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Wed, 15/02/2023 - 10:18
I have a new paper on how we conceptualize the supply side of the economy, coauthored with Arjun Jayadev. I presented a version of this at the Political Economy research Institute in December 2022. You can watch video of my presentation here — I come on, after some technical difficulties, around 47:00. (The other presentations from the conference are also very worth watching.) The paper will be published in the upcoming issue of the Review of Keynesian Economics. (The linked version is our draft; when the published version comes out I’ll post that.)

Our fundamental argument is that while macroeconomic supply constraints are normally conceptualized in terms of a level (or level-path) of potential output, in many contexts it would be better to think in terms of a constraint on the rate of change — a speed limit rather than a ceiling.…
J. W. Mason's Blog
New Paper: Rethinking Supply Constraints
JW Mason | Assistant Professor of Economics, John Jay College, City University of New York

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Wed, 15/02/2023 - 09:30
They always are Krugman reminds us of the history: But, of course, many Republicans do want to eviscerate these programs. To believe otherwise requires both willful naïveté and amnesia about 40 years of political history. First of all, if Republicans had absolutely no desire to make major cuts to America’s main social insurance programs, why would they sunset them — and thus create the risk that they wouldn’t be renewed? As Biden might say, c’mon, man. And then there’s that historical record. Two things have been true ever since 1980. First, Republicans have tried to make deep cuts to Social Security and Medicare every time they thought there might be a political window of opportunity. Second, on each occasion they’ve done exactly what they’re doing now: claiming that Democrats are engaged in smear tactics when they describe G.O.P. plans using exactly the same words Republicans themselves used. So, about that history. It has been widely forgotten, but soon after taking office Ronald Reagan proposed major cuts to Social Security.
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Wed, 15/02/2023 - 08:00
This should be lit: House Republicans have asked former White House chief medical advisor Dr. Anthony to testify before Congress as they launch a new investigation into the origins of the Covid-19 pandemic. The GOP leaders of the Select Subcommittee on the Coronavirus Pandemic and Committee on Oversight and Accountability sent a letter to Fauci on Monday requesting a transcribed interview. Fauci said in November that he would cooperate with any oversight hearing in the Republican-led House. “If there are oversight hearings I absolutely will cooperate fully and testify before the Congress,” Fauci told reporters during his final briefing at the White House. “I have no trouble testifying — we can defend and explain everything that we’ve said.” Fauci, one of the nation’s top infectious disease experts, was the public face of the U.S. pandemic response during the Trump and Biden administration. He stepped down from his posts at the White House and at the helm of the National Institute of Allergy and Infectious Diseases in December. House Republicans also sent letters requesting testimony from EcoHealth Alliance President Dr.
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Wed, 15/02/2023 - 05:59
In a 2016 piece about the mass shooting at Orlando’s Pulse nightclub, I wrote: But there is something about [Orlando] that screams “Last call for sane discourse and positive action!” on multiple fronts. This incident is akin to a perfect Hollywood pitch, writ large by fate and circumstance; incorporating nearly every sociopolitical causality that has been quantified and/or debated over by criminologists, psychologists, legal analysts, legislators, anti-gun activists, pro-gun activists, left-wingers, right-wingers, centrists, clerics, journalists and pundits in the wake of every such incident since Charles Whitman perched atop the clock tower at the University of Texas and picked off nearly 50 victims (14 dead and 32 wounded) over a 90-minute period. That incident occurred in 1966; 50 years ago this August. Not an auspicious golden anniversary for our country. 50 years of this madness. And it’s still not the appropriate time to discuss? What…too soon? All I can say is, if this “worst mass shooting in U.S.
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Wed, 15/02/2023 - 05:00

There are a lot of things you should be afraid of—vaccines, chemtrails spreading airborne vaccines, malfunctioning Katy Perrybots—but there’s no need to be scared of using a semicolon (unless you’re using one in a 5G text—then you might as well just give yourself COVID). To show a mastery of this mysterious piece of punctuation is to join the likes of writers at the New Yorker, Nobel laureates, and the elite who make up the world’s secret societies such as Yale’s Skull and Bones Society or Harvard’s Pelvis and Ligaments Club. Please read on, as I’ve prepared clear explanations on when and why to use this enigmatic symbol.

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Wed, 15/02/2023 - 04:58
Scheduled for the 2040s, while the AUKUS nuclear-powered submarines might never eventuate, the theatre surrounding the announcement provides a publicly-digestible narrative for the surrender of Northern Australia to the American military in the present day. Time to talk about time and submarines. Time is the most salient consideration in the AUKUS nuclear-powered submarines debate. The Continue reading »
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Wed, 15/02/2023 - 04:57
Six years ago, John Menadue, Robert Manne, Tim Costello and I agreed that Australia’s refugee and asylum seeker policy was in a complete mess. The trouble started with the 2013 election campaign when Kevin Rudd and Tony Abbott tried to outdo each other, pledging that the boats would be stopped and that anyone headed for Continue reading »
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Wed, 15/02/2023 - 04:56
Surely the Australian people are entitled to an explanation as to why in December last year the government voted against an International Court of Justice advisory opinion on the legality of Israel’s occupation of Palestine. On 30 December a vote was taken in the UN General Assembly whereby the International Court of Justice (ICJ) was Continue reading »
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Wed, 15/02/2023 - 04:54
There are very sound strategic reasons to continuously build and maintain heavily automated missile frigates and Air Independent Propulsion conventional submarines in Australia, as an alternative to spending $150B-$200B on unmaintainable AUKUS Nuclear Submarines. “I do not say, my Lords, the French will not come, I only say they will not come by sea” John Continue reading »
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Wed, 15/02/2023 - 04:52
The Order of Australia system is a bunyip aristocracy that reflects the hierarchies of British society in which the high and mighty get the cream and others are left with the skimmed milk. Just before the country slipped into its raucous celebrations for Australia Day last month, Mr David Hardaker served up in Crikey a Continue reading »
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Wed, 15/02/2023 - 04:51
Pearls and Irritations is essential reading for anyone interested in public policy analysis. In some fields it is not the only source of opinion and commentary, but its writers are more often come to the subject with deeper experience, including from years in the bureaucracy, academia, and the public square, and with a more firm Continue reading »
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Wed, 15/02/2023 - 04:50
It would be a grave mistake for Beijing to respond in kind in the face of incessant provocations and escalations by America and its allies. Western countries, especially those in the Anglo-American sphere love to drum up exaggerated claims about China’s economic coercion and geopolitical threat. But compared to the often genocidal or starvation-level sanctions Continue reading »
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Wed, 15/02/2023 - 04:30
But you don’t blow anyone’s mind JV Last at the Triad (subsc. only —) says that Nikki Haley would be “fine” as president and I’m not going to argue because I don’t think she would be fine at all. She’s a creature of the Republican party and it is a toxic, neo-fascist institution that taints anyone who seeks to represent it. Sorry, that’s just how it is. And Last makes that case for me when he discusses why Haley has no chance in hell: I think the jury is still out on DeSantis. He’s just a name to a lot of Republicans. In fact, there are a good number who can’t tell the difference between him and George Santos.