Central bank independence — a convenient illusion Today’s model of delegation has much to recommend it. But it should not be cloaked in euphemism. It is an abrogation of democratic sovereignty for pragmatic reasons, conditioned on the one hand by deeply entrenched and unflattering assumptions about electoral politics and, on the other, on an unquestioning acceptance of the private organization of credit markets and their lack of confidence in democratic...

Samuel Bowles on how "Marx’s representation of the power relationship between capital and labour in the firm is an essential insight" Economics in the Rear-View Mirror on renewal of Paul Sweezy's instructorship. Manoucher Parvin, in 1992, asks, "Is teaching neoclassical economics as the science of economics moral?" Alexander Douglas on micro-founded macro. A review of Fredric Jameson's new book, in Jacobin earlier this month. A review of Fredric Jameson's new book, in the September...

My interview on my new book with Andrew Keen has just been released. Please find it on the link below: https://keenon.substack.com/p/episode-2229-robert-skidelsky-worries Share this:Like Loading...

La blague raciste qui pourrait coûter cher à Trump .[embedded content]

Below is my speech on Ukraine in the House of Lords on the 25th of October. Unfortunately, time constraints forced me to leave out two bits of my argument which I will put in brackets in the text. “My Lords, I am usually put last on the speakers’ list in any debate on this topic, but I treat that as a badge of honour. I welcome the opportunity we have been given to take note. I have been taking note of the Government’s position on Ukraine for over two years now. It is unchanging: the...

[unable to retrieve full-text content]I chose this particular period to present as it depicts the impact of pandemic. It also shows the results of President Biden’s economic stimulus targeting manufacturing. And yes, you can also see the impact of the FED on the economy and their actions to normalize growth. It is a simple read. Yes, there is some […] The post Second Quarter 2024, U.S Manufacturing Report appeared first on Angry Bear.

[unable to retrieve full-text content]Kevin Drum over at jabberwocking.com watched the Trump spectacle over at Madison Square Garden so we didn’t have to. He zeros in on Elon Musk: “Elon used to be smart enough to do simple addition, but he thinks we can cut “at least” $2 trillion from federal spending—which amounted to $6.1 trillion last year, not […] The post Elon Musk can’t do arithmetic appeared first on Angry Bear.

[unable to retrieve full-text content]You are going to hear a lot from Vance saying, “Trump would, Trump says, Trump did, etc. Vance has little foundation to support his commentary. It will always be they said and not I believe or say . . . That is the Republican version of a vice president. Feet made of sand . . […] The post Vance . . . Trump administration would end funding to Planned Parenthood appeared first on Angry Bear.

[unable to retrieve full-text content]What the Economists say Not likely. However it is a good economic and political ploy to play on voters. And Trump plays it well to stir up voters. The tariffs Trump proposes will hurt far more US citizens economically than immigrants coming to America legally or illegally. Trump is betting he can play on people’s […] The post Are immigrants taking jobs from ‘native’ U.S. workers?  appeared first on Angry Bear.

Can it be truthfully said that “internal borrowing shifts the war burden to future generations while taxing places it on the present generation”? A thousand times no! The present generation must still give up resources to produce the munitions hurled at the enemy. In the future, some of our grandchildren will be giving up goods and services to other grandchildren. That is the nub of the matter. The only way in which we can impose a direct burden on the future nation as a whole...