‘Americans are literally getting squeezed’: A top economist on why your wages are disappearing while the rich keep booking vacations
fortune.comu/ChiGuy6124 — 4 days ago
r/OutlawEconomics
My new book on business cycles, MMT, and the Job Guarantee
(Mods, thank you for allowing me to post this!)
Hi, all, please consider this exciting book for part of your summer reading (okay, not all that exciting unless you love economics like me)!
[https://www.cambridge.org/core/books/us-business-cycles-19542020/E5871AD9A3B705F28F50A68EE9D54D3B](https://www.cambridge.org/core/books/us-business-cycles-19542020/E5871AD9A3B705F28F50A68EE9D54D3B)
Cambridge University Press kindly made the paperback and eBook pretty affordable ($33), plus there’s a 20%-off discount (until 2027) if you add HARVEY25 at checkout.
I hope the volume has a little something for everyone:
• Ch1 through 3: Business cycle and inflation theory;
• Ch4: narrative history of US business cycles (framed in the theory from ch1-3);
• Ch5: MMT and Job-Guarantee heavy policy recommendations, kindly vetted by Pavlina Tcherneva and Randy Wray;
• Appendix: graphs and equations!
If you’d like to know more, the world-famous Cowboy Economist has a video that explains the structure of the volume:
[https://www.youtube.com/watch?v=vXRC3RrngcI](https://www.youtube.com/watch?v=vXRC3RrngcI)
I want to also add that I owe a great debt to those who wrote some very kind endorsements: Randy Wray, Stephanie Kelton, Pavlina Tcherneva, and Jamie Galbraith.
Please let me know if you have questions!
John
P.S. And don’t forget my previous volume on different contemporary schools of thought in economics:
https://www.e-elgar.com/shop/usd/contending-perspectives-in-economics-9781802203264.html
EDIT: Tried to fix the formatting. I'm not good at Redditing!
u/Edgware_Volunteer — 11 hours ago
Assume we have such an economy, but with military spending at the normal modern levels, strong rule of law (even if the law is severly limiting economic freedom), low corruption level, high emphasis on good management of state-owned enterprises within the framework of the system, next to none direct political interference in economic matters and emphasis on consumer goods and services rather than heavy industry. What would then be the approximate structural constraints of this economy compared to a Western capitalist one in terms of GDP per capita as well as other measurable factors regarding the quality of life?
u/Odd_Eggplant8019 — 13 days ago
Linking hydrology and economics to assess the social cost of water pollution
Drinking water is very underestimated even though it is the most important resource we use daily. Only 3% of global water supply comes from freshwater. Nearly 50% of all drinking water worldwide is sourced from groundwater. Yet we continue to pollute these sources and rely on cost prohibitive desalination plants, which produce harmful brine.
u/guacaratabey — 5 days ago
Marginal product of capital and interest rate
Why is the marginal product of capital not equal to the interest rate? What does the marginal product of capital actually represent?
u/Annual_Necessary_196 — 8 days ago