector. Except the USPO is a completely different beast tasked with goals without regard for profitability. In other words, you still have to serve the areas...

Schuldenbremse — ein deutscher Fetisch [embedded content]

The 7th Godley-Tobin Lecture in a bit more than a week. For those not in Boston registration here.

Uncovering the Dark Side of Capitalism

Courage that will live on forever Seventy-nine years ago today, on February 22, 1943, Hans and Sophie Scholl — members of the resistance group ‘Die Weisse Rose’ — were killed by the Nazis. Courage is not anything very common, and the value we put on it is a witness to its rarity. Courage is the capability to confront fear, as when in front of the powerful and mighty, not to step back, but stand up for one’s rights not to be humiliated or abused in any way...