Industrial production improves, with help from vehicle production: travelin’ man edition  – by New Deal democrat Industrial production increased 1.0% in July. Its manufacturing component increased 0.5%. Total production is still down -0.6% from its peak last autumn, while manufacturing is down -01.%: These are not recessionary numbers.  It’s worth emphasizing that the unspooling of pandemic related bottlenecks is significantly affecting...

1.0 Introduction I have decided that this previous post is inadequate. If intensive rent exists on some type of land, the system of equations for prices of production cannot include a process that only partially cultivates some other type of land producing the agricultural commodity. So to form an example with both intensive and extensive rent, I need the technology to specify the possibility of cultivating at least three types of land. I might as well include markup pricing so as to...

Will a high dose of Ivermectin for 6 Days impact Covid? As a biochemist, I find the argument of a lack of mechanism for Ivermectin as a justification for prescribing it for COVID particularly pernicious. While it is correct to say that we didn’t know the mechanism for aspirin for decades after we knew it worked (one could say the same about the smoking and lung cancer), that’s not a logical basis for prescribing a drug. The gold standard is a...

TANSTAAFL. There Ain’t No Such Thing as a Free Lunch. Someone pays, somehow. The standard textbook example is pilots who refill their plane at a gas station that offers them a “free” steak dinner while charging five cents a gallon more than another station at the same airport. The pilot and co-pilot get $50 dinners for free, the gas station gets an “extra” $150 for the gas sold, and everyone is happy. I believe this story is better at...

“The statement received pushback from environmentalists concerned that constructing new infrastructure to transport more fossil fuels will allow more oil to be extracted and burned, contributing to climate change. “Appeals court strikes down Utah oil railroad approval, siding with environmentalists,” msn.com. Additionally, communities in neighboring Colorado including Eagle County and the city of Glenwood Springs — which filed a brief in support...

Engineering Degree is better than Economics's one...

Basically the problem is that our whole planet has been gamified. All the Earth’s life, resources and geography have been folded into this sick game where people commodify them into points called money, for no other reason than to score as many points as possible.Read in conjunction with the MMT analogy of money as points on scoreboard in a game.CaitlinJohnstone.comDe-Gamify The EarthCaitlin Johnstone

Neil shows how it is necessary to understand accounting along with institutional arrangements and their effects.New WaylandStructural Deficits Are DeflationaryNeilW

The paradox of tolerance Culture, identity, ethnicity, gender, and religiosity should never be accepted as a basis for intolerance in political and civic aspects. In a modern democratic society, people belonging to these different groups must be able to rely on society to protect them against the abuses of intolerance. All citizens must have the freedom and right to question and leave their own group. Against those who do not accept this tolerance, we must...

from this Nature editorial . . . income inequality within countries is rising, as measured by the Gini index, a measure of income distribution across a population. Globally, in the 15 years to 2019, economic output in terms of gross domestic product (GDP) roughly doubled, but the share of economic output earned by the workers producing the goods and services behind the increase fell from 54.1% in 2004 to 52.6% in 2019. So what has gone wrong? Between 2019 and 2020, the COVID-19 pandemic...