I’m getting a prize in economics myself this week—the Friede-Gard Prize for Sustainable Economics—and I was going to ignore the Nobel Prize for Economics, which is always awarded to economic insiders rather than rebels like me. But then they gave it to Ben Bernanke. This was just too much: to me, it was like awarding … Continue reading "The Nobel Prize for Mediocrity and Irrelevance Goes To…"
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The fact that the Friede-Gard Prize is awarded in Trier, the town where Karl Marx was born, is entirely coincidental: it just so happens that the creators of the Prize (which began in 2021) live near Trier. Nonetheless, it’s a fitting coincidence for me to receive the prize here, since my academic career began with … Continue reading "Receiving the Friede-Gard Prize in Marx’s home town"
As a close friend and colleague of Michael Hudson (Hudson 2004, 2018), I was aware of much of the content of David’s Debt: the First 5000 Years (Graeber 2011) before I read it. But David weaved the tale of debt into the recorded history of humanity in a way that made it revelatory, even to … Continue reading "Tribute to David Graeber"
There’s a popular belief that capitalism succeeds because it enables the best product in any industry to survive, while the poorer products lose out. There’s also a popular belief that the market leads to “lock-in”: an inferior concept will come to dominate a product space, and improvement becomes impossible because all subsequent developments are forced … Continue reading "How Capitalism Kills Good Software"
A recent episode of the Debunking Economics podcast annoyed quite a few people, and I couldn’t be happier. The episode, shown and linked in the graphic below, considered the sustainability of the economic growth that capitalism has spawned over the last 250 years (hint: it isn’t), and as part of it, I took a swipe … Continue reading "Who reads whom in economics?"
I’m in the middle of a large consulting project on economics and climate change, and I’m also developing and delivering a set of seven “Mastermind” lectures, which you would have seen advertised on social media (a marketing firm is handling the messaging, which is why some people have thought it’s not me putting out the … Continue reading "Using accounting to prove the core propositions of MMT and Endogenous Money"
“I fancy that over-confidence seldom does any great harm except when, as, and if, it beguiles its victims into debt.” (Fisher 1933, p. 341) The man who penned those words wrote them from bitter experience. Irving Fisher, who is far better known for the statement that “Stock prices have reached what looks like a permanently … Continue reading "Margin Debt at Levels Not Seen Since the Peak of the Roaring Twenties Mania—and Falling"
Ron Filipkowski is one of the most prolific tweeters of right wing freak show out there and it’s endlessly entertaining (if also kind of terrifying.) He compiled what he considers to be his top 100 right wing tweets and they are something else. I’ve put the top 25 here for your enjoyment: #25. At a Trump rally, kid is asked what he most looking forward to at the event. Kid goes off the rails on his MAGA parents with his answer: “To see Joe Biden.” #24. Returning home to Huntington Beach, OAN host loses her mind when she sees that they are flying a Pride flag from a city building. #23. The opening “prayer” at Eric Trump & Michael Flynn’s event, they ask for Jesus to let Trump know when the time for divine intervention has come for him to resume the presidency, and for God not to “surround him with Deep State, RINO trash.” Amen. #22. MAGA congressional candidate Martin Hyde, endorsed by Michael Flynn & Roger Stone, throws down his white privilege card and goes full “do you know who I am,” then threatens to get her fired because she dared to give him a speeding ticket. #21. Marge Greene defines what a woman is.
In case you are staying home tonight and wondering what you might watch on TV, forget Andy and Anderson and don’t bother with Ryan Seacrest. Have I got the show for you! What a fun bunch! But you might want to lay in a bigger than usual supply of champagne and Advil and maybe think about having some shots to start you off. You’re going to need them. Here’s a taste of what you might expect from the Baptist preacher Mike Huckabee: Happy New Year?
No history this time, folks; just a story. A story of a time when entertainment wasn’t on tap, when anyone wanting to watch a movie either had to go to the cinema (ew), wait for it to be shown on tv (double ew) or head down to that ghost of the recent past, the video […]