Relearning Economics
@relearningecon.bsky.social
A system dynamicist specializing it's application for Macroeconomic Forecasting. I am the Chief Research Officer at Modern Macro Technologies
https://www.relearningeconomics.com
https://www.relearningeconomics.com
Pinned
"The worker has become a commodity, and it is a bit of luck for him if he can find a buyer, And the demand on which the life of the worker depends, depends on the whim of the rich and the capitalists."
-Karl Marx
-Karl Marx
Adam Smith's concept of invisible hands working behind the scenes is, in the case of China, replaced by the thousand arm Buddha's extended and very visible hands"
-Keyu Jin
The New China Playbook: Beyond Socialism & Capitalism (2023)
-Keyu Jin
The New China Playbook: Beyond Socialism & Capitalism (2023)
November 20, 2025 at 9:33 AM
Adam Smith's concept of invisible hands working behind the scenes is, in the case of China, replaced by the thousand arm Buddha's extended and very visible hands"
-Keyu Jin
The New China Playbook: Beyond Socialism & Capitalism (2023)
-Keyu Jin
The New China Playbook: Beyond Socialism & Capitalism (2023)
"Everything reminds Milton Friedman of the money supply. Everything reminds me of sex, but I try to keep it out of my papers."
-Robert Solow
AEA Panel Discussion (1966)
-Robert Solow
AEA Panel Discussion (1966)
November 19, 2025 at 1:34 AM
"Everything reminds Milton Friedman of the money supply. Everything reminds me of sex, but I try to keep it out of my papers."
-Robert Solow
AEA Panel Discussion (1966)
-Robert Solow
AEA Panel Discussion (1966)
You'd think the field that studies money would have a solid grasp of how it works.
But mainstream economics still teaches that banks are intermediaries, loans come from savings, and governments can run out of money.
None of that sh#t holds up.
🧵1/12
But mainstream economics still teaches that banks are intermediaries, loans come from savings, and governments can run out of money.
None of that sh#t holds up.
🧵1/12
November 15, 2025 at 8:00 AM
You'd think the field that studies money would have a solid grasp of how it works.
But mainstream economics still teaches that banks are intermediaries, loans come from savings, and governments can run out of money.
None of that sh#t holds up.
🧵1/12
But mainstream economics still teaches that banks are intermediaries, loans come from savings, and governments can run out of money.
None of that sh#t holds up.
🧵1/12
Reposted by Relearning Economics
September 22, 2025 at 1:41 AM
Teaching undergrads rational expectations should count as academic malpractice.
Modeling with it is like designing a unicorn and then asking why real horses don’t have horns.
Might as well just start with the horse.
Modeling with it is like designing a unicorn and then asking why real horses don’t have horns.
Might as well just start with the horse.
September 21, 2025 at 3:33 AM
Teaching undergrads rational expectations should count as academic malpractice.
Modeling with it is like designing a unicorn and then asking why real horses don’t have horns.
Might as well just start with the horse.
Modeling with it is like designing a unicorn and then asking why real horses don’t have horns.
Might as well just start with the horse.
Mainstream macro blames crises on public debt or bad policy.
History tells a different story, The biggest crashes follow private debt booms , when households & firms load up on credit faster than incomes grow.
🧵1/8
History tells a different story, The biggest crashes follow private debt booms , when households & firms load up on credit faster than incomes grow.
🧵1/8
August 12, 2025 at 5:09 AM
Mainstream macro blames crises on public debt or bad policy.
History tells a different story, The biggest crashes follow private debt booms , when households & firms load up on credit faster than incomes grow.
🧵1/8
History tells a different story, The biggest crashes follow private debt booms , when households & firms load up on credit faster than incomes grow.
🧵1/8
An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today."
-Lawrence J. Peter
-Lawrence J. Peter
July 2, 2025 at 5:17 AM
An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today."
-Lawrence J. Peter
-Lawrence J. Peter
''The great tragedy of the global economic malaise is that it is caused by a shortage of something that is essentially costless to produce: money.''
-Steve Keen
-Steve Keen
June 27, 2025 at 5:57 PM
''The great tragedy of the global economic malaise is that it is caused by a shortage of something that is essentially costless to produce: money.''
-Steve Keen
-Steve Keen
“Such a secondary depression caused by an induced deflation should of course be prevented by appropriate monetary counter-measures. Though I am sometimes accused of having represented the deflationary cause of the business cycles as part of the curative process"
-Friedrich Hayek
-Friedrich Hayek
June 27, 2025 at 5:48 AM
“Such a secondary depression caused by an induced deflation should of course be prevented by appropriate monetary counter-measures. Though I am sometimes accused of having represented the deflationary cause of the business cycles as part of the curative process"
-Friedrich Hayek
-Friedrich Hayek
I'll probably get cancelled for this...🤷
June 26, 2025 at 11:51 PM
I'll probably get cancelled for this...🤷
''Even a modest Basic Income program could become a stepping-stone toward the most profound transformation of all: to unlatch work from livelihood entirely.''
-David Graeber
-David Graeber
June 26, 2025 at 5:48 AM
''Even a modest Basic Income program could become a stepping-stone toward the most profound transformation of all: to unlatch work from livelihood entirely.''
-David Graeber
-David Graeber
The economy isn’t “alive and well” in equilibrium—no more than a heart is when it flatlines. 😉
Like any complex system, it orbits strange attractors (and repellers), never truly at rest.
Like any complex system, it orbits strange attractors (and repellers), never truly at rest.
a close up of a heartbeat on a black background .
ALT: a close up of a heartbeat on a black background .
media.tenor.com
June 26, 2025 at 2:59 AM
The economy isn’t “alive and well” in equilibrium—no more than a heart is when it flatlines. 😉
Like any complex system, it orbits strange attractors (and repellers), never truly at rest.
Like any complex system, it orbits strange attractors (and repellers), never truly at rest.
My dysfunctional relationship with economics that turned into a bizarre love story.😐 youtu.be/LktJHH9KDzc
The Surprising Reason I Love ECONOMICS!
YouTube video by Relearning Economics
youtu.be
June 25, 2025 at 9:09 PM
My dysfunctional relationship with economics that turned into a bizarre love story.😐 youtu.be/LktJHH9KDzc
"The decline of the West is not necessary or historically inevitable. It is the result of choosing policies dictated by its rentier interests."
-Michael Hudson
-Michael Hudson
June 25, 2025 at 3:01 PM
"The decline of the West is not necessary or historically inevitable. It is the result of choosing policies dictated by its rentier interests."
-Michael Hudson
-Michael Hudson
“Separate two of the most important issues regarding entitlements: the government’s financial ability to pay and our economy’s productive capacity to deliver promised real benefits.”
-Stephanie Kelton
-Stephanie Kelton
June 25, 2025 at 5:58 AM
“Separate two of the most important issues regarding entitlements: the government’s financial ability to pay and our economy’s productive capacity to deliver promised real benefits.”
-Stephanie Kelton
-Stephanie Kelton
"The myth that holds that the great corporation is the puppet of the market, the powerless servant of the consumer, is, in fact one of the devices by which its power is perpetuated."
-John Kenneth Galbraith
-John Kenneth Galbraith
June 24, 2025 at 4:19 PM
"The myth that holds that the great corporation is the puppet of the market, the powerless servant of the consumer, is, in fact one of the devices by which its power is perpetuated."
-John Kenneth Galbraith
-John Kenneth Galbraith
"Economics limps along with one foot in untested hypotheses and the other in untestable slogans."
-Joan Robinson
-Joan Robinson
June 24, 2025 at 6:14 AM
"Economics limps along with one foot in untested hypotheses and the other in untestable slogans."
-Joan Robinson
-Joan Robinson
People don't choose tyranny because they love oppression, they choose it because freedom becomes psychologically unbearable.
June 20, 2025 at 4:27 PM
People don't choose tyranny because they love oppression, they choose it because freedom becomes psychologically unbearable.
"One might even say that it's one of the scandals of capitalism that most capitalist firms, internally, operate communistically."
-David Graeber
-David Graeber
June 17, 2025 at 6:01 AM
"One might even say that it's one of the scandals of capitalism that most capitalist firms, internally, operate communistically."
-David Graeber
-David Graeber
Reposted by Relearning Economics
We’re going live June 30th!
Public talk on our youtube channel 'Michael Hudson in conversation with Steve Keen & Hannah Appel'
Subscribe to the event! (in the comment)
Public talk on our youtube channel 'Michael Hudson in conversation with Steve Keen & Hannah Appel'
Subscribe to the event! (in the comment)
June 15, 2025 at 1:56 PM
We’re going live June 30th!
Public talk on our youtube channel 'Michael Hudson in conversation with Steve Keen & Hannah Appel'
Subscribe to the event! (in the comment)
Public talk on our youtube channel 'Michael Hudson in conversation with Steve Keen & Hannah Appel'
Subscribe to the event! (in the comment)
"There are essentially two types of society: mixed economies with public checks and balances, and oligarchies that dismantle and privatize the state, taking over its monetary and credit system, the land and basic infrastructure."
-Michael Hudson
-Michael Hudson
June 13, 2025 at 3:54 PM
"There are essentially two types of society: mixed economies with public checks and balances, and oligarchies that dismantle and privatize the state, taking over its monetary and credit system, the land and basic infrastructure."
-Michael Hudson
-Michael Hudson
"In a sense the budget deficit can be considered as an artificial export surplus."
-Michał Kalecki
-Michał Kalecki
June 13, 2025 at 5:41 AM
"In a sense the budget deficit can be considered as an artificial export surplus."
-Michał Kalecki
-Michał Kalecki
Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist."
-Kenneth Boulding
-Kenneth Boulding
June 12, 2025 at 3:18 PM
Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist."
-Kenneth Boulding
-Kenneth Boulding
"There is one good thing about Marx: he was not a Keynesian."
-Murray Rothbard
(Gotta keep my Austrian peeps happy 😉)
-Murray Rothbard
(Gotta keep my Austrian peeps happy 😉)
June 12, 2025 at 6:09 AM
"There is one good thing about Marx: he was not a Keynesian."
-Murray Rothbard
(Gotta keep my Austrian peeps happy 😉)
-Murray Rothbard
(Gotta keep my Austrian peeps happy 😉)