A Dynamic Vision for a Better Society

This article is not about MMT as such or even economics, but rather social psychology. It may explain to some degree both opposition to MMT in the face of evidence and also the appeal of monetarism in the face not only of evidence but also fiancial losses sustained from trading on monetarist assumptions. It is also of interest to contrarianism.TL/DNR version:The study’s findings were striking in their similarity to [Soloman] Asch’s original results. In the non-incentivized group, the average...

Weekly Indicators for December 4 – 8 at Seeking Alpha  – by New Deal democrat My Weekly Indicators post is up at Seeking Alpha. The coincident data keeps getting better and better, while interest rates remain very negative. The question, as it has been for months, is whether those interest rates finally case the short leading indicators to roll over. As usual, clicking over and reading will bring you up to the virtual moment as to the...

This makes sense unless you want to hang around the airport for a while to catch another flight to Cleveland or Toledo. If you are observant, there is another route into Canada. All that is missing is an express to Chicago. Amtrak proposal would link Detroit, DTW, Toledo, Cleveland | Crain’s Detroit Business, crainsdetroit.com, Anna Fifelski The latest revision to Amtrak’s Cleveland, Toledo, Detroit/Pontiac corridor proposal now includes a...

Mobileländet i svensk skola I en debattartikel i Aftonbladet idag lyfter Tidöpartierna baksidorna med att tillåta mobiltelefoner i skolan. Efter att ha varit ute och besökt en rad skolor under några veckors tid kan yours truly inte låta bli att fundera över saker man skulle vilja ändra och förbättra. Och en och annan undran kan man ju också kosta på sig. Som t ex varför vi i vårt land inte följt det franska beslutet att totalförbjuda mobiltelefoner i...

 Secondo articolo sui danni collaterali della politica monetaria pubblicato su Il Fatto quotidiano del 23 ottobre 2023 Danni collaterali del rialzo dei tassi: quel sussidio italiano alle banche tedesche Sergio Cesaratto* Oscar Wilde aveva ragione nel cogliere un aspetto melodrammatico nella politica monetaria. Al centro dell’attenzione c’è ora la politica della BCE di rialzo dei tassi di interesse, la sua efficacia sull’inflazione, i suoi costi in termini di reddito e occupazione....

  E' tempo di riavviare questo blog. Posto due pezzi simili usciti qualche settimana fa, il primo su Lavoce.info Per saperne di più qui  Danni collaterali del rialzo dei tassi Sergio Cesaratto* La BCE e le altre maggiori banche centrali stanno erogando alle banche commerciali un considerevole flusso di interessi sulle cospicue riserve bancarie che esse hanno accumulate negli anni del quantitative easing (QE). Nella zona euro al tasso corrente del 4% su €3.587 miliardi (al 20/10/2023)...

.[embedded content]

I read Karl Polanyi's The Great Transformation: The Political and Economic Origins of our Time years ago. I find its thesis on the first passage of the first chapter: "Nineteenth-century civilization rested on four institutions. The first was the balance-of-power system which for a century prevented the occurrence of any long and devastating war between the Great Powers. The second was the international gold standard which symbolized a unique organization of world economy. The third was...

Toward the end of a very interesting and worthwhile conversation about how right-wing “populism” co-opts righteous anger at established institutions, Vincent Bevins asked Naomi Klein how she would counter that co-optation. Her answer was to advocate a “real left that has a political program that is actually redistributive,” which sounds good until you realize that the capitalist economy is already massively redistributive so “redistributing the...