Socialism and Industry

Over the last year, I’ve been slowly re-reading notable intellectuals in the socialist canon and recording podcasts about them. My “Socialism Series” currently has 8 episodes spanning from François-Noël Babeuf to Moses Hess. In the podcast so far, I have covered only pre-Marx socialists (Marx is next) and tried to emphasize a few things about… Continue reading Socialism and Industry

The Inflation Question

Inflation is up and there is a debate about why this is. One explanation is that consumer demand increased a lot because people are using their pandemic transfer payments and pandemic savings to buy goods and services. Producers have responded to this demand in part by ramping up production, e.g. by adding 5.8 million jobs… Continue reading The Inflation Question

How To Compare Incomes Across Countries

Comparing incomes across countries poses certain difficulties: incomes are paid in different currencies, products have different prices, tax levels are different, and benefit levels are different. Many years ago, economists came up with a decent-enough way to cut through most of these problems: figure out the prices in local currency amounts for a given consumption… Continue reading How To Compare Incomes Across Countries