- by David J Siegel
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- by Amelia Anthony
So in what sense is this “dynamic stochastic general equilibrium” model firmly grounded in the principles of economic theory? I do not want to be misunderstood. Friends have reminded me that much of the effort of “modern macro” goes into the incorporation of important deviations from the Panglossian assumptions that underlie the simplistic application of […]
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October 30th, 2023: Two comics in a row On October 26, 2023, the US Bureau of Economic Analysis published the latest US National Accounts figures – Gross Domestic Product, Third Quarter 2023 (Advance Estimate) – which showed that “Real gross domestic product (GDP) increased at an annual rate of 4.9 percent in the third quarter of 2023”. The June-quarter 2023 growth rate was…
(14 Nov update) I got this badly wrong. Johnson followed the same path that doomed McCarthy, passing a short-term fix with Democratic votes. It’s hard to see why the Republicans went through all these contortions to end up where they started. Government shutdowns, and threats of shutdown, have become routine in the US, with the […]
The Prime Minister Anthony Albanese has opened up his press conference today with a greeting of good morning. This has resulted in the Opposition leader, Peter Dutton putting out a press release condemning the PM for failing to include good... Read More ›
When humans embrace the dehumanization of others, we release our ugliest, most destructive selves. Dehumanization is a perverse force that propagates violence and justifies the lust for war and its atrocities. On August 6, 1945, Sakue Shimohira was 10 years old when an atomic blast obliterated her home in Hiroshima, Japan, burning her mother into an unrecognizable block of ash. Afterward, the only feature that could identify her was a single gold tooth. Sakue struggled to survive in Hiroshima’s post-apocalyptic, postwar landscape, while her older sister soon fell into despair and threw herself in front of a train. When the American soldiers of the occupying army arrived, Sakue remembered that they constructed an airstrip in front of the shack where... Read more Source: The Dehumanization of War appeared first on TomDispatch.com. Week-end Wrap – Political Economy – October 29, 2023 by Tony Wikrent
Is There a New Left Stirring Within The New Right? John Judis [The Liberal Patriot, via Naked Capitalism Water Cooler 10-24-2023] The US is the ‘essential nation’, the ‘indispensable nation’, its leadership ‘holds the world together’. This is the boastful humbug that President Biden gave us on his return from Israel, where he again affirmed his complicity with Israel in its decades of occupation, ethnic cleansing and genocide in Palestine. The US assumes a moral superiority Continue reading »
Today’s Melbourne Herald Sun carries a story that, along with other former Australian Prime Ministers, I will be a signature to a statement drafted by The Zionist Federation of Australia, condemning the attack by Hamas on Israel. This report is without foundation and is untrue. Mark Leibler contacted me earlier last week proposing the prospective Continue reading »
Industrial transformation has accelerated China’s rise as a global power. In the New Era, which was officially recognised in the Chinese national constitution in 2017, the narrative of national rejuvenation is writ large: it underpins the Community of Shared Future, the Belt and Road Initiative (BRI), and China’s various soft power campaigns. Cultural and media Continue reading »
It is now the case that Australia’s alliance with the United States is best described as the Great Harmonisation. On all principal matters of strategic interest – especially in all fundamental aspects of China as the “pacing threat” – the overwhelming impression is that, though Washington and Canberra are spatially separated, they nevertheless speak and Continue reading »
The Australian Institute of Health and Welfare released its latest health expenditure data last week showing the Commonwealth share of government public hospital funding has declined to 41%. This will fuel state anger and make negotiations for a new funding agreement, to take effect in mid-2025, that much harder. A constant of Australian health policy Continue reading »
Any talk about disability in Australia is very likely to quickly lead to mention of ‘the System,’ which controls everything in the lives of People With Disability. This phrase comes from Australia having started its European settlement period as a British penal colony, so we inherited ‘the System’ as a foundation stone of our society. Continue reading »
The elephant can only be ignored for so long: we need to talk about academics. Rather like journalists, academics exhibit a profound mismatch between self-image and reality. Everybody has heard by now that British higher education is in a parlous state. Indebted students. Overworked staff on squeezed pay. Misery all round. The question is who Continue reading »
On Valentine’s Day next year, Indonesia will go to the polls for its most important election in ten years. The incumbent president, Joko Widodo (known as “Jokowi”), has built a broad supporting coalition of political parties and oligarchs, which has delivered stability but also power and wealth for a small elite. He has also presided Continue reading »
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