As usual, 26 January has been marked by protests, denunciations of those protests, and further iterations. Even apart from the fact that it marks an invasion, the foundation of a colony that later became one of Australia’s states isn’t much of a basis for a national day. A logical choice would be the day our Federation came into force. Unfortunately for this idea, our Founders chose 1 Jan 1901. The first day of the 20th century[1] must have seemed like an auspicious choice for a...

This statement/tweet isn’t exclusively true:MAGA will do whatever, but tariffs are taxes we pay on imports. It's time media outlets called them that. https://t.co/OZnlnS5YvU— Dean Baker (@DeanBaker13) January 26, 2025 the foreign entities can simply lower their import prices in USD terms and access these foreign USD account balances as source of USDs to pay any new tariffs: 

In analysis, it’s helpful to simplify and focus on the core elements of a system. Today, we will identify the essential processes and structures required to create a functional bank, accompanied by diagrams to illustrate these key processes.New Wayland BlogA Framework for a Basic BankNeilW

If you enjoyed this video, you might also like my most popular video, "Don't Study Economics, Study THIS Instead." https://www.youtube.com/watch?v=oO7iCv_NsPE -- Who is Dr. Steve Keen? Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as a university student, he has been engaged in a David vs. Goliath battle against conventional economic models. Holding a Ph.D. in economics, Dr. Keen is...

Figure 1: The Demand for Labor1.0 Introduction Wages and employment are not determined in competitive markets by the interaction of well-behaved supply and demand curves, as portrayed in much introductory economics. At least, no reason exists to thinks so. Every once in a while I like to recall that this is an implication of the Cambridge Capital Controversy. 2.0 Technology Consider a very simple competitive capitalist economy in which corn and iron are produced from inputs of labor,...

It’s definitely not what most people think. 

Στο ΠΡΙΝ (18-19/1/2025) δημοσιεύθηκε η ελληνική απόδοση της εισήγησης μου σε στην ολομέλεια του 17th WAPE Forum (Αθήνα 2-4 Αυγούστου 2024) με θέμα «Η συμβολή του Β.Ι.Λένιν στην Πολιτική Οικονομία». Ο Λένιν ως πολιτικός οικονομολόγος[embedded content] [embedded content] Δες αυτό το έγγραφο στο Scribd...

A 2019 profile of Stephen Marglin in the Harvard Crimson. William Morris, the author of News from Nowhere, wrote the Manifesto of the Socialist League. David O'Connell explains, in Jacobin, that Catholic orthodoxy is quite radical on the economy. Jack London's How I became a socialist.

Here we go.

I have been working in Manila this week as part of a ‘knowledge sharing forum’ at the House of Representatives which was termed ‘Pathways to Progress Transforming the Philippine Economy’ that was run by the Congressional Policy and Budget Research Department, attached to the Congress (Government). I am also giving a presentation at De La Salle University on rogue monetary policy. It has been a very interesting week and I came in contact with several senior government officials and learned a...