from Dean Baker The media are really going overboard in telling us the days of the free market are over with Biden’s new economic policies. President Biden has quite explicitly implemented policies intended to reshape the direction of the economy, pushing clean energy and more domestic production of advanced semiconductors and other products. He also has reinvigorated anti-trust policy, which was largely shelved by his predecessors. But the idea that the policies of the last four decades...

A girl like you .[embedded content]

Does it — really — “take a model to beat a model”? When we provide such a critique, we often hear another mantra to which many economists subscribe: ‘It takes a model to beat a model.’ On the contrary, we believe that it takes facts and observations to beat a model … If a model fails to answer the problem to which it is addressed, it should be put back in the toolbox … It is not necessary to have an alternative tool available to know that the plumber who...

A comment taken from Ken Melvin’s commentary “The Coup.” Ken Melvin discussing with JackD. Yeah. Sen, Whitehouse makes this distinction: In effect, there are three Federalist Societies. The first (Federal Society) one most lawyers know from law school. It is, for the most part, a debating society, made up of like-minded aspiring lawyers drawn to conservative ideas and judicial doctrine. They organize seminars and invite academics, and...

Public debt misconceptions

...That answer showed Chat understands the basics of MMT. I asked why it didn’t mention MMT until I did, and was it promoting artificial ignorance.The answer came back: “I apologize if it seemed that I was promoting artificial ignorance or neglecting the mention of modern monetary theory. As an AI language model, my purpose is to provide information and answer questions to the best of my abilities based on the knowledge I have been trained on. However, due to the limitations of text-based...

The same psycho behavior by the monetarists over and over again. It’s comical. 

The US Constitution was their best effort to answer the question, “How should it be?” Then, they were seeking a new and better way of governance. Now, some two-hundred-forty years later, a latter-day majority of Justices on the US Supreme Court, the one charged with interpreting the Constitution, are saying, “This is how it should be.” The one, asking; the other, dictating. Merely a matter of word order? Hardly. Whereas their focus was on getting the...

An important reason to read history is to gain a perspective on current events. If you watch exclusively mainstream media television, particularly Fox News, you might be forgiven for the belief that things in this country are the worst they have ever been in history. “1877: America’s Year of Living Violently” by Michael Bellisiles is one effective antidote to that impression.The panic of 1873, when a post-Civil War speculative bubble burst, launched...

China rolled out its first open-source desktop operating system, called openKylin 1.0, on Wednesday, a key move that indicates the country has the ability to build its own self-developed operating system and fill the gaps in this field.The openKylin 1.0 was developed by a group of Chinese companies led by China Electronics Corp, the country's largest State-owned comprehensive electronic information enterprise group. Other participants include the China Industrial Control Systems Cyber...