Busting the natural rate of unemployment myth Almost sixty years ago Milton Friedman wrote an (in)famous article arguing that (1) the natural rate of unemployment was independent of monetary policy and that (2) trying to keep the unemployment rate below the natural rate would only give rise to higher and higher inflation. The hypothesis has always been controversial, and much theoretical and empirical work has questioned the real-world relevance of the idea...

With corrupt crypto king Sam Bankman-Fried as its most prominent representative, the Effective Altruism movement is not particularly popularly these days. And some other people associated with the Effective Altruism movement have bizarre and unappealing ideas. But the worst form of ad hominem argument is “someone bad asserts p, therefore p is bad”[1]. Whether under this name or not, most economic research on both welfare policy and development aid takes the premise of effective...

from Norbert Häring Shortly after it has become known that hackers are offering the identity data of most Indians from the world’s largest digital identity database for sale, the European Parliament and Council have agreed to introduce something similar for Europeans, while Washington praises the Ukrainian version as an export model and Bill Gates wants to impose a biometric digital marker on every newborn child in Kenya for life. In early October, IT security...

Have a Happy Thanksgiving

Why ignore the planet?

For the record. Short.Real ProgressivesFinding the Money: A ReviewBrad Sandler

This talk is going around again and it is getting louder and louder. 

Don't you think it's time for a revolution?

[unable to retrieve full-text content]  GLENN DIESEN: Welcome to today’s program. My name is Glenn Diesen. I’m a professor at the University of Southeastern Norway. With me is my colleague Alexander Mercouris from the very informative and popular Duran. The guest today is none other than the excellent Michael Hudson, a very renowned economist. He’s written brilliant books, which Continue Reading The post Understanding America’s Post-Industrial Economy first...

Arne in an earlier post this morning commented; “The ruling by Judge Wallace in Colorado that trump engaged in insurrection has not been discussed in another posting yet. If he is legally the instigator, is he guilty of manslaughter?” A Colorado judge on Friday (17 November) found that former President Donald Trump engaged in insurrection during the Jan. 6, 2021, attack on the U.S. Capitol but rejected an effort to keep him off the state’s...