“This Pioneering Economist Says Our Obsession With Growth Must End,” NYT. Portions are (or much) taken from David Marchese’s interview with Herman Daly in 2022. Economist Herman Daly passed on, October 28 in Richmond, Virginia. at the age of 84. What made Herman Daly unique was his embracing of “the counterintuitive possibility our current pursuit of growth, rabid as it is causing such great ecological harm. In turn, the pursuit might be incurring...

November JOLTS report consistent with a continued “hot” labor market  – by New Deal democrat  The JOLTS report for November showed both continuing decelerating trends in some series, but overall a picture of a labor market that continued “hot.” Here’s the graph I ran one month ago of job openings, hires, quits, and total separations: Now here is an update for the past 2 years of all four series: Three of the four series – openings,...

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Svensk skola av idag

Chief Economists(?) not understanding basic, simple things! Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

I don’t know how this will turn out, and maybe what I’m about to say will be disproved by events, but here goes:I think the Republicans face a difficulty in electing a Speaker that the Democrats wouldn’t have, and it will be hard to overcome.  Democrats may disagree intensely, but they all have legislative agendas to pursue, and in the end they are likely to compromise in order to get at least some of what they want.  Republicans have little to no agenda.  In the last presidential election...

from Mark Weisbrot Here are eight predictions for the coming year, in accordance with a hallowed tradition that I have previously not honored. If some of the supporting facts below seem unfamiliar, it could be because they have not received the attention they deserve. But they are real, and links to sources are provided. First, some good news about the US economy: Inflation will likely continue to fall until it becomes obvious that it is no longer a serious concern. Inflation (as measured...

A six-part documentary series on the remarkable journey of economist, whistleblower and Greek politician Yanis Varoufakis. Coming soon.

It seems reasonable to hope that a successful explanation of wage rigidity would contribute to understanding the extent of the welfare loss associated with unemployment and what can be done to reduce it … Many theories of wage rigidity and unemployment include partial answers to these questions as part of their assumptions, so that the phenomena of real interest are described in the theories’ assumptions. For instance, Lucas concludes that increased unemployment during...