With talk of class warfare in the air, it’s perhaps useful for the sake of context to re-examine the 1929 platform of the Communist Party of Great Britain, titled “Class Against Class” and representing an avowedly class warfare approach to an economic crisis. Here’s what they had to say on tax policy: (1) Abolition of… Continue reading Actual Class Warfare
Category: economics
When bitcoin collapses, it will prove Milton Friedman right once more
This kind of hoarding is made more likely by the way Bitcoin is set up. Whereas the supply of modern, “fiat” currencies is controlled by central banks, the supply of bitcoins is permanently limited; there will never be more than 21 million bitcoins in existence. (The total number of coins is a result of the… Continue reading When bitcoin collapses, it will prove Milton Friedman right once more
Ten Year Real Yield Curve Hits Zero
Ten Year Real Yield Curve Hits Zero
What other than a liquidity trap could cause this?
Krugman being grouchy in the NYT
Zero job growth, with unemployment still at nosebleed levels. Meanwhile, the interest rate on 10-year US bonds is down to 2.04%, and it’s negative on inflation-protected securities. Aren’t you glad we pivoted from jobs to deficits a year and a half ago? Meanwhile, on the other side of the pond, Is austerity killing Europe’s recovery?… Continue reading Krugman being grouchy in the NYT
Euro-Babies on the Rise
European women are still waiting longer to have children, but they’re having them at the same rate that they did a generation ago. In short, the initial period in the 1970s and 1980s when women waited to have children left a data set that might be more of a hiccup than a permanent population change.… Continue reading Euro-Babies on the Rise
Brazilian wind power cheaper than natural gas
The Brazilian authorities have this week confirmed that wind power in the country currently costs less than natural gas, after a series of energy auctions saw wind farm operators undercut other forms of energy generation. From Brazilian wind power cheaper than natural gas Good news.
The Anti-Keynesian Two-Step
the way the dialogue works is that first a Keynesian observes that fiscal stimulus can increase growth in a depressed economy. Second, as an attempted reductio, a conservative says “if that was true, then you could increase growth by breaking a bunch of windows.” Third, the Keynesian accurately points out that you could, in fact,… Continue reading The Anti-Keynesian Two-Step
Calling Warren Buffett A Socialist Is Ludicrous
Of course, it was inevitable. As soon as Warren Buffett came out and publically said that the super-rich, like himself, should be taxed more, knee-jerk, reactionary right wingers were going to throw the “S” word at him. It is a laughable notion – one of the most successful traders in history wants to march America… Continue reading Calling Warren Buffett A Socialist Is Ludicrous
Austerity and Social Protest
Expenditure cuts carry a significant risk of increasing the frequency of riots, anti-government demonstrations, general strikes, political assassinations, and attempts at revolutionary overthrow of the established order. While these are low- probability events in normal years, they become much more common as austerity measures are implemented From Austerity and Social Protest Amazing timing for the… Continue reading Austerity and Social Protest
Keynes v. Hayek Debate
The Keynes v. Hayek BBC debate at the LSE which pits Lord Robert Skidelsky and Duncan Weldon arguing for Keynes against George Selgin and Jamie Whyte arguing for Hayek is now available in an online podcast. From Keynes v. Hayek Debate — Marginal Revolution Going to listen to this on way in to work.