That’s the headline for my latest piece in Inside Story, a review of Brad DeLong’s Slouching Towards Utopia and Sebastian Edwards The Chile Project . Some extracts The Chile Project, of which Edwards was a generally sympathetic observer, ranks with Thatcher’s Britain as the paradigmatic case of what I’ve called “hard neoliberalism,” which combines authoritarianism and radical free-market policies …Outside the United States, soft neoliberalism was often described as the Third Way....

Critics of labor-market programs such as the Job Guarantee argue that they enable precisely this sort of choice—they make it easier to decline work that one doesn’t like. One program participant in his thirties told me that, while on unemployment benefits, he’d been offered a job cleaning toilets at a gas station; he’d decided that he didn’t want “that sort of job,” and had instead found work in the carpentry workshop. If everyone were guaranteed a reasonably pleasant job, suited to their...

Another Message Board Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I’ve moved my irregular email news from Mailchimp to Substack. You can read it here. You can also follow me on Mastodon here I’m also trying out Substack as a blogging platform. For the moment, I’ll post both at this blog and on Substack. Share this:Like this:Like Loading...

Summary: to understand inflation we should not use the neoclassical ‘one good, one worker, one sector, one piece of physical capital’ or Y = f(K,L) concept of production. We should use a concept looking at nominal production (Y(n)) with multiple interrelated sectors (‘S’), multiple products and capital conceptualized not as a physical entity but as ownership rights of land (including natural resources), depreciable capital and ‘non produced’ capital like patents and marketing rights:...

Weekly Indicators for December 5 – 9 at Seeking Alpha  – by New Deal democrat My Weekly Indicators post is up at Seeking Alpha. The most noteworthy trend over the past several months has been the almost relentless deterioration in the YoY measures of consumer spending and employment. That trend continued last week. As usual, clicking over and reading will bring you up to the virtual moment as to the state of the economy, and reward me a...

Descripción https://en.m.wikipedia.org/wiki/Kutub_al-Sittah#cite_note-tahir-4 http://podcasts.ox.ac.uk/ https://ocw.mit.edu/help/get-started-with-ocw/ https://videolectures.net/ https://medieval.bodleian.ox.ac.uk/ https://portail.biblissima.fr/en https://sms.cam.ac.uk/ https://academic.microsoft.com/author/1453230058/publication/search?q=James%20Binney&qe=Composite(AA.AuId%253D1453230058)&f=&orderBy=0&paperId=2142824603 https://plato.stanford.edu/entries/qt-quantlog/...

Descripción https://en.m.wikipedia.org/wiki/Kutub_al-Sittah#cite_note-tahir-4 http://podcasts.ox.ac.uk/ https://ocw.mit.edu/help/get-started-with-ocw/ https://videolectures.net/ https://medieval.bodleian.ox.ac.uk/ https://portail.biblissima.fr/en https://sms.cam.ac.uk/ https://academic.microsoft.com/author/1453230058/publication/search?q=James%20Binney&qe=Composite(AA.AuId%253D1453230058)&f=&orderBy=0&paperId=2142824603 https://plato.stanford.edu/entries/qt-quantlog/...

Descripción https://en.m.wikipedia.org/wiki/Kutub_al-Sittah#cite_note-tahir-4 http://podcasts.ox.ac.uk/ https://ocw.mit.edu/help/get-started-with-ocw/ https://videolectures.net/ https://medieval.bodleian.ox.ac.uk/ https://portail.biblissima.fr/en https://sms.cam.ac.uk/ https://academic.microsoft.com/author/1453230058/publication/search?q=James%20Binney&qe=Composite(AA.AuId%253D1453230058)&f=&orderBy=0&paperId=2142824603 https://plato.stanford.edu/entries/qt-quantlog/...

from Lars Syll Both approaches to DSGE macroeconometrics (VAR and Bayesian) have evident vulnerabilities, which substantially derive from how parameters are handled in the technique. In brief, parameters from formally elegant models are calibrated in order to obtain simulated values that reproduce some stylized fact and/or some empirical data distribution, thus relating the underlying theoretical model and the observational data. But there are at least three main respects in which...

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