
Relearning Economics
@RelearningEcon
A system dynamicist specializing it's application for Macroeconomic Forecasting. I am the Chief Research Officer at Modern Macro Technologies
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“Milton Friedman’s misfortune is that his economic policies have been tried.” -John Kenneth Galbraith

On Friday, we will host a discussion with Michael Hudson, Steve Keen and Ann Pettifor. They will discuss Debt, Empire and the Future. It will be streamed on our Youtube channel. Here is the link: youtube.com/watch?v=FLAT2K…
youtube.com
YouTube
Michael Hudson in Conversation with Steve Keen & Ann Pettifor
"they must not allow anyone to put them back in the gold cage"
"But they must not allow anyone to put them back in the gold cage, where they have been pining our hearts out all these years" -John Maynard Keynes
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"But they must not allow anyone to put them back in the gold cage, where they have been pining our hearts out all these years" -John Maynard Keynes
「金本位制は経済を拘束し、成長を妨げるものです。私たちは、これまで心を痛めながら閉じ込められてきた金のカゴから解放される必要があります。経済政策は、より柔軟で自由なものに転換すべきです。」 ケインズ
"But they must not allow anyone to put them back in the gold cage, where they have been pining our hearts out all these years" -John Maynard Keynes
"But they must not allow anyone to put them back in the gold cage, where they have been pining our hearts out all these years" -John Maynard Keynes
Milton Monetary Theory. As if central banks, created and owned by the state sextor, would not have the monopoly on sovereign money. (This was the beginning of taking science out of economics.)
Milton Friedman: “The government doesn’t have any money. Only people have money. The government only gets money by putting its hand in your pocket and taking it out.”
What SHOCKED the World in 1971? youtube.com/live/X1hfAX1v6… via @YouTube @RelearningEcon and @trendingcycles and I discuss what caused the huge shift in income distribution that started in the 1970s.
youtube.com
YouTube
What SHOCKED the World in 1971?
"Their Tableau Économique wasn’t just a diagram of trade; it was the first causal loop in economics"
🔴Going live in 30 minutes! Also the link will lead to the post recorded version as well. youtube.com/live/X1hfAX1v6…
youtube.com
YouTube
What SHOCKED the World in 1971?
"A system is not the sum of the behavior of its parts. It’s the product of their interactions." -Jay Forrester

The discipline of economics has the lowest share of reported p-values less than 0,05. It is because of the plain fact that all assumptions and arguments of mainstream economics are ill-informed, misguided, unrealistic and illogical.
Education, like many fields, clearly has a bias towards significant results. Notice the extreme excess of results with p-values that are 'just significant'. The pattern we see above should make you suspect if you realize this is happening.

100% seen it too many times. Worse most are unwilling to change !
"A bad system will beat a good person every time." -W. Edwards Deming

Countless good people have been beaten by our incomprehensibly terrible system. We need a better system. One with a firm foundation of universal policies that enshrine absolute individual autonomy.
"A bad system will beat a good person every time." -W. Edwards Deming

Thread on why raising interest rates doesn't actually control inflation, which is always initially supply side, not about 'too much money'. I would add that it also protects the value of the lenders' repayments as the currency is devalued by price rises. x.com/RelearningEcon…
We're told central banks fight inflation by raising rates. But rate hikes don't "cool" the economy, they just change who gets paid. So why is it that interest rates don't actually control inflation. 🧵1/12

"A bad system will beat a good person every time." -W. Edwards Deming

Keynes, ever the optomist 😂...
"In the long run we are all dead." -John Maynard Keynes

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