The US is in uncharted territory. Never before have stocks been so high relative to wages. Here’s what it means.

In a new video, Jonathan Nitzan demolishes the neoclassical theory of prices. Here’s a summary and some consequences.

I’ve always been baffled why ‘modern monetary theory’ is called a theory . I don’t mean this in a disparaging way. As far as theories of money go, I think modern monetary theory (MMT for short) is the correct one. But having a correct theory of money is a bit like having a correct theory of traffic lights. Traffic lights (like money) are a social convention.

I discuss biophysical constraints on our ability to cope with the current pandemic.

Has the digital revolution made wealth non-material?