Interesting post that deal with some of the same concepts as MMT but is not MMT. It's an interesting take. He has seen both sides, having grown up in a communist country (Yugoslavia). He is former hedge fund manager, commodities trader and author based in Monaco. He now blogs on geoeconomics and geopolitics at TrendCompass on Substack.Alex Krainer's TrendCompassUntangling the "socialism" vs. "capitalism" dichotomyAlex Krainer, The Naked Hedgie"For full disclosure, I do have a university...

Real Estate Market Lending Bubbles

Twenty fallacies of modern economics 11) To criticise/oppose the current mathematical modelling emphasis is to adopt an antiscience stance. It is not. Mathematics is not essential (or inessential) to science; science involves using tools that are appropriate to the given task. A science of economics is perfectly feasible, and the current emphasis on mathematical modelling in economics serves, given the nature of social reality, mostly to prevent that...

1.0 Introduction John Maynard Keynes had some amusing jibes against Marx, but does not provide any substantial argument against the theory in Marx's Capital. In fact, one can draw parallelisms between elements of Keynes' and Marx's theories. This post provides a brief start on justifications for these assertions. 2.0 Jibes Keynes' most explicit and most well-known statement about Marx is probably this: "How can I accept a doctrine which sets up as its bible, above and beyond criticism,...

Universities' Hidden Real Estate Agenda

History and some excellent up-to-date reporting by Prof. Heather cox Richardson I am sharing here as I subscribe to her Letters from an American. She explains the efforts of a few, a minority of political actors who are attempting to sway the opinions of Americans with their stilted dialogue promoting right-wing beliefs. It should be ignored. However it is . . . – Prof. Heather Cox Richardson Letters from an American In the past few weeks,...

In a keynote address to a conference on “Geopolitical Changes” at Kozminski University, Warsaw, on January 29, 2024, Professor James Galbraith called for economics to break with equilibrium dogma and re-found itself on the life principles that govern physics, biology and every existing mechanical and social system. Noting the distinguished presence of Professors Francis Fukuyama and E.S. Phelps, Galbraith called attention to the spectacular fallacies of “an end to history” and a “natural...

Chronological order. Randy Wray and Stephanie Kelton each make the list.Lars P. Syll’s BlogTop 25 Heterodox Economics BooksLars P. Syll | Professor, Malmo University

 – by New Deal democrat There’s no big economic news today, but yesterday existing home sales were released. While they have historically constituted up to 90% of the entire market, they have much less economic impact than new home sales, which involve all sorts of construction activity, followed by landscaping, furnishings, and other sales. Since the Fed started raising rates two years ago, the two markets have gone in entirely different...

Hal Singer at Lever News wrote a commentary explaining how banks (mostly) are upset with the Consumer Financial Protection Bureau capping credit card late fees at $8. One would think this covers every bank. It does not and only covers banks with more than 1 million card holders. Any bank or organization with less customers can avoid the new rule. And of course there are other exceptions. The new rule takes effect sixty days after being posted in...