HighlightsDegrowth and Modern Monetary Theory form a strategic symbiosis for addressing social and ecological crises Public spending on social and ecological objectives is not constrained by tax revenues or GDP MMT needs to incorporate ecological limits to production and productive capacityTargeted fiscal and monetary policies can ensure macroeconomic and price stability during a degrowth transition Policy priorities include a job guarantee, credit regulation, price controls, tax reforms,...

Don’t fade the producers.

Randomization-based vs. model-based inference .[embedded content]

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I think Democrats were probably right to refuse to bail out McCarthy.  The main reason is that this will likely prolong the current shitshow being staged by the House Republicans, which will help Democrats in 2024 by reminding voters just how crazy and exhausting the Republicans are.  The Republicans can’t do this often enough. The fact that McCarthy lied is a reason to oppose him, but a less weighty reason – what is the chance that his...

If it is not Medicare Advantage plans over-charges tapping into Medicare funds designated for the care of seniors, it is the commercial healthcare companies such as pharma this time and again. The political influence these companies wield with legislators and probably SCOTUS justices (later as companies sue and quickly levitate to a SCOTUS hearing) who are willing to take advantage as untouchables to practices of ethical behavior is seen in the...

from Lars Syll Many American undergraduates in Economics interested in doing a Ph.D. are surprised to learn that the first year of an Econ Ph.D. feels much more like entering a Ph.D. in solving mathematical models by hand than it does with learning economics. Typically, there is very little reading or writing involved, but loads and loads of fast algebra is required. Why is it like this? … One reason to use math is that it is easy to use math to trick people. Often, if you make your...

The Republicans that revolted against him are diehard fiscal hawks.

August JOLTS report: a pause in deceleration, but the trend remains intact  – by New Deal democrat Last month I concluded my post on the July JOLTS report’s sharp declines by noting that “None of these statistics move in a straight line, so it would be a mistake to project this report’s relatively big moves forward. But the trend clearly remains in place.”This month’s report for August showed that was the case, as all of the major metrics...

This post segués into being mostly about the Russian economy and specifically, the neoliberal versus "other" factions. The Putin government is mostly neoliberal economically. Gilbert Doctorow sees that as on the way out, which would be a good thing from the MMT point of view. The central bank head, Elivira Nabiullina, is the chief neoliberal and a diehard monetarist.Gilbert Doctorow — International relations, Russian affairsAre the talk shows on Russian state television just yes-men to...