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Created
Tue, 05/03/2024 - 21:26
Despite the rise of behavioral economics, many economists still believe that utility maximization is a good explanation of human behavior. Although evidence from experimental economics and elsewhere has rolled back the assumption that human agents are entirely self-interested, and shown that altruism and cooperation are important, a prominent response has been to modify individual preference […]
Created
Tue, 05/03/2024 - 19:42

Few Marxist thinkers were more committed to socialism’s internationalist programme than Rosa Luxemburg. She was Jewish, Polish, and German, but her one and only “motherland” was the Socialist International. It is true, however, that this radical internationalism led her to take questionable positions on the national question. For instance, concerning her native country, Poland, she […]

Created
Tue, 05/03/2024 - 18:35
To yours truly, the real value of Appelbaum’s meticulously researched history of how economists have come to increasingly influence public policies in modern societies, is that it shows how fundamentally ideological economics is. Of course, you never hear anyone at our seminars telling the lecturer that the assumptions on which his models are built are […]
Created
Tue, 05/03/2024 - 11:30
For all you political junkies out there, here’s Bolts Magazine’s fantastic Super Tuesday breakdown of important races: 2024 is starting off fast: Tuesday, March 5 is one of the busiest election days on the calendar this entire year. It’s just the first with non-presidential primaries on the ballot, but it’ll take care of roughly 25 percent of all House districts, in one fell swoop! That’s because California and Texas, the two most populous states, are holding all their primaries, as are Alabama, Arkansas and North Carolina. Across these five states, millions of voters will decide critical state and local offices, referendums and bond measures. Plus, Vermont municipalities are holding their town hall days. (And that’s not all: Ten other states hold their presidential primaries, but voters will have to head back to the polls later this year for down ballot offices.) So buckle up for a crowded election day.  To help you, Bolts has identified more than 50 items to watch on Super Tuesday, and why they matter, including key races for supreme courts, governors, DAs, mayors, and lawmakers, plus referendums. On the menu?
Created
Tue, 05/03/2024 - 11:25
Australian Prime Minister Anthony Albanese is one of several Western leaders who have provided political and material support of the Israeli government and military over the past five months as their bombardment of Gaza has killed more than 30,000 people, but on Monday he became the first to be referred to the International Criminal Court for being Continue reading »
Created
Tue, 05/03/2024 - 09:00
Their corporate benefactors made out like bandits. Everyone else? Not so much. Gird yourself. Shocking News. The GOP tax cuts didn’t pay for themselves: The corporate tax cuts that President Donald J. Trump signed into law in 2017 have boosted investment in the U.S. economy and delivered a modest pay bump for workers, according to the most rigorous and detailed study yet of the law’s effects. Those benefits are less than Republicans promised, though, and they have come at a high cost to the federal budget. The corporate tax cuts came nowhere close to paying for themselves, as conservatives insisted they would. Instead, they are adding more than $100 billion a year to America’s $34 trillion-and-growing national debt, according to the quartet of researchers from Princeton University, the University of Chicago, Harvard University and the Treasury Department. The researchers found the cuts delivered wage gains that were “an order of magnitude below” what Trump officials predicted: about $750 per worker per year on average over the long run, compared to promises of $4,000 to $9,000 per worker.