#economics101 — Public Fediverse posts

#economics101
https://www.youtube.com/shorts/UcSb4ytxklY

I am re-reading a book,written a quarter of a century ago. In 2001, Lindy Edwards, at the time a research fellow at ANU, a former advisor in the Depatment of Prime Minister and Cabinet, a political staffer and once a press gallery journalist, published her book *How to argue with an Economist*. I am in Chapter one of the second edition (2007, Cambridge Uni press) atm and completely taken aback by how little has changed in 25 years.

The author writes that after 20 years of #EconomicRationalism reforms (aka #Neo-Classical or #Neo-Liberal economics) of the #Hawke - #Keating and #Howard govts, Australians were convinced the economics were not delivering on the promissed growth and were simply *fed up* with economic rationalism. In 2007 it becamce clear that neither the left nor the right of politics were able to breach *the divide* between the machinery of govt heedlessly pushing on with the economic orthodoxy of the day and the electorate’ hopes and dreams. For a better future. Edwards claims, and I concurr, neither of the major parties were able to catalize a way forward and, I would contend, are currently less than likely to do so this decade.

Reading this book is like taking a refresher in Contemporay #Economics101. **A Quarter of a Century** and we haven’t moved on. Our Govt(s) content to mark time and steer the *steady course* they are famililar with. Twenty-Five years and our political elite is still governing like it was the revolutionary 80s of #Reaganomics and #Thatcherism.

Forgive me for thinking that voting in a bunch of completely wacky nut jobs in 2028 is just what Australia needs to get out of this **rut**. In the final analysis, you have to break eggs to make an omelette, and we are all mighty hungry right now.

#AusPol

Good vs Bad Cryptocurrency in simple words:

#Economics101 #10YearOld
#Edusky

Such myths need to be broken. I will soon write all evidence of UBI.

#Economics101

Best and clearest explanation of Govt #Bonds that I have ever read, it’s from Prof Richard Murphy’s blog (at taxresearch.org,uk ).

” Governments do not borrow because they need money. The government spends first. In doing so, it creates deposits and reserves within the banking system. Taxation then removes some of that money from circulation in the economy. What is left, the deficit, is simply the money that the government has spent but has not yet taxed back.”
“{…} anyone buying a newly issued gilt or government bond does not provide the government with spending power that it previously lacked. Instead, the purchaser exchanges one government liability for another.”

#Economics101 #MMT #GovtBonds #BondMarkets #QuantitativeTightening and #QuantitativeEasing #ReserveBank #CahsRate #BondInterest

My understanding of the above:

A Bond is like the govt giving me an IOU against some of its own currency I exchange for it with a guaranteed repayment in 10 yrs time at set interest. In effect the govt has just removed cash from the economy (fiscal policy) by sequestering it in the IOU (it does this to cool an overheating economy).

I am not allowed to ‘spend’ that IOU, but I can #Trade it for a quick profit (if I can find a buyer). Or, I can use the IOU to secure a loan which I can then spend or invest. Economic activity is thus generated without the govt injecting money (spending) into the economy (it would normally spend to stimulate a flagging economy).

In Australia, Govt bonds are issued by the Reserve Bank (responsible for monetary policy to keep inflation in check and a determined level of unemployment). It can vary the interest rates of these bonds and set the official cash rate to steer the economy where it thinks it ought to be (neo-classical economics here).

So the selling of Govt bonds is not ‘borrowing’ at all just a means to control the amount of cash currency in the economy to keep it bubbling along some predetermined parameters. There is a lot more to this ‘control’ and Murphy addreses it in the article and in the process gives us one of the primary features of the Modern Money Theory (MMT).

I think I have that right. Happy to get corrected.

Read more:
https://www.taxresearch.org.uk/Blog/2026/06/30/what-gary-stevenson-got-wrong-on-bonds/

#economics101
Come on now.

Please don't lie by saying "US shale [is]…saving American families trillions."

US shale oil is sold at the world market price (the West Texas Intermediate #WTI benchmark). Our people get ZERO savings.

However, upstream oil & gas makes big profits!
#SMDH #energy

Economics fedi: Question about commonly discussed/used forecasts. The common forecasts seem to be being updated to include a large shock from the SoH foolishness (with varying assumptions, of course), as one would expect.

My question:
Do any of them also include the reasonably predictable shock from the Colorado River reservoir and dam system shutdown that's coming around the end of the year?

[edit to add] boosts for reach appreciated

#economics101 #economics

I apologise in advance for the #Labor plug. But I have not seen any similar call for signatures on a petition which opposes any privatisation of public assets and services.

Had I been asked to sign a siimilar petition by the Greens or IND I would have.

Please consider the signing to support this worthy social cause.
http://www.nswlabor.org.au/say_no_to_privatisation

#Privatisation has historically been shown to fail miserably and there is no economic reason why that should ever change.

#PrivatisationFallacy #Economics101 #AusPol #NSWPolitics

#tariffs #economics101 #somuchwinning

@RichardSiggs
Linking better #pay to #productivity only fuels the fallacy that productivity increases come from workers working harder. This is a non-sequitur.

Higher wages are required to maintain and improve livelyhood in society, yes. Business owners wishing to improve productivity must reinvest a portion of their profits to modernise production tooling and methods as well as expending funds into ‘research’ for such improvements.

Let’s not give the #grifting system ammunition to squeeze yet more ‘production’ out of workers using old and ineficient #tools and #processes.

Linking higher #wages to productivity is just as damaging as linking so-called wage #spirals to #inflation.

#Economics101 - don’t fall for #neoliberal economic scams

#InUnity #JoinYourUnion #Reinvestment

During 1992–2020, the USA had low and stable #inflation.

Despite massive federal deficit spending, the Fed met its 2% inflation target (or missed below it) for most of this era.

How come? There were no serious shortage of resources. (Thanks to: no cold war, globalization, bad working conditions, stable commodity supply, increase of greenhouse effect.)

#money #deficit #debt #interestRates #yields #price #pricing #prices #value #markup #economy #economics #economics101 #MMT #CPI #commodities

IF A FOREIGN CORPORATION HAS THE OPTION of moving to the U.S. and paying higher wages just to sell in the U.S. for less money...

vs.

Just moving their manufacturing to someplace with extremely cheap labor to offset the #tariff, which do you think they will do? #TooStupidToBePresident #DisasterPresidency #DonnieDumbass #Economics101

(Between the time I found the following link & the time I posted it, the #DOW fell from -1,000 to -1,300.)
https://www.cnbc.com/2025/04/03/stock-market-today-live-updates.html

The Truth About Tariffs: Why You’re the One Paying the Price!

https://polymathchristian.wordpress.com/2025/04/02/the-truth-about-tariffs-why-youre-the-one-paying-the-price/

#Tariffs #Economics101 #Inflation #ConsumerCosts #TradeWars,

@housepanther
Peeps tend to forget who pays the #tarrifs in the first place. Watch the cost of living going up in the US as a result of US tarrifs…that is all you need to know about applying tarrifs. #Economics101

Unfortunately, some voters believed Trump’s promise to lower prices, but how? His tariffs will raise costs.

If Biden couldn’t magically cut prices, how can Trump? His claims are smoke and mirrors, not solutions.

#Economics101 #Truth #DemocratsAbroad

Surprise, surprise! Trump now says lowering grocery prices is "very hard." Who could've guessed that wildly unrealistic campaign promises wouldn't pan out? Maybe next time he'll promise to control the weather too. 🙄 #PromisesBroken #Economics101

https://is.gd/TeqwKv

Down to earth explanation of tariffs and why they don't work, for anyone who still doesn't get it.
https://www.youtube.com/watch?v=cpqXHKKpGuI

#uspoli #tariffs #freetrade #economics101

@hanspetermeyer

And maybe send these small business owners a copy of Henry Hazlitt's "Economics in One Lesson".

#economics #Economics101 #Econ101 #HenryHazlitt #OneLesson #ForDummies

@economics

- So if a bunch of corporations just decide to set higher prices, that's inflation?
- That's right.

A video by Jessica Burbank (via @Sui)
Also at: https://www.tiktok.com/@kaburbank/video/7106974872563191083?lang=en

#MMT #inflation #economy #economics #economics101 #money #tutorial #Fed #FedReserve #debt #interestRates #yields #prices #value #markup #CPI #MMTCowboy #beauty #feminity

@economics

- So if a bunch of corporations just decide to set higher prices, that's inflation?
- That's right.

A video from Jessica Burbank (via @Sui)
Also at: https://www.tiktok.com/@kaburbank/video/7106974872563191083?lang=en

#MMT #inflation #economy #economics #economics101 #money #tutorial #Fed #FedReserve #debt #interestRates #yields #prices #value #markup #CPI #MMTCowboy #beauty #feminity

Texas vs. Russia: Proof that size doesn't always mean prosperity. A state outpacing a nation in GDP and per capita income. 💵 #TexasStrong #Economics101 #GDP #Russia #EconomicFreedom #DidYouKnow

Lawrence: Donald Trump is proposing the ‘worst economic policy in U.S. history
#USPolitics #Project2025 #Economics101 #TarriffsSuck #TheLastWord
https://youtube.com/watch?v=kvJ4XS9_h_0&si=nRZE-Y7jirrXUvDr

I find it weirdly amusing that corporations wants to replace everyone buying their stuff with AI.

They are LITERALLY cutting off the branch they're sitting on.

#Economics101 #AI #Wtaf

Stood on the train again and I’ve got a terrible feeling my podcast has been playing out through my AirPods and the phone speaker for the last half hour… hope everyone enjoyed the latest episode of Political Currency with Ed and George 😬 #Economics101

@not2b @Sir_Osis_of_Liver @tod

Hear, hear. Exactly; it's a link tax. And financially, it makes no sense to pretty much *anyone*, so the companies choosing not to pay to link was both predictable, and in fact predicted by many, many people - pretty much everyone except members of the Canadian #dinosaur #media, #politicians, and anti-capitalism #zealots.

#capitalism #LinkTax #economics #Economics101 #blowback #consequences

#Economics101
#TrickleDownEcononics
#EatTheRich
#TalibansLiberaux
#meme

Learn something new every day.

Global News: ‘I don’t take days off’: Small business owners face brutal hours in talent crunch

Why is it businesses only think #SupplyAndDemand only applies to pricing? It's simple you have a shortage of potential employees (supply) and a huge pool of employers (demand) looking for them, the answer is basic #economics101 you have to pay more, ie. Pay your employees a better wage, and have better benefits. If you don't, you'll go out of business, and deserve too!

https://globalnews.ca/news/9653188/small-business-labour-shortage-cfib/

@RainCityBunnies @Satori

Exactly. There's no worker shortage; there are no "un-fillable positions". There are only positions for which you have not offered a market-clearing wage.

#Economics101 #economics #wages #capitalism #Capitalism101

@david
"Tricle down" is a scam! #Economics101 : the people makes and buys! We make the wheel of economy work! We get pay and become the consumer. If we don't buy, products don't get sold and we get fired... giving money to the rich won't help. They invest or keep it between them to get richer. The truth is "tricle UP"

#capitalism #economics101

-
Capitalism brought us velcro.

-
(pics CC-SA-3.0-Alexander Kink)

What pushes up prices?

Watch the episode: https://youtu.be/sNH8k8E-UkE

#inflation #prices #economics101
https://instagr.am/reel/CnOX0o8jhGu/

A Walk Down Abhimanshri Lane

https://econforeverybody.com/2022/11/23/a-walk-down-abhimanashri-lane/

#economics101 #Pune #mixedusedevelopment

I love the idea that Marketplace is planning on using an OER (open educational resources) economics textbook to do a public bookclub/MOOC/guided self-study of Economics 101. 

Naturally I worry that the participation rates will start high and end low, but the fact that they're enco

https://boffosocko.com/2020/01/28/want-to-succeed-take-an-econ-101-course-marketplace/

#Economics #Education #Listen #SocialStream #EconExtraCredit #Economics101 #Marketplace #MOOC #OER #publiceducation