from Dean Baker People routinely tout Biden’s efforts to bring back manufacturing jobs as a way to rebuild the middle class and reduce inequality. Whatever the motives, there is not much reason to believe that it will have this effect. When the United States opened up its market to freer trade in manufactured goods, through trade deals like NAFTA and admitting China to the WTO, manufacturing workers had a substantial pay premium over workers in the rest of the private sector. This was...

 Call for Papers (ROPE)65 years after Production of Commodities by Means of Commodities: new directions in the Sraffian approachGuest Editor: Santiago José GahnInternal Editor: Sylvio KappesThe year 2025 marks the 65th anniversary of the publication of the book Production of Commodities by Means of Commodities by Piero Sraffa (1960). Not all economists are capable of transforming their name into a legacy, into a school. Piero Sraffa belongs to this select group. Exiled from fascism, he built...

Banks preying on university students

If you're counting on Asia's many new power centers to compete and clash – don't. The Greater Eurasia Partnership is set to integrate them all – from the SCO, EAEU, and BRICS, to emerging new currencies – in order to replace the 'rules-based order [my-way-or-the highway].'The CradleThe Greater Eurasia project: Building bridges and breaking barriersPepe EscobarRelatedSputnik International (Russian state-sponsored media)Existing Global Financial System Exhausted, Not Up to New Challenges -...

Το δημόσιο χρέος, η ραγδαία αύξηση του ενδοκυβερνητικού δανεισμού και τα προβλήματα ρευστότητας των ασφαλιστικών ταμείων Σταύρος Μαυρουδέας Καθηγητής Πολιτικής Οικονομίας στο Πάντειο Πανεπιστήμιο και υποψήφιος με την ΑΝΤΑΡΣΥΑ στην Ανατολική Αττική Το πρόβλημα Το πρόβλημα του δημόσιου χρέους προβλήθηκε από τα συστημικά κέντρα ως ένα από τα δύο γενεσιουργά αίτια της ελληνικής κρίσης του 2010. Η Μαρξιστική προσέγγιση έχει δείξει ότι αυτή η επίσημη ερμηνεία που βασίζεται στα...

Back to the basics: how do initial claims, total hours worked, aggregate real payrolls, and job growth relate?  – by New Deal democrat One of the most important reasons why big Fed rate hikes and big downturns in things like housing starts and credit provision haven’t translated into a recession this year (so far!) is the big decline in gas prices in the second half of last year. This big decline has translated into income and spending gains...

Was tun gegen die hohe Inflation? .[embedded content] Interessante Diskussion, nicht zuletzt Adam Tooze’s Beitrag.

What is being offered up by 3M, etc. (NYT article below) is a pittance of what will be necessary to clean up lakes, wetlands associated with the lakes, rivers, and streams. I lived in Michigan. The reported contamination from PFAS, etc. there is massive and then there is a potential Lake Erie cleanup, the Niagara River, and into Lake Ontario. You can fish in Michigan lakes, etc. but they are advising not to eat the fish. Also areas near air force...

Suppose one rejects the labor theory of value as a theory of prices. Or, even more, one could reject Marx's theory of value in volume 1 of Capital. Still, one could elaborate the theory of prices of production. In my published works, I have tried to extend the theory a step or two. And the theory of prices of production is opposed to a marginalist theory, a theory of supply and demand, if any such coherent theory exists. In this post, I offer one explanation of the setting of the theory...

Arizona Opinion: There are lies, and there is the Public Service Loan Forgiveness program, tucson.com, Lisa Ansell and Christina Winton. USC Associate Director Lisa Ansell discusses the predicament Christina Winton is in with Loan forgiveness applied for after 10-years in public service and the foot dragging by the PSLF program to cancel her student loans. And then there is loan repayment scheduled to start again September 1 of this year....