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We’re stripping economics back to basics,” she says. “We want economics to ask: ‘Who owns these resources? Who has power in this company?’ Conventional economic discourse obfuscates these questions, to the benefit of those with power.”
It is possible for a democratic economy to be built in the here and now, from the bottom up, whilst embedding the ability to both scale and amplify collective forms of ownership and governance elsewhere. While PCPs are only one part of this project, their operation will help facilitate the ...Read More
*I am not a Nick Szabo fan* His blog is a very valuable resource for the historical analysis of money.
"The U.S. Treasury saw a 31 percent drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall, down by almost 9 percent or $11 billion."
"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"
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
“The unprecedented designation of foreign vehicles imported to the United States from some of its closest allies sparked anger from automakers, dealers and foreign governments after a White House document hinted it would seek voluntary export quotas on autos from U.S. trading partners.”
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US Monetary Policy — Discussion and Resources post links / thoughts about US Monetary policy here