hetero highlights > Monetäre Kriegsführung – global supply chains at war – Austrian war propaganda – US sabotage for quants – Dutch monetary enlightenment – global post neo-liberal economics – diversity and disaggregation – Covid democracy in Cuba – Marxist revival in Japan

Monetäre Kriegsführung - global supply chains at war - Austrian war propaganda - US sabotage for quants - Dutch Monetary Enlightenment - global post neo-liberal economics - diversity and disaggregation - Covid democracy in Cuba - Marxist revival in Japan

Breaking Old News: HIERARCHY REDISTRIBUTES INCOME – US Inequality for Quants – by Blair Fix

Watch Blair Fix talk about how corporate hierarchies create income inequality, and make the rich get richer. "This paper explores the idea that the (re)distribution of top incomes is uniform because it is shaped by a ubiquitous feature of social life, namely hierarchy. Using a model first developed by Herbert Simon and Harold Lydall, I show … Continue reading Breaking Old News: HIERARCHY REDISTRIBUTES INCOME – US Inequality for Quants – by Blair Fix

Real World Economics Review Out Now

This review serves up some excellent articles, including CasP's Blair Fix on the "Ritual of Capitalisation", John Komlos on the US economy, and Radhika Desai with Michael Hudson on the "Dollar Creditocracy". But it is Ib Ravn's "educational" article on banking, money creation and credit money that stands out as a uniquely comprehensible introduction to the real existing money system. Highly recommended!

Essentialism and Traditionalism in Academic Research – CasP – R Kyger, B Fix

Essentialism and Traditionalism in Academic Research discussion "Marshall’s conception of equilibrium as expressed in the scissors diagram had much merit as a way to look at certain kinds of social interactions. However, it never should have been elevated to an essential truth of human relating. Marshall himself knew his model of the market was overly … Continue reading Essentialism and Traditionalism in Academic Research – CasP – R Kyger, B Fix

Greta, Mnuchin and PlanB

A year ago, when The Virus was still a fuzzy rumour,  one was already plagued by the puzzle of the three zeros :  the skeletal numbers of no interest and near nil inflation lined up for a danse macabre around the grave of zombie growth. Never seen this before. This is different. This can't be … Continue reading Greta, Mnuchin and PlanB

(im)perfect MARKETS: market power, monopoly, antitrust

see also > big tech >markets now and then, valuation ft.com  4/12/2021  Travel industry cries foul over unstoppable rise of Google ft.com  4/12/2021  Quebec’s maple syrup cartel should be sweeter ft.com  11/2021  Indra Nooyi: ‘Companies like ours are little republics’ economicsfromthetopdown.com/   2021/09/29  How Dominant are Big US Corporations?  Blair Fix …”I recently had a lively Twitter debate with Jonathan … Continue reading (im)perfect MARKETS: market power, monopoly, antitrust

Inflation? Inflation!

inflation always monetary? - mainstream and hetero theories of inflation, how to measure inflation - decompose observed inflation into its monetary, demand-pull, cost-push and structural components - Inflation is a monetary and redistributional phenomenon

Matthew Effect – inequality

Daniel Rigney   The Matthew Effect "The old saying does often seem to hold true: the rich get richer while the poor get poorer, creating a widening gap between those who have more and those who have less. The sociologist Robert K. Merton called this phenomenon the Matthew effect, named after a passage in the gospel … Continue reading Matthew Effect – inequality

philosophy of SCIENCE – epistemology

>consensus theory of truth, H Ahrendt, J Habermas, JA Schumpeter, communicative competence journals.sagepub.com / 2020 Truth, lies and tweets: A Consensus Theory of Post-Truth - by Vittorio Bufacchi Abstract - This article rejects the received view that Post-Truth is a new, unprecedented political phenomenon. By showing that Truth and Post-Truth share the same genesis, this … Continue reading philosophy of SCIENCE – epistemology

INEQUALITY

GM posts/pages on inequality 5-2022 (IN)EQUALITY now(ish)4-2022 Inequality – The Long View3/2021   Fed's QE feeds Matthew Effect6/2020  The Unequal Mr Picketty4/2020   Covid : Billionaires Chip In A Trilliongg page Branco  Milanovic  Inequality see also theguardian.com/inequality inequality.org/The Journal of Economic Inequality articles etc updated 8-2022 gaiageld.com 8-2022 Inequality in Latin America is fuelling a new wave … Continue reading INEQUALITY

MMT Modern Monetary Theory

MMT portal page - updated library of articles, books, videos, posts and pages on 1/2021 De-facto MMT disequilibrating DSGE ?9/202o German Economist Sees MMT MMT Across the Sea9/2019 Apropos of MMT2/2019 MMT and Millennial SocialismUS/UK  Monetary/FiscalEURO Monetary/Fiscal MMT/monetary fiscal articles   (updated 4/2022)   scroll or use ctrl+f  to search for topics or names mauricehoefgen.substack.com 3-2022 Das … Continue reading MMT Modern Monetary Theory

DeGrowth or Décroissance anyone? (not just for Xmas)

degrowth updates here Décroissance, or degrowth, is a story of hope amidst adversity. Just like Xmas. Born of the adversities of a poisoned and plundered planet, degrowthers say "No! No More! Let's get out of the Old National Market Hall of Sickly Scarcity and into the New Global Banquet Hall of Happy Abundance... Yes, contrary … Continue reading DeGrowth or Décroissance anyone? (not just for Xmas)

GROWTH! What Growth?

GROWTH! What Growth? intro/featured/selected – updates here - +here Alf Hornborg writes in his article “How to turn an ocean liner”:  “Although soon reduced to a heterodox and marginalized position, the critique of growth has continued to challenge mainstream dogmas of economics and policy for over four decades. Countless debates have raged on what exactly is the problem … Continue reading GROWTH! What Growth?

Stiglitz wants GDP retired

"It's time to retire metrics like GDP." writes Joseph Stiglitz in The Guardian. "The way we assess economic performance and social progress is fundamentally wrong, and the climate crisis has brought these concerns to the fore." Indeed. Always nice to hear the reforming voices. Apparently another revised book of alternative measurements has just been published. … Continue reading Stiglitz wants GDP retired