The difference between logic and science That logic should have been thus successful is an advantage which it owes entirely to its limitations, whereby it is justified in abstracting — indeed, it is under obligation to do so — from all objects of knowledge and their differences, leaving the understanding nothing to deal with save itself and its form. But for reason to enter on the sure path of science is, of course, much more difficult, since it has to...

Altruism in the face of individualism

How we humans came to be where we are today had a lot to do with stability and the invention of calendars. Before stability, glaciers came and went. Best we and most other animals could do was run around looking for food and shelter. After the Last Glacial Period(LGP), aka as the Last Ice Age, weather patterns became more and more stable. Enough so that humans soon figured out that there was a pattern, an interconnectedness, to it all — all being the...

A Night at the Roxbury .[embedded content]

from Dean Baker In some really big news that is likely to get almost no media attention, Senator Bernie Sanders, the chair of the Senate HELP Committee, negotiated a deal with Bill Cassidy, the ranking Republican, on a package of amendments to the reauthorization of the nation’s pandemic preparedness law. While there are a number of items in the deal, a really big one is funding for a study to be done by the National Academies of Sciences, Engineering, and Medicine (NASEM) to consider...

David's work centers on the intricacies concerning the interactions of foreign exchange & capital flows with economic growth, fiscal & monetary policy, and distribution, whereby critical attention is paid to the notion of endogenous money. He also delves into the political economy of regional development to study patterns with respect to the nature of housing, social stratification, and community planning. He is based in Salt Lake City, UT, and writes for, and is an administrator of,...

Is money creation valuable?

The world is dividing into two blocs: a post-industrial US/NATO vs the Global MajorityPresident Biden has said that this war will be global in scope and will take many decades as it expands to ultimately isolate and break up China....Economist Jeffrey Sachs has also been warning of this impending war, cold or hot, for some time. See also Thucydides TrapMichael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismThe Looming War Against ChinaMichael Hudson | President of The...

Jason Smith is a physicist whose hobby is economics.Information EquilibriumMy eBooks are free this weekendJason Smith

Monetarists freaking out….  F’em….  ????The US government interest payments on the Federal debt are now higher than the annual defense spending.This is likely the initial stages of a trend, and if no solutions are implemented, other components of the fiscal agenda may soon be constrained by the escalating cost of… pic.twitter.com/hBY2haxNyG— Otavio (Tavi) Costa (@TaviCosta) July 20, 2023