Report on happenings in 2024 with some links. The Gower Initiative for Modern Money StudiesThe Gower Intitiative for Modern Money Studies newsletter – January 2025

[unable to retrieve full-text content]Prof Michael Hudson provides insight on the waning US power structure as short termism bites. He explains how Labor internationally has become even more right wing than the conservatives. Another fascinating discussion. The post US Economic Colonialism On Notice first appeared on Michael Hudson.

[unable to retrieve full-text content]  RADHIKA DESAI: Hello and welcome to the 36th Geopolitical Economy Hour, the show that examines the fast-changing political and geopolitical economy of our world. I’m your host, Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson. RADHIKA DESAI: And working behind the scenes to bring you our show every fortnight are our host Ben Norton, Continue Reading The post The Secret of the Long March first appeared on Michael Hudson.

There’s been a recent fuss in various media arising from a tweet from economist Ben Golub regarding astonishment that economists haven’t “worked through” Smith and Marx. English professor Alex Moskowitz chimed in with a claim that economics can’t be a real discipline because economists don’t know the history of their own discipline. This claim is oversold as regards Smith. Every econ student gets the pin factory example of scale economies and the standard quote about the butcher,...

Trump plan to reduce “inflation!”…. 1.  Get energy production costs down (ie euthanize the “climate!” nutters) … 2. Reduce the policy interest rate (ie order the Fed to reduce FFR/IOR)…Nooooooooooobody right now thinking he can do any of this …[embedded content]

This is a good sign the Fed may be generally acquiescing to Trump admin policies….??Fed Announces Withdrawal from Global Climate Coalition. pic.twitter.com/xjSgOFPRwi— Update NEWS (@UpdateNews724) January 17, 2025

Today (January 17, 2025), MMTed releases Episode 10 in the Second Season of our Manga series – The Smith Family and their Adventures with Money. Have a bit of fun with it while learning Modern Monetary Theory (MMT) and circulate it to those who you think will benefit.William Mitchell — Modern Monetary TheoryEpisode 10 (S2) of the Smith Family Manga is now available – Coal Port Blockade but the progressives want to tax the richBill Mitchell | Professor in Economics and Director of the Centre...

Free market fairy nowhere in sight??

I have been using fluke switch points to partition parameter spaces into regions. In each region, the analysis of the choice of technique does not qualitatively vary. Fluke switch points have been discussed in the literature on the analysis of the choice of technique. Mostly, these mentions dismissal fluke cases, on the correct grounds that they only occur at an accidental point in the parameter space. Here is a statement from one contribution to the famous QJE symposium: "Cases with...

Donald Trump’ın Kasım 2024’teki ABD başkanlık seçimlerindeki zaferi, Ukrayna savaşını sona erdirmeye yönelik liberal senaryoyu yırtıp attı. Bu senaryo, Ukrayna’ya işgal altındaki Kırım ve Donbass topraklarını geri almak olarak belirtilen zafere ulaşana kadar koşulsuz maddi ve manevi destek sunmaktı. Trump’ın seçilmesinden önce bile senaryo, Ukrayna’ya Rusya ile barış görüşmelerinde mümkün olan en iyi pazarlık pozisyonunu vermek için “ne gerekiyorsa yapmak” şeklinde değişmişti. Bu...