Wherever you look, alarm bells ring about government #debt seemingly spinning out of control. But is it really? Or might, as so often, some political agenda setting be at work here? jakobsteffen.substack.com/p/is-governm... #economics #PostKeynesianism #PKE #money

Fascinating symposium papers in the Review of Keynesian Economics on the matter of #hysteresis/path-dependence in #economics - Thread 🧵 https://www.elgaronline.com/view/journals/roke/11/4/roke.11.issue-4.xml

These questions about the #IndustrialRevolution as presented by Robert Tombs in his "The English and Their History" will always remain a guideline for the social sciences - since the answers to them inevitably depend on the individual theoretical approach. #economics

Mills and Moors, by Charles Ernest Cundall, 1890-1971 (Kirklees Museums and Galleries). #NorthernArt

The notion of the state crowding out the private sector by its #deficitspending is currently trending. On my blog, I point out why it's a fallacy: #economics #PostKeynesianism #PKE #debt #rates jakobsteffen.substack.com/p/the-nonsen...

Used autos reduced core CPI by -0.3%-pt at annual rates in June. For context, Manheim's used auto price index is +19% ann. over the last three months vs +2% ann. for CPI used autos/trucks. Ex used auto, core prices up 3.1% ann., highest since the residual seasonality-impacted Jan spike to 5.5% ann.

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'(...) he is an opportunist exploiting a nihilist moment of moral despair and cultural disorientation to install an anti-liberal value system that many millions perceive as a cure for nihilism itself.' This description of Trump by Sasha Mudd is the best I've read so far.

#Sunday observation: It would seem the purpose of all that modern communication technology is to enslave ourselves to the most irrelevant information. We expose us to a bombardment of messages clamouring for our attention real-time, even if it's only some friend passing on a not-really-funny meme 1/

Excellent analysis of the #altright trap #Tories are walking into these days by @samfr.bsky.social #Reform #UK #Badenoch app.prospectmagazine.co.uk/story/69424/...

#Servicepost With #Trump's #tariffs unveiled, we're now unequivocally in the lower-left corner of this chart posted in January.

"The beginning of a productive #disagreement is #curiosity, not persuasion" - writes @adamgrant.bsky.social in Saturday's Financial Times. Or, even more condensed: #Listening is gold, perennial talking silver.

Now he schmoozes, now he threats: We're used to Donald #Trump's erratic behaviour. But is this madman theory reloaded, and can it work? Excellent article by Daniel Drezner in @foreignpolicy.com https://foreignpolicy.com/2025/01/07/madman-theory-international-relations-unpredictability/

Bang-on - and accurate for centre-left parties elsewhere. If they continue to fail to act against social injustice, this will only get worse #austerity #inequality https://www.theguardian.com/commentisfree/2025/mar/28/fascism-britain-neoliberalism-opened-door-for-it-labour?CMP=Share_AndroidApp_Other

Elon #Musk's X is not so much about free speech - it's about unchecked power.

Government agencies' market share is the extent of their remit. - JS #witticism

This is almost ludicrous - yet exactly what #Keynes meant with his famous 'animal spirits': German investor sentiment skyrockets past expectations on the massive deficit spending programme to be passed by the #Bundestag today. 1/ https://tradingeconomics.com/germany/zew-economic-sentiment-index

#Fashion advice: Beautiful, charismatic pocket handkerchiefs flourish from the pocket like a flower; aggressive, uniform-like ones take the angular form popular today.

What a marvel of a metaphor (and spot-on into the addition): 'Trump is so obsessed with free riders, he forgets that it has been in the US interest to drive the bus.' - Joseph Nye in the @financialtimes.com of March 8th

Exactly! Together with Starmer's newly-found purpose as co-leader of a self-reliant Europe taking care of Ukraine, this is the moment to confront the public with the uncomfortable things to come - and I believe the public will be far more understanding than many might think.

Die neue Episode meines Podcasts mit Thomas ist da 📯 Dieses Mal sprechen wir über die ambivalentr dt. Haltung zur #Sicherheitspolitik durch die Jahrzehnte - und warum sie so besonders erschüttert worden ist. #Zeitenwende https://www.buzzsprout.com/1549213/episodes/16676880

Very thought-provoking blog post by Dan on a highly controversial subject (for full disclosure: I tend to side with him). This is a key part of where '#woke' (for want of a better label) went into self-destruction mode. #philosophy

Looking for some brain fodder on your Sunday? Here, I demonstrate the compatibility of Knut #Wicksell and J.M. #Keynes, underlining there are two fundamentally different types of interest #rates, the interaction of which is essential for macro-#economics analysis as well as policy.

Truly mad king stuff www.cnn.com/2025/02/14/c...

If you exclude #power from economic analysis, you define away what is a constituent in the #market #economy, crystallised in #money: 1/ #EconSky https://bsky.app/profile/did:plc:nvqkeyhynfszsg6z7gxj6ork/post/3lg3iaqydhh2t

🎙 Nächste Woche ist #Bundestagswahl - die Folge meines Podcasts mit Thomas Lämmer-Gamp zur letzten Wahl bietet noch immer eine gute polit-historische Einordnung dazu. #BTW25 🗳 https://open.spotify.com/episode/6tfmGNSwsymx2fcSs9SJgU

NB: You got to apply a #polarisation filter to every survey in the #US if you are to get any valid information. #EconSky

True.

After an attempt at a liberal, rules-based order, neo-realism takes over: In the clash between two superpowers and faced with a 'frenemy' who thinks but in terms of relative power, Europe (again) has the choice between bandwagoning or antagonising the US by appeasing China. @constelz.bsky.social

Good Lord - Chaminda seems to have been positively chafing while writing this 😅 I endorse this scathing thread and commend it to all #Labour adherents suffering out there: #UKpolitics #UK #Starmer

*Yawns* In his "Living #Economics", die-hard Austrian Peter Boettke all but declares war on #Keynesian thought which he singles out as "bad economics" - while betraying the very fundamental misunderstanding about #monetaryeconomics typical for Austrians: thread 🧵 #EconomicThought

The chart accompanying this post is classic propaganda #economics (AEI, small wonder): - #wages have become "more expensive"? It's these wages paying for those goods and services. - That's why the labelling is bonkers, too: wages are the divisor between expensive and affordable, not part of it.

Just sayin'... But I know: This time is different, of course #DeepSeek #markets #financialbubbles #AI

With his personal antics, #Musk again damaged the interests of #Tesla shareholders. The man is not half the prodigious entrepreneur credited to him; he simply cajoled investors into giving him money, then cashing in his chips. https://www.nytimes.com/2025/02/05/business/tesla-germany-elon-musk.html

I'm certainly not the only one realising this. But since I haven't read it as pointedly elsewhere, I'll put it down myself: President #Trump's #trade policy amounts to classic blackmail. So don't be surprised if, after achieving a first ransom, he'll come back with ever higher demands. #tariffs

Jamelle Bouie hits it out of the park. Gift link. www.nytimes.com/2025/02/05/o...

*smirks*

"#Money, and the forms it takes in a society, is as much about social norms as it is about pure economic efficiency," writes Esward Prasad in his book "The Future of Money" in the opening to chapter seven. Exactly. 1/ #economics #MonetaryTheory #CBDC

It has been stated often aready; but it cannot be repeated often enough. I'll try to give it a particularly succinct edge: The Western outlook on life, for all its cult of individualism, is about power: Who holds it over whom or what, and by what means? 1/

Look, Trump is trying to oversaturate us with nonstop chaos so we can’t react meaningfully to any one thing. But Friday's global stop work order on almost all U.S. aid is dumb and murderous. You need to know about it. 1/ A short🧵on this evil.

This is one of the better defences of Brexit you'll read. I disagree with a lot of it but it's thoughtful and acknowledges (some of) the problems. Always good to read the best version of arguments you oppose than whatever guff David Frost has come out with.

The thing about this is not just the willingness to accept Trump's cabinet picks as business as usual. It's the combination of that with the fact that the whole argument during the campaign was that Trump had to be defeated at all costs, to which any positive program was sacrificed.

Just sayin'... But I know: This time is different, of course #DeepSeek #markets #financialbubbles #AI

The #Edinburgh feeling is very strong tonight again - and I'd like nothing more than to finish my day's work with a decent #pint of Caledonian 80 or some other real ale in one of #AuldReekie's cosy pubs. (Such as Bennet's Bar, pictured)

Campaign for rebranding starts here.

Old rule on capital #markets : When an asset is priced to perfection, there's no room for error. #AI #DeepSeek #nvidia

Enjoying the tech #selloff (Before you ask: That's a rock-solid 12yr old standard issue #BlairAthol #SingleMalt in my glass) #DeepSeek #RedScare #SputnikMoment

+1

Grafik 10 aus: „Made in Germany” hat ein Preisproblem Die Lohnerhöhungen haben zwar die Inflation ausgeglichen... Aber noch lange nicht die Teuerung bei den inländischen Konsumgüterproduzenten... Ein wesentlicher Grund für die Investitionszurückhaltung und die Stagnation...

The case for a philosophy degree in two sentences.