Samuelson's Surprising Neoclassical Paradigm Take

My problem with Michel Foucault, then, is not that he seeks to “move beyond” the welfare state, but that he actively contributed to its destruction, and that he did so in a way that was entirely in step with the neoliberal critiques of the moment. His objective was not to move towards “socialism,” but to be rid of it … In addition to the “dependency” it supposedly creates, Foucault believes that social security ultimately serves mainly the affluent. Thus, in a 1976 interview,...

Less is more — the process of elimination .[embedded content]

Medicaid’s Coverage Role in Small Towns and Rural Areas – Center For Children and Families (georgetown.edu) First time, I have done an interactive chart. I have to figure out how to enlarge the chart. I will figure it out in time. Enjoy for now and maybe you can find where you live on the small map. If you go to Georgetown Center for Children and Families site, you will get a better map perspective. As the title says this is for Metro, towns,...

Asymptosis » Actually, Only Banks Print Money, Steve Roth I’m thinking this headline will raise some eyebrows in the MMT community. But it’s not really so radical. It’s just using the word money very carefully, as defined here. Starting with the big picture:  You can compare the magnitude of these asset-creation mechanisms here. (Hint: cap gains rule.) The key concept: “money” here just means a particular type of financial instrument,...

[unable to retrieve full-text content]Hudson interview with Robinson Erhardt, September 26, 2023. Michael Hudson: Neoliberalism, Industrial Capitalism, and the Rise of Debt | Robinson’s Podcast #180, Robinson: I’m from Chicago, and when I saw that you went to the University of Chicago Lab School, which I know quite well, and then the University of Chicago, which I also know quite Continue Reading The post Comparing Feudal to Financial first appeared on Michael Hudson.

I’ve been working a bit on inflation and the highly problematic concept of the ‘cost of living’ (shorter JQ: what matters is the purchasing power of wages, not the cost of some basket of goods). As part of this, I’ve been looking at how particular prices have changed over time, focusing on basics like bread and milk. One striking thing that I found out is that, until quite late in the 20th century, the standard loaf of bread used to calculate consumer price indexes in Australia...

The Left's Taboo: Debt Cancellation

I guess this is the latest installment in my soft landing series. However, it might also be a warning of terrible trouble in the fairly near future (next 5 years). It is certainly proof (if more were needed) that I am clueless. The topic is the US housing market. This is highly related to the (possible) soft landing as one important surprise is that residential construction has held up in spite of high mortgage interest rates. The question for...

December jobs report: consistent with a “soft landing,” despite discordance in household data  – by New Deal democrat My focus remains on whether jobs gains are most consistent with a “soft landing,” i.e., no further deterioration, or whether deceleration is ongoing; and more specifically:  Whether there is further deceleration in jobs gains compared with the last 6-month average Whether the unemployment rate is neutral or decreasing; or...