"It is easy to confuse what is with what ought to be, especially when what is has worked out in your favor."
- Tyrion Lannister

"Lannister. Baratheon. Stark. Tyrell. They're all just spokes on a wheel. This one's on top, then that's ones on top and on and on it spins, crushing those on the ground. I'm not going to stop the wheel. I'm going to break the wheel."

- Daenerys Targaryen


"The Lord of Light wants his enemies burned. The Drowned God wants them drowned. Why are all the gods such vicious cunts? Where's the God of Tits and Wine?"

- Tyrion Lannister


"The common people pray for rain, healthy children, and a summer that never ends. It is no matter to them if the high lords play their game of thrones, so long as they are left in peace. They never are."

- Jorah Mormont


"These bad people are what I'm good at. Out talking them. Out thinking them."

- Tyrion Lannister


"What happened? I think fundamentals were trumped by mechanics and, to a lesser extent, by demographics."

- Michael Barone

"If you want to know what God thinks of money, just look at the people he gave it to."
- Dorothy Parker

Friday, August 17, 2018

Friday, August 10, 2018

Economics

One of the biggest falsehoods that the economics profession foists upon us is how supply meets demand or Say's Law which Keynes went after. You can have long periods of insufficient aggregate demand or high unemployment.

The government sets the amount of demand via interest rates and the cost of credit. If it's too high, people won't borrow and invest and demand won't be enough.

But if the government does this for too long you'll get deflation. The question is why don't we get deflation sooner.

Instead of deflation advanced economies seem to get stuck in a Japanese rut where they can't make inflation, especially when they don't try very hard.

If the government provides enough stimulus or adjusts rates so there's enough aggregate demand, then labor markets will tighten and workers will see wage increases.

Today though we have oligopolies and monopsony and a taboo about raising wages despite low unemployment.

Saturday, August 04, 2018

Monday, July 30, 2018

JG-UBI

Stockton’s Awesome Public Experiment by Jeff Spross

Why reform conservatives should embrace a universal basic income by Jeff Spross

'I feel very betrayed': Basic-income recipients react to one of the world's largest experiments suddenly being canceled (BusinessInsider)
Could a Universal Basic Income Become a Political Reality? by Clio Chang

Why the world should adopt a basic income by Guy Standing

Labour set to include pilot of radical basic income policy in next manifesto, John McDonnell says

What if you could sue the government for a job? by Jeff Spross

Universal basic income vs jobs guarantees: which one will make us happier? by Cory Doctorow

Should Democrats play it safe with a job guarantee? by Jeff Spross

Reorienting Fiscal Policy: A Critical Assessment of Fiscal Fine-Tuning by Tcherneva

Universal Basic Income Is Not the Solution to Poverty by Felix Salmon

What if the Government Gave Everyone a Paycheck? by Robert Reich

Here’s the one book every millennial and Gen Z new graduate should read (and it’s not Dr. Seuss) by Erin Kaine (on David Graeber)

"My forthcoming book will be called "The Case For People's QE" and will be published by Polity, probably in Spring 2019." - Frances Coppola

Who Really Stands to Win from Universal Basic Income? By Nathan Heller

Do We Need a Universal Basic Income? A Debate. BY MATT BRUENIG REBUTTAL BY ROHAN GREY & RAÚL CARRILLO

Do We Need a Federal Jobs Guarantee? A Debate. BY ROHAN GREY & RAÚL CARRILLO REBUTTAL BY MATT BRUENIG

Yes, a Jobs Guarantee Could Create “Boondoggles.” It Also Might Save the Planet. by Kate Aronoff

10 Principles for a Federal Job Guarantee By Angela Glover Blackwell, Sarah Treuhaft, Darrick Hamilton, and William Darity, Jr.

excellent podcast on JG-UBI by Current Affairs

Robert Reich video on JG

Democrats’ Next Big Thing: Government-Guaranteed Jobs by Jim Tankersley

Three Ways to Design a Democratic Job Guarantee by Alexander Kolokotronis

Stephanie Kelton Has The Biggest Idea In Washington by Zach Carter

PUBLIC SERVICE: EMPLOYMENT:A PATH TO FULLEMPLOYMENT by L. Randall Wray, Flavia Dantas, Scott Fullwiler, Pavlina R. Tcherneva, and Stephanie A. Kelton  (April 2018)

The Job Guarantee:Design, Jobs, and Implementation by Tcherneva (April 2018)

Why We Need a Federal Job Guarantee by Mark Paul, William Darity Jr and Darrick Hamilton

BASIC INCOME, NOT BASIC JOBS: AGAINST HIJACKING UTOPIA by Scott Anderson

The Job Guarantee Controversy by Timothy Taylor

Baby bonds

JOB GUARANTEE: MARXIST OR KEYNESIAN? by Chris Dillow

Some thoughts about the Job Guarantee by Simon Wren-Lewis (2017)

The Long, Tortured History of the Job Guarantee By PETER-CHRISTIAN AIGNER and MICHAEL BRENES


Workfare Means New Mass Peonage by Frances Fox Piven and Barbara Ehrenreich (1987)


My impression of job guarantee advocates, which I am afraid you are not doing much to dispel, is that they are not willing to admit that their preferred approach ahas any drawbacks, or that any alternatives have any merits.


Bernie Gets Socialistic by Max Sawicky



Smile by Steve Randy Waldman


We Work by James K. Galbraith

























The Call for Jobs for All by Matthew Klein




Sunday, July 29, 2018

2016

Erik Loomis, Adam Serwer. There's starting to punch Left, attacking Chapo Trap House and Tom Frank as sexist and racist.

What prompted this?

Saturday, July 28, 2018

Gil Scott-Heron's America in Winter



saw him on a "Night Flight" rerun showed on IFC. He was also mentioned on Henwood's podcast interview with Alex Gourevitch. Never heard of him before.

serendipity and kizmet?

Wednesday, July 25, 2018

Khanna's job bill

REP. RO KHANNA TO INTRODUCE COMPROMISE “JOBS FOR ALL” BILL by Kate Aronoff

Joy Behar, hero

conservative media has been better on the rise of socialism than liberal MSNBC and CNN

only Fox has the video of Joy Behar vs Megan McCain

then Stephen Colbert last night said "God is socialist" after taking about the Fox news person who want to a Sander/Ocasio-Cortez rally in Kansas. The woman almost had a breakthrough about how enticing the socialist message was.