In a world of fossil price shocks and Chinese cleantech dominance, carbon shock therapy emerges as the default stance of states unwilling, or unable, to support their industries through a green transformation. New with @danielagabor.bsky.social on green macrofinancial regimes in the Hormuz crisis.

War → energy shock → inflation. This time: Iran. But we saw this already after Russia invaded Ukraine. Back then, the shock ignited some big debates on monetary autonomy and dollar dominance In a new paper w/@palmapolyak.bsky.social we go back to that moment. A short thread👇

The last article in Global Society 40(2) is "Future Impacts of Industry 4.0 on Labour Markets and Production Reshoring, Concentration and Sustainability: A Prospective Literature Review" by @gregoriobuzzelli.bsky.social and @francesconicoli.bsky.social. Enjoy! www.tandfonline.com/doi/full/10....

Happy to share that my paper, "Green energy transitions under financial subordination: climate finance, structure, and agency in the Global South," has now been published in @ripejournal.bsky.social! ✨ You can read the paper below: www.tandfonline.com/doi/full/10.... 1/

There's a global race to secure EV battery gigafactories & reduce reliance on China. But not all clean-tech projects are created equal. Some generate good jobs & domestic capacities, others produce ecological harm & low value-added enclaves. New paper & thread 👇 www.tandfonline.com/doi/full/10....

pleased to announce the merger of @erikpeinert.bsky.social (antitrust) and my (corporate organization / franchise) interests in a paper on what the end of regulation banning vertical restraints meant for the US political economy = not good ! academic.oup.com/ser/advance-...

Publication alert! 🔔 My new article in @ripejournal.bsky.social shows that the way in which credit ratings assess climate risks is detrimental to chances of the green transition. www.tandfonline.com/eprint/DEWKJ... 1/n 🧵

Stacie E. Goddard and Abraham Newman’s neo-royalist framework not only captures the logic of Viktor Orbán’s rule, but also goes a long way toward explaining why it is unraveling. ⌛A read for the longest two days. @abenewman.bsky.social brettoninthewoods.substack.com/p/the-house-...

Het

I don’t think there’s any sense in which high debt levels limit the options of large countries to respond to the crisis. What is true is: When debt is high, an adequate response to the crisis is more likely to come at the expense of the claims of the bondholders. www.ft.com/content/2b6a...

Een stukje speciaal voor 1 april. Solidariteit is toch meer dan een grap? Parkeer partijen die solidariteit prediken in woorden, maar in daden voor afbraakpolitiek zorgen even op de pechstrook. www.knack.be/nieuws/belgi...

Also from me this morning - fascinating new research by Tobias Gehrke / @TGehrke_ showing the power and costs of Europe's economic weaponry for escalating things with China The message: if the fragile US-China truce fails, the EU needs to "learn to fight for itself"

I’ve often said I had to do therapy to overcome the Schumpeterianism of my teachers. He was an interesting sociologist at best, but not a great economist. The theory of innovation is mostly old marginalism plus heroic entrepreneurs. New post here nakedkeynesianism.blogspot.com/2026/03/on-s...

Using regional employment data, the map shows which parts of Europe are most exposed to the rise in Chinese import competition across manufacturing industries. The results highlight the industrial core of Germany and the manufacturing belt of CEE.

German Chancellor Merz spent the past two weeks travelling first to Beijing and Hangzhou, then heading to Washington a few days later to meet Trump. Merz’s itinerary functions as a crude but accurate map of Germany’s external exposure. open.substack.com/pub/outsampl...

📣 Publication day! The first paper from my project on Europe’s EV battery roll-out is finally out I unpack how the EU’s EV battery boom is entangled with sacrifice zones—investment in Serbia & Hungary de-risked through autocracy. www.cogitatiopress.com/politicsandg...

Here we go - EU industry chief Stephane Sejourne presents the long-awaited Industrial Accelerator Act "What I'm talking to you about isn't just a change in our modus operandi - it's actually a change in doctrine. This is something that was unthinkable even just a few months ago"

A report by the French National Assembly has proposes to reinforce further the role of the ECB on climate change. greencentralbanking.com/2026/03/03/f...

In @equatormag.bsky.social, Melinda Cooper discusses how the billionaire patriarchs of the American far-right want to rule an economy of masters and servants.

I have a new review paper out in @environmentalpol.bsky.social! ✨ What would it actually take for states to pursue green transformations? I identify 5 capacities — planning, disciplinary, strategic, legitimation and adaptive — and their respective policy elements, capabilities and institutions

Now that tariffs are officially illegal, will corporations bring prices back down or keep them once more where they are despite falling costs? That's the affordability question of the moment.

Fascinating report on Europe's chokepoints - Without EU market access, 7 US big tech firms could lose 30% of market value - 80% of low-enriched uranium used in US comes from EU - if Siemens + co prioritised putting their turbines in EU data centres, a €50bn hit to US tech firms

Van wie is de uitspraak “Sommige ouders geven het kindergeld uit aan drank en gokmachines”? A. De Wever. B. Bouchez. C. Rousseau. Twijfel? Snap ik, want er is geen enkel verschil meer tussen N-VA, MR of Vooruit in de manier waarop over kwetsbare mensen wordt gepraat. www.demorgen.be/meningen/in-...

Brutal chart from @noahbarkin.bsky.social and Gregor Williams. German exports to China grew for nearly two decades - and are now in free fall.

Spain's constitution promises democracy at work. Last year, @yolandadiaz.bsky.social convened an expert group to study how to make good on that promise. Lead by @isabelleferreras.bsky.social, we have delivered what is, we think, the highest-level 400-page report on economic democracy out there. 1/2

This paper raises critical questions about (over)using public-debt-to-GDP as a measure of debt sustainability. Debt/GDP is at historic highs, but interest/GDP and debt/equity show flat or falling patterns. Better theory, smarter metrics and less focus on debt/GDP needed.

We are happy to release the Paths to Power Dashboard. It is the perfect tool for politics nerds! You can find it here: ptp.isv.sv.uio.no/ptp/ It allows you to explore governments from 1966-2021 using the PtP and WhoGov datasets. See examples below. The app has been programmed by Stuart Bramwell.

Tribute to Michel Aglietta in @newleftreview.bsky.social: "a tireless thinker, committed to the proposition that we should aim to comprehend our changing historical times in their totality, which meant grasping the inter-relationships of their many moving parts." newleftreview.org/issues/ii156...

📢 Very timely new paper by @paulahaufe.bsky.social - give it a read! journals.sagepub.com/doi/10.1177/...

Trump wil de FED onder zijn controle. Onafhankelijkheid van centrale banken staat onder druk. Maar is depolitisering wel democratisch? @mattvermeir.bsky.social (UGent) pleit voor debat over democratisering van monetair beleid. www.denktankminerva.be/opinie/trump...

Migratie kost miljarden? 📉 Niet volgens NBB, OESO en IMF. 📈 Migratie zorgt voor groei, jobs en een sterkere welvaartsstaat. Analyse van @hielkevd.bsky.social (Denktank Minerva) & @flordidden.bsky.social (@11.be) op @sampolmaandblad.bsky.social en hier 👇 🔗 www.denktankminerva.be/opinie/de-op...

Over the last 11 financial years, the UK Treasury has spent more on paying interest to the banking sector on their reserves than it has taken in from them in corporate and sector-specific taxes. In 2024-25, it paid over 3 times as much for interest on reserves as it received from taxes on banks.

In the past 20 yrs, China extended >$800 billion in loans to emerging market and developing country economies to finance infrastructure, energy etc. China’s loan portfolio surpassed those of the World Bank, the IMF, and all 22 Paris Club creditor governments combined.

Impossible to repost or discuss this chart too many times. A tale of two crises & two policy responses. One of them we still inexplicably talk about as a success, & one we still inexplicably talk about as a failure. 1.5 years of modestly high inflation did a number on us.

Could there be a clearer sign that the RN believes France enjoys more effective monetary sovereignty inside the € than outside it (as I have long argued)? www.tumblr.com/rajakorman/6...

IMF: "only about half of fiscal consolidations achieve their fiscal targets, including debt reduction. A broad range of econometric methods, based on well-established methods in the empirical literature, confirm that fiscal consolidations do not reduce debt ratios, on average."

🚨New publication with Kristijan Kotarski: Enduring Structural Power? Assessing the Dominance of the Anglosphere in Global Finance Before the Trump Turn Includes novel visualizations of global finance (banking, portfolio inv & FDI) showing persistent US centrality hrcak.srce.hr/clanak/487488

A reminder that the U.S. is defacto the most sovereign sovereign in the world. Which in turn means that any attempt to reduce the asymmetry U.S. enjoys in terms of “sovereign intrusions” will likely be construed as an intrusion on US sovereignty. open.substack.com/pub/sankaran...

+1,5 miljoen werkenden tussen 1996 & 2023 Maar werkgeversbijdragen aan sociale zekerheid: 50% → <40% Gevolg: overheid vult het gat met hogere belastingen of schulden. Geen economische wet, maar politieke keuze. Tijd voor eerlijk debat: wie draagt bij, wie profiteert?

📢 New paper out in New Political Economy: "Depoliticising monetary tightening: how the European Central Bank managed the 2021–2023 inflation shock" Thread here below 👇 www.tandfonline.com/doi/full/10....

📢 New paper out in New Political Economy: "Depoliticising monetary tightening: how the European Central Bank managed the 2021–2023 inflation shock" Thread here below 👇 www.tandfonline.com/doi/full/10....

🚨NEW PAPER🚨 We all know the 2022 energy price shock fueled the cost of living crisis. It also caused a profit bonanza for the very rich. We show the US reaped the largest profits ($377bn) of any country. 50% went to the richest 1%, only 1% to the bottom 50%. A🧵 www.sciencedirect.com/science/arti...

How do political institutions shape today’s wave of economic interventionism? 🇺🇸 vs 🇪🇺 Find out in our new article just out in @govjournal.bsky.social onlinelibrary.wiley.com/doi/full/10.... @donatodc.bsky.social

The "45% tariff" equivalent on intra-EU trade line is everywhere, even in von der Leyen’s #SOTEU last week. That number is misleading, as Smaghi explains. Lower intra-EU trade isn’t just about barriers but also consumer preferences for domestic products like food. iep.unibocconi.eu/europes-inte...

“Pretty strong evidence” that the US current account is mostly driven by foreign dynamics is actually pretty weak evidence if you only focus on household balances and ignore the evolution of the sectoral balances of the US government and US corporations…

💥 New article out @reggovjournal.bsky.social Skill-Biased Policy Change: Governing the Transition to the Knowledge Economy in Germany, Sweden & Britain @ndurazzi.bsky.social @federicofiletti.bsky.social @simonetonelli.bsky.social David Hope, Hanna Kleider onlinelibrary.wiley.com/doi/10.1111/...

The U.S. has lost 78k manufacturing jobs this year

The video on the FT.com front page right now is one for the ages - the collective heads of US big tech fawning over the 'leadership' of President Trump. Their participation tells you about their values. Their specific emphasis reveals what they are getting out of it.

I’m in @financialtimes.com on Trump’s recent move to make the Pentagon the top shareholder in the US only rare earths mine. This is the “worst of all worlds” resource nationalism: a toxic mix of environmental harm, militarism, Big Tech, financial de-risking, and asset appreciation. Link below ⬇️