Reading

Created
Thu, 12/03/2026 - 20:06

The British pub, in all its rich diversity and versatility, has long been an undisputed central component of life on this island. Despite this, hospitality as a sector has been historically neglected as a site of political and industrial struggle, instead playing host to drinking sessions after the ‘real work’ has taken place.  Nonetheless, the sector […]

Created
Thu, 12/03/2026 - 18:04
Yes, the Americans and Israelis are inflicting a lot of damage. But that damage does not appear to be degrading the military enough to really matter. It’s mostly hitting civilians. There is zero possibility of stopping Shahed drone production, they are made with fiberglass bodies, there are hundreds if not thousands of facilities which can […]
Created
Thu, 12/03/2026 - 16:59
Regular readers will know that I hate the term NAIRU – or Non-Accelerating-Inflation-Rate-of-Unemployment – which is a concoction invented by mainstream economists to maintain unemployment at elevated levels (to keep the working class in its place) and give cover to central banks to run monetary policies that redistribute income from poor to rich. If you…
Created
Thu, 12/03/2026 - 09:04
I have to admit that I am not at all sure of the date of International Women’s Day. It seemed to be every day of the past week or so. Which perhaps ought to be the case every damn week. So it seems timely to tell you about the current issue (Volume 35) of Women’s History […]
Created
Wed, 11/03/2026 - 16:43
~by Sean Paul Kelley Every credit cycle is different: they don’t repeat, but they do rhyme at the end. Phase One: the Expansion The credit cycle begins when intense speculation drives asset prices into bubble territory. This time around AI is the prime mover.  AI stocks have clearly inflated, irrationally, and dangerously market averages. Nvidia’s […]
Created
Wed, 11/03/2026 - 05:03
In earlier blog posts, yours truly has discussed the problems of confounding and ‘overcontrolling’ in causal analysis. A good illustration of how attempts to control for additional variables can sometimes worsen rather than improve causal estimates is the so-called M-bias problem. Let me give an example from economics to illustrate the issue. Estimating causal relationships […]