2/3 US ‘over-consumption’ is sustainable in the first place because the same surplus economies the IMF blames for excess saving do keep on holding dollars, allowing US banks to keep running the printing press and finance import demand, without hitting the ceiling all other countries hit.
One of my most galaxy-brained takes is that politicians and political groups should talk more about workers’ share of national income. It's one of the clearest, simplest ways to describe how billionaires and corporate elites captured so much of the economy--and something policy can change.
U.S. workers' share of national income falls to a new low
Labor's bargaining position has worsened markedly in the last half-decade.
axios.com
So excited to be at the London School of Economics on Oct 22nd to discuss my new book Sea Change: The New Great Game in the Arctic Circlehttps://www.lse.ac.uk/international-relations/events/2026/sea-change-the-new-great-game-in-the-arctic-circle
Read what we found out about Trump's drug pricing deals: www.citizen.org/news/trumps-...
Trump’s Drug Pricing Deals Favor Big Pharma Over Patients, Public Citizen FOIA Finds - Public Citizen
WASHINGTON, D.C. – In response to a Public Citizen Freedom of Information Act (FOIA) request, the U.S. Department of Health…
citizen.org
I tried to do my part writing Anti-fascist Economics. Preorder Links below. But we need more than books. We need a course correction and we need it fast. US edition: www.penguinrandomhouse.com/books/804175... UK & international edition: www.penguin.co.uk/books/476377...
AI is unpopular. The public overwhelmingly supports aggressive AI regulation; it overwhelmingly opposes further investment in AI infrastructure. Naturally, Dems are telling frontline members to ̶d̶o̶ ̶p̶o̶p̶u̶l̶a̶r̶i̶s̶m̶ curl into the fetal position to appease the mean tech men. There is another way.
A.I. Risk And The End Of The Neoliberal Style In Politics
You can’t make pragmatic compromises with predatory counterparties.
offmessage.net
Just in time for the latest oil price spike, we published our article urging the ECB not to hike rates to fight a supply shock. Europe needs a new inflation governance for shockflation. We need disaster preparedness for essentials instead of increasing investment costs.
The AfD slogan in Saxony-Anhalt is: "Everything is possible." We cannot afford to leave the far right a monopoly over the alternative to an unbearable status quo. That's why I wrote Anti-fascist Economics. Thrilled that @leaypi.bsky.social sees my book as helping us see a feasible, better future. 🌹🌾
The encyclical also refers to two imperialisms, which undercuts this claim.
Christopher Hale@christopherjhale.bsky.social · 2w agoPeter Thiel told the Aspen Ideas Festival this summer that Pope Leo XIV is “working for the Chinese Communists” because his encyclical calls for AI regulation.
Caixin: "China has established a framework for determining when manufacturers are selling goods below cost, giving regulators a clearer basis for intervening in price wars. The move forms part of Beijing’s broader campaign against so-called involution." www.caixinglobal.com/2026-09-11/c...
China Sets Cost Rules to Curb Industrial Price Wars
The NDRC and the market regulator have published a unified methodology to determine whether manufacturers are engaged in illegal low-price dumping
caixinglobal.com
Fellow @isabellamweber.bsky.social am 5.10. in der Urania - Tickets online leider schon ausverkauft
Isabella M. Weber@isabellamweber.bsky.social · 4w agoWir können die Alternative zum status quo nicht länger den Rechtsextremen überlassen. Deshalb habe ich Antifaschistische Wirtschaftspolitik geschrieben. Aber es braucht nicht nur ein Buch sondern ein breites Bündnis. Deshalb präsentiere ich im Gespräch! Link im Kommentar.
3/3 This is perhaps easiest to see in wage policies. When some economies become competitive in manufacturing because of low wage growth relative to productivity growth, this forces their more open trade partners to choose between adopting similar policies and deindustrializing. x.com/michaelxpett...
Michael Pettis (@michaelxpettis) on X
Financial Times: "Thailand’s household debt stands at 86 per cent of GDP, the highest among upper middle-income countries in the world, according to HSBC, with consumers using loans to fund daily expe...
x.com
One of those things you were pretty sure was true but now you have causal quantiative evidence in the American Economic Review: business schools trained CEOs to pay workers less in pursuit of maximizing shareholder value www.aeaweb.org/conference/2...
"The warehouse worker and the software engineer are in the working class because the reason there’s no air conditioning in the warehouse is the same reason the engineer has to move across the country to return to the office," writes @joewrote.bsky.social. www.joewrote.com/p/why-libera...
Why Liberals Can’t Define “Working Class”
The distinction between capital and labor doesn’t fit their worldview. No wonder a coherent definition escapes them.
joewrote.com
We should diversify supply chains, but traditional trade rules won’t do the trick. They’re how we got here in the first place.
What's Going on With Shipping (Sal Mercogliano)@mercoglianos.bsky.social · 3w agoOver 50% of vessels delayed at Asia’s busiest container ports Congestion at Asian ports has been driven by extreme weather events and wider supply chain disruption www.seatrade-maritime.com/ports-logist...
The share of national income going to corporate profits is the highest it’s been in nearly a century. And sales at dollar stores are up. “Our core customers continue to be financially constrained,” Dollar General's CEO said. Inequality, summed up in a quote. prospect.org/2026/09/01/t...
Trump’s ‘Golden Age’? Well, Yes—for Dollar Stores - The American Prospect
Sales are up at the modern-day bargain basements, as more financially stressed Americans are compelled to shop there.
prospect.org
We are also going to need to talk about what makes a company “American.” thefactcoalition.org/oil-and-gas-...
New Report Reveals U.S. Oil and Gas Companies Pay More Tax to Petrostates Than to the U.S. Government
FACT’s latest report analyzes the tax disclosures of 11 U.S. oil and gas multinational companies, and calls for the elimination of harmful subsidies for extraction abroad.
thefactcoalition.org
Michael Pettis@michaelpettis.bsky.social · 4w ago4/4 In fact, to the extent that the resulting net inflows strengthen the dollar, it might actually further undermine manufacturing in the US. The administration should be focused on building industry at home, and not on boosting the foreign profits of American companies.
If you don’t like deregulation, you’re not gonna like what’s buried in our trade agreements. www.amphoenixtrade.com/blog/cyclosp...
Cyclospora, The Deregulatory State, and Implications for USMCA — American Phoenix Trade
When DOGE started cutting food safety inspection, I stopped buying lettuce. That was in February of 2025. As time went on, I started to wonder if I’d overreacted - and then the cyclospora outbreak hap...
amphoenixtrade.com
Karl Bode@karlbode.com · 4w agoonly 2.5 more years of dim Americans realizing via diarrhea or death that regulators do important things and don't just exist to "stifle innovation" and bum you out
I do not find any of the "abundance" people to be serious policy thinkers you should actually listen to I think they mostly exist to dress up reheated deregulatory corporatocracy as something new to pre-empt meaningful, popular progressive reform
culture victory 🫡 (peterson listing tax cuts as the number one driver of debt would have been unthinkable a few years ago)
The hit piece on Acemoglu in The Economist will largely serve, against the seeming intent of the piece, to a downward updating of priors on the magazine, and the named sources it cites.
2/2 The fact that much of its growth is in fact highly capital intensive shows that in China, while labor is cheap, capital is even cheaper. While most analysts focus on the implicit labor subsidy, the implicit capital subsidy may be even greater, at least in preferred sectors.
Perhaps most importantly the piece underscores the drag on growth experienced by many emerging markets from the excess supply and lack of demand China provides to the global economy. Many in Europe and beyond would agree. 6/6 www.economist.com/by-invitatio...
The yuan is more than a symptom of global imbalances
Treating it as a mere by-product of deeper distortions lets China off too easily, argue Anantha Nageswaran and P.S. Srinivas
economist.com
Here is a basic smell test. If the Netherlands and Denmark - Germany’s neighbours - can keep pace with US growth, are EU regulations really to blame for Germany’s stagnation? The red tape Berlin needs to cut, and the deregulation it needs to pursue, are primarily at home—not in Brussels. 1/
Sander Tordoir@sandertordoir.bsky.social · 2mo agoWord is spreading that pockets of the European economy are blossoming. Croatia, Netherlands, Poland, Spain, Greece are also growing at a brisk pace. Those countries are in the EU single market - casting doubt on a German narrative that EU regulation is to blame for its woes.
The United States pushed export-led growth because we were going to become a services economy and manufacturing didn’t matter. Then the chickens came home to roost.
Michael Pettis@michaelpettis.bsky.social · 2mo ago1/3 Korea Times: "The South Korean surplus totaled $49.73 billion in June, up from the previous record of $38.61 billion in May." These are incredibly large surpluses. This is why I have long argued that the problem isn't China. www.koreatimes.co.kr/economy/2026...
Austerity contributed to the demise of the Weimar Republic. This doesn’t seem to be well understood in Germany, of all places.
Isabella M. Weber@isabellamweber.bsky.social · 2mo agoThe SPD needs to urgently relearn anti-fascist economics. The only hope for Germany to get a progressive government again at a time when the extreme right is #1 in the national polls is a coalition of the Left, the Social Democrats and the Greens (red-red-green). 🧵
this sounds politically boring but it is just standard New Deal thought and it was the benchmark for rational (mainstream) political economy until the Reagan era rebooted the previously-failed project of laissez faire (and subsequent Dems acquiesced to it)
laura olin@lauraolin.bsky.social · 2mo agoAbdul El-Sayed on capitalism: “I’m capitalist who just knows about capitalism. I have a bad habit of reading, I’m so sorry.”
"Economists regard free trade as kind of the only religion they have." www.youtube.com/shorts/rV7gB...
Economist Questions The “Religion” Of Economics | Capitalisn't #Economics #FreeTrade #TradePolicy
YouTube video by Capitalisn't
youtube.com
(2/2) The bottom 50% claim a mere 1% of profits while they are hit the hardest by the cost shock. And that’s just the domestic economy. People in the Global South have been priced out of energy needs for months.
The evidence from the US, where over more than a decade some states have raised the minimum wage while others have not, is clear. - Statutory MW hikes are effective in raising the wages of the low paid. - No substantial job losses. - Adjustment via higher productivity, prices &/or lower profits
Arin Dube@arindube.bsky.social · 4mo agoWe've been running an unprecedented natural experiment running for a decade and half. 30 states have raised their minimum wages. 20 have not. What happened to pay? What happened to jobs? The good news is that it's pretty easy to figure out now. substack.com/home/post/p-...