Markets in which only a few sellers or suppliers dominate are oligopolies. What happens to prices depends on whether the companies are cooperating or competing.
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Britain remains one of only four countries in Europe where smacking children is legal — as long as it meets an ambiguous definition of “reasonable punishment.” Despite this, British movements against corporal punishment have flexed impressive muscle in recent decades: they have seen it off in the courts (1948), in the navy (1957), in prisons (1967), […]
Witches of Lychford: Night of the Gnomes! So, I’ve decided to begin a serial on Substack. And it’s going to be a sequel to my bestselling Lychford series of rural fantasy novellas! (Though it’ll be absolutely fine for those who haven’t read the books too, because we’ll re-introduce the whole concept. Though you will be spoiled for […]
Using entirely bogus pretexts, the police are deploying oppressive new laws to shut down peaceful protest. By George Monbiot, published in the Guardian 12th May 2023 The more unequal a society becomes, the more oppressive its laws must be. This, I think, explains new acts that would not be out of place in a police […]
The axioms now in use have been derived from a meagre and narrow experience and from a few particulars of most common occurrence… Nor should it count for much that … he often cites experiments. For he had come to his decision beforehand, without taking proper account of experience in setting up his decisions and […]
Biden will NOT negotiate on the debt ceiling. Well,
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A Florida professor breaks the record for time living underwater.
. So when ‘modern’ mainstream economists use their models — standardly assuming rational expectations, Walrasian market clearing, unique equilibria, time invariance, linear separability and homogeneity of both inputs/outputs and technology, infinitely lived intertemporally optimizing representative agents with homothetic and identical preferences, etc. — and standardly ignoring complexity, diversity, uncertainty, coordination problems, non-market clearing prices, real […]
Today (May 17, 2023), the Australian Bureau of Statistics released the latest – Wage Price Index, Australia – for the March-quarter 2023, which shows that the aggregate wage index rose by 0.8 per cent over the quarter (steady) and 3.7 per cent over the 12 months. The media are touting how strong the wages growth…
Here’s a short thread from Catherine Rampell of the Washington Post spelling it out in a nutshell: What’s in this supposedly commonsense bill McCarthy is demanding in exchange for not destroying the global economy? Here’s my handy guide, for those interested in the substance of the legislation and not just political gamesmanship. 1. Unspecified across-the-board cuts to nondefense discretionary spending, down by one-third on average in 2024, after inflation. The cuts would then expand to roughly 59%, on average, by 2033 Does this mean WIC? Border security? Pells? FBI? No one knows https://www.washingtonpost.com/opinions/2023/04/25/mccarthy-national-debt-limit-budget/ 2. Defund the tax police – make it harder for IRS to collect taxes legally owed by wealthy/corporate tax cheats, and set back the agency’s other IT upgrades. (Would also increase deficits) https://www.washingtonpost.com/opinions/2023/04/20/gop-defund-irs-debt-limit/ 3. Medicaid work requirements – which sound nice, but are a solution in search of a problem.
“Ukraine’s neoliberalism on steroids, Europe’s economic suicide,” Geopolitical Hour 9, May 15, 2023. https://www.youtube.com/watch?v=6bF3QkHIB7I RADHIKA DESAI: Hello everyone and welcome to this ninth Geopolitical Economy Hour, the fortnightly show on the political and geopolitical economy of our times. I’m Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson. RADHIKA DESAI: And today we have a special Continue Reading The post Neo-Liberal Machine Corners Ukraine, EU first appeared on Michael Hudson. As Australia’s new suburbs continue to accommodate much of the country’s population growth, it becomes crucial to adapt housing and services to meet the evolving demands of their growing share of maturing families and single...Parliament is spending £100 million a year – a staggering £2 million of taxpayers' money every week – patching up repairs, while next steps on its renovation are still to be decided
 By 2041, our forecasts show Australia will have 624,000 more school-aged children than it did in 2021; 252,000 primary school-aged (5-11), and 372,000 secondary-school aged (12-17). And every one of these children will need...Mr. “Never Back Down” backs down These Republicans are too much. You wonder if they really think they can win this way and then realize they don’t. They’re just hoping he ends up in jail or embalmed: The leading pro-DeSantis PAC surprised the political world with a single tweet after Donald Trump’s CNN town hall last week. It bluntly called out the former president for his answers on January 6th, his “rigged” election claims, “the sex abuse case” he was found liable for damages over, “his defense of his comments about grabbing women by their genitals,” and investigations into “his stash of taxpayer-owned classified documents.” “How does this Make America Great Again?” the tweet from the official account of Never Back Down concluded. This was the kind of all-out critique of Trump that Ron DeSantis — and most of the 2024 field — have never made themselves. Don’t expect to hear it again, though: The tweet generated some heated internal pushback at Never Back Down, while multiple prominent conservative commentators piled on publicly.
KILTS on and bagpipes blown up, the Coffs Harbour Pipe Band members headed off recently to attend and compete at the Australian Celtic Festival in Glen Innes over the weekend of 4 – 7 May. 23 Members played in various bands, including the NSW Highlanders, Murrumba Pipe Band and Grafton Pipe Band. This, the 31st... The post Coffs pipers play at Australian Celtic Festival at Glen Innes appeared first on News Of The Area. Unemployable former PM, Scotty from marketing, has suffered another setback after being turned down for a job with Engadine Maccas. This comes hot on the heels of bad guy consulting company PWC also turning Scotty down for a job, saying... Read More ›
Success in nature and culture depends just as much on timing as it does on brilliance. The post The World Is Full of Sleeping Beauties appeared first on Nautilus. Syrian-American journalist Hekmat Aboukhater traveled across Homs, Lattakia, Tartous, and Aleppo this April, reporting for The Grayzone on the devastating impact of Western economic sanctions on average Syrians. Throughout 2023, a series of anti-Syrian refugee bills, a failing economy, and anti-Syrian rhetoric have deepened the plight of the two million Syrian refugees living in Lebanon. Hate crimes against Syrians suspected of living in the country illegally have skyrocketed, while at least 130 refugees have been deported. Weekly Israeli strikes have […] The post Immiserated, humiliated, yet resilient: how Syrians survive America’s economic siege appeared first on The Grayzone. | ||
