Reforming economics

from Lars Syll The typical economics course starts with the study of how rational agents interact in frictionless markets, producing an outcome that is best for everyone. Only later does it cover those wrinkles and…

US claimants recovery stalls

Today, I celebrate – my home town of Melbourne has recorded zero new infections for the first time since June 9, 2020 and zero deaths. But things are not so hot elsewhere in the world.…

Sunday morning rituals

One of yours truly’s Sunday morning rituals is reading the obituary column of The Telegraph. This obit is rather typical: Peter Scott, who has died aged 82, was a highly accomplished cat burglar, and as Britain’s most prolific…

The Weekend Quiz – October 24-25, 2020 –…

Here are the answers with discussion for this Weekend’s Quiz. The information provided should help you work out why you missed a question or three! If you haven’t already done the Quiz from yesterday then…

The time trend in global inequality

Home > Uncategorized > The time trend in global inequality The time trend in global inequality from James Galbraith and Jaehee Choi and The Inequality Crisis Inspection of trends and changes in inequality gives a strong clue…

The time trend in global ineuality

Home > Uncategorized > The time trend in global ineuality The time trend in global ineuality from James Galbraith and Jaehee Choi and The Inequality Crisis Inspection of trends and changes in inequality gives a strong clue…

The Weekend Quiz – October 24-25, 2020

 RSS feed billy blog MMT Macroeconomics Textbook – March 2019 Now available for purchase – For details. 2017 book Reclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World Co-authored with Thomas Fazi.…

What is ‘effective demand’?

from Lars Syll Economists of all shades have generally misunderstood the theoretical structure of Keynes’s The General Theory. Quite often this is a result of misunderstanding the concept of ‘effective demand’ — one of the key…