Provocation #170 What if the problem is capitalism? Without safeguards the dynamics of the rich having better access to market information and cheaper credit means those with capital continue to get richer. Simple dynamics at play. To keep this excess manageable safeguards must be continually active, but increasing complexity keeps the dynamics hidden. The counter … Continue reading Post # 2019 Could the problem be capitalism?
The Economic and Social Roots of Populist Rebellion: Support for Donald Trump in 2016 Thomas Ferguson, Benjamin Page, Jacob Rothschild, Arturo Chang, and Jie Chen∗ at https://www.ineteconomics.org/uploads/papers/WP_83-Ferguson-et-al.pdf Important. ABSTRACT This paper critically analyzes voting patterns in the 2016 U.S. presidential election. Using survey data from the American National Election Survey and aggregate data on Congressional … Continue reading #2018 Why Trump won. Economic more than identity
provocation # 169. Economics and world management. The world definitely needs managing - or some equivalent. Everything overlaps. Specialties don;’t work. The world is one but specialties divide it. Is there any path for economics that will make it a partner in world management? Or are we locked in to an economics that serves academic … Continue reading post # 2018. Economics and world management.
Provocation 168. How to expand the scope of economics. In the spirit of provocation.. Economics advanced by making assumptions that treated most of society as external to economics, but it turns out, as it has, that the dynamics of society profoundly affect the mainstream neo-classical economic model: ownership, wealth: interest, politics, people’s state of mind … Continue reading Post # 2017. Expanding the scope of economics?
Gates Memo has today (Oct 17) My plan for fighting climate change. Climate change and the 75% problem gatesnotes.com · by Bill Gates Bill Gates makes a proposal. I think we need to be very critical and get him to take himself more seriously. The errors and omissions of logic are representative of why … Continue reading Post #2016 Bill Gates capital serving memo on climate change.
provocation # 167 Global heating and economics. Is there any realistic hope for dealing with climate? A few interviews show that many people have a very inaccurate understanding of what’s up. For Example, a car with a full tank of gas. What happens to the gas as the tank is used for driving. The question … Continue reading Post # 2015. Global heating and economics.
Provocation # 165. Trump, unemployment and economics. The argument is made that things like GDP, obviously flawed, nevertheless make possible graphs and computational models. In physics, basic assumptions, almost always get closer to the core of the phenomena. Weights falling in a frictionless vacuum for example. But in economics the assumptions , allowing for modeling, … Continue reading Post # 2014. Trump, unemployment and economics.
Are we now in a kind of early lock-in to nations and corporations and elite structures of inheritance, education and rewards? I sense a shift in atmosphere, rather than an easy to describe shift in consciousness and categories. The West seems riddled with lack of leadership. The past looms. Europe seems small and the US … Continue reading post 2013. Early lock-in?
In retrospect people will ask - why did economics keep supporting the system, or at best making small tweaks (tax rates, bank reserves ) but nothing capable of doing the obvious: modeling and discussing what needs to be done to stop the momentum toward crises, to prepare for a post crisis world.The critiques of what’s … Continue reading post # 2012 Retrospective on economics’ failure to engage.
Provocation 164. Beyond economics. Economics fails to look at key social phenomena: capitalism, ownership, quality of life, preferences, political power. In the few cases that reach outside to social consequences, the symptoms are discussed by not core consequences. A few examples: Steve Keen’s revising economic models feels bloodless, absent people, or Stiglitz/ Ocasio-Cortez who … Continue reading Post # 2011. How do we get to a more inclusive economics?