The latest episode of A History of Capitalism is now out!
Capitalism, at its outset, was a very violent and warlike affair. In this episode, we will explore the historical model known as war capitalism and how military might was essential for granting European merchants access to the markets of Asia.
Can someone recommend environmental and ecological #economics literature from the moral perspective that the only relevant metric is #WildAnimalWelfare What economic policies would have the best impact in reducing wild animal suffering?
Angola leaving OPEC over production cuts & inflated oil prices suggests that oil markets are in similar conditions to those of the early 80s. Back then, OPEC was riding high off of the 1979 Oil Shock's record prices. Howver, even as early as 1980 they knew inflation had devalued their windfall and that only got worse as interest rates rose. These prices also drove investment in alternative energy sources like the North Sea oil. 1/2 https://www.bbc.com/news/world-africa-67793369 #oil #OPEC #econtwitter #Economics
The only way to fix the "cost of living" problem is for wages to rise to catch up with past inflation. Anything else is fiddling at the edges. #econtwitter
CW: Anti-Semitic violence and the enslavement and genocide of indigenous peoples in the Americas.
In 1492 Columbus sailed the ocean blue or at least that's how the rhyme goes. It's time to dive in to Columbus' place in the history of capitalism, why Spain and Portugal were at the forefront of European maritime expeditions, and how they carved up the world.
"#Fintech" is a fraudulent marketing term. There's nothing Buy Now Pay Later companies offer that couldn't have been done 100 years ago. They just replace interest with penalties for late payment.
Upton Sinclair described a similar racket in The Jungle (set in 1920s, I think). Home loans with no money down and low interest, but if you miss a single payment you lose everything.
Hello! We're new to this instance, but not new to Mastodon.
The W.E. Upjohn Institute for Employment Research is a not-for-profit, nonpartisan, independent research organization, founded in 1945 to study policy-related employment issues and to implement workforce solutions.
We'll share the latest employment research and highlights from the workforce development practice here. #introduction#econtwitter
"The Well-Being of Indigenous Communities in the Pacific Northwest: Anthropometric Evidence from British Columbia’s Jails, 1864-1913", new working paper from Ian Keay & Kris Inwood https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4544077
#FreeToRead deep historical analysis of the Great Wall, censorship, marital fertility, commercial trust, artisanal skill transmission & more in Asia-Pacific Economic History Review special issue. Thoughtful intro & overview by guest eds Zhiwu Chen & Chicheng Ma http://ow.ly/q1in50PlUr7
"Francesca Gino has filed a $25 million defamation lawsuit against Harvard University and the @datacolada bloggers ( @uri_sohn , Leif Nelson, @jpsimmon )."
Give a million average people $600 and they will spend it all in the economy. If a million people give $600 to a billionaire, he has another $600 million to sit on.
This is why we have inflation. When we create wealth it eventually gets hoarded instead of recirculated, devaluing our currency.
If we tax excess wealth and support workers by legislating better wages, and bust monopolies instead of unions, that would fight inflation. Return the money to the people.
@MollyNYC@ned The whole defense of #capitalism supposedly based on #economics is based on obfuscating the actual legal structure of property rights under capitalism in favor of a metaphor about division of the product. In terms of that actual structure, the employees of a firm legally own 0% of the positive and negative product of the firm while the employer legally owns 100% of the whole product
Is it very straightforward to run Julia code on GPU? Does it need special CUDA rewrites to work?
I do a lot of value function iteration for dynamic programming problems (I need global characterizations, approx around steady state doesn't work). Has anyone done this much in Julia? How's your experience been?
For non-economists, I’m referring to a paper that will be released soon on a forum called EconJobMarketRumors. It allows anonymous posting, so you can imagine the type of posts that get written. The paper leaked and is quite interesting from a technical perspective.
#EconTwitter folks: say you have an impulse response function and a series of shocks. What's it called when you aggregate the IRFs over the shock series? @childers any idea?