Economics

ahead of Germany and Japan. Using PPP GDP measure.

a more detailed, but biased, article https://www.lewrockwell.com/2024/11/no_author/russian-economy-zooms-ahead-outpaces-us-and-eu-growth/

There is more likely to be a collapse on the west from supporting a Ukraine war. There is zero resonance of "NATO is a purely defensive alliance" propaganda meant to be a friend to the world or to Russia inside of Russia. It is fully understood as an existential threat in Russia, while it is a casual inconvenience to those who trust western media in the west. A deep concern for the world/west is that Russia's extreme growth in military production means that we will soon be asked to boost competing military production and compromise our own sustainability and leisure.

In article's first chart, it lists China as competitive this year in robotics and machine tools. It is far more appropriate to call it a global leader in these categories, as that is where all of the manufacturing customers are.

While Musk is referring to the magical $2T+ in budget cuts to US budget he will sail through magical congressional unanimity...

Hardship has to include the extreme difficulty in reindustrializing the US in an environment where labour is deported, and reciprocal tariffs means serving a local declining market where fewer people have money left over if they are overpaying for imported goods.

Recessions not only reduce tax revenue, they also are typically responded to by significant government investment to pull out of recession, and the US is nearly maxed out already.

Re-publishing this, because I rewrote the post a bit.

Target audience is people who like to talk about "negative externalities" and the need to "internalize" them.

Although at this point, it might make strategic sense to use the language of neoclassical economists to push for (e.g.) a carbon tax, we should recognize the fundamental flaws in the underlying world view.

https://mishathings.org/posts/internalize-this-environmental-economics/

#CarbonTax #EnvironmentalJustice #ClimateDiary @economics

Offshore wind output surged 37% year on year, hydropower generation grew 21%, solar was up 20%, and onshore wind 6%. On the other hand, coal-fired generation fell 7% and gas output dropped 24%

double digit declines in coal and NG use were also present every earlier month of this year. Europe has by far achieved the biggest emission reductions in the world this year. 16% point market share drop for fossil fuels electricity since just 2023.

This is the most comprehensive reporting on Chinese emissions released regularly. There is still an expectation/possibility that China's emissions will be lower than 2023, and then a near certainty that the peak will be 2023 or 2024.

Some notes:

China is only committed to peaking by 2030. Ministry doesn't view an early peak as a new goal.

7.8% electricity demand growth in Q3 was huge, and so slight emission increase from power sector. Oil (EVs and LNG truck success), Steel and Cement (construction downturn) emissions were down to make overall emissions flat.

A worrying national/energy security measure is China is expanding its ability to make oil and gas chemicals from coal instead.

Much better article than just the rise of central bank rates to 21%.

It's possible to read between the lines for how the oligarchs are complaining the economy is ruined, vs. high wages for ordinary people making ordinary people better off and happy.

This is a good expectation of what a UBI/Freedom dividends economy would look like when people have the freedom to say no to work offers because they have better options. Except that instead of tying up people into military defense of nation, they can be training for better opportunities than what is currently offered.

cross-posted from: https://pixelfed.crimedad.work/p/crimedad/755906400830131681

#Shrinkflation

Brought my daughter to a trunk-or-treat and got this so so fun sized pack of peanut M&M's. More of a trick than a treat really.

#Halloween #candy #TrickOrTreat

@[email protected]

Putting Jurisprudence Back into Economics

https://www.exploring-economics.org/en/discover/putting-jurisprudence-back-into-economics/

Economics as it has been defined in the 20th century has largely ignored questions of jurisprudence, property rights, contracts and legal structure of economic institutions. Bringing jurisprudence considerations back into economics leads to radically different conclusions

@economics

cross-posted from: https://lemmy.ml/post/21085333

I’ve known this for a while thanks to the Money & Macro YouTube channel: How Commercial Banks Really Create Money (the Money Multiplier is a MYTH)