Every year, I bring to the attention of readers of my blog, the results of the latest Credit Suisse Wealth Report. It is produced by economists Anthony Shorrocks (with whom I graduated at university), James Davies and Rodrigo Lluberas. It is the most comprehensive study of global personal wealth and inequality between adults around the world. "Wealth" implies ownership. This is the size of the ownership class globally.Michael Roberts Blog — blogging from a marxist economist1.2% of adults...

Economics needs system engineering revolution

"Military Keynesianism." (article by Jan Taporowski, Professor of Economics and Finance, SOASVisiting Professor of Economics, University of Bergamo, and Professor of Economics and Finance, International University College)Weapons and StrategyLook Out: Ukraine Will Cost More than Half a Trillion More if the War Ends Tomorrow—Will US Voters Support More Huge Outlays?Stephen BryenAlsoBarbara Ehrenreich was a remarkable writer and thinker. Her book, Blood Rites: Origins and History of the...

Science Fiction When I was growing up, there as not a time when I did not have a book in my hands and reading. One of my favs was science fiction, another was the Civil War, and then the classics. I stumbled upon a short story about futuristic fighter pilots. The issue to the story being it was an even battle between to waring nations. No one could gain the upper hand as computers determined the tactics only to be countered by other computers. One...

THE BIGGEST LIE EVER TOLD TO US

AB: The link below the chart developed by Josh Bivens is to find subsidies or funds granted to towns, cities, counties, and states under the American Rescue Plan Act. For example, one small city i live in was granted $6.7 millions to which they wish to apply for an eight-mile water pipeline to an area northwest of the city. It is for new construction rather than improving the infrastructure they already have in place. Mind you, we are living on the...

Fed’s “remedies” are a failure so they change the rules to make it look like it’s working.

from Lars Syll Given the lack of consensus in existing empirical analyzes and the difficulties of making causal inferences from macro-level panel data analyzes, it remains an open empirical question how cutting taxes on the rich affects economic outcomes. We believe the question is best answered by looking at the effects of major tax cuts packages, as the story of taxing the rich in the advanced democracies over the past 50 years is one of discrete and stark changes in policy … Our...

Weekly Indicators for August 14 – 18 at Seeking Alpha  – by New Deal democrat [First of all, a reminder: I am on vacation for the next week, so don’t expect daily posts, especially if no significant economic data is released.] My Weekly Indicators post is up at Seeking Alpha. While collapsing commodity prices have buoyed the shorter term leading indicators, the renewed increase in interest rates has made the long leading indicators even...

I am in the final stages of moving office and it has been a time consuming process. And one of my regular research colleague, Professor Scott Baum from Griffith University, who occassionally provides blog posts here, sent me some research which he had written up in blog post form and with time short today, here is Scott’s latest guest spot. Today he is going to talk about a new analysis of financial insecurity that we are currently doing.William Mitchell — Modern Monetary TheoryThe growing...