Inflation is coming down, as the last BLS report shows. I'm not going to get into that into this (very short) post. The disinflation has taken place while the official unemployment remains very low. However, we all know that unemployment measures very poorly the situation in the labor market. My alternative measure, which I make students calculate in macro classes, is what would be the unemployment rate be if the participation rate, which has been declining since the early 2000s (when China...

This is taken from Prof. Heather’s June 15, 2023, Letters from an American. It begs the question of why can there not be another New Deal for Americans? When he accepted the Democratic nomination for president in July 1932, New York governor Franklin Delano Roosevelt vowed to steer between the radical extremes of fascism and communism to deliver a “New Deal” to the American people.  The so-called alphabet soup of the New Deal gave us the...

Love of the Land and Community Inspired the Montana Youths Whose Climate Lawsuit Against the State Goes to Court This Week, Inside Climate News, Richard Forbes. For the plaintiffs in the first youth climate lawsuit to go to trial, finding their voice and inspiring others has been as much a salve for their climate grief as bringing their case to trial. Rikki Held headed southeast into the badlands, eyes fixed on the billowing smoke as it...

Noah Smith’s critique of heterodox economics — nothing but nonsense on stilts One problem in applying skepticism and critical investigation equally is that heterodox and mainstream theories use extremely different methodologies. Generally speaking, mainstream macro uses math, while heterodox macro uses literary text with no math … Which means that if we judge each theory using its own methodology, mainstream macro will have to pass rigorous quantitative...

Nationalekonomi som vetenskap har världen över förlorat otroligt mycket i prestige och status under senare år. Inte minst på grund av dess oförmåga att analysera och förklara ekonomiska och finansiella kriser och på grund av dess avsaknad av konstruktiva och hållbara förslag på att ta oss ur dessa kriser. Hur återskapar vi förtroendet för nationalekonomin? Fem förändringar är helt avgörande. (1) Sluta låtsas som om vi har exakta och riktiga svar på allting. För det har vi...

Εμπρός στις εκλογές της 25ης Ιουνίου η ΑΝΤΑΡΣΥΑ διοργανώνει εκδήλωση – συζήτηση την Κυριακή 18/6/2023, στις 11πμ. στο ΚΑΠΗ Πόρτο Ράφτη (στη διασταύρωση για το λιμάνι).  Θα μιλήσουν : Άννα Μπαχτή, εκπαιδευτικός, μέλος ΚΣΕ της ΑΝΤΑΡΣΥΑ Σταύρος Μαυρουδέας, Καθηγητής στο Πάντειο, υποψήφιος στην Ανατολική Αττική.  Θα ακολουθήσει συζήτηση. Στις εκλογές στις 25 Ιούνη ακόμα πιο ενισχυμένη η ΑΝΤΑΡΣΥΑ    AdvertisementΡυθμίσεις απορρήτου...

Cumulative TTM earnings for the entire S&P 500 about $1.5T … Fed transferring 5% IOR on $3T Reserve Balances to Depositories = $150B annual… Treasury in transition process of paying 5% on $25T public debt to USD savers in Treasury Securities Accounts = (eventually) $1.25T annual….Collectively these two are in process of providing approximately additional amount of annual free munnie equivalent to what a year of blood sweat and tears shed by all of the millions of people working at the...

Initial and continuing claims edge closer to signaling recession  – by New Deal democrat There’s a blizzard of data this morning. I’ll report on retail sales and Industrial production later. But let’s start with initial jobless claims, which were unchanged this week at 262,000, the highest level in over 18 months. The 4 week average increased 9,250 to 246,750. Continuing claims, with a one week lag, increased 20,000 to 1.775 million:...

What is exciting about this op-ed is not just the topic but the writer Lisa Ansell. Ms. Ansell is the Associate Director at the Casden Institute for the Study of the Jewish Role in American Life. She definitely has the band width in adding to the fight for student loan relief for the 46 million students having no-way-out from predatory loans. Lisa is writing articles in support of Student Loan Justice Org. “I’m an independent. Here’s what...

Dems imposing what has to be the most regressive policy in the last 20 years at least…Let’s go Brandon! ?Ferrari new all time highs everyday.. looks like only poor see recession pic.twitter.com/rE0ZdLZtSI— ??????? (@AlessioUrban) June 14, 2023