Reminded me of the comparison of the Hayekian entrepreneur to house cats--fiercely asserting its independence and individuality, all while living in a comprehensively controlled environment fined-tuned to its needs.

An industry on the verge of a paradigmatic breakthrough? Or a giant circle-jerk cartelising an industry and propping up valuations towards the end of a wild speculative run? #EconSky

It only dawned on me recently that I've been working towards the development of a canonical approach to statistical analysis, grounded only on axioms defining, (a) probabilistic measures of rational belief over events, and (b) measures of uncertainty over aggregations of events 🤯

A recent picture of me, caught in the wild.

I’m a sewage system. I also have a great personality.

Then you better be happy somebody else did…. #Presumptions #Privilege

I was back at 26 Federal Plaza today, where an ICE agent violently threw this bereft woman to the ground in front of her kids. She had not touched him. She did not pose any threat. She had to be taken to the hospital. (🎥: Elias Eliahu)

Having one of those days where "intelligent people lacking the courage to call out the bovine idiocy of dumb people" seems like a compelling, exhaustive explanation for much of what ails the world at the moment.

Using tariffs to obstruct justice in Brazil, using the Dollar’s international dominance to influence elections in Argentina. The use of US economic power to subvert national sovereignty is seldom this brazen. Building a duly multilateral world where no country can do this is long overdue.

CNN has identified at least 100 U.S. citizen children who have been separated from their parents after ICE deported them - including newborns. As a parent I cannot imagine the horror of being separated from my child, but that trauma is even more acute for the innocent children left behind.

One day, two articles. Both diagnosing deep malaises in the Chinese economy. All economies face challenges. But as the US & Europe head into a damaging downturn, expect more articles in this genre reassuring Western audiences that it is China’s model of economic management that is failing. #EconSky

A media ecosystem that has spent decades ignoring the suffering of ordinary people, helping governments manufacture support for endless wars, helping police lie about killing civilians, and more recently covering up a genocide, is not about to take up the fight for free speech. on.ft.com/48mMi3V

“A new equity culture ” sounds a lot like a “permanently high plateau”. But this time is different…

“Bringing American jobs back and reindustrialization are legitimate motivations. When the US raised the banner of neoliberalism, Brazil warned of its harmful effects… “unilateral action is the wrong remedy. Multilateralism offers fairer, more balanced solutions.” www.nytimes.com/2025/09/14/o...

The fact that US corporate elites have talked themselves into sinking $400bn this year, and possibly $3tn by 2028, on a technology that summarizes, often poorly, the work of others and presents it as “intelligence” is a little bit on the nose—no? economist.com/leaders/2025...

vou dizer um negócio pra vocês: quando esse julgamento acabar, se o resultado for o previsto, FAÇAM FESTA comemorem. encham as ruas. gritem. façam carnaval, manifestação, soltem fogos, saiam correndo pela rua beijando a camisa do Brasil, encham as redes sociais de meme isso também é narrativa.

Am I the only one here who is both very aware how far from general intelligence LLMs really are AND still writes "please" and "thank you" to the ChatGPT bot in case our future AI overlords decide to judge us by how kind we were to their cognitively distant ancestors??

Remember that movie, “Don’t Look Up”? Yeah, me neither… www.theguardian.com/environment/...

Anybody else see the problems here??

Cook showing more courage than all US media, corporate, and university leaders combined…

“¡Abajo la inteligencia! ¡Viva la muerte!” www.insidehighered.com/news/admissi...

This gem from the folks who had to pay $1.4bn to the US DoJ to avoid prosecution for gross malfeasance over their ratings of mortgage-backed securities in the 2000s. #receipts #EconTwitter

If you are going to read one thing about the AI mania over the next few months, read this:

Meanwhile, people are arguing in the US about how limited autonomy makes EVs “impractical” like it’s 2010….

The LLM is like the last investment banking analyst hired in 2006.

Notice how contemporary arguments about “incentives” always land on astronomical giveaways to the rich and privileged, and on the cruelest, most miserable forms of stinginess for the poor and powerless? # EconSky

Anybody else notice the difference in the way establishment outlets discuss regressive and progressive taxes?? Federal income tax raises $2.5tn or more than 83. times $30bn. Where’s the article arguing that size makes it hard to cut it?? #EconSky

“China’s dramatic surge of investment into the ’new three‘—EVs, batteries, and solar—is expected to crush oil demand by 5M barrels/day by 2030. That cheaper green tech is now enabling 100+ countries to break free from … imported hydrocarbons towards the sunlit uplands of electric self-sufficiency.”

Now, that’s one way to boost employment, lower inflation, and increase out. But can he justify it with a formal model of a rational representative agent maximizing expected utility over an infinite time horizon? www.nytimes.com/2025/08/01/b...

People should pay attention not only to the July figure but to the dramatic downward revisions for May and June. Macroeconomic responses are typically much slower than people's attention spans. That includes the consumer price increases headed your way. #EconSky

The “deal” that Brown made with the Trump admin is much more extreme than is being reported. It includes government oversight of course evaluations and no barrier to government interference in faculty hiring. Read it for yourself here: www.brown.edu/sites/defaul...

Repeat after me, Y = C + I + G + (X - M) And a three percent increase in Y supported by large falls in M is not a sign of economic growth. #EconSky

Orange juice prices could rise by 20% to 25%, according to Johanna Foods, a small U.S. business suing the White House over tariffs threatened against Brazil.

🙄🙄 www.nytimes.com/2025/07/17/o...

What could possibly go wrong? #EconSky

Your periodic reminder that conventional economic discourse about "incentives" consistently tells you, (a) to be as accommodating as possible to those with wealth and power, and (b) to be as austere as possible to those without. #EconSky

The state of climate change and efforts to curb it, in one set of consecutive headlines.

The normalizing way the NYT writes about Trump’s efforts to use tariffs to obstruct justice in Brazil, and about his argument that tariffs on copper somehow will help secure access to this “strategic resource,” is super-duper extra…

I wonder if more than a century of epidemiology, immunology, and medical science have anything to say about this… NYT at its normalizing obscurantism best here.

This came out almost five years ago and, if I may say so myself, has not really gotten the attention it deserves. Both from those interested in competitive price systems, and those interested in new places where informational measures may be helpful. www.worldscientific.com/doi/10.1142/...

I need to pick a fight with many of my Post-Keynesian colleagues. Why do you so consistently fail to cite work by Marxists working on the same issues you are working on? #EconSky #OverheardAtTheNewSchool #Heterodox

I need to pick a fight with many of my Post-Keynesian colleagues. Why do you so consistently fail to cite work by Marxists working on the same issues you are working on? #EconSky #OverheardAtTheNewSchool #Heterodox

Rich and poor are not idiosyncratic characteristics of people, regions, or countries. They are relational. Not only in the sense of being measured relative to each other. But most importantly in the sense that one is causally related to the other. #EconSky #UnlearnEconomics

Difficult to express how I feel about those in our politics and media who are more concerned about what some rapper said at Glastonbury than fact that, as a matter of deliberate policy, the Israeli government is paying mercenaries to murder starving civilians for fun. www.bbc.co.uk/news/article...

Our children and grandchildren will ask where we were and what we did while all of this happened. aje.io/5vj0me

By every metric, wherever they've been trialled, shorter working weeks are better for business, workers and the economy at large.

My paper co-authored with Prof. Mark Setterfield was just published in Metroeconomica! We use an agent-based model to demonstrate the Goodwin pattern can emerge with wage-led demand regimes in a cyclical growth model -> onlinelibrary.wiley.com/doi/full/10....