Onur Özgöde, Discover and Read the Best of Twitter Threads by @ummodern

Onur Özgöde

ummodern

In the middle of a depression in 1920, NY Fed and a few other Reserve Banks raised interest rates. To us it looks like a policy error, because macroeconomic theory

During the Great Depression some looked at Macy’s sales, which were up, and claimed the depression was over. But Macy’s’ sales were up bc other retailers were gone. This paradox

We used to have a domain of expertise dedicated to maximizing production by eliminating bottlenecks. It's called total planning. You will say, but that was Soviets. No, the US also

Very sophisticated piece by @csissoko, but from a systemic risk perspective, both law and macroecon overlook the question of the dynamics of systemic interdependencies during emergencies. This is why risk

Why do we have an econ indicator such as GDP? Most assume GNP, GDP's predecessor, was invented to measure economic growth.My new paper, Institutionalism in Action, shows it was constructed

I hope this pandemic settles the “the two parties are the same” bs for good. Marxian frameworks that reduce the state to an instrument of capitalist rule fail to see