I look at the degrowth that might be achieved by eliminating inequality.Radically Progressive Degrowth: Reducing Resource Use by Eliminating Inequality
“Epigram for Wall street” is a poem attributed to Edgar Allan Poe, born on 19 January 1809 I’ll tell you a plan for gaining wealth,Better than banking, trade or leases —Take a bank note and fold it up,And then you will find your money in creases!This wonderful plan, without danger or loss,Keeps your cash in […]Epigram for Wall street 💸 — words and music and stories
[Image: Charge of German infantry against the Russian fortress of Novogeorgievk, 1915. Germans sieging Russians in Poland in other words, soon all to have their currencies collapse.]
In «Airplane crashes aren’t ‘hyperlandings’: Notes onZimbabwe» I outlined the long history of conflict, colonialism, ethnic/political schisms, corruption, bad policy choices, disease, and how these combined with an elite dictator class desperate to cling to power in Zimbabwe. The elite attempted to cling to power by adding ever more zeros to the currency; this was the result of all of the above, not cause.
I had planned to go into the same detail for a post on Venezuela and Weimar, the other primary cases one hears mentioned time and again.
However, I realize there is really no need. The details differ, but one can look at any basic political and general history of Weimar or Venezuela and plug in almost all of the…
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A hellish year is over and a vaccine is rolling out. Let’s be thankful for science.As 2020 Ends, Let’s Celebrate Science — Economics from the Top Down
Romaric Godin has recently written a very stimulating review of “Le capitalism, sans rival” with a somewhat provocative title “La reflexion inachevée de Branko Milanovic sur le capitalisme”. There are reasons why the reflection may necessarily remain incomplete, but there are also some points on which I would like to define my thinking a bit…On several Marxist themes in “Capitalism, Alone”: My reply to Romaric Godin’s review
The effects of class struggle, it seems, are written in the most unlikely of places: the stock market.How the History of Class Struggle is Written on the Stock Market
from Dean Baker Economists and economic reporters all know that tariffs can lead to corruption. The idea is that if a government-imposed tariff raises the price of a product by 10-25 percent above the free market price, companies have a large incentive to find ways to avoid the tariff. This can mean reclassifying imports to […]Patent monopolies in prescription drugs cause corruption # 43,508
Data from UK tax records with new information on migrant status to show that that migrants are highly represented at the top of the UK’s income distribution.Importing Inequality: Immigration and the Top 1% — naked capitalism
In this guest post, economist Christophe Petit pays tribute to his friend and mentor David Graeber.A Tribute to David Graeber — Economics from the Top Down
These days optimism is rarer than before. So it is uplifting to read an historian such as Joel Mokyr writing that “at the end of the day, the post-pandemic economy may not be all that different from what we had in 2019, and insofar that it is different, not all changes will necessarily be bad”.…Post-Pandemic Optimism from Joel Mokyr