GhostOnTheHalfShell

GhostOnTheHalfShell, 19 days ago (edited 19 days ago) to Economics

@economics@a.gup.pe #SteveKeen #mmt #economics

File this under the heading economics is not even a dismal science, because mainstream economics isn’t even science. Economics could actually be a rigorous discipline, if orthodoxy can be kicked out.

“ In contrast to its attitude to private debt, which it ignores, mainstream economics obsesses about government debt. But this volte-face doesn't besmirch its record of being 100% wrong.”

https://profstevekeen.substack.com/p/its-a-mixed-credit-fiat-world-e3f

GhostOnTheHalfShell, 19 days ago to climate

may 5

#climatechange #economics

Raging weather on infinite loop.

Do I need a swimsuit or a houseboat?

3 min video

https://youtu.be/TQbO2_OLhy0

GhostOnTheHalfShell, 21 days ago (edited 21 days ago) to academicchatter

@academicchatter @economics@a.gup.pe

18 min

More or less spot on about the cost of housing and higher education. One aspect is “we” is misplaced. The Koch network intended this fate. They’ve worked to this end for 50 years.

• hilarious presentation even if I quibble over some of it.

Billionaires hate us, that is why they are pulling apart the republic and democracy all over the world. It’s them or us. They want tyranny and we want our lives.

https://youtu.be/qEJ4hkpQW8E

GhostOnTheHalfShell, 23 days ago (edited 23 days ago) to random

@economics@a.gup.pe
#SteveKeen #mmt #economics

"Before I show why he fails, I want to clarify what it means to say that banks create money “out of nothing” (Schumpeter 1934, p. 73). It definitely does not mean that banks create money via magic. What it means instead is that there is no other account from which a bank loan is financed, whereas there is such an account for a non-bank loan."

🧵
https://profstevekeen.substack.com/p/selgins-hot-air-on-bank-money-creation

GhostOnTheHalfShell, 24 days ago to random

@economics@a.gup.pe

@scottsantens

I want to suggest an umbrella concept:

Universal Basic Sustenance

Where communities the world over rework themselves away from "comparative advantage" and mainstream economic development and focus instead on securing their food, water, energy and housing locally.

https://masto.ai/@GhostOnTheHalfShell/112368322178670035

GhostOnTheHalfShell, 25 days ago to Humor

#humor

Nazis are not what they used to be. Kids these days! 😂

3 min

https://youtu.be/0jLI-1-1Fe8

GhostOnTheHalfShell, 25 days ago to Economics

@economics

#economics #ubi @ineteconomics (inactive but sheesh!)

2 min

Gee, baby bonds (or ubi) or tax cuts for billionaires? :ablobthinking: decisions decisions

https://youtu.be/-E--1xRydV0

GhostOnTheHalfShell, 25 days ago (edited 25 days ago) to random

#climatechange #mars #permaculture #STEM

Let me disabuse you of the idea that a Martian colony is the way to save mankind.

Survival on Mars is 1000x more difficult with no free flowing water, no atmosphere, no ozone, no magnetosphere, much less solar radiation to power anything including biological life.

Choosing Mars is picking the absolute worst probability to beat gambler's ruin.

Even a 3' warmer Earth is better.

The first IQ test is to stop pursuing stupid ideas as a magic bullet.

🧵

GhostOnTheHalfShell, 25 days ago to random

#zeteo #uspol

6 min

crazy Iran…

https://youtu.be/xDGm-LAKXuM

GhostOnTheHalfShell, 26 days ago to climate

#climatechange

8 min

The heat index that kills. I fear this year will be the year where heat index will cause food crises or derail the world’s factory for months. Not only the phones, tvs, toasters, ans washing machines, but the manufacturing machines and all their components in production and maintenance.

Will it be a trigger point that causes a major shutdown of the world economy for months on end?

https://youtu.be/9_IQ-Odcv1U

GhostOnTheHalfShell, 26 days ago to climate

@economics@a.gup.pe

#climatechange

Often I grouse about climate change being more than its extreme weather parts, that frequent natural disaster renders existing infrastructure unfit for purpose or destroys it. All across the world, developed or developing, dams are aging out in a climate they were never designed for, rendering them unfit for purpose, dramatically shortening their useful life or outright destroying them. And here we are.

https://youtu.be/eaux85hDcwQ

GhostOnTheHalfShell, 27 days ago to academicchatter

@economics@a.gup.pe
@academicchatter

#SteveKeen

So you're in social sciences and mainstream economists giving you grief? How about some ammo?

"Therefore, empirical data and mathematics, the weapons that Neoclassical economists like to wield to intimidate other social sciences, can instead show that their paradigm is based on myths rather than science.

https://profstevekeen.substack.com/p/puncturing-the-hubris-of-economics

🧵

GhostOnTheHalfShell, 28 days ago (edited 28 days ago) to climate

April 28

14 min

When incentive structures are unfit for purpose.

https://youtu.be/6Sq2yft87sE

#climatechange #economics

GhostOnTheHalfShell, 28 days ago to random

If we eject all the billionaires into geo sync orbit as solar shields, I think we could cool the earth.

GhostOnTheHalfShell, 28 days ago (edited 28 days ago) to geopolitics

@economics@a.gup.pe

#StrongTowns #ushistory #housing #uspol #economy

20 min

History is useful.

Useful history on US housing and economy from the great depression since to today’s deeply messed up housing and economic structure. Also the US housing market can be fixed through local measures. Cities have taken the first step to loosen zoning laws; financing remains a challenge.

https://youtu.be/OtJD45cTV9c

GhostOnTheHalfShell, 29 days ago to random

"Break things and move fast", ; says every vandal down the ages

GhostOnTheHalfShell, 29 days ago to random

The vast international cabal trying to rule the world are checks notes billionaires, and checks notes they were forced to.

"[B]oth the U.S. and Soviet governments are controlled by the same furtive conspiratorial cabal of internationalists, greedy bankers, and corrupt politicians. If left unexposed, the traitors inside the U.S. government would betray the country's sovereignty to the United Nations for a collectivist New World Order, managed by a 'one-world socialist government'."

🧵

GhostOnTheHalfShell, 29 days ago to Economics

@economics@a.gup.pe

#mmt #economics

So I had this back and forth on yt over tangible (bank notes) vs digital money. It didn’t terribly surprise me that the individual insisted I didn’t understand that bank notes and digital money represented an accounting process, when I had been talking about how the medium very much influences logistics of the message.

🧵

GhostOnTheHalfShell, 29 days ago (edited 29 days ago) to random

@economics@a.gup.pe

#mmt #SteveKeen

"When the Swedish Central Bank awarded its fake "Nobel" in Economics (Offer and Söderberg 2016) to Ben Bernanke, for a model of banking in which bank loans don't create money, the so-called "Scientific Background" paper for his Prize did not even cite the Bank of England's contrary declaration about bank lending (Committee for the Prize in Economic Sciences in Memory of Alfred Nobel 2022)."

🧵

https://profstevekeen.substack.com/p/puncturing-the-hubris-of-economics

GhostOnTheHalfShell, 29 days ago to Economics

@economics@a.gup.pe

#StrongTowns #taxes #economics

9 min

not surprising. the poor subsidize the wealthy.

https://youtu.be/vfZbvSWmmFM

GhostOnTheHalfShell, 1 month ago to random

#audacity #askfedi

So they've posted an update, but I wanted to ask around here, because audacity had taken some problematic steps in the past.

Is it radioactive or not?

GhostOnTheHalfShell, 1 month ago to random

@economics@a.gup.pe

#mmt

I have one big critique of economists: it's the absurdity and questionable analytical results arrived upon depending on where analysis starts in the system.

What ecologist demands a description of a bug's life cycle must begin at one stage of their life cycle, and that the model constructed depends on that choice? Which comes first, the aphid or its egg?

🧵

https://www.cambridge.org/core/books/monetary-theory-of-production/A813BE586E79CDF0DE7C3D930DBF632F

GhostOnTheHalfShell, 1 month ago (edited 1 month ago) to random

@economics@a.gup.pe

#SteveKeen

Chapter 9 from his forthcoming book Rebuilding Economics from the Top Down

chap 9 discusses why system dynamics is the preferable method for economic modeling and touches on why it is ignored by mainstream economists. Discussion of practice, which applied math types, scientific modelers and engineers should appreciate

🧵

https://open.substack.com/pub/profstevekeen/p/the-system-dynamics-route-to-modelling

GhostOnTheHalfShell, 1 month ago (edited 28 days ago) to ai

#SingularityAndU

Apr 20

4 min

Why TechBroInc and their Skynet darling are going to be outclassed for a long time yet by people.

https://youtu.be/90RuBUg0DR4

#essay #AI #humor #LLM

GhostOnTheHalfShell, 1 month ago to random

@economics@a.gup.pe

This is punching back after 50 years of mainstream grift. Cory plays economic observer:

"You know: supply and demand. ... The employer has overheads (rent on the shop, inventory, advertising and administration) that they have to pay out of their end of that surplus. But workers also have overheads: commuting costs, child-care, a professional wardrobe, and other expenses the worker incurs just so they can make money for their boss."

🧵

https://pluralistic.net/2024/04/19/make-them-afraid/#fear-is-their-mind-killer