The academic economists had their chance. Now we have a non-economist as fed chair and posters as economic advisors x.com/stanveuger/sta…

I was wondering why my inflation expectations changed yesterday!

Heckuva trend here in net domestic migration broken out by type of city -- people are still fleeing high-cost large metro areas. (Though this doesn't count international migration or births/deaths). via ClevelandFedResearch clevelandfed.org/publications/c…

The CEA dedicates Chapter 1 of the 2024 Economic Report of the President to Dr. Bill Spriggs and his lifelong efforts to promote economic justice for all. The CEA hopes the chapter reflects his view: “Full employment should mean full employment for all; not some.” 1/

phenomenal world is so cool

Did econs make these assumptions because they believed them true? -what were Arrow vs Debreu's goals? press.princeton.edu/books/hardcove… -how Coase vs later users viewed transaction costs aeaweb.org/articles?id=10… -how many assumptions stuck for tractability reasons? journals.openedition.org/oeconomia/14116

From what I could follow, Adam Tooze’s fantastic interview with Fernando Haddad today in São Paulo, inaugurating Phenomenal World’s editorial expansion into Portuguese, encapsulates the critical challenges Brazilian political economy has faced over the past 30 years.

The Union Army was one of history's great revolutionary forces: the most powerful military in history till that point; a victorious multiracial force for abolition, democracy, and state building. A traitorous quisling like Lee could never compare to the Union's best commander.

A great thread on a wonderful life. I have been reading Hirschman’s early work and found it deep and insightful. It’s long lost in economics. More than his development work (more well known) or his later dubious push away from modern econ…it is his early work on trade, finance,

I started teaching a development finance class. Instead of starting with finance, we started with development from Evans' Embedded Autonomy. The Central European University MA students liked it, but they were also missing gender, politics, environment, post-colonialism, etc.

I wrote this in the summer of 2021. “The Fed’s conventional medicine of higher interest rates is not a good tool for combating rental inflation. In fact, it could be directly counterproductive…by making new investment more costly…” democracyjournal.org/arguments/wart…

New MIH Issue: Edward Baring examines the work of early Western Marxist Karl Korsch and demonstrates the centrality of worker education for understanding the intellectual history of Marxism bit.ly/3Jmv2y6

At least 10% of women suffer from endometriosis & endure severe pain every month. I’m one of them & just recovered from surgery. Patriarchy tells us: Get used to periods being painful & keep quiet. Most of us aren’t diagnosed for about a decade. Sharing to fight the silence.

This is a very valuable resource: nancysnookendo.com/?doing_wp_cron…

Keynes had many deep insights about full employment, but he didn't recognize some key benefits: making the labor market more competitive, reducing wage inequality, and re-allocating work to more productive enterprises.

Point is not to dunk on Keynes, but to point out that economics is a living discipline and not all key insights are just reducible to classics, even on topics that are closely related to classic pieces.

A day like today, Keynes passed away back in 1946. A portrait by Duncan Grant

Utterly unhinged Adam Smith content:

24/ Universities turn into battlegrounds as peaceful student uprising crushed by police. The oil-rich former British colony struggles with democracy continue as its leaders ignore popular sentiment to restrain its client abroad #NewsIfUSAWasAForeignCountry x.com/paulimeth/stat…

It can take years of advanced training in economics, but sadly it is possible to lose the basic moral intuition behind "equal pay for equal work."