Today’s video is on Okun’s leaky bucket – a metaphor that is used to describe how we would think about a trade-off between transfer resources and the total number of resources. Such a metaphor for considering this trade-off is useful – but as Matt has noted in the past we should be very very cautious […]
I’ve just popped up a video where I am to explain what “capital” is, in terms of a factor of production in an economic sense, in under 10 minutes. The goal was to work out what capital is (and isn’t), to describe the difference between tangible and intangible capital, and to give a feeling for […]
This week Matt and me followed around a lawnmower man to figure out what productivity and unemployment are – and how we would think about measuring them. Feel free to give these videos a watch below 🙂
In this video I outline the structure for thinking about economic growth – and point out how much of society’s progress has been due to our knowledge, organisation, and specialisation due to scale rather than unsustainable resource use. Hope it is an issue I can go more deeply on soon.
I have just bumped into an interesting twitter thread where an MMT theorist justifies their job guarantee by pointing to the Soveit Union’s Parasite law. Being born in the old Soviet Union, and having talked to my parents about their experience with it, I thought it might be useful to share my views on the […]
The recent data from the Big Mac index indicated that, in New Zealand a Big Mac costs $6.60 NZD. However, in the United States it costs $5.71 USD. As Stuff.co.nz notes this implies an exchange rate of 1.16 in USD/NZD terms (a US dollar is worth 1.16 NZ dollars) if the price of the Big […]