excellent Note by ISRF Director @cnewf.bsky.social on our Redesigning Finance for Climate Justice project, in preparation for workshop on Coercing Finance, where we explore the macrofinance/political economy of credit and sketch futures of socialised investment
isrf.org/blog/coercin...
In December, @publicenterprise.bsky.social submitted to the @houseseec.bsky.social Institute's Thriving Economy Project RFI.
Our submission is probably the best summary of what the CPE energy team has been working on these past two years.
publicenterprise.org/public-enter...
rice is life, and I got a thread to share about rice: Park Chung-hee's obsession to make South Korea rice self-sufficient in the 1970s changed everything about the country, including your favorite Korean foods and the urban environment 🧵
maybe the coolest thing this dipshit ever did in his life?
One of the most frequently recited pieces of "evidence" that public power won't work is the dysfunction of one of a number of existing public power utilities. I think this is not only pessimistic but misanthropic. It's a position of despair about whether or not we can collectively do good and
France has ended up in a strange position after using some €250bn of tax-payer money to build a fleet of nuclear power stations. Wind and solar power is merrily entering the French power market at prices nuclear production can't match, resulting in huge surpluses of power.
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New essay by @steffenmurau.bsky.social on Trump admin's misunderstanding of dollar hegemony—and four possible futures for the international monetary system. 1/
www.phenomenalworld.org/analysis/tru...
As someone who has spent quite a lot of time complaining about bad economics metaphors and analogies, I disagree with @gilesyb.bsky.social’s premise: we have to simplify and abstract to think about an economic system and metaphor is unavoidable when we do so.
New from @gruberte.bsky.social and I in @science.org: The energy transition is at risk, and energy models are missing the threat. Fossil energy networks from oil to coal to gas have minimum viable scales of operation, and those thresholds are closer than we think:
www.science.org/doi/epdf/10....
💡🔌
Interesting — Where could I learn more?
This piece is getting at something that I’ve been trying to articulate (not very successfully) in recent conversations when asked if China is the new long-awaited climate champion the world has been waiting for.
My answer is never a simple flat yes, for the reasons that Jeremy touches on here. 1/
The problem from their point of view is that rapid decarbonization requires public, collective decisions about the organization of production, in a way that threaten capital-owners' authority over both the production process and the political system.
okay so fun news, I am launching a macro newsletter from Common Wealth about the supply side data and the US economy called Forces of Production
Charts for bsky forthcoming at: @forcesofproduction.com
Launch essay below:
www.forcesofproduction.com/p/atop-the-f...
still my heart - REPO IS VERY SYSTEMIC piece @alphaville.ft.com
1. We still have no granular data, a full 17 years since run on repo blew up Lehman into a global financial crisis. The OFR now has data on US repo, but European repo is also USD 12 trillion (roughly)
www.ft.com/content/220d...
I personally think 2 is the wrong answer. But this is certainly the right question to be asking.
Interesting to compare how someone like DeLong evaluates resources spent on bubble-fueled private investment versus those spent on, say, public-school salaries. When do we insist on a rigorous cost-benefit analysis? and when do we say say, it's all fine, something useful will probably come of it?
Thanks!
Where’s this from?
Any chance the event will be recorded, for those of us who can’t make it?
NEW (and I would say groundbreaking) paper from
@gdp-center.bsky.social colleagues mapping the global landscape of climate-related industrial policies.
It finds green industrial policy is increasing fast, is dominated by the Global North + China, and the policy mix differs across countries
I'm curious about whether this arbitrage is extending the "insurability" of areas that would otherwise be uninsurable due to increased risk from climate change etc. A convoluted kind of positive externality from finance? 🤔
Deutsche is Going There, noting the lack of a big USD rally on the latest tariffs shock
This is why the Chibber et al. anti-woke/anti-PMC stuff is not just politically foolish but irremidiably wrong-headed. They read the result of a management-labour conflict in the tech sector as if it were an organic outgrowth of the universities where *they* work, and the bosses' position...
Thanks for the thread, Mark. Where are the slides from, if you don’t mind?
Thanks so much, Guntram. I'm glad you found the piece helpful.
I’d caution against cases where we back a single company, and, if that fails, draw the conclusion that industrial policy as a whole doesn’t work.
I'm afraid the issue requires more contemplation. So a thread on your question.
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A whole lot of things worth reading in Adam Hanieh’s new book, but this point near the end — that fossil capital’s power is a manifestation of underlying dynamics of capital accumulation rather than a cause in itself of failures to end fossil fuels — seems pretty vital to me.
