“Milton Friedman’s misfortune is that his economic policies have been tried.” -John Kenneth Galbraith

"Los salarios reales más altos proporcionan beneficios macroeconómicos en términos de mayor demanda (si la economía se basa en los salarios), mayor crecimiento de la productividad laboral y un progreso tecnológico más rápido"

Gonna read this tomorrow.

"Words ought to be a little wild, for they are the assaults of thoughts on the unthinking." -John Maynard Keynes

>> The notion of "voluntary exchange" collapses when people must work to survive. In such circumstances, the freedom to refuse a job is not meaningful freedom at all.

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What's the REAL Connection Between ENERGY and ECONOMICS?

🔴Going live in 30 minutes with @ProfSteveKeen to discuss the missing link in economics when it comes to energy. Link to live and recorded versions: https://t.co/jH5J9sYmbZ

"Words ought to be a little wild, for they are the assaults of thoughts on the unthinking." -John Maynard Keynes

The New Keynesian Investment-Savings curve is time-travel economics.😂 To get demand today, you first need to know what demand will be tomorrow. So DSGE models aren't causal systems they're solved backward, assuming everyone already knows the future.

"This dynamic, called monopsony, means employers pay wages below workers productivity and capture the surplus. The result is a hierarchy, not an auction"

What's the REAL Connection Between ENERGY and ECONOMICS? https://t.co/8WZmlx59xq via @YouTube with @RelearningEcon, @trendingcycles and me at 6pm UK time.

"No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable." -Adam Smith

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"Economics has always been preoccupied with equilibrium. That’s like analyzing how a car works by studying a parked vehicle." -Jay Forrester

"Economists, when they seek to be profound, often succeed only in being wrong." -John Kenneth Galbraith

Imagine for a minute: An economist from one of the least respected schools in economics. Working in a field that is one, if not the least respected social sciences on the planet Being critical of anyone but himself.🤷🏻 The contempt is almost ironic.

"Stability or tranquility in a world with a cyclical past and capitalist financial institutions is destabilizing." -Hyman Minsky

"Economie is in wezen een levende polsslag tussen kapitaal en arbeid. (..) dat kapitalistische economieën zich niet in de richting van een evenwicht bewegen, maar dat ze uitschieten."