New Left EViews

economist, writer • int'l & european political economy and macro, geoeconomics, history, climate • host: @eurotrashpod, @statesmarkets • ✍🏼 book on trade

[New Left EViews @NewLeftEViews]

An accompanying piece to my Odd Lots episode.
It's not just about the technicalities of comparing living standards: the obsession with relative decline and 'competitiveness' is a form of declinism: "the unwitting last refuge of great power delusions."

🧵 https://t.co/Tv5dlkZU89

[Jason Furman @jasonfurman]

The large decline in NVIDIA's stock price suggests that the marginal product of at least some CEOs is extremely high--often well above their compensation which can be restrained by norms.

[New Left EViews @NewLeftEViews]

@AndreiSterescu It’s something I’d expect to be given to an undergraduate with a “tell me what’s wrong with argument”.

[Adam Johnson @adamjohnsonCHI]

“They’ve killed a lot of Americans” is one of these brainless cliches every blob stenographer cites. Iran has killed approximately zero US civilians in the past 40 years, the US, without provocation, killed 120+ school girls in a double tap strike 9 months ago.

[New Left EViews @NewLeftEViews]

Where do these people come from?

[Lars Christensen @MaMoMVPY]

Do money or deficits explain the surge in inflation after 2019?

I rest my case.

[New Left EViews @NewLeftEViews]

@buffsoldier_96 What’s gives you this idea Ralph, especially about the “independent” part? And who or what “wants” what? If you didn’t imply agency and think it’s purely ideological and structural, then should we look at the outcomes and conclude that “the purpose of a system is what it does”?

[yung🛠walken @as_a_worker]

Watched Scorsese’s Age of Innocence for the first time last night and all I’ll say is they should have ended it with Daniel Day Lewis looking straight at the camera and saying wistfully, “our age of innocence is collapsing”

[New Left EViews @NewLeftEViews]

Vol. 2715: Nobody understands anything about 18th century warfare and everyone condescends the past.

[The Werewolf @Erwin_Rommel8]

هذا اغبى تكتيك عسكري بالتاريخ

[Katy Kelleher @KatyKelleher]

Having one of those days where I mourn the loss of the usable internet. It's become so degraded and empty, so full of bullshit and devoid of life, so much more difficult to navigate and enjoy. It's all platforms, products, sponsored posts, scams, scams, scams.

[Stefan Angrick @stefanangrick]

100% this. This framing also lets DMs avoid confronting their own lack of imagination, much of which stems from policymaking that starts from constraints, real or invented (mostly the latter).

[arne ness @arne__ness]

crazy to see the climate discourse regress in like 2 years from “green transition thru targeted uncapped subsidies with labor & EJ strings attached” to “remove guardrails, fast-track everything, and let the market sort it out.” what happened to the New Washington Consensus guys

[csz @cszabla]

before they even get there they want their own dictatorship: the accrual of all the spoils of the economy leavened only by their own ability to dispense welfare to whomever their high council of EAs deems fit

[Bhaskar Sunkara @sunraysunray]

In @thenation in print and online today with my coauthors asking: "How many self-described socialists really believe in a socialism after capitalism anymore?" https://t.co/XxuyQqLMCz

[aliyah @aliyahshambhala]

When marx said the english working class would never achieve anything that included fascism

[csz @cszabla]

lol if you thought UK utility costs were choking us to death now...

[New Left EViews @NewLeftEViews]

It’s neither a science nor is it ‘value free’ (which is a red herring anyway) and there’s an ocean between this delusional proposition (that nobody serious believes) and the notion that it’s entirely what we make it to be, that everything is just political and that there are no constraints on political ambition that can adequately described by economics/political economy.

[Cruz Marquis @CruzMarquis5]

Economics is ~value free~ science, a point that has been agreed on since the days of Max Weber. Economics knows no political masters, and when one attempts to impose a master on it, it stops being science and devolves into cheap activism.

[Michael Pettis @michaelxpettis]

1/3
Reuters: "His concerns underscore a dilemma for Beijing. While European ‌leaders and IMF officials argue the yuan remains undervalued and unfairly benefits exporters, Chinese policymakers worry that a rapid rise squeezes thin exporter margins, threatens jobs and weakens one of the few reliable drivers of economic growth as domestic demand remains soft."
https://t.co/7gVtsWcmgj

[Rory Johnston @Rory_Johnston]

looked up the definition of confirmation bias and it means exactly what I always thought it did

[talmon joseph smith @talmonsmith]

it's over

[John Merrick @johnpmerrick]

The media, political and think tank elite come from such a microscopic section of the country that they have no idea at all what the country is really like

[Paul De Grauwe @pdegrauwe]

Some people do not learn from mistakes: the European Commission's new fiscal rules of 2024 use 90 percent debt ratio as an additional rule for guiding debt reduction, while this number was debunked more than 10 years earlier. This is not evidence-based but error-based policy.