Common DreamsTop US Companies Admit to Hiking Prices to Pad Their Profits: Analysis Jake JohnsonLars P. Syll’s BlogMy new book is outLars P. Syll | Professor, Malmo UniversityZero HedgeAsian Central Banks To Adopt Iran's SWIFT Alternative As De-Dollarization Accelerates [The first objective is not to replace the dollar as the reserve currency but to provide countries of the Global South/East with an alternative to the dollar settle trade accounts among them.]Tyler DurdenStrategic Culture...

I was motivated to write this post partly to [looks heavenward piously] correct the record, partly to defend the blogosphere’s importance, then and now, and partly to defend the honor of my own blogs, Naked Capitalism and (then) Corrente. I was also, quite frankly, shocked at New York Magazine’s sloppiness, and I hope any Google search brings up this post along with it.More importantly, however, dear members of the NC commentariat, Beowulf’s Coin began as a comment, and was nurtured by...

Isabella Weber's Sellers' inflation, profits and conflict: why can large firms hike prices in an emergency?, in the Review of Keynesian Economics. Isabella Weber et al Inflation in times of overlapping emergencies: systemically significant prices from an input-output perspective, a working paper. Zachary Carter's profile of Isabella Weber in the New Yorker. Noah Smith's muddle and more muddle. Zachary Carter has a book, The Price of Peace: Money, Democracy, and the Life of John...

“Sabotaging a nation’s future,” Infidel753 Blog, Infidel753 The government of India recently issued new guidance on schooling.  If implemented as described and made permanent, the changes will be disastrous for the country’s future. The theory of evolution — the core and basis of all modern biology and most medical science —  is to be dropped, except for the small minority of students who “major” in biology.  Some other key scientific concepts,...

Economics textbooks transmogrifying truth Perfect competition idealizes the very small firm, its growth constrained by rising AVC [Average Variable Cost] as it expands output. But why does AVC rise? And why does it rise to such an extent that it outweighs declining AFC [Average Fixed Cost], resulting in the U-shaped cost curve? Current textbooks do not supply an explanation. For example, N. Gregory Mankiw, in his Principles of Microeconomics, simply states...

Here’s how I called it today. EXACT! And a lesson for you all: Don’t wish upon the Chart Fairy.

June 13, 2022, Letters from an American, Prof Heather Cox-Richardson It was quite a chyron from CNN, marking the first time in the history of the United States that a former president has been charged with federal crimes. And in this case, what crimes they are: the willful retention, sharing, and hiding of classified documents that compromise our national security. Trump’s own national security advisor John Bolton said, “This is material that in...

The magnitude of this healthcare scam is troubling. How could it go on for a period of time it did? It is apparent the state agency in charge of contracting did not follow up on these facilities for reasons unknown at this time. And i was easy to ignore due to the ethnicity of the people targeted. The state contracts with private and non-profit managed care organizations (MCOs) who are the health insurance providers for Medicaid beneficiaries. The...

My new book is out Contemporary mainstream economics — still — focuses on studying what happens in abstract and unrealistic models. A deeper study of underlying causal mechanisms in the economy could make economic science more realistic. However, when faced with the monumental gap between empirical data and models, mainstream economists often resort to one of their four favourite strategies to immunize the models against facts: 1. Treat the model as an...

Producer prices continue sharp deceleration; real average and aggregate nonsupervisory pay continues to increase  – by New Deal democrat Historically producer prices were more upstream of consumer prices, but since the 1990s and the employment of “just-in-time” inventories, that has been less the case. So I normally don’t pay too much attention to the monthly PPI. But for the record, PPI continues to confirm, and amplify, what we’ve seen in...