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NEW PAPER: The 2022 fossil fuel price jumps caused an oil and gas profit explosion. We show the US reaped the largest profit increase (USD 275bn) of any country. Big Oil claims this benefits the American people. In fact, 51% went to the richest 1%, only 1% to the bottom 50%. A 🧵

For those of an academic persuasion, or those who still give a shit about decarbonization, or both, here's two papers just published with Leah Downey and Dan Driscoll. These links should take you to the actual papers. Bangers. url6649.tandfonline.com/ls/click?upn=u… and tandfonline.com/eprint/9FMDXHG…

Michel Aglietta 1938-2025

#Britain’s populist surge isn’t born of rage, but neglect. What #ReformUK reaps in the local elections is not rebellion, but inheritance—from towns where policy forgot to tread and hope was for long left to rot. doi.org/10.1093/cjres/… doi.org/10.1080/001300…

In East #Germany, silence speaks: empty train stations, dry pools, abandoned #schools. According to Benjamin Höhne, Julius Kölzer & Träger, each absence is a ballot for the #AfD. Demographic decline is increasingly being reflected in politics. doi.org/10.1080/096440…

To weaken the appeal of the extreme right, Germany must act quickly to craft “an ambitious industrial policy that delivers sustainable economic growth and good jobs,” argue Isabella M Weber and Tom Krebs. foreignaffairs.com/europe/what-ge…

Dekarbon. 🔨🇩🇪-Regionen untersch. hart. Folgen: Wachstum 📉, sozialer 🧨, ⬇️ Akzeptanz für Klimapol. & #AfD📈. Regionalpolitik aktuell🩹reaktiv statt proaktiv. Mit Jens Südekum habe ich mir🤔wie sich das ändern ließe. Mehr dazu bei DER SPIEGEL spiegel.de/wirtschaft/foe…

The days when Chinese officials were driving black Audis are long gone. What officials drive influences status aspiring consumers, it’s the car that projects status and power within the system.

The inability of economists to meaningfully discuss current international economic relations has become painfully obvious in their, at time pathetic, attempts to teach the US leadership of Economics 101 lessons while not realizing that the US leadership, under both Trump I and II

Ich würde beiden Clemens Fuest und Veronika Grimm widersprechen und noch einmal auf die Literatur verweisen. Es gibt Unterschiede, Regulierung ≠ Regulierung. Mietendeckel und Mietpreisbremse sind konzeptionell sehr unterschiedlich. Entsprechend ist die Wirkung eine andere.

The theory that a rising tide lifts all boats has capsized. From #climate backlash to democratic strain, ignoring place is undermining progress. The OECD ➡️ Better Policies for Better Lives OECD SMEs, Regions, Cities & Tourism new report offers the right strategy: intelligent localisation for resilient futures. oecd.org/en/publication…

I am so delighted to be giving this year’s Eva Colorni memorial lecture on the idea of moral socialism, joined by Amartya Sen @ LSE. 11th June 5pm, free but registration required. I hope to see many of you there!🌹 lse.ac.uk/International-…

Someone at UCD paid a king's ransom to an academic publisher so you can get this without paying for it. I hope its worth it to you: academic.oup.com/ser/advance-ar…

"individuals who speak a language in which the same word is used for both (financial) debt and (moral) guilt have a statistically significant and economically meaningful lower likelihood of borrowing money... a hitherto overlooked aspect in explaining borrowing behaviour."

Productivity grows faster when aggregate demand and employment are strong, as predicted by Keynesian theory. via Skanda Amarnath

What does de-risked decarbonization mean for state capacity across sectors? I am THRILLED that this article is now out in RIPE 🔓 Current climate finance regimes lock in lopsided transitions - states need resources for unbankable transitions. tandfonline.com/doi/full/10.10…

Volle Zustimmung zur Rolle von Vollbeschäftigung unten im Thread. Aber wie hilft #Kapitaldeckung? 1. Es gibt nur das eine BIP. Wenn mehr davon an Faktor Kapital fließt, dann weniger an Faktor Arbeit. Kann man wollen (ggf. Investitionsanreiz), aber warum über Rente? 1/3

Couldn’t agree more here: even the most powerful economic institutions like central banks operate in deeply political environments. Institutions work when they are backed by political consensus - as I explore in Unexpected Revolutionaries Cornell University Press ft.com/content/6ed3d5…

The Iran-Israel confrontation has been telgraphed and feared for so long that we are in danger of losing sight of just how radical it is in military terms. Incoming from out of space: The geo-military radicalism of Iran v. Israel 2025. Chartbook 391 drop tinyurl.com/326evynm

Rutte - the same man who championed austerity in the EU for over a decade. Pathetic. Spineless.