Debunking the balanced budget superstition .[embedded content] The balanced budget paradox is probably one of the most devastating phenomena haunting our economies. The harder politicians — usually on the advice of establishment economists — try to achieve balanced budgets for the public sector, the less likely they are to succeed in their endeavour. And the more the citizens have to pay for the concomitant austerity policies these wrong-headed politicians...

Ernst Wigforss — konsten att häva en depression I det senaste avsnittet av podden Vi bygger landet presenteras och diskuteras Ernst Wigforss bidrag till arbetarrörelsens kamp för full sysselsättning och den ekonomiska politiken. Väl värt att lysssna på! Ernst Wigforss kunde som Sveriges finansminister under stora delar av mellankrigstiden och de tidiga åren efter andra världskriget bidra till att omvandla Sverige till en modell för socialdemokratin genom...

Trump is never going to stand for this and will go to war with the Democrat Fed monetarist morons… The bond market is now pricing in just one 25 bps rate cut by the Fed in all of 2025. Back in September six 25 bps rate cuts were expected.https://t.co/l5IYmkf6Ih pic.twitter.com/syX4RcqQaP— Charlie Bilello (@charliebilello) December 19, 2024

Blog Top 9 NEF highlights of 2024 Celebrating all the successes of this year 20 December 2024 2024 marked another busy year for NEF. We were joined by our new chief exec Danny Sriskandarajah in January, and just five months later watched a new party take control of the government for the first time in 14...

Publications NEF review of the year 2024 Highlights from the last 12 months 20 December 2024 Download the report As I come to the end of my first year at NEF and the end of another tumultuous year for the UK and the world, I have been...

from Lars Syll Pretending that the distribution of income and wealth that results from a long set of policy decisions is somehow the natural workings of the market is not a serious position … Pretending that distributional outcomes are just the workings of the market is convenient for any beneficiaries of this inequality, even those who consider themselves liberal … But we should not structure our understanding of the economy around political convenience. There is no way of escaping the...

How inequality causes financial crises One way that inequality precipitates debt bubbles begins with “relative deprivation.” This concept concerns the discontent people feel when they compare their socio-economic status, measured by income, wealth, consumption, or other indicators of perceived economic welfare, with that of their richer counterparts. Economists have suggested several ways that this discontent may translate into indebtedness. One theory...

Podcasts What are we getting wrong about tax Ayeisha Thomas-Smith is joined by Sara Hall and Hannah Peaker By Ayeisha Thomas-Smith 19 December 2024 Last week hundreds of tractors drove through Parliament Square. It was the latest protest by UK...

1.0 Introduction Broadly speaking, the history of political economy contains two approaches to value and distribution. For purposes of this post, I do not distinguish between classical and Marx's political economy. Institutionalists and those who know about German historical schools, for example, might have a complaint about being ignored. This post is quite unoriginal. I thought I would just record these properties of two approaches. 2.0 Marginalism Marginalist economics is about the...

Cui honorem honorem — Gisèle Pelicot .[embedded content]