Summarize with ChatGPTI have now stumbled across two scholars who stated in no uncertain terms that extreme corporate consolidation directly led to fascism in the
Summarize with ChatGPTThe World Bank consists of two of five organizations that together make up the World Bank Group. The World Bank Group The World
Summarize with ChatGPTDisclaimer: I’m learning, so while I strive for accuracy, I’m open to the idea that I don’t fully understand what this international organization
Summarize with ChatGPTFirst, what are oligopolies? Most people are more familiar with the words monopoly and duopoly. A monopoly is when there is only one
Summarize with ChatGPTWheat prices have increased sharply over the past few months and are expected to continue to rise for the foreseeable future. Wheat prices
Summarize with ChatGPTEcological economics, to me, is simultaneously fascinating and depressing. Fascinating because it starts with the natural sciences of ecology, biology, and thermodynamics. Depressing
Summarize with ChatGPTCAN inflation be good? First, let’s compare common definitions of what inflation is. Definitions Investopedia Inflation is the decline of purchasing power of a given
Summarize with ChatGPTIn the neoclassical and Austrian schools of economic thought, government intervention in free markets distorts the “invisible hand” and leads to problems. To
Summarize with ChatGPTWhat is value? How do economists define it? What Adam Smith said The value of any commodity, therefore, to the person who possesses
Summarize with ChatGPTThis is part of our series on the book “What Has Government Done to Our Money?“. This post discusses one of the main
Summarize with ChatGPTFeminist economics is not exclusively about gender issues and inequality. It seems that at its core it analyzes how and why unpaid care
Summarize with ChatGPTHumanity has been banking for about 5,000 years. In that time there have been three competing theories about where the money comes from
Summarize with ChatGPTWith shortages and supply chain challenges in the news so much lately I tried to find a well done explanation I could share
Summarize with ChatGPTNew institutionalism is the economic offspring of neoclassical economics and constitutionalism. New institutionalists believe the quasi rational choices individuals within a market-based economy
Summarize with ChatGPTThe image for this post is a little misleading. Institutionalism is not about what most people consider to be institutions, but rather the
Summarize with ChatGPTPost Keynesian economics is called post Keynesian because the name “Keynesian” was taken,. Ironically, by economists who do not follow the teachings of
Summarize with ChatGPTProfessor Steve Keen states we need new economics because neoclassical economics does such a poor job of modeling how the world and how
Summarize with ChatGPTThe economics of ecocide? This, claims Professor Steve Keen, is one of the primary reasons why we need a new economics. He makes
Summarize with ChatGPTThis post is a summary of the interview below, where Steve Keen talks with Lachlan McCall, the President of the Young Economists Network
Summarize with ChatGPTAustrian economics and libertarianism are not the same things, but there does seem to be a very strong overlap. This post is a
Summarize with ChatGPTThis interview I’m sharing occurred during the annual meeting of the World Economic Forum in Davos Switzerland in 2013, about five years after
Summarize with ChatGPTI’m pretty sure everyone knows Marxism came from the mind of Karl Marx, so the deeper question is what ideas influenced his thinking?
Summarize with ChatGPTMint the coin: Who wants a good old political fight about paying for what we already bought? When Congress authorizes spending, then refuses
Summarize with ChatGPTMint the coin: How can we do that and not increase the debt? US government fiscal and monetary policy Starting after the US
Summarize with ChatGPTThe background: Mint the coin Law Professor Rohan Grey wrote an interesting paper describing how the US government can use an obscure provision
Summarize with ChatGPTJohn T Harvey Ph.D., tell us what the green new deal is and why we do in fact need it. Summary: The Green
Summarize with ChatGPTThose neoclassical economic people love their equilibrium curves? Right? Anyway, this post is a summary of chapter 3 of the book Contending Perspective
Summarize with ChatGPTThis blog post is a summary of an interview where Professor Michael Mainelli, the Executive Chairman of the Z/Yen Group interviewed Warren Mosler
Summarize with ChatGPTThis blog post summarizes a presentation given by Simon P. Michaux on 20 Sep 2021 during the workshop Are There Biophysical Limites to
Summarize with ChatGPTThis blog post series is my attempt to summarize, and do justice, to the book Contending Perspectives in Economics by John T Harvey
Summarize with ChatGPTThe video below is an interview with Rana Foroohar, being interviewed by Bob Herbert on Op-Ed TV. She makes an incredibly clear statement
Summarize with ChatGPTWhen Congress directs the US treasury to do something that requires new US dollars to be created, what is the process of that
Summarize with ChatGPTA nations wealth: Summary (as in, not a word for word transcript) “Mark Twain said sometimes it’s easier to fool people than to
Summarize with ChatGPTSomeone shared the tweet thread below with me on either Facebook or Twitter (can’t remember) and it’s EXCELLENT. So I’ve recreated it here,
Summarize with ChatGPTThe Cowboy Economist, John T Harvey, PhD, explains how the (currency issuing) government finances its deficits. I added currency issuing, as in the USA,
Summarize with ChatGPTI’m seeing a lot of people on social media make comments that reveal that they do not understand the basic principles of the
Summarize with ChatGPTThe Cowboy Economist, John T Harvey, PhD, explains how the private sector finances its deficits. Summary (as in, not a word for word
Summarize with ChatGPTThe Cowboy Economist is John T Harvey PhD, an economics professor at Texas Christian University in Fort Worth, Texas, who makes humorous and
Summarize with ChatGPTHalf of the 2021 Nobel Prizes in Economic Science went to David Card, of the University of California Berkeley (who got his traditionally
Summarize with ChatGPTThe economics media is a buzz with news of the newly announced winners of the 2021 Nobel Prize in Economic Sciences, of which
Summarize with ChatGPTThis is really a question or inquiry from me. I’m not an economist. Both of these terms are fairly new to me. Economic
Summarize with ChatGPTI listened to an interview of Warren Mosler by Bob Murphy, for episode 18 of The Bob Murphy Show podcast. If you wish
Summarize with ChatGPTMedicare for all is one of the hot button political issues of our time. Americans spent A LOT for healthcare As measured in
Summarize with ChatGPTBut, currency issuer government deficit spending only To be clear, this applies to currency issuing governments ONLY. In the US, this is true
Summarize with ChatGPTSays who? What absolute idiots would ever say something so stupid? Alan Greenspan, former Chairman of the Federal Reserve “There is nothing to
Summarize with ChatGPTToday, the phrase free market is generally used to mean free of government intervention. Yet, many economists and students of economics claim that
Summarize with ChatGPTAs I stated when I first mentioned Nick Hanauer a few posts ago, he is NOT an economist and he is NOT an
Summarize with ChatGPTSince Warren Mosler accidently created this MMT thing, what is considered to be a new school of economic thought (or perhaps it’s a
Summarize with ChatGPTSince Warren Mosler accidently created this MMT thing, what is considered to be a new school of economic thought (or perhaps it’s a
Summarize with ChatGPTSince Warren Mosler accidently created this MMT thing, what is considered to be a new school of economic thought (or perhaps it’s a
Summarize with ChatGPTSince Warren Mosler accidently created this MMT thing, what is considered to be a new school of economic thought (or perhaps it’s a
Summarize with ChatGPTThe most interesting thing, at least to me, about the story of Warren Mosler and the development of MMT (Modern Monetary Theory) is
Summarize with ChatGPTModern Monetary Theory is an economic school of thought that starts with the fiscal operations whereby currency issuer Treasury Departments and Central Banks
Summarize with ChatGPTIs the US government broke? For real? Actually no, the US government is not, and can not, go broke Consider that the US
Summarize with ChatGPTThe short answer is the “pay for ” mechanism of the US government is through a Congressional appropriation. WTF? They just vote US
Summarize with ChatGPTIn his seminal work The Wealth of Nation, Adam Smith told a story of how barter is inefficient, could only occur when there
Summarize with ChatGPTIn our last episode of “What is money?”, we left off with… Now, for the first time, people travel. Some villagers from various
Summarize with ChatGPTWhat is money? The generally accepted definition of money I was taught in High School Economics class is “Money is a medium of
Summarize with ChatGPTHas it occurred to you while we do ask how we will pay for the Green New Deal, there are some things for
Summarize with ChatGPTThe video below is of a man named Warren Mosler explaining how job training is not enough to reduce unemployment. He uses the
Summarize with ChatGPTThis is part of our series critiquing the book “What Has Government Done to Our Money?“. This post discusses the federal government taking
Summarize with ChatGPTThis is part of our series critiquing the book “What Has Government Done to Our Money?”. This post discusses the (I believe Libertarians’)
Summarize with ChatGPTThis is part of our series on the book “What Has Government Done to Our Money?“. This post discusses the supply of money,
Summarize with ChatGPTThis is part of our series on the book “What Has Government Done to Our Money?“. This post discusses two of the main
Summarize with ChatGPTThis is part of our series on the book “What Has Government Done to Our Money?“. This post discusses one of the main
Summarize with ChatGPTThere is a common narrative in our culture that high marginal income tax rates are bad for the economy. People who are incredibly
Summarize with ChatGPTNo, the currency issuer can not spend endlessly I’ll use the USA again in the examples below. The US federal government (the currency
Summarize with ChatGPTBefore we talk about the currency issuer vs currency users, let’s first think about where currency comes from in the first place. Important
Summarize with ChatGPTYes, it does get a bit technical, but it’s something anyone can understand when it’s explained with a minimum of technobabble. What is
