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Economics
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"There are six major changes in the global capitalist economy since the 1970s that increase the potential fragility, instability, and the amplification and propagation rate of the fragility-instability events"
Caitlin Long with some interesting musings on Facebooks predicted cryptocurrency venture
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Modern Monetary Theory (MMT) — Discussion and Resources
Here's a series of lectures on MMT presented in 2018 by L. Randall Wray (Levy Economics Institute, Bard College) at the University of Campinas, Brazil. Each of the lectures is 2+ hours long with a bibliography and a link to download the slides. Links and details on the texts and Via the MMT discord server - fairly new and small but it might pick up after a while. Link to join here: https://discordapp.com/invite/y6bz6Bd ...Read More
Im not sure what to make of all this. Many media stories have been foreshadowing how Trumps tariff actions might spark the next "great depression" or a moment that shares economic similarities. Like any ecosystem or chain, everything seems so fragile, but when it comes to nuclear energy and oil ...Read More
"Our reading of this special issue of the Journal of Industrial Ecology, leads us to conclude that there are two major gaps in the Circular Economy’s relevance for achieving global sustainability. It has not developed language or methods, or necessarily acknowledgement, of the need to shrink and slow material throughput… ...Read More
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Tracking Chinese Shadow Banking? ...Read More
This looks super in-depth but haven't spent much time with it: https://www.bis.org/publ/work701.pdf
How much of public debt is fake and should be *cancelled*? "Historically, the population has never been properly informed regarding the public debt that it pays for through government spending …public debt has not been used to finance collective needs…it has been a mechanism to transfer public resources to the private financial sector. This is what we call the “Debt System” ...Read More
This is a good article to read in conjunction with this one: https://www.bloomberg.com/news/articles/2019-05-22/economics-reinvents-itself-every-few-decades-it-s-happening-now Seems like there might not be too much room to go back to the way things were before in case another recession hits. ...Read More
With interest rates close to zero in the US and at zero in Japan and Europe governments will have no choice but to rely on quantitative easing if another recession arrives. This goes along with the MMT theory that as long as inflation doesn’t increase governments don’t need to worry There are risks of politicizing government spending and politicians doing as they please for political reasons. I’m curious what happens if inflation does rise, will the Fed stop buying gov bonds prompting politicians to rein in spending? Or will the power of the Fed be eroded? ...Read More
“The tax cuts did almost nothing for ordinary Americans and may even have cost them money. The apparent gains in their income were negligible and short-lived. Wealthy Americans reaped the benefits of lower taxes and higher dividends. The cuts had a negligible effect on U.S. economic growth while depriving the ...Read More
"These commercial data exchanges extend the exploitation inherent in the current system by incentivizing passivity. The model is one in which an individual’s agency extends no further than saying, Yes, I consent to sell this amount of my data to this company for this reason or No, I will keep The assumption is that our identities are like land in which a mineral deposit has been found: Data exchanges offer us the chance to sell mining rights." ...Read More
"“My favorite epoch in the development of Dwarf Fortress is when there was a feature where lower-ranking nobles that move into your fortress would eventually mandate the establishment of a market-based "dwarven economy"”"
“According to the company’s proxy statement, the median employee was a part-time restaurant crew worker... who made $7,017. The ratio was 3,101 to 1. In other words, it would take that employee 3,101 years to match Easterbrook’s 2017 compensation... Even keeping qualifiers in mind, the disparities are massive. And in the U.S., almost 52% of fast food workers are on public assistance. They can’t make enough money to live on. Many thousands of workers are at the poverty line while CEOs are wealthy. It’s effectively a subsidy from government ...Read More