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Ravel Software Tutorial: Page 17

Transcript (and yes, this IS for SEO purposes) Transcribed by TurboScribe.ai. Hi, this is Kevin, and I’m a student in Steve Keen’s Revel Economist Challenge,

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February 19, 2025 No Comments
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Economic Modeling
Kevin Carney

Minsky and Ravel software tutorials

If you’re learning to create dynamic models using the Minsky and Ravel software, you will find these two tutorials to be of value. Modeling with

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January 29, 2025 No Comments

Congressional Hearing: The Implications of a Central Bank Digital Currency and Private Sector Alternative

Here is a video of a hearing of the Congressional Subcommittee on Digital Assets, Financial Technology and Inclusion, help on 14 Sep 2023, on the

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September 20, 2023 No Comments
Graph of the US GDP growth from 1980 to 2020
Banking
Kevin Carney

USA Bank Regulation: 1980 to 2000: The Long Boom

The long boom was not without its bust cycles, but during this 20 year period of general economic expansion, they were fairly short and fairly

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March 13, 2022 No Comments
Image of Fredrich Hayek, Milton Friedman, Ronald Reagan, and Margaret Thatcher
Banking
Kevin Carney

USA Bank Regulation: 1980: Neoliberalism

While most people think of neoliberalism as having started in the late 1970s or early 1980s, its roots go back to the end of world

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February 22, 2022 No Comments
Image of a chart showing The Great Inflation of the 1970s
Banking
Kevin Carney

USA Bank Regulation: 1970: The Great Inflation

The great inflation of the 1970s actually started around 1965 as the chart below shows. And believe it or not, the consensus on what caused

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February 14, 2022 No Comments
An image of a slide showing Fed management of the economy after the Fed-Treasury Accord of 1951
Banking
Kevin Carney

USA Bank Regulation: 1951: After the Accord

The Fed-Treasury Accord of 1951 was a bank regulation that created what we refer to as the independence of the Fed. We say this because

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February 4, 2022 No Comments
Image of Marriner Eccles, the Fed chairman who negotiated the Fed-Treasury accord of 1951 on behalf of the Fed
Banking
Kevin Carney

USA Bank Regulation: 1951: Treasury-Fed Accord

When World War 2 came to an end, the Federal Reserve had a dual mandate to 1) keep the interest rates on government securities low

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February 2, 2022 No Comments
Image of logos of the IMF and the World Bank
Banking
Kevin Carney

USA Bank Regulation: 1944: New World Order

I know new world order has become a loaded phrase these days with ideas of the great reset, etc, but I don’t have a better

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February 1, 2022 No Comments
Image of "Women Support War Effort" stamp.
Banking
Kevin Carney

USA Bank Regulation: 1941: World War Two

The bank regulations that changed in the United States to help pay for world war two almost exclusively affected operations of the Federal Reserve, which

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January 31, 2022 No Comments
Images representing the new deal of President Roosevelt
Banking
Kevin Carney

USA Bank Regulation: 1933: The New Deal

How big was the problem? The economic impact of the great depression is illustrated by the two charts below. The first shows the US GDP

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January 29, 2022 No Comments
The famous image of the woman with two children taken during the great depression
Banking
Kevin Carney

USA Bank Regulation: 1929: The Great Depression

In what ways did bank regulation lead to the great depression? In what ways did bank regulation change as a result OF the great depression?

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January 26, 2022 No Comments
An image of a party scene from the roaring twenties
Economics
Kevin Carney

USA Bank Regulation: Financing The Roaring Twenties

In a very real sense, the roaring twenties was started by world war I, which started an economic boom for the United States. European nations

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January 25, 2022 No Comments
Image of a Liberty Bonds poster, used for financing world war one
Banking
Kevin Carney

USA Bank Regulation: 1917: Financing World War One

Financing world war one started simply, as people expected the war to be quick. As months dragged on, things got more complex. The United States

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January 23, 2022 No Comments
Image of a crowd outside a bank during the 1907 bank panic
Banking
Kevin Carney

USA Bank Regulation: 1873: One bank panic after another

After the US government created a national currency in 1863, the US dollar (also known as the greenback) the banking system of the United States

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January 21, 2022 No Comments
Image of newspaper announcing the birth of the federal reserve
Banking
Kevin Carney

USA Bank Regulation: 1913: Birth of the Federal Reserve

Much has been written about the Federal Reserve, and much will be in the future. Was it an innovation to stabilize the financial system? A

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January 21, 2022 No Comments
Bank regulation: An image of an 1862 greenback US dollar
Banking
Kevin Carney

USA Bank Regulation: 1862: Greenbacks

Bank regulation and the creation of greenbacks… The US free banking era started in 1837 when the second Bank of the United States dissolved after

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January 20, 2022 No Comments
bank regulation: Image of a bank during during the free banking period
Banking
Kevin Carney

USA Bank Regulation: 1837: Free banking period

Prior to the dissolution of the second Bank of the United States (due to Congress not renewing its charter in 1836), bank regulation for state

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January 19, 2022 No Comments
Bank regulation: Images of the First and Second Banks of the United States
Banking
Kevin Carney

USA Bank Regulation: 1791: Bank of the United States

Early in the history of the United States, bank regulations were created for the existence of a national central bank. This was actually tried twice,

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January 19, 2022 No Comments
Bank regulation: Image of the front of the bank of north america, the first chartered financial institution in the United States
Banking
Kevin Carney

USA Bank Regulation: 1782: Bank of North America

How did bank regulation allow the United States to fund the rest of the War of Independence? Robert Morris was appointed Superintendent of Finance of

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January 18, 2022 No Comments
Continental currency: An image of a continental currency bank note
Banking
Kevin Carney

USA Bank Regulation: 1775 to 1782: Continental currency

When the American colonies were British, each colony issued their own currency, denominated in the British currency units: pounds, shillings, and pence. The values of

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January 17, 2022 No Comments
Image of papers with two stamps "bank regulations" and "rules"
Banking
Kevin Carney

United States banking and bank regulation history

Bank regulation in the United States was never designed from a big picture perspective. Rather, a problem was identified and solved. This generally created more

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January 17, 2022 No Comments
Economic ideas: An image of True and False written on a blackboard with False selected
Economics
Kevin Carney

Foundational economic ideas that are known to be false 2

Yet these economic ideas are still used as the basis for public policy. This blog post identifies some and clarifies how we know they’re false.

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January 16, 2022 No Comments
Economic ideas: An image of Sam Altman from Galaxy Quest with the words "Oh! That's not right".
Economics
Kevin Carney

Foundational economic ideas that are known to be false

Yet these economic ideas are still used as the basis for public policy. This blog post identifies some and clarifies how we know they’re false.

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January 15, 2022 No Comments
Banking regulation: Image shows a Bitcoin physical coin in the foreground, and a pricing chart in the background
Banking
Kevin Carney

The history of banks and banking regulation

This blog follows my interests in learning about money, banking, economics, supply chains, etc. This interest started a few years ago when I was made

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January 15, 2022 No Comments
Political development: An image of a map showing Finland with the Finnish flag in the lower right
Economics
Kevin Carney

The economic and political development of Finland

This entry is part 5 of 6 in the series Scandinavian socialism

This post is part of a series where I examine (which really means “read up on”) the economic and political development of the Scandinavian (or

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January 14, 2022 No Comments
Political development: An image of a Iceland flag with the ocean behind it
Economics
Kevin Carney

The economic and political development of Iceland

This entry is part 5 of 6 in the series Scandinavian socialism

This post is part of a series where I examine (which really means “read up on”) the economic and political development of the Scandinavian (or

Read More »
January 12, 2022 No Comments
Political development: An image of a Norwegian flag in the foreground with an ocean oil platform in the background
Economics
Kevin Carney

The economic and political development of Norway

This entry is part 4 of 6 in the series Scandinavian socialism

This post is part of a series where I examine (which really means “read up on”) the economic and political development of the Scandinavian (or

Read More »
January 8, 2022 No Comments
Political development: An image of the Swedish flag in front of a limestone coloured building
Economics
Kevin Carney

The economic and political development of Sweden

This entry is part 3 of 6 in the series Scandinavian socialism

This post is part of a series where I examine (which really means “read up on”) the economic and political development of the Scandinavian (or

Read More »
January 4, 2022 No Comments
Political development: Picture of Danish flag in front of a number of boats in front of a number of brightly colored row houses
Economics
Kevin Carney

The economic and political development of Denmark

This entry is part 2 of 6 in the series Scandinavian socialism

This post is part of a series where I examine (which really means “read up on”) the economic and political development of the Scandinavian (or

Read More »
January 1, 2022 No Comments
Scandinavian socialism: Image of the flags of five Scandinavian (Nordic) countries
Economics
Kevin Carney

Is Scandinavian socialism really just regulated capitalism?

This entry is part 1 of 6 in the series Scandinavian socialism

I’ve seen many contradictory comments online about “Scandinavian socialism” vs “No, they’re capitalist”. Some feel Scandinavian economies fit modern definitions of socialism, others feel they’re

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December 28, 2021 No Comments
Saving capitalism: Image of Gillian Tett, Ann McElvoy, and Yanis Varoufakis during an Intelligence Squared debate "Can we fix capitalism?".
Economics
Kevin Carney

Saving capitalism by making it more inclusive, part 8

This entry is part 8 of 8 in the series Saving Capitalism

This post is part of a series about a discussion (framed as a debate) between Gillian Tett and Yanis Yaroufakis on the subject of saving

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December 27, 2021 No Comments
Saving Capitalism: Image of Gillian Tett, Ann McElvoy, and Yanis Varoufakis on stage during a debate about "Can we fix capitalism?".
Economics
Kevin Carney

Saving capitalism by making it more inclusive, part 7

This entry is part 7 of 8 in the series Saving Capitalism

This post is part of a series about a discussion (framed as a debate) between Gillian Tett and Yanis Yaroufakis on the subject of saving

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December 27, 2021 No Comments
Saving capitalism: An image of Gillian Tett, Ann McElvoy, and Yanis Varoufakis on stage for a discussion about fixing capitalism
Economics
Kevin Carney

Saving capitalism by making it more inclusive, part 6

This entry is part 6 of 8 in the series Saving Capitalism

This post is part of a series about a discussion (framed as a debate) between Gillian Tett and Yanis Yaroufakis on the subject of saving

Read More »
December 26, 2021 No Comments
Saving capitalism: Image of the auditorium, showing Gillian Tett, Ann McElvoy, and Yanis Varoufakis on stage in the lower right and the audience in the auditorium.
Economics
Kevin Carney

Saving capitalism by making it more inclusive, part 5

This entry is part 5 of 8 in the series Saving Capitalism

This post is part of a series about a discussion (framed as a debate) between Gillian Tett and Yanis Yaroufakis on the subject of saving

Read More »
December 26, 2021 No Comments
Saving capitalism: Image of Gillian Tett during a debate/discussion with Yani Varoufakis about "Can capitalism be fixed"?
Economics
Kevin Carney

Saving capitalism by making it more inclusive, part 4

This entry is part 4 of 8 in the series Saving Capitalism

This post is part of a series about a discussion (framed as a debate) between Gillian Tett and Yanis Yaroufakis on the subject of saving

Read More »
December 25, 2021 No Comments
Saving capitalism: An image of Yanis Varoufakis during a discussion/debate about "Can capitalism be fixed"?
Economics
Kevin Carney

Saving capitalism by making it more inclusive, part 3

This entry is part 3 of 8 in the series Saving Capitalism

This post is part of a series about a discussion (framed as a debate) between Yanis Yaroufakis and Gillian Tett on the subject of saving

Read More »
December 25, 2021 No Comments
Saving capitalism: A picture of economist Yanis Varoufakis during a discussion he had with Gillian Tett
Economics
Kevin Carney

Saving capitalism by making it more inclusive, part 2

This entry is part 2 of 8 in the series Saving Capitalism

This post is part of a series about a discussion (framed as a debate) between Yanis Yaroufakis and Gillian Tett on the subject of saving

Read More »
December 24, 2021 No Comments
Saving capitalism: An image of Yanis Varoufakis, Gillian Tett, and Ann McElvoy during a debate about saving capitalism.
Economics
Kevin Carney

Saving capitalism by making it more inclusive, part 1

This entry is part 1 of 8 in the series Saving Capitalism

There is no denying capitalism has brought the world incredible material wealth and prosperity, especially since the end of world war 2. Having said that,

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December 24, 2021 No Comments
Marxist economic theory: Picture shows a fat capitalist provided small wages to a work who helped produce enormous profits
Economics
Kevin Carney

Marxist economic theory criticisms of capitalism

Let me open by saying that it is very recently that I’ve learned anything about Marxist economic theory, but what little I’ve learned so far

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December 23, 2021 No Comments
Modern Monetary Theory: A picture of Stephanie Kelton being interviewed by an economics student at the University of Adelaide
Economics
Kevin Carney

Modern Monetary Theory explained by Stephanie Kelton

Dr. Stephanie Kelton is a professor of economics and public policy at Stony Brook University. She is the author of the bestseller The Deficit Myth

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December 20, 2021 No Comments
Money and finance: A picture of banknotes of various countries and denominations.
Economics
Kevin Carney

Money and finance: A talk by Dr. Steve Hail

Dr. Steven Hail is an economics lecturer at the University of Adelaide in Australia. This blog post is a summary of two videos (a part

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December 19, 2021 No Comments

Can democratic capitalism (workers coops) benefit investors?

In the traditional capitalist idea of the absentee investor who receives financial benefits as a right of ownership without doing any work, the answer is

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December 18, 2021 No Comments
Nomi Prins: A picture from 2017
Economics
Kevin Carney

Nomi Prins on banking fraud and bank bailouts

Nomi Prins was a Wall St banker, who after 9/11 reassessed her life choices and became somewhat of a traitor to her tribe and an

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December 17, 2021 No Comments
Workers cooperatives: Picture of 11 women holding letters that spell out "cooperation"
Economics
Kevin Carney

Richard Wolff: Democratic capitalism through workers cooperatives?

While my next sentence might seem petty, I do feel it’s appropriate for me to reveal that for some reason I can’t quite identify, I

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December 16, 2021 No Comments
What is money: An image of banknotes of various countries, with the words "What is money?" above them
Economics
Kevin Carney

What is money and where does it get its value?

This post is a summary of a YouTube video where L Randall Wray is discussing (explaining may be more accurate) that from the perspective of

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December 15, 2021 No Comments
Federal reserve system: How repo and reverse repos help maintain liquidity in the banking system.
Economics
Kevin Carney

How the federal reserve system clears payments with repos

This blog post is a summary (of sorts) of a podcast episode: Macro and Cheese Episode 42 – Repo Mania: Has The Fed Bailed Out

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December 14, 2021 No Comments
Angrynomics: An image of The End as you might see at the end of a film
Economics
Kevin Carney

Angrynomics – The summary: Part 15 (and THE END)

This entry is part 12 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

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December 13, 2021 No Comments
Angrynomics: Image banner of the United States Conference of Mayors
Economics
Kevin Carney

Angrynomics – The summary: Part 14

This entry is part 12 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 12, 2021 No Comments
Angrynomics: Chart of how 2009 Recovery Act prevented GDP from falling lower
Economics
Kevin Carney

Angrynomics – The summary: Part 13

This entry is part 12 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 12, 2021 No Comments
Angrynomics: Image of an interest rate "teeter totter" in front of the image of a person's torso
Economics
Kevin Carney

Angrynomics – The summary: Part 12

This entry is part 12 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 11, 2021 No Comments
Angrynomics: An image representing the Data Dividend Project
Economics
Kevin Carney

Angrynomics – The summary: Part 11

This entry is part 11 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 11, 2021 No Comments
Angrynomics: An image representing the prevalence of sovereign wealth funds
Economics
Kevin Carney

Angrynomics – The summary: Part 10

This entry is part 10 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 10, 2021 No Comments
Angrynomics: Image of a red thumbs up (us) and blue thumbs down (them)
Economics
Kevin Carney

Angrynomics – The summary: Part 9

This entry is part 9 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 10, 2021 No Comments
Angrynomics: Picture of a gig economy delivery worker
Economics
Kevin Carney

Angrynomics – The summary: Part 8

This entry is part 8 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 9, 2021 No Comments
Angrynomics: Image of a line of immigrants with the background of an American flag.
Economics
Kevin Carney

Angrynomics – The summary: Part 7

This entry is part 7 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 9, 2021 No Comments
Angrynomics: Image of the Lehman Brothers sign being carried down the street
Economics
Kevin Carney

Angrynomics – The summary: Part 6

This entry is part 6 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 8, 2021 No Comments
Angrynomics: An image representation globalization
Economics
Kevin Carney

Angrynomics – The summary: Part 5

This entry is part 5 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 8, 2021 No Comments
Angrynomics: The pictures shows an angry Detroit Lions fan
Economics
Kevin Carney

Angrynomics – The summary: Part 4

This entry is part 4 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 7, 2021 No Comments
Angrynomics: Image of Trump supporters storming the US Capitol on 6 Jan 2021
Economics
Kevin Carney

Angrynomics – The summary: Part 3

This entry is part 3 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 7, 2021 No Comments
Angrynomics: Image of an Occupy Wall St. Protest
Economics
Kevin Carney

Angrynomics – The summary: Part 2

This entry is part 2 of 15 in the series Angrynomics - The Summary

This post is part of a series of posts that summarizes the book Angrynomics by Eric Lonergan and Mark Blyth. If you found this post

Read More »
December 6, 2021 No Comments
Angrynomics: An image of the front cover of the book
Economics
Kevin Carney

Angrynomics – The summary: Part 1

This entry is part 1 of 15 in the series Angrynomics - The Summary

This series of blog posts is a summary of what I consider to be the excellent book Angrynomics, by Eric Lonergan and Mark Blyth. I

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December 6, 2021 No Comments
Libertarianism: An image of someone holding up a poster of Ronald Reagan with the quote "Man is not free unless government is limited".
Economics
Kevin Carney

Was libertarianism really created by corporate special interests?

I keep bumping into this idea online. Here are four articles making this claim What specific claims do they make? We know what we know

Read More »
December 5, 2021 No Comments
global supply chains: Image of the cargo ship MSC Gulsun
Supply Chains
Kevin Carney

How did gigantic ships break our global supply chains?

How did the arrival of gigantic mega-ships break our global supply chains? This topic is covered in depth in the Odd Lots podcast episode: How

Read More »
December 3, 2021 No Comments
cost of shipping: Image shows TEUs being unloaded from a ship and loaded onto chassis for truck transport
Supply Chains
Kevin Carney

Why the rising cost of shipping isn’t a surprise, part 5

This entry is part 5 of 5 in the series Cost of Shipping

If you found this post via search, it probably makes sense to start with the first post in this series on the cost of shipping.

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December 2, 2021 No Comments
Cost of shipping: Image of an Evergreen ship docked at the port of Los Angeles
Supply Chains
Kevin Carney

Why the rising cost of shipping isn’t a surprise, part 4

This entry is part 4 of 5 in the series Cost of Shipping

If you found this post via search, it probably makes sense to start with the first post in this series on the cost of shipping.

Read More »
December 1, 2021 No Comments
Cost of shipping: Chart shows map of the worlds global shipping lanes
Supply Chains
Kevin Carney

Why the rising cost of shipping isn’t a surprise, part 3

This entry is part 3 of 5 in the series Cost of Shipping

If you found this post via search, it probably makes sense to start with the first post in this series on the cost of shipping.

Read More »
November 29, 2021 No Comments
Cost of shipping: image shows a fully laden ship of China Shipping Line
Supply Chains
Kevin Carney

Why the rising cost of shipping isn’t a surprise, part 2

This entry is part 2 of 5 in the series Cost of Shipping

If you found this post via search, it probably makes sense to start with the first post in this series on the cost of shipping.

Read More »
November 27, 2021 No Comments
Cost of shipping: Image shows a picture of a Merete Maersk ship loaded with intermodal shipping containers
Supply Chains
Kevin Carney

Why the rising cost of shipping isn’t a surprise

This entry is part 1 of 5 in the series Cost of Shipping

This blog post is a quick-to-read summary of the Odd Lots podcast episode: Why the Cost of Shipping Goods From China Is Suddenly Soaring. Bear

Read More »
November 25, 2021 No Comments
US treasury auctions: The image shows the credits for the information used to create the video
Economics
Kevin Carney

How do US treasury auctions work and why does it matter?

A little background information on this US treasury auctions explainer video This is a goofy little video published to YouTube six years ago that does

Read More »
November 23, 2021 No Comments
Sovereign wealth fund: Image shows a map of the United States with profiles of people without faces spread out across it
Economics
Kevin Carney

Are there state and provincial sovereign wealth funds?

This entry is part 3 of 3 in the series Sovereign Wealth Funds

Canadian sovereign wealth funds As a country, Canada does not have any sovereign wealth funds. Alberta But the province of Alberta does. The Alberta Heritage

Read More »
November 22, 2021 No Comments
Sovereign Wealth Funds: Image shows chart of the largest sovereign wealth funds in the world
Economics
Kevin Carney

What are examples of national sovereign wealth funds?

This entry is part 2 of 3 in the series Sovereign Wealth Funds

We’ll start with the biggest ones. The Government Pension Fund of Norway Total assets and year founded The Government Pension Fund of Norway is actually

Read More »
November 22, 2021 No Comments
Sovereign Wealth Funds: Image shows chart of the largest sovereign wealth funds in the world
Economics
Kevin Carney

What are Sovereign wealth funds and why do they work?

This entry is part 1 of 3 in the series Sovereign Wealth Funds

We’ve all heard the best way to build long-term wealth is to buy and hold stocks. Can governments do this for the benefit of their

Read More »
November 21, 2021 No Comments
Economic value: An image of currencies from around the world
Economics
Kevin Carney

Is there a pattern to how poor nations create economic value?

This entry is part 9 of 9 in the series Creating Economic Value

In this series of posts, we’ve taken a look at seven nations whose growth in economic value is considered to be somewhat miraculous. The seven

Read More »
November 21, 2021 No Comments
Economic vitality: An image of the of Japan superimposed on a red circle
Economics
Kevin Carney

How did Japan rebuild economic vitality after WW2?

This entry is part 8 of 9 in the series Creating Economic Value

If you found this post via search, it probably makes sense to start with the first post in this series. The link to the full

Read More »
November 20, 2021 No Comments
Economic vitality: Image shows Germany standing out on a outline map of Europe
Economics
Kevin Carney

How did Germany rebuild economic vitality after WW2?

This entry is part 7 of 9 in the series Creating Economic Value

If you found this post via search, it probably makes sense to start with the first post in this series. The link to the full

Read More »
November 19, 2021 No Comments
Economic value: Image of pints of Guinness settling
Economics
Kevin Carney

How did Ireland create high economic value and growth?

This entry is part 6 of 9 in the series Creating Economic Value

If you found this post via search, it probably makes sense to start with the first post in this series. The link to the full

Read More »
November 18, 2021 No Comments
Economic value: Image of Hong Kong skyline and harbour
Economics
Kevin Carney

How did Hong Kong create high economic value and growth?

This entry is part 5 of 9 in the series Creating Economic Value

If you found this post via search, it probably makes sense to start with the first post in this series. The link to the full

Read More »
November 17, 2021 No Comments
Economic value: Picture of the flag of South (the Republic of) Korea with a building and hill in the background,
Economics
Kevin Carney

How did South Korea create high economic value and growth?

This entry is part 4 of 9 in the series Creating Economic Value

If you found this post via search, it probably makes sense to start with the first post in this series. The link to the full

Read More »
November 16, 2021 No Comments
Economic value: An image of the skyline of Taipei Taiwan
Economics
Kevin Carney

How did Taiwan create high economic value and growth?

This entry is part 3 of 9 in the series Creating Economic Value

If you found this post via search, it probably makes sense to start with the first post in this series. The link to the full

Read More »
November 15, 2021 No Comments
Economic value: An image of the skyline of the central business district of Singapore
Economics
Kevin Carney

How did Singapore create high economic value and growth?

This entry is part 2 of 9 in the series Creating Economic Value

If you found this post via search, it probably makes sense to start with the first post in this series. The link to the full

Read More »
November 14, 2021 No Comments
Economic value: Image shows a "sandwich" board supporters of Franklin Roosevelt wore to oppose the reelection of President Hoover.
Economics
Kevin Carney

How do poor nations create high economic value?

This entry is part 1 of 9 in the series Creating Economic Value

A simple question, with answers from across the spectrum While there are many articles and studies on this topic, there seems to be quite a

Read More »
November 13, 2021 No Comments
world trade organization: Image of WTO flag flying next to a Swiss flag
Economics
Kevin Carney

Why what the World Trade Organization does matters

This entry is part 1 of 3 in the series The Neoliberal World Trade System

What is the World Trade Organization? I often find useful definitions on the website Investopedia. Created in 1995, the World Trade Organization (WTO) is an

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November 12, 2021 No Comments
competition between supply chains: image shows a rough representation of a global supply chain.
Supply Chains
Kevin Carney

Are we now in a world of competition between supply chains?

Since any chain is only as strong as its weakest link, and modern manufacturing supply chains are incredibly intertwined, it seems safe to say we

Read More »
November 12, 2021 No Comments
evolution of supply chains: Image shows a system dynamics model of the supply chains of the meat industry in South Africa
Supply Chains
Kevin Carney

How the evolution of supply chains increased our wealth

To give you an idea of the complexity of modern supply chains, and the evolution of supply chains over time, the image at the top

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November 11, 2021 No Comments
Economics of supply chains: The image shows a complex web of supply chains focused around a single computer manufacturer: DELL
Supply Chains
Kevin Carney

Why do the economics of supply chain management matter?

Warning, this blog post is a bit of a rant. Consider yourself warned. And why is the economics of supply chain management generally ignored by

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November 11, 2021 No Comments
Rational expectations theory: Image of the book cover
Economics
Kevin Carney

Why is the rational expectations theory of inflation worth paying attention to?

This entry is part 6 of 6 in the series What causes inflation

The rational expectations theory of inflation is part of the neoclassical focus of modern economics (the word “rational” probably gave it away), which was first

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November 10, 2021 No Comments
Structural theory of inflation: Chart showing Mark-Up Theory and Bottle-Neck Inflation
Economics
Kevin Carney

Does the structural theory of inflation show up in reality?

This entry is part 5 of 6 in the series What causes inflation

First, I wish to state that the structural theory of inflation is the one that I personally understand the least. Likely as a result of

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November 10, 2021 No Comments
Demand-pull and cost-push inflation: Image shows two charts, one for each
Economics
Kevin Carney

What are the Demand-Pull and Cost-Push Inflation Theories?

This entry is part 4 of 6 in the series What causes inflation

While demand-pull and cost-push inflation theories are different, they seem, to me, to be two different sides of the same coin. They are both based

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November 9, 2021 No Comments
Market power theory of inflation: Chart showing the degree of corporate consolidation among consumer brands in the United States
Economics
Kevin Carney

Does the market power theory of inflation explain reality?

This entry is part 3 of 6 in the series What causes inflation

What is the market power theory of inflation? The market power theory of inflation simply states that if a firm, or a collection of firms

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November 9, 2021 No Comments
Quantity theory of money inflation: The picture shows the famous quantity theory of money equation
Economics
Kevin Carney

Why is the quantity theory of money inflation known to be wrong?

This entry is part 2 of 6 in the series What causes inflation

I admit the title of this post is hyperbolic, as the quantity theory of money is not flat out wrong, but it is, at best,

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November 8, 2021 No Comments
What causes inflation: Image shows a bunch of rolls of USD hundred dollar bills
Economics
Kevin Carney

How we can better understand what causes inflation?

This entry is part 1 of 6 in the series What causes inflation

To examine what causes inflation, we must first define what inflation is, and believe it or not, there is some disagreement here. Definitions of inflation

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November 8, 2021 No Comments
Economic vocabulary: The image shows a bunch of "economic speak" words in a poster format
Economics
Kevin Carney

Why our economic vocabulary is in the way of progress: 5

This entry is part 5 of 5 in the series Economic Vocabulary

If you found this post via search, it probably makes sense to start with the first post in this series. The prior posts in this

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November 7, 2021 No Comments
Economic vocabulary: The image shows a bunch of "economic speak" words in a poster format
Economics
Kevin Carney

Why our economic vocabulary is in the way of progress: 4

This entry is part 4 of 5 in the series Economic Vocabulary

If you found this post via search, it probably makes sense to start with the first post in this series. The prior posts in this

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November 7, 2021 No Comments
Economic vocabulary: The image shows a bunch of "economic speak" words in a poster format
Economics
Kevin Carney

Why our economic vocabulary is in the way of progress: 3

This entry is part 3 of 5 in the series Economic Vocabulary

If you found this post via search, it probably makes sense to start with the first post in this series. The prior posts in this

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November 6, 2021 No Comments
Economic vocabulary: The image shows a bunch of "economic speak" words in a poster format
Economics
Kevin Carney

Why our economic vocabulary is in the way of progress: 2

This entry is part 2 of 5 in the series Economic Vocabulary

If you found this post via search, it probably makes sense to start with the first post in this series. It contains ideas that will

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November 6, 2021 No Comments
Economic vocabulary: The image shows a bunch of "economic speak" words in a poster format
Economics
Kevin Carney

Why our economic vocabulary is in the way of progress: 1

This entry is part 1 of 5 in the series Economic Vocabulary

When we talk about economics, we talk about the wrong stuff. Our economic vocabulary causes us to focus heavily on things that matter very little,

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November 5, 2021 No Comments
Reverse logistics: Image shows a reverse logistics pipeline flow
Supply Chains
Kevin Carney

Why reverse logistics is WAY better than recycling

Reverse logistics is a phrase a first stumbled across about a week ago. When I googled for what it means, I was left with the

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November 5, 2021 No Comments
Antitrust laws: The image shows a gavel with the words "antitrust law" written on the sound block
Antitrust
Kevin Carney

Why is it dangerous to NOT enforce existing antitrust laws?

Republican Congressman Ken Buck (now retired) believed in enforcing antitrust laws, to the point of creating new ones when the existing ones do not address

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November 4, 2021 No Comments
Federal reserve repos: The image shows a simplified model of securities flowing in one direction, and money flowing in the other
Banking
Kevin Carney

Why do federal reserve Repos matter? Why do they exist?

If this concept is new to you, the first question is what is a federal reserve repo? Federal reserve repo means Fed “repurchase agreement” A

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November 4, 2021 2 Comments
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