Little doubt, economic policy will be one of the things experiencing the greatest change due to Global Warming (Climate Change). Always a construct, economic policies have, heretofore, in the main, been determined by the powerful. Seldom, if ever, have they been based on how it should be. If we are lucky, in the very near future, that determination will become a democratic one based on how should it be. If not, we haven’t a snowball’s chance in hell...

A comment on Juneteenth; and what I’ll be looking for in tomorrow’s housing report  – by New Deal democrat That Juneteenth is a national holiday ought to be a full rebuttal to those who think that teaching the entirety of American history, including its worst moments, is somehow an insult to the majority. That enslavement was finally ended by the Emancipation Proclamation and the 13th Amendment is something that all present-day Americans ought...

New issue of ROKE on: Center-periphery analysis reconsidered, Essays in memory of Luigi Pasinetti. Possible topics of contribution to our special issue could address:The relevance of the center-periphery analysis and/or its limitations;Income and/or wealth distribution: the distributive and redistributive effects (in central and peripheral countries) of the neoliberal globalization;Debt tolerance/financial crises: the destabilizing role of central monetary policies on the peripheral...

Is this situation the result of incompetence or it is propaganda masquerading as science?William Mitchell — Modern Monetary TheoryBeware: pension systems about to collapse. Not! More mainstream fictionBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, AustraliaRelated Or is it the design of the system itself so that this situation is just one aspect of a syndrome. Caitlin Johnstone argues it is the result...

What is this thing called probability? Fitting a model that has a parameter called ‘probability’ to data does not mean that the estimated value of that parameter estimates the probability of anything in the real world. Just as the map is not the territory, the model is not the phenomenon, and calling something ‘probability’ does not make it a probability, any more than drawing a mountain on a map creates a real mountain … In summary, the word ‘probability’...

Podcasts New Economics Podcast: Why antiracism means anticapitalism Ayeisha Thomas-Smith is joined by Arun Kundnani By Ayeisha Thomas-Smith 19 June 2023 The Metropolitan Police’s diversity and inclusion strategy claims it is determined to...

This is starting t0 become a bit confusing as Missouri and other states are suing Biden because Mohela is being harmed by student loan forgiveness. In order to sue, the state has to have standing and they do not as of yet unless SCOTUS finds a way to grant them standing. Twice previously, SCOTUS has swatted states for claiming standing (ACA and Native American Child Adoption) when they did not. Justice Amy Barrett has been challenging the states on...

As American Jews, at what point do we stop to assess the collateral damage that the coalescence of crippling student loan debt and the advancement of AI in all facets of the economy will have on America’s working and middle class? Student Loan Debt, AI and the Extinction of the American Middle Class, jewishjournal.com, Lisa Ansell As millions of student loan borrowers are forced back to repayment on September 1, the Biden Administration will...

Image of tractor and workers spraying is used courtesy of Getty Images. Originally published June 30, 1962, the book Silent Spring was banned initially. It was met with great resistance by many. Carson was advocating a more careful use of the pesticide. Instead, DDT was banned from any use. Globally, other countries followed suit. And the deaths from malaria increased again. Fortunately, more disciplined minds prevailed in the use of DDT....

from Dean Baker Fear the rich, not AI It is really painful to see the regular flow of pieces debating whether AI will lead to mass unemployment. Invariably, these pieces are written as though the author has taken an oath that they have no knowledge of economics whatsoever. The NYT gave us the latest example on Sunday, in a piece debating how many jobs will be affected by AI. As the piece itself indicates, it is not clear what “affected by AI” even means. What percent of jobs were affected...