This seems pertinent to the current situation… call it perhaps #economists for #ruleoflaw

Galor:
…if the governing institutions fail to prevent the violation of agreements - or indeed racketeering, theft, intimidation nepotism or discrimination - trade is likely to be significant harder and the typical gains it conveys less available.
Citing North, Douglass, Institutions, Institutional Change, and Economic Performance,
Cambridge University Press, 1990.

"While governments outside of Westminster are experimenting with exciting new ideas – #doughnuteconomics, #wellbeingeconomics, #universalbasicincomes, and a #humanrightsfocusedeconomic agenda, to name a few – Britain looks set for another four years of #austerity (or at least austerity-lite) government."

Why I joined 70 #economists and human rights experts urging #Labour to change course | Kate Pickett | The Guardian
https://www.theguardian.com/commentisfree/2023/aug/30/keir-starmer-economic-labour-tories-austerity-britain

This is the work of economists, especially. If you think economists are justifying the status quo, you’ve basically been misled. Sure you can find a few, but most work by economists is in (sometimes subtle but) direct opposition to politicians, their donors (including corporations and the wealthy), and the masses of people who are fooled by them.

🧵 9/9
--
#economists #economics #politics

#economists studying the #useconomy now resemble the parable of The Blind Men and The Elephant!

Nobody knows what's happening with the Citi #economist quoted saying as much.

My take is that a combination of #populism (read #trump and the "hopeless" #republicans), #pandemic, and #putin (again #donaldtrump makes a "guest" appearance here as well) have led to a "bizzare" state of the #american #economy.

AND, that is a PROBLEM for all of us!!

https://www.reuters.com/markets/us/us-growth-puzzle-policymakers-could-pose-global-risks-2023-08-27/

https://jonderickson.substack.com/?r=1taccx&utm_campaign=subscribe-page-share-screen&utm_medium=web&utm_source=direct All #economists are not necessarily status quo, 'rational actor', growth is great types. I've just read #theprogressillusion and it is what I've been thinking for decades but unable to express (at least without bursting into flames due to rage)

#jonderickson, using his educational journey from student to prof to tell the story of how & why the dominance of economics and the continual growth myth came to be and what can be done to change this, sharpish!

Simply excellent

India economic growth likely picked up pace in April-June, according Reuters poll

https://economictimes.indiatimes.com/news/economy/indicators/india-economic-growth-likely-picked-up-pace-in-april-june-according-reuters-poll/articleshow/103039210.cms

India economic growth likely picked up pace in April-June, according Reuters poll.

The #indianeconomy is on a roll, indeed. The Reuters #forecast is around 7.7% in #q2 #fy24. However, the #economists quoted in this #article say this "blistering" and "world beating" #growth simply isn't enough for creating the #jobs needed for #india to actualize a "true" #developed #economy #status.

@fkamiah17 @hughtaylorscifi

I'd say for the most part, most #economists are 'armchair economists' but pretend they're not....

Interesting op-ed on The Conversation.

Can't say I disagree with it.

https://theconversation.com/6-reasons-australians-dont-trust-economists-and-how-we-could-do-better-208833

#TheConversation #Economists

#investors and #economists have become more optimistic in recent months b/c #inflation has subsided, chart @WSJecon https://tinyurl.com/mtafdvxb

#bankers, #economists and #businesspeople returning to #China after 3y of closed borders told #Bloomberg that bland party speak is increasingly replacing the frank conversations with officials that they enjoyed before #pandemic - @economics https://tinyurl.com/3zt4mhak

Predatory pricing used to be illegal, but #ChicagoSchool #economists convinced judges to stop enforcing the law on the grounds that predatory pricing was *impossible* because no rational actor would choose to lose money. They (willfully) ignored the obvious possibility that a #VC fund could invest in a money-losing business and use predatory pricing to convince retail investors that a pile of shit of sufficient size *must* have a pony under it somewhere.

4/

@PythonLinks Setting aside James Cameron, who built his own planet years ago, I feel like our individual strengths can only go so far.

There are quite a number of us who have experience organizing within our communities and beyond. That part (as communities) we know how to do. We don't always get it right, but we have the know-how, and the best organizing often emerges as a crisis bears down.

What we are missing is more like a shared (and trusted) set of clear and achievable priorities: what are the highest-value goals we (in our particular community) might organize toward?

That's where we need something I have not seen - a simple set of priorities scored by #climateScientists, with approximate costs provided by #engineers (and whoever else is needed) and overall "value" to the climate fight scored by #economists and potentially political economists.

That sort of tool will have issues (e.g., how do you weigh the climate impact vs community impact due to poisoning of a leaking oil well), but also, if it is well-conceived and well-executed, incredible power to enable a decentralized movement to maximize our collective impact - through independent, creative, decentralized organizing.

'#Renters Are Struggling': #Economists Back #Tenant-Led Push for Federal #RentControl

https://www.commondreams.org/news/economists-rent-control
"We have seen #corporate #landlords—who own a larger share of the #rentalmarket than ever before—use #inflation as an excuse to #hikerents and reap #excessprofits beyond what should be considered fair and reasonable."
https://peoplesaction.org/wp-content/uploads/2023/07/Economist-Sign-on-Letter_-FHFA-RFI-Response-1.pdf

I'm a bit of a #math nerd, and found Ross Gittin's recent article interesting:
http://www.rossgittins.com/2023/08/nsw-treasurys-new-realism-productivity.html
See, seems all the #economists have been expecting #GDP to increase exponentially, eg by 2% per year (ie, by $2 in the first year then $2.10 in the second year, growing each year)
But recent research shows its actually only growing additively (eg by $2 per 100 a year).
I love it when someone has a revolutionary ('cause it really is) #idea and I go "... oh, yeah, that makes much more sense!"

Clara E. Mattei : »We need to look more critically at what the fascist state did and how its policies facilitated its power. … And who designed those #austerity policies for the fascists? High-profile #economists, most of them politically liberal. Their architecture of austerity—and this link between liberalism and austerity—remain in play today. Austerity is the core of #fascism, even when the austerity is getting administered by a liberal state.« https://www.dissentmagazine.org/online_articles/the-dawn-of-austerity/

@kentparkstreet1 Fucking barbarity, indeed - but all the cunty CEOs and their elected lackeys will argue it's the unseen hand of the market, or some other patent bullshit.

Pretty sure any economist worth their salt could put forward a solid case for universal basic income. Once upon a time, #economists factored *humans* and *society* into their appraisals.

#UniversalBasicIncome #UBI #UBInow

RBI won't revise repo rate, decision to be unanimous: Economists #RBI #Economists #socialnewsxyz

https://www.socialnews.xyz/2023/07/31/rbi-wont-revise-repo-rate-decision-to-be-unanimous-economists/

@AlexJimenez
Uncertainty is a progress of sorts - compared to traditional Fed certainties.

#Economy #economists

It seems to me that the Fed has no clue what to do. The post pandemic economy is weird and they are just making stuff up hoping for positive results.

#Economy #Economists

https://themessenger.com/business/fed-chair-powell-dodged-questions-on-rates-like-muhammad-ali-heres-what-he-did-say

https://www.youtube.com/live/JwmZuxN0LDI

Hate speech on #EJMR comes from a high share of posters and from all types of organisations including high ranking universities. A sobering study by Florian Ederer, Paul Goldsmith-Pinkham, amd Kyle Jensen.

But how representative are those posting on #EJMR for the profession as a whole? How strong is the selection bias and why does this platform attract these people?

#racism #sexism #misogyny #economists