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

A further step in developing dual circulation, that is, a balance of exports and domestic consumption.ECNS (Chinese official English news service)China announces further steps to unleash rural consumptionGlobal Times (Chinese state-sponsored media)

Mostly a consideration of Adam Smith's position on slavery.Global InequalityWhy slave-owners never willingly emancipated their slaves?Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Stone Center on Socio-economic Inequality, senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International Peace

Only Western reporters can answer how an increase in revenue is a ‘decline’ or a ‘weakening’, especially when export volumes are steady.Seriously, do the maths. New WaylandMMT Verify: is there pressure on the Russian Economy?NeilW

Some people apparently need to know only one thing. I have to learn every day.

The US Bureau of Labor Statistics released the latest US inflation data last week (August 10, 2023) – Consumer Price Index Summary – which showed that overall monthly inflation to be 0.2 per cent and mostly driven by housing. And, once we understand how the housing component is calculated then there is every reason to believe that this major driver of the current inflation rate will weaken considerably in the coming months. The rent component in the CPI has been a strong influence on the...

The economic consequences of tax cuts for the rich 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...

Minsky: Taming Complex Economic Systems

The dangers of idealizing randomization In his history of experimental social science — Randomistas: How radical researchers are changing our world — Andrew Leigh gives an introduction to the RCT (randomized controlled trial) method for conducting experiments in medicine, psychology, development economics, and policy evaluation. Although it mentions there are critiques that can be waged against it, the author does not let that shadow his overwhelmingly...

Missed this analysis on Friday. July producer prices: economic tailwind weakens, but still in place  – by New Deal democrat Normally I don’t pay too much attention to the producer price index, but because the steep decline in producer prices has been such a boon to businesses, and a big tailwind for the economy as a whole, whether that continues or not is important. And in July, the deflationary pulse generally continued. While final...