Most recents (12)

Darren | Modern Money Educator & Analyst

@AusMMT

He has BLOCKED me but @profholden once asked for a “formal theory” of MMT. Well here it is.

https://twitter.com/SamHLevey/status/1433791554896998402

The model examines two claims of Modern Monetary Theory: 1) The government determines the price level through the prices it pays when it spends. 2) Deficient demand results when the government does not supply enough currency to meet private demand. #MMT 🏛️💸

The model builds a "monopoly money" framework where the government sets the "price of money" through its spending. While private actors recirculate government currency, they depend on the government as the monopoly supplier. #MonopolyMoney 💰📈

Read 11 tweets

Johanna Vogel

@johanna_vogel

Excellent talk by Simon Sharpe @INETOxford just now, pointing out how the #climate crisis challenges economic #orthodoxy in several ways. Spoiler 🔥"Economics as a discipline has forgotten what the scientific method is" (@camjhep pointing to #heterodox ideas in defense)🧵

https://twitter.com/INETOxford/status/1656623394681397253

💡The premise: To meet our #climate goals, we need to reduce emissions globally by about 8% per year by 2030, as compared to the 1,5% p.a. achieved so far - hence the title of his book #FiveTimesFaster

1⃣ An #economy going through the rapid and far-reaching systems #transition this requires (acc. to @IPCC_CH) cannot be analysed in terms of #equilibrium, a sitation in which "nobody has any immediate reason to change their actions" according to the Oxford Dictionary of Economics.

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Philipp Markolin, PhD

@PhilippMarkolin

Discussions about #FreeSpeech are misguided in the information age.

Even before our voices are drowned out by the noise on social media, or overwritten by information combatants, we lose our agency and decision autonomy to manipulative complex systems we don’t fully understand.

The whole point of the #enlightenment, the scientific revolution, our educational and #epistemic institutions was to empower individuals to find a way out of their self-imposed #immaturity, to take #agency over their lives and make informed decisions.

We need #epistemic clarity about reality, for without it, our agency will be blunted & our freedom a charade

It is public-interest education, journalism & science that truly make individuals in a #democratic society free, not the right to cast a vote or to elect a representative

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Malthus John 🇦🇶🏴‍☠️🇺🇳

@MalthusJohn

@GeorgeSelgin @lawrencehwhite1 @jp_koning In the context I gave, the answers to the 2 questions play a critical role: they define the market. Prof. White added another: #anonymous #bearer_instruments.

Forgery, issuing, loaning, & taxing have been concerns from the earliest days of State control. Laws have to adapt >

/1

@GeorgeSelgin @lawrencehwhite1 @jp_koning - to technology changes, which can radically alter the landscape of the #system.

Long before the specific formal appearance in the Literature¹ʻ², conflicts between open & closed markets were apparent & dealt with. The dilemma didn't go away, they relied on the difficulty >

/2

@GeorgeSelgin @lawrencehwhite1 @jp_koning - of producing & transporting the object of redemption: gold. This clearing was done in separate, closed markets between banks &/or #nationstates.

Removing that standard shifted the dilemma for them, but we're concerned w/the citizen markets of nations. Suffice it to say, >

/3

Read 11 tweets

Sergio

@RiderOnCrypto

Hoy haré un hilo sobre $EQ #Equilibrium un proyecto que todavía no ha desatado su potencial, ya que todavía huele a coche nuevo.

La recopilación y el contraste de información para hacer este hilo no ha sido fácil:

#AptoParaTodosLosPublicos

$DOT $EQ $MATIC $GENS $KSM
1/12

¿Qué es Equilibrium?

Equilibrium es un interesante proyecto de finanzas descentralizadas (DeFi) creado en la blockchain de EOS, con el objetivo de crear un sistema DeFi y DEX cross-chain de alta velocidad, bajo coste y de fácil acceso.

2/12

¿Qué es DeFi?

Los conocedores del ecosistema cripto ya saben que DeFi (decentralized finance), es el nicho de ruptura más importante del espacio.

3/12

Read 12 tweets

Equilibrium (We are hiring!)

@EquilibriumDeFi

1/ 🔥 #Equilibrium is a unified DeFi platform that enables lending, borrowing, staking, swapping, trading, and earning across multiple chains.

Built on Polkadot and has a DeFi #parachain on @KusamaNetwork called @GenshiroDeFi with higher risk control than existing primitives.

2/ 💪 Equilibrium is built for #DeFi native and made accessible to everyone. It is the most comprehensive cross-chain platform to bring mainstream finances’ best practices to major digital assets.

To be a part of #Equilibrium, visit: equilibrium.io/en/careers

3/ ✅ Its native token is EQ which will work on every chain bridged with @Polkadot with utilities of governance, staking, and payment exchange.

Read 8 tweets

CryptoZorrito 🦊💰🚀🌒 🇪🇸 🇬🇧

@CryptoZorrito

Crowdloan de #Acala $ACA y otras #crowdloans, ¿Merecen la pena?

-Pros
-Contras
-Mi estrategia
-Cómo entrar con +7% de bonus

Hilo 🧵🦊👇

La crowdloan de #acala cierra en exactamente 24 horas y he decidido hacer un hilo sobre los pros y los contras de participar en crowdloans de parachains.

En general, para los que os gusten las cosas sintetizadas, se podría decir que si eres un inversor a largo plazo, esta podría ser una gran oportunidad.
Si eres un trader, es posible que prefieras conservar el control de tus $Dot y vender justo antes de un posible mercado bajista

Read 21 tweets

Shemrez 夏玛尔 🇵🇰

@shemreznauman

#PakistanArmy #COAS Gen Bajwa: #NationalSecurity in the age of #globalization, #information & #connectivity has now become an all-encompassing notion. Surely it is not solely a function of the #ArmedForces anymore.
#IslamabadDialogue #IslamabadSecurityDialogue

#PakistanArmy #COAS Gen Bajwa: #NationalSecurity also includes providing a conducive environment in which aspirations of human #security, national #progress & #development could be realized.
#IslamabadDialogue #IslamabadSecurityDialogue

#PakistanArmy #COAS Gen Bajwa: #NationalSecurity has now become an all-encompassing notion, wherein besides various elements of national power, #global & #regional environments also play a profound role.
#IslamabadDialogue #IslamabadSecurityDialogue

Read 56 tweets

Rick Rieder

@RickRieder

While our February 18th monthly client call argument for rising #RealRates appeared prescient, we were surprised by the magnitude of last week’s #move and would expect a more benign evolution toward #equilibrium going forward.

Taking a stab at periodizing the past year: 1) in Feb/Mar 2020 the Covid crisis was priced into #markets, real #rates spiked higher, #inflation breakevens collapsed and #investors scrambled to raise #cash as the #SPX experienced its fastest 30% drawdown in history.

Then, 2) from Apr through Oct 2020 we witnessed the #market impact of monumental #monetary and #fiscal policy responses to the #crisis, as policymakers successfully sought to force #real rates down and restore #inflation expectations.

Read 10 tweets

Santa Fe Institute

@sfiscience

SFI President David Krakauer introduces our annual board of trustees symposium on New #Complexity #Economics - follow this thread for live coverage of talks by @EricBeinhocker @AKStanger @ole_b_peters @JacksonmMatt @cmoncap & W. Brian Arthur today...

"I think we have to be aware that we're not just discussing financial systems. We are discussing the future of the stability of the planet."

- David Krakauer
on #Complexity #Economics

"What is the #economy? I would argue that it doesn't exist in the physical world. It is a product of our #imagination. It is made out of #ideas. It does have an effect on the physical world. But the imagined order that we have is not succeeding."

- @EricBeinhocker

Read 38 tweets

Daniele Tavani

@danieletavani

John Maynard #Keynes was born on June 5, 1883, and died too early. Here's a few thoughts on why I keep circling back to him, & why his work forces 2 rethink the way we do & teach #economics, esp. #micro. I am sure this (partial) thread will upset someone: apologies in advance. 1/

#Keynes understood that #macroeconomics is about emergent properties: aggregate outcomes that don't make sense 2 the individuals populating the economy. The logic, e.g., of the #IncomeExpenditure model is that an economy can coordinate along any point on the 45-degree line.. 2/

and that, accordingly, we should expect economies to operate with slack. Then you have the #ParadoxofThrift and all that. He also talked about the #ParadoxofCosts when he discusses redistribution to lower income people who have higher propensity to consume... 3/

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