The impact of QE

Summary. You know all this if you have been following this, but it's a useful summary for those not following it closely.UnherdWill America win from de-dollarisation?Thomas Fazi, co-author with Bill Mitchell of Reclaiming the State

from Lars Syll A couple of years ago, Paul Krugman had a piece up on his blog arguing that the ‘discipline of modelling’ is a sine qua non for tackling politically and emotionally charged economic issues: In my experience, modeling is a helpful tool (among others) in avoiding that trap, in being self-aware when you’re starting to let your desired conclusions dictate your analysis. Why? Because when you try to write down a model, it often seems to lead some place you weren’t expecting or...

The last dissent of Thurgood Marshall: the Rule of Law vs. the transitory Edicts of 5-4 Court majorities  – by New Deal democrat Daniel Kiel at the TPM Cafe, on the supreme differences between Clarence Thomas and his predecessor, Thurgood Marshall, writes: “Thurgood Marshall, … in his final opinion before retiring after a quarter century on the court, [ ]warned that his fellow justices’ growing appetite to revisit – and reverse – prior...

Economic warfare has its consequences, including blowback. Did anyone think this through?Asia TimesWestern tech firms just can’t resist China’s chip marketScott FosterRelatedTASS (Russian state media) IMF finally turned into tool to achieve US military goals — Lavrov [headline too narrow, there's much more]

Remember all the hype from central bankers last year and earlier this year about how they had to get ‘ahead of the curve’ with their interest rate hikes just in case wage demands escalated and inflationary expectatinos became ‘unanchored’. Over the last 18 months, I consistently noted in various blog posts that this was all a ruse to create a smokescreen to justify the unjustifiable rate rises – given that the inflationary pressures were almost all coming from the supply side and those...

A Dynamic Vision for a Better Society

Causal assumptions in need of careful justification As is brilliantly attested by the work of Pearl, an extensive and fruitful theory of causality can be erected upon the foundation of a Pearlian DAG. So, when we can assume that a certain DAG is indeed a Pearlian DAG representation of a system, we can apply that theory to further our causal understanding of the system. But this leaves entirely untouched the vital questions: when is a Pearlian DAG...

Several editions have been published of the works of Marx and Engels. One can also look in the Marxists Internet Archive. Many individual works have been published in various translations in various places. Marx's manuscripts ended up in the Institute of Social History (ISH), in Amsterdam. A first attempt was started in 1927, the first Marx-Engels Gesamtausgabe (MEGA), in which the works were to be published in their original languages. This project was never completed. David Riazanov,...

EVs and S&DCs: USPS says you can’t have one without the other, Save the Post Office, Steve Hutkins The Postal Service is using the very popular plan to buy electric vehicles (EVs) to justify its very unpopular plan to relocate carriers to Sorting & Delivery Centers (S&DCs). In press releases, news articles, and presentations to business mailers, the two plans are being yoked together, as if you can’t have one without the other....