I have been twittering a chart this morning which puts inflation alongside the net profit rate. Net profit rate = Corporate profits/GDP – effective Fed rate This measure is based on Keynes Marginal Efficiency of Capital. MEC. As net profit rates went down in the 1970’s, firms felt pressure to raise prices to protect their […]

 by Joseph Joyce The Impact of Financial Globalization on the Brexit Vote The reasons for the majority vote in favor of the United Kingdom leaving the European Union will be studied and analyzed for years to come. Globalization in the form of migration—or fear of migration—played a considerable role. Support for leaving the EU was […]

Via Alternet: “Reigniting Competition in the American Economy”: Keynote Remarks at New America’s Open Markets Program Event By Elizabeth Warren June 29, 2016 Thank you, thank you. As Barry mentioned, before I was a senator, I was a law professor. What he didn’t say is that I taught contracts, secured transactions, and bankruptcy—all courses related […]

A couple weeks ago, I found the work of Anwar Shaikh. Briefly, he has developed unique and better models to describe the economy, so that there is no need to use rational expectations, utility functions, monopoly power, and much more. He describes the economy as always developing around the central aspects of Real Competition and […]

OK actually about half a mile from the Oakland border. But as a Bay Area ex-pat I am kind of drooling over the Warriors up-side (and they are already pretty up). Suck it Lakers.

by Mike Kimel “Racial/Ethnic Distribution of Advanced Degrees” I stumbled on a website run by the American Academy of Arts and Sciences that looks at the Racial/Ethnic Distribution of Advanced Degrees\ Here’s a graph from that page: Here’s a follow-up graph:

As the derisive name suggests, it’s an idea economists view with contempt, yet the fallacy makes a comeback whenever the economy is sluggish. — Paul Krugman Isabel V. Sawhill (Brookings): “Time for a shorter work week?“ Dean Baker: “Shorter Workweeks Will Defeat the Robots“ Eva Swidler: “Radical Leisure“ Ilana E. Strauss: “Would a Work-Free World Be […]

R.I.P.

Dan here….Lifted from Robert’s Stochastic Thoughts: Robert Waldmann says: Now I understand why Representatives can’t control their crazy impulses Calling Kevin Drum A House office’s water supply has been tainted by high lead levels and may be unsafe, according to a warning blasted out to congressional offices Tuesday night. via Steve Benen (of course) So […]