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!

What happens when The Economist tries to escape from the Equilibrium Academy

DSGE Departures In one of its daring trips beyond the walls of orthodoxy The Economist is indulging in a historic turn, reflecting that "Strangely, most economic models do not treat the economy as an evolving thing, undergoing constant change. They instead describe it in terms of its equilibrium: a stable state in which prices balance … Continue reading What happens when The Economist tries to escape from the Equilibrium Academy

Geldforschung

Sammlung  zum Thema Geld(system) – historisch, philosophisch, soziologisch ,oekonomisch + Geldreformer – siehe auch : DZBG – Geld Zwischen Schleier und TabuDeGrowth auf DeutschDeutsche Heteros GeldKino“Stupid German Money” this page - top updateAutoren Geldforschung A-Z >S Keystroke-CapitalismGeldreformer A-Z  neuere oder selektierte Artikel - update 2/2022 https://gaiageld.com/2021/06/20/the-economist-entschleiert-das-endogene-geld-als/embed/#?secret=0fLRvzjY2I blogs.faz.net/fazit/  12/2020   Die Liquiditätsfalle: Mythos oder Realität?   Von John Maynard Keynes bis Hans-Werner … Continue reading Geldforschung

William Lazonick – hetero macro

x  x more Lazonick books at goodreads William Lazonick  SOAS UL AcademicIndustryResearchNetwork Related  >M Mazzucato   >pluralist macro ineteconomics.org/perspectives/blog/  2019  After Over Three Decades, Rebel Economist Breaks Through to Washington. Here’s How He Did It.    by Lynn Parramore Ever heard that a corporation’s sole duty is to maximize value for shareholders? In the go-go ‘80s, … Continue reading William Lazonick – hetero macro

A short Sociology of Bill Gates and The Mainstream 2021 H Haferkamp

    > GM post "Little Big Bill's Techno Fix"   HHpapers 2021   Zur Überheblichkeit des verfügenden Geistes und der fiktiven Naturwissenschaft der Oekonomie.  von Heinrich Haferkamp Bill Gates´ Statement, dass die Ökonomen Makroökonomie nicht wirklich verstünden, ist so treffend wie wohlfeil. Sein Monitum, dass die Ökonomie nicht das bieten könne, was die Physik (etwa mit … Continue reading A short Sociology of Bill Gates and The Mainstream 2021 H Haferkamp

“Digital Corrections – will crypto save capitalism, and the FED ?”

The FED has no way of re-balancing or raising rates without crashing the markets. The FED doesn't want to take the blame. Not again. Even though the markets are crying out for a correction.  There is no discipline. The level of incontinence is unprecedented. QE has got to stop. But how? One would like new … Continue reading “Digital Corrections – will crypto save capitalism, and the FED ?”

SUSTAINABILITY – eco- green- de-GROWTH

85% are thinking about it see also >DeGrowth  >Growth! What Growth?  >Ecological Economics   >Greenwash     >Green Finance/Investment/ESG academia.edu/gg/pdf 2022 Sustainable entropic local development: the win - win - win model by Leonidas Papakonstantinidis Sustainable_entropic_local_development_tDownload phys.org/news/ 4-2022 Consumers should cut new clothes purchases by 75% to make wardrobes sustainable - If things don't change fast, the … Continue reading SUSTAINABILITY – eco- green- de-GROWTH

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

Banking on Values

"A fool is someone who knows the price of everything and the value of nothing". Central banker Mark Carney has diagnosed a crisis in value(s). He doesn't just mean prices being misaligned with values as in frothy asset overvaluations. That's just a symptom of a deeper malaise. The central idea of his book, says the … Continue reading Banking on Values

Zahlmeister entpuppt sich als Milchmädchen

The UK's Daily Express daily feeds Brexiteers with eye-popping revelations about the imminent implosion of the EU .  One soon learns not to put one's money on those.  But the unearthing of a 2year old CEP report  caught my attention. It's got some eye-popping numbers relevant to Germany's idea of it's position in Europe : … Continue reading Zahlmeister entpuppt sich als Milchmädchen

MACRO 33 theses for an economic reformation

33 theses for an economic reformation 2017 theguardian 2017 heretics-welcome-economics-needs-a-new-reformation by Larry Elliot theguardian  2017  delving-deeper-into-an-economics-reformation  -  letters https://www.newweather.org/wp-content/uploads/2017/12/33-Theses-for-an-Economics-Reformation.pdf --------------------------------------------------------------------------------------     coppolacomment.com    2017   Thirty-three flawed Theses   Frances Coppola " ... this is my critique of the whole 33 Theses. Instead of homing in on areas where the economics profession appears have to lost its … Continue reading MACRO 33 theses for an economic reformation

Nostalgia in Economics Angel Ubide

Strict monetary and fiscal rules do not work at times of economic shock or drastic structural changes

How woke is wokism?

“The University of Glasgow has been accused of capitulating to “wokeism” after it called off a talk by an academic whose research was said to be “eugenicist”.”   The Times brimming with liberal indignation is a bit rich.  But only as rich as the typical incumbents’ complaints. Which is understandable. One is worried one is losing one’s grip on … Continue reading How woke is wokism?

Post Keynesians

Post-Keynesian Economics : An Introduction - Eckhard Hein 2014  read GM pdf here  e3me.com 7-2021 Back to our roots: E3ME and Michał Kalecki - Hector Pollitt https://neweconomicthinking.org.uk/ concertedaction.com/   The Case For Concerted Action   Post-Keynesian Ideas For A Crisis That Conventional Remedies Cannot Resolve Post - Keynesians  Joan RobinsonNicholas KaldorWynne GodleyMarc LavoieFrancis CrippsAnthony ThirlwallJohn McCombieThomas PalleyLouis-Philippe … Continue reading Post Keynesians

historical economics – history of ideas, institutional, interdisciplinary

see also > economic history daviskedrosky.substack.com 16-5-2022 The New Historical Economics is Self-Aware What does it do? Who is it for? - Davis Kedrosky amazon.co.uk 5-2021 The Handbook of Historical Economics Paperback – by Alberto Bisin, Giovanni Federico sup.org History in Financial Times (Currencies: New Thinking for Financial Times) - by Amin Samman Critical theorists … Continue reading historical economics – history of ideas, institutional, interdisciplinary

Monetary fiscal US UK Can Fed BoE BoC Brazil

maroonmacro 25-6-2022 Issue #53: The Origins and Evolution of the Modern Monetary System - Part 9: "Securitization" – Repo as a Driver of Securitization "Recall that there are a few fundamental innovations that have radically transformed our monetary and banking system in the post-WWII era: "Liability Management (a.k.a. “wholesale finance”) – the expansion of banking … Continue reading Monetary fiscal US UK Can Fed BoE BoC Brazil

Individualism bankrupt. Greed dead. Say Collier and Kay.

1999 guide designed to get America's youth interested in investing John Kay's "The Truth about Markets" and "Other Peoples' Money"  I read as entertaining eye openers about real business, finance and government. His realist observations made for a wittily scathing critique of many of the ills now bundled into neoliberalism. Colliers and Kay's bete noir … Continue reading Individualism bankrupt. Greed dead. Say Collier and Kay.

ANOTHER NOW Dispatches from an Alternative Present by YANIS VAROUFAKIS

You want to change the world? Save humanity from self-destruction? Whether or not you like Yanis Varoufakis, he does seem to have a big heart and possibly a bigger brain than most of us. Just his impressively imagined other banking system is stacked with app-to-date-details hard to keep up with. Don't be distracted by political … Continue reading ANOTHER NOW Dispatches from an Alternative Present by YANIS VAROUFAKIS

Mariana Mazzucato on a Mission

Mariana Mazzucato  “Mission Economy”- “The Enterpreneurial State" - "The Value of Everything"

DeGrowth – Décroissance for Xmas anyone?

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 – Décroissance for Xmas anyone?

MACRO next paradigm, hetero + pluralist

MACROnext - contents : hetero blogs  hetero associations, networks, organisations hetero commentary on mainstream textbooks rethink, reconstruct, reform > pluralist economics  history, philosohpy + sociology of economics wikipedia.org    Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics.  These include institutional, evolutionary, … Continue reading MACRO next paradigm, hetero + pluralist

Wiedergeburt der Politischen Oekonomie?

"Die Wertedebatte - Wie fünf Ökonominnen Wirtschaft und Politik neu verbinden."    In einem erfrischenden Deutschlandfunk Artikel serviert Antje Schrupp einen gut sortierten Ausblick über den Tellerrand des wirtschaftswissenschaftlichen Mainstreams. Sehr empfehlenswert! "Diese fünf Ökonominnen entrümpeln die Wirtschaftswissenschaften von alten Glaubenssätzen und entwickeln neue Theorien für das 21. Jahrhundert : Mariana Mazzucato,  Kate Raworth,  Esther … Continue reading Wiedergeburt der Politischen Oekonomie?

What’s the Economist’s Point of View? Adam Martin

By Adam Martin https://www.econlib.org/library/Columns/y2020/Martinpointofview.html A Liberty Classic Book Review of The Economic Point of View: An Essay on the History of Economic Thought, by Israel Kirzner. Excerpts: The narrative arc of Kirzner’s biography of economic science is the gradual shift from the study of wealth to the logic of human action. Understanding economics as the … Continue reading What’s the Economist’s Point of View? Adam Martin

Branco Milanovic

"Milanovic’s work is still the most detailed study of global inequality to date and should be read by all proponents of post-capitalist democracy..." Boris Frankel

German Resistance

Let it not be said that there is no German resistance to Black Zero Worship. Papers like DIE ZEIT have cast doubt on the wisdom of the Schwarze Null  as far back as September : "If the SPD and Union agree on one issue, then this one: The black zero must stand. The ... Chancellor and her … Continue reading German Resistance

Heiner Flassbeck – Gescheiterte Globalisierung – caw 2019

Jenseits der Synthesen des Mainstreams  Anmerkungen zu  Heiner Flassbeck's "Gescheiterte Globalisierung" (Rezensionen hier) One Man Island? Wenn man als einigermassen Angloliterturkundiger Hobby-Oekonom den Flassbeck Buchdeckel liest spürt man einen vorfreudigen Hoffnungsschimmer.  Endlich mal ein deutscher Oekonom der die heutzutage sogar schon von Billionären kritisierte Verteilunsungerechtigkeiten mit  Nicht-Mainstream Beiträgen mischt und dem deutschen Leser nahebringt? Denn bei … Continue reading Heiner Flassbeck – Gescheiterte Globalisierung – caw 2019

HETERO MACRO – Schwarze Null Widerstand

HETERO MACRO - Schwarze Null Widerstand - Deutsche Heteros und ökonomische Dissidenten     siehe auch  >DeGrowth auf Deutsch   >Geldforschung   >"Stupid German Money" zum Thema : Deutsche Ordo Ortho Oekonomie soziopolis/gg 3-2022 ..."...gerade der deutsche Diskurs zu Haushalts- und Geldpolitik scheint von den oben genannten geldtheoretischen Entwicklungen nahezu vollständig abgekoppelt. Die alte Bundesbank, seit den … Continue reading HETERO MACRO – Schwarze Null Widerstand

Lagarde Adagio Offuscato

Expect nothing but a repeat variation of  her 2012 Wolfgang Schäuble laudatio  from consummate diplomat Christine Lagarde today.  This is not the time to tell the Germans to get over their Schwarze Null fetish and spend money. Maybe there will be the odd softly spoken hint at clever new injection technology tunneling through southern debt mountains toward … Continue reading Lagarde Adagio Offuscato

Head Scratching Inflation

"Inflation ... has left many observers scratching their heads as to why the current level ...  does not match the current state of the real economy ..."  said ex ECB board member Sabine Lautenschläger in a recent speech.   The Economist discerns "strange new rules", devotes a  special report to "The End of Inflation?" and concludes that inflation is … Continue reading Head Scratching Inflation