Lucas critique and the modularity assumption Prima facie modular systems seem very special. But a number of authors suppose that modularity is the hallmark of causality … I have two objections to the usual claims about modularity. First, it is not a hallmark of causality. Recall the Phillips curve, a canonical example of a non-modular causal connection – one that, à la Robert Lucas, breaks down under attempts to manipulate the cause (inflation) to control...

Richardson has a post-election analysis up at her substack blog. Some money grafs:“In Virginia, Governor Glenn Youngkin campaigned hard to flip the state senate to the Republicans, telling voters that if his party had control of the whole government he would push through a measure banning abortion after 15 weeks. This has been a ploy advanced by Republicans to suggest they are moderating their stance on abortion, and Youngkin appeared to be trying out...

This post echos another quotation from somebody who understands something about how rewards are distributed under capitalism. "In every other country capitalism, competitive and monopolistic, displays the same defects and applies similar political and economic remedies in order to save its life from the new revolutionary attacks of socialism and communism. Regarded more narrowly from my own standpoint of criticism, what has occurred is a display and condemnation of the unequal and unfair...

Kapitalismus made in USA .[embedded content]

Where was Dalio, Gundlach, Paul, Tudor Jones? 

Publications A taxing problem Reforming business rates in England By Lukasz Krebel, Alfie Stirling, Sarah Arnold 09 November 2023 Download the report...

.[embedded content]

Vad har vi för glädje av ekonomer? .[embedded content]

For the record, a MTT promo piece on the "left." Daily Kos MMT and the Deficits That MatterBethesda 1971

From a comment thread over at jabberwocking.com:“For a party that’s always on suicide watch according to the pollsters, Democrats sure have been winning a lot of elections these past six years.”