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heterodox Econ

heterodox Econ

by Luemas91 Luemas91

All your favorite heterodox Economists // Made at BlueskyFeeds.com

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  • 💙 Liked by 9 users
  • 📅 Updated almost 3 years ago
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Prof Julia Steinberger 🌹🌱🌍 #ClimateAction #Fightfascism
@jksteinberger.bsky.social
about 1 hour ago
Just a regular reminder that Struthless is probably the best thing on the youtube internet right now, and that his latest video (a documentary on digital dystopia) is essential viewing, for all the reasons, content, wisdom, wacky visuals. youtu.be/aLPrNSFLb2U?...
Still "a million tiny compromises" from Struthless video.
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Prof Julia Steinberger 🌹🌱🌍 #ClimateAction #Fightfascism
@jksteinberger.bsky.social
about 1 hour ago
And also watch all his other videos and also buy his book(s). He is lovely and great and has improved my life personally in terms of mental health insights and advice, so there is that too. 😍
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socdoneleft
@socdoneleft.bsky.social
about 7 hours ago
THANK YOU
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JW Mason
@jwmason.bsky.social
about 11 hours ago
Right but the renminbi is an outlier here. In general it would be perfectly feasible for countries to match the currencies they transact in with their “real” trade connections. The fact that they don’t suggests a problem with the argument that multiple international currencies work better than one.
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JW Mason
@jwmason.bsky.social
about 11 hours ago
(It’s not actually obvious to me that borrowing in euros is a great idea for Poland.)
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JW Mason
@jwmason.bsky.social
about 11 hours ago
But with the exception of the RMB and a very small handful of other currencies, this possibility already exists. Yet people overwhelmingly choose to transact in dollars. Why?
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JW Mason
@jwmason.bsky.social
about 11 hours ago
Well let me ask you: why is such a disproportionate share of reserves, and an even more disproportionate share of trade invoicing, in dollars then?
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JW Mason
@jwmason.bsky.social
about 11 hours ago
You have to wonder if a memo went out from somewhere like CAP suggesting that people do this.
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JW Mason
@jwmason.bsky.social
about 11 hours ago
I am not seeing this. Clearly, every additional currency that is used to denominate cross-border transactions makes the challenge of matching assets and liabilities harder, no?
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Jason Hickel
@jasonhickel.bsky.social
about 16 hours ago
The data comes from this paper, just published in New Political Economy, where you can find the full results and discussion. www.tandfonline.com/eprin….
Unequal exchange between France and Africa’s CFA zone: monetary dependency and imperialist appropriation

www.tandfonline.com

Unequal exchange between France and Africa’s CFA zone: monetary dependency and imperialist appropriation

The material prosperity of the global North relies on the appropriation of labour and resources from the global South through unequal exchange. While recent empirical research demonstrates this gen...
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Jason Hickel
@jasonhickel.bsky.social
about 16 hours ago
Clearer image here.
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Jason Hickel
@jasonhickel.bsky.social
about 16 hours ago
Who is draining Africa? This figure shows net-appropriation of resources from Africa's CFA zone, illustrating two key facts. 1) Eurozone countries are the biggest appropriators, benefitting from the Francafrique system. 2) Contrary to conventional Western narratives, China's appropriation is tiny.
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JW Mason
@jwmason.bsky.social
about 20 hours ago
The authors of the FT piece are rightly skeptical that the era of dollar dominance is ending any time soon. But their preferred alternative of a multi-polar system of competing currencies seems to brush past the question of why reserve currencies exist in the first place.
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JW Mason
@jwmason.bsky.social
about 20 hours ago
Here's the dollar share of reserves over the past 30 years. As you can see, the years around 2000 saw an exceptionally high share of dollars in global reserves. This was connected to the creation of the euro, which meant European countries no longer needed reserves of each other's currencies.
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JW Mason
@jwmason.bsky.social
about 20 hours ago
You often see statements like this. While they're not false, they are a bit misleading imo, because they suggest a long steady decline, when in fact 1999 saw the highest share ever of dollars in global reserves. Go back to the mid 90s, and the share was similar to today's. www.ft.com/content/1481...
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JW Mason
@jwmason.bsky.social
about 23 hours ago
A drawback to this medium is that it is hard to tell when people are being sarcastic.
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Joey Politano🏳️‍🌈
@josephpolitano.bsky.social
1 day ago
Uniqlo! (like conservatively ~1/2 of what I own lol)
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Joey Politano🏳️‍🌈
@josephpolitano.bsky.social
1 day ago
Just Watched: Space Jam With Lawyers
A picture of me in front of a Coyote vs ACME poster
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socdoneleft
@socdoneleft.bsky.social
1 day ago
Congrats!
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JW Mason
@jwmason.bsky.social
1 day ago
Will give him another shot.
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JW Mason
@jwmason.bsky.social
1 day ago
Also: what the USSR had above all was a dysfunctional *political* system. It always astonishes me how people talk about the USSR and its satellites as some kind of best case for planning, as if Stalin was really trying to supply an abundance of consumer goods but the system just couldn't do it.
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JW Mason
@jwmason.bsky.social
1 day ago
I must note we wrote this as an op-ed to try to place ... somewhere or other. And of course didn't. I've been doing this kind of work for long enough to know that writing on spec is never a good idea, but we let ourselves get talked into it. Won't make that mistake again.
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JW Mason
@jwmason.bsky.social
1 day ago
While it doesn't say so explicitly, this post is in part an argument for the "socialist calculation debate" is irrelevant to the question of why historical capitalism has been so successful at developing our collective capacities for production.
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