Classical-Keynesian Institutionalist Political Economist @MonetaryBlog | @RealProgressUS | @utahvanguard https://xitter.cf/t.co/wsfrOnBvyy

Joined February 2020
David Fields retweeted
Lula of Brazil at a steelworkers union event in 1977.
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Macron tried to crackdown on the protests, but it backfired! Hundreds of thousands of people have turned out across France today to send a clear message that the people won’t be silenced by Macron’s regime. Neoliberalism is a failed ideology that has accomplished nothing except making the rich richer and tearing our world apart with imperialist wars all while emboldening neofascism.
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David Fields retweeted
ENORMISSIME À PARIS
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✊🏾 TODAY: Hundreds from around the country are gathering for the first-ever Minnesota Socialism Summit! From the 2020 George Floyd Rebellion against racism to the 2026 general strikes against ICE terror, Minnesota has been an epicenter of the class struggle. Today, we come together to discuss the limitations of ruling class politics and build towards an alternative — a world in which working class people, not the billionaires, have the power to create a future that prioritizes the needs and well being of our people and planet: socialism!
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Macron just banned all non-union protests and authorities in Lyon, Nice, and Toulon have imposed a total protest ban. These rulers know nothing about their own people. Telling the French they can’t protest will backfire spectacularly. Expect a massive turnout this weekend. Vive la revolution!
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David Fields retweeted
Why did BoJ keep rates at -0.1% when inflation was 4.3% in 2023 and hike when it was at the 2% target? -Offloaded bad loans through securitization and rising demand for loans at higher rates raise bank profits -Bankruptcies increase market concentration elgaronline.com/edcollchap/b…
🇯🇵 Japan's annual inflation rate rose to 2.1%, the highest since last year.
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David Fields retweeted
Jason, you are describing yourself. Why are you so shameless to blame others with your own faults.. You proposed unemployment to raise 6.5% for 2 years in order to reduce inflation down to 2%. Inflation fell to 2% without any increse in unemployment. Whose predictions failed?
MMT is a movement not an idea. None of them offer testable predictions. They speak in tautologies as if their ideas follow from first principles. In contrasted economics is increasingly empirical.
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This is bullshit. Hillary Clinton says the Republican party needs to transform so the government can serve the people. This is who Republicans are and it’s also who Democrats are, which is why things won’t get better after they win. Both parties serve capital and war, not people.
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#OtD 22 Oct 1905 30k workers in Chile rose up against poverty & price hikes. Police were overwhelmed so the rich formed a "white guard" to begin massacring workers. After 250 dead, the rebellion subsided but the workers' movement continued to grow stories.workingclasshistory.…
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David Fields retweeted
CIA document from 1952 outlines how they embarked on programme to promote right-wing Christian currents to clamp down on what was later called "liberation theology" in Latin America. "The present rather weak and uncoordinated efforts of religious groups to combat Communism should be vigorously reinforced," the CIA noted. "Tremendous advantages to the Western program would ensue if it were possible to persuade all religious groups to unite in a campaign attacking Communism because of the Godlessness inherent in the Marxist doctrine." It continued: "It is therefore vital, if covert activities are to be effective, that they are carefully concentrated where they can accomplish the most". At the time the CIA complained that "its assets as to personnel and covert mechanisms are not capable of covertly supporting many different and wide-spread activities" in Latin America. This soon changed - and support for ultra conservative Christian currents in Latin America continues to this day. One big victim of this operation has been Brazil, where conservative Evangelical and Pentecostal churches have been promoted relentlessly. They were, later, a key element of far-right president Jair Bolsonaro's base - and now his son. The CIA (and MI6) did exact same in West Asia using, in this case, ultra conservative Wahhabis and Salafis as a bulwark against secular nationalism, socialism and anti-imperialism. Nasser in Egypt was the biggest target of all after he nationalised the Suez Canal in 1956 and the resulting UK/France/Israel invasion failed.
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David Fields retweeted
This is the same argument raised by Colander, Holt and Rosser, that there is no mainstream and that the cutting edge of the profession is moving away from any established consensus. It is problematic for many reasons /1
The fatal challenge to heterodox economics is that there isn't actually orthodox economics. Just take a few recent Nobels: behavioral, information failure, institutions, bubbles, financial fragility, labor monopsony (sort of), Schumpeterian creative destruction, etc. Not to mention RCTs which are emblematic of how much economic research is empirical and only lightly if at all structural. The real difference is methods. Heterodox economics is an avowedly political project not a social scientific effort to better understand the world. And I have nothing against political projects just shouldn't confuse the two.
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David Fields retweeted
Brazilian children against fascist Flávio Bolsonaro.
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David Fields retweeted
Siamo tutti antifascisti.
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The Onion remains undefeated.
Macron’s empty speech did nothing to quell the uprising in France. After a record mobilization of 700,000 protesters the Yellow Vest movement has announced Act II of its revolution this Saturday, October 24th. Workers of the world, rise up. The time for revolution is now!
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David Fields retweeted
Indeed, people should read about it. I recommend Lampa’s entry in the New Palgrave. There were important reasons why the conventional wisdom was that Lange had the upper hand against Mises, suggesting something similar to what Isabella Weber is arguing now link.springer.com/rwe/10.105…
Replying to @iammteah
Nein, das ist es absolut nicht. Lesen Sie mal zur socialist calculation debate.
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Breaking: French student protesters are blocking the entrance to the Louvre museum in Paris in solidarity with the museum’s striking workers.
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THE FRENCH REVOLUTION 2.0… THE EMPIRE IS TREMBLING. THE PEOPLE ARE RISING.
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David Fields retweeted
This photo is a work of art.
Readers added context they thought people might want to know
This photo is a work of Artificial Intelligence. It was created by the Babylon Bee as part of a parody of the actual recent riots in Paris, France. babylonbee.com/news/palestini…
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David Fields retweeted
In Paris, thousands are protesting teacher shortages, and cuts to public services. The student-led movement has widened into broader anger over living costs and police repression. Al Jazeera’s Virginia Pietromarchi reports.
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Breaking: French Police have injured multiple protesters with stun grenades with one protester losing their hand. The state will always use violence against the people in order to protect capital & defend the failed status quo. Long live the revolution!
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