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Embracing a Post-Capitalist Future

New Year, same old labor market deceleration  – by New Deal democrat This morning’s JOLTS report for November continued the same trend of labor market deceleration that we have seen since the blazing hot boom of 2021. Job openings declined -62,000 to 8.790 million, the lowest level since March 2021. Actual hires fell sharply, by -363,000 to 5.465 million, the lowest since the pandemic lockdown month of April 2020. Quits declined by -157,000...

In recent times, there has been a growing interest in institutionalist trends and research within economics. Traditional explanations and analyses have seemed to have little or no value. Abstract and unrealistic theories have increasingly been replaced by historically grounded ones. Institutional and structural elements in the economy are highlighted, replacing overly short-term and model-based variables. It is, therefore, not surprising that economists have become interested...

Unveiling the Hidden Power of Government Debt

Figure 1: Variation in the Maximum Wage and the Cost-Minimizing Technique with Time1.0 Introduction I thought I would revisit the application of my analysis of fluke switch points to an example of Harrod-neutral technical change. Two techniques are assumed to experience Harrod-neutral technical change. The same commodities are produced with both techniques. No capital goods are produced for one technique that are unproduced in the other. Consequently, the techniques have no processes in...

Introduction: Nice piece on how Americans are so tied to their gasoline powered cars, pickup trucks, etc. and the impact on cities and environment. What is key to this article and the author’s thought is this statement: “The obvious solution … lies only in a radical revision of our conception of what a city street is for.”  Where I live, the smaller city is 30 minutes away at 65 MPH (if they are doing such). If you drive faster, maybe you...

Strictly a copy and paste of the Senate Finance Committee Chair Senator Ron Wyden Committee Report. I can not add to this other than say, repeal the 2017 Tax Act. Interim Report: Big Pharma Tax Avoidance Senate Finance Committee Investigation Reveals Extent to Which Pharma Giant AbbVie Exploits Offshore Subsidiaries to Avoid Paying Taxes on U.S. Drug Sales. The Provisions in the 2017 trump Republican tax law allows AbbVie to generate most of...

Blog A New Year’s Resolution for our politicians? Rethinking government debt and borrowing rules We can't have a healthy climate or thriving public services without rethinking our fiscal rules By Dominic Caddick 03 January 2024 As we enter 2024,...

2024 is here. Here’s what’s going to happen this year.