The Pygmalion syndrome and the failings of modern economics As Lars Syll wrote here last month, too much of the profession “has since long given up on the real world” and is happy to investigate the “thought-up worlds” of unrealistic economic models. Too much attention is focused on how the parts of the model fit together, rather than on how well the models fit  with reality. But how can critics communicate these problems effectively? Especially to those...

[unable to retrieve full-text content]Apparently, there’s this weird, ahistorical conspiracy theory out there that the CIA is a leftist organization. Not only is there not an atom of evidence for this theory, there’s ample evidence of CIA involvement in destabilizing and overthrowing liberal and leftist governments in favor of right-wing dictatorships: Here’s a short list of CIA interventions in […] The post The CIA is a “leftist” organization? appeared...

[unable to retrieve full-text content]I spent many hours in airplanes flying to different countries or just other parts of the United States. Never gave it much thought as to safety as everything inside the plane was secure. We buckled up, grabbed a book to read, did some work, or slept for a few hours. Unknowingly, there has always been […] The post Flying in the United States and Globally appeared first on Angry Bear.

[unable to retrieve full-text content]“Johnson said he “wholeheartedly” agrees with Vice President JD Vance that courts shouldn’t try to control the president’s power as DOGE slashes through the federal government. “The courts should take a step back and allow these processes to play out,” Johnson said at the Capitol.” Pretty Boy Floyd. Al Capone. Bonnie and Clyde. All just […] The post Why didn’t John Dillinger think of that?...

Figure 1: The Wage Frontier for a Double-Fluke Switch Point This post is an expansion of a previous one. That post defines the technology and the price system for the three techniques conprising the technology. In Alpha, labor and corn inputs are used to produce corn. Beta and Gamma are more roundabout. In each, Labor and corn are first used to make a machine that lasts two years and can be used to produce corn each year. In Beta, the machine is discarded after being operated one year. The...

from Nat Dyer Readers of this blog will be well aware of the myriad problems with the mainstream economics that has dominated university and political life for the past few decades. As Lars Syll wrote here last month, too much of the profession “has since long given up on the real world” and is happy to investigate the “thought-up worlds” of unrealistic economic models. Too much attention is focused on how the parts of the model fit together, rather than on how well the models fit with...

[unable to retrieve full-text content]Ten Days later and I am just catching up on this. Typing on a new computer now, I was hoping to transfer all of my old files on to this one. Hard drive on the old one is limping along. I still do not have an update. Anyway, some Claudia Sahm to peak your interest. […] The post Boring Fed January 30th appeared first on Angry Bear.

[unable to retrieve full-text content]All The Litigation – by Joyce Vance Civil Discourse At least one federal judge isn’t intimidated by Trump cronies attacking federal judges who have ruled against the new administration during its first three weeks of operation. Those attacks have taken the form of Elon Musk posting that 1% of the constitutionally life-tenured jurists should be fired every […] The post District Courts Push-Back appeared first on Angry Bear.

[unable to retrieve full-text content]– by New Deal democrat There’s no new significant news until Wednesday, so let’s catch up graphically with a few important items from Friday’s employment report for January. As I wrote then, probably the most important developments weren’t in the monthly numbers, but rather the annual revisions to both the Establishment and Household Surveys.  For […] The post The Big Convergence: scenes from the January...

This is a follow-up to my previous post on the end of US democracy and its implications. Here I will discuss how what’s left of the democratic world can respond. Surprisingly in many ways, the military part of dispensing with the US is the easiest bit, in each of its major areas of operation: Europe, Taiwan, and the broader Asia-Pacific region including Australian and New Zealand. As regards Europe, NATO would be massively stronger with the US (100 000 troops in Europe)...