JW Mason
@jwmason.bsky.social
Associate professor of economics, John Jay College-CUNY, senior fellow at the Groundwork Collaborative. Blog and other writing: jwmason.org. Study economics with me: https://johnjayeconomics.org. Anti-war Keynesian, liberal socialist, Brooklyn dad.
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JW Mason
@jwmason.bsky.social
· Sep 30
Against Money
A powerful deconstruction of humanity’s most influential invention, from the acclaimed economists J. W. Mason and Arjun Jayadev. Money is unavoidably fundamental to our daily lives. It lurks behind ...
press.uchicago.edu
Coming this spring. press.uchicago.edu/ucp/books/bo...
The thing about this, tho, is that Jon Steinsson has devoted his career to a style of macroeconomics that is based on a rational representative agent maximizing their utility over infinite future time based on correct beliefs about the probabilities of all future outcomes.
November 11, 2025 at 4:33 AM
The thing about this, tho, is that Jon Steinsson has devoted his career to a style of macroeconomics that is based on a rational representative agent maximizing their utility over infinite future time based on correct beliefs about the probabilities of all future outcomes.
I’ve been watching this retro sci fi series from a few years ago, Tales from the Loop. In a world full of televisual garbage, it is, well, another product of the Amazon garbage factory. Still it feels at least a little bit different, like some humanity somehow snuck into it.
November 11, 2025 at 4:02 AM
I’ve been watching this retro sci fi series from a few years ago, Tales from the Loop. In a world full of televisual garbage, it is, well, another product of the Amazon garbage factory. Still it feels at least a little bit different, like some humanity somehow snuck into it.
Reposted by JW Mason
apropos of nothing, here’s a photo of a young chuck schumer attending trump lawyer & confidante (& joe mccarthy associate) roy cohn’s birthday party at studio 54, in 1979
November 9, 2025 at 10:43 PM
apropos of nothing, here’s a photo of a young chuck schumer attending trump lawyer & confidante (& joe mccarthy associate) roy cohn’s birthday party at studio 54, in 1979
Reposted by JW Mason
Insightful thoughts here on why capital owners may oppose decarbonization.
It's like opposition to unions: it's not about wages necessarily but about who has the power in the workplace
It's like opposition to unions: it's not about wages necessarily but about who has the power in the workplace
The problem from their point of view is that rapid decarbonization requires public, collective decisions about the organization of production, in a way that threaten capital-owners' authority over both the production process and the political system.
November 10, 2025 at 5:24 PM
Insightful thoughts here on why capital owners may oppose decarbonization.
It's like opposition to unions: it's not about wages necessarily but about who has the power in the workplace
It's like opposition to unions: it's not about wages necessarily but about who has the power in the workplace
Good news, from where I'm sitting. Among other things, Fuleihan played a big role in getting universal pre-kindergarten pushed through quickly, against a conventional wisdom that it would take years.
Mayor-elect Zohran Mamdani picks Bill de Blasio veteran for top deputy https://gothamist.com/news/mayor-elect-zohran-mamdani-picks-bill-de-blasio-veteran-for-top-deputy
Mayor-elect Zohran Mamdani picks Bill de Blasio veteran for top deputy
Mayor-elect Zohran Mamdani speaks at a press conference at the Unisphere in Queens on Nov. 5, 2025.
He named Dean Fuleihan as first deputy and Elle Bisgaard-Church as chief of staff. [ more › ]
gothamist.com
November 10, 2025 at 5:24 PM
Good news, from where I'm sitting. Among other things, Fuleihan played a big role in getting universal pre-kindergarten pushed through quickly, against a conventional wisdom that it would take years.
Reposted by JW Mason
A wonderful paper for non-economists (and economists):"..under the neoliberal macroeconomic model, wage bargaining is decentralised, and limiting economic growth is the main tool for managing distributional conflicts"
I made a first stab at this argument here: eu.boell.org/en/climate-p...
Climate Policy from a Keynesian Point of View | Heinrich Böll Stiftung | Brussels office - European Union
People may arrive in one or the other of these camps for many reasons. Advocates of the investment-centred approach tend to link climate policy to broader concerns over economic justice. Developments ...
eu.boell.org
November 10, 2025 at 5:13 PM
A wonderful paper for non-economists (and economists):"..under the neoliberal macroeconomic model, wage bargaining is decentralised, and limiting economic growth is the main tool for managing distributional conflicts"
Reposted by JW Mason
The key *economic* fact about renewables is the very high proportion of fixed costs. This means that 1) financing conditions are decisive for returns; and 2) marginal-cost pricing doesn't work.
Renewables are an extreme case of this, but hardly unique - railroads are the classic case.
Renewables are an extreme case of this, but hardly unique - railroads are the classic case.
November 10, 2025 at 4:48 PM
The key *economic* fact about renewables is the very high proportion of fixed costs. This means that 1) financing conditions are decisive for returns; and 2) marginal-cost pricing doesn't work.
Renewables are an extreme case of this, but hardly unique - railroads are the classic case.
Renewables are an extreme case of this, but hardly unique - railroads are the classic case.
Reposted by JW Mason
Yup. A rapid shift to solar/wind is unquestionably the right decision both as a matter of national interest and economic prosperity, including among the rich. Heck, it's essential for the proposed AI economy.
They oppose it nonetheless because they fear disruption to their political/social control.
They oppose it nonetheless because they fear disruption to their political/social control.
I should write the argument up properly somewhere, but I think this is fundamentally wrong. A decisive fraction of the capitalist class does oppose addressing the climate crisis, but *not* because it would be bad for profits. If anything, a green New Deal type program would raise aggregate profits.
Yes, this is correct. And the reason is because our capitalist classes have decided that it is not sufficiently profitable, so they're not going to do it.
We must understand this reality. Capital *cannot* be relied upon to address the climate crisis.
We must understand this reality. Capital *cannot* be relied upon to address the climate crisis.
November 10, 2025 at 4:58 PM
Yup. A rapid shift to solar/wind is unquestionably the right decision both as a matter of national interest and economic prosperity, including among the rich. Heck, it's essential for the proposed AI economy.
They oppose it nonetheless because they fear disruption to their political/social control.
They oppose it nonetheless because they fear disruption to their political/social control.
Reposted by JW Mason
It's the definition of capitalism! (good ole Kalecki). If you are a class defined by control of the means of production then production is a nice to have, but control is a got to have.
November 10, 2025 at 4:46 PM
It's the definition of capitalism! (good ole Kalecki). If you are a class defined by control of the means of production then production is a nice to have, but control is a got to have.
Reposted by JW Mason
@jwmason.bsky.social as Green New Kalecki.
(i think he’s right. @schwarz.bsky.social’s “iron law of institutions” applies to particular capitalists and the economy at large. they’d accept economic collapse and catastrophe if that’s what preserves their own capacity to control.)
(i think he’s right. @schwarz.bsky.social’s “iron law of institutions” applies to particular capitalists and the economy at large. they’d accept economic collapse and catastrophe if that’s what preserves their own capacity to control.)
The problem from their point of view is that rapid decarbonization requires public, collective decisions about the organization of production, in a way that threaten capital-owners' authority over both the production process and the political system.
November 10, 2025 at 4:36 PM
@jwmason.bsky.social as Green New Kalecki.
(i think he’s right. @schwarz.bsky.social’s “iron law of institutions” applies to particular capitalists and the economy at large. they’d accept economic collapse and catastrophe if that’s what preserves their own capacity to control.)
(i think he’s right. @schwarz.bsky.social’s “iron law of institutions” applies to particular capitalists and the economy at large. they’d accept economic collapse and catastrophe if that’s what preserves their own capacity to control.)
Reposted by JW Mason
I think this touches a deep, often-overlooked point. In my labour law days, I saw some employers spend MORE money fighting unionization than they would have paid accepting it. Loss of control was driving them at least as much as profits! Control is vital – with environmental policy as well.
I should write the argument up properly somewhere, but I think this is fundamentally wrong. A decisive fraction of the capitalist class does oppose addressing the climate crisis, but *not* because it would be bad for profits. If anything, a green New Deal type program would raise aggregate profits.
Yes, this is correct. And the reason is because our capitalist classes have decided that it is not sufficiently profitable, so they're not going to do it.
We must understand this reality. Capital *cannot* be relied upon to address the climate crisis.
We must understand this reality. Capital *cannot* be relied upon to address the climate crisis.
November 10, 2025 at 4:37 PM
I think this touches a deep, often-overlooked point. In my labour law days, I saw some employers spend MORE money fighting unionization than they would have paid accepting it. Loss of control was driving them at least as much as profits! Control is vital – with environmental policy as well.
Reposted by JW Mason
On the collapse of COP30 and general climate inaction. I think this is correct and important: there are plenty of profits available in a full-scale green transition. But it won't happen without public orchestration and *that* is what threatens holders of capital.
The problem from their point of view is that rapid decarbonization requires public, collective decisions about the organization of production, in a way that threaten capital-owners' authority over both the production process and the political system.
November 10, 2025 at 4:40 PM
On the collapse of COP30 and general climate inaction. I think this is correct and important: there are plenty of profits available in a full-scale green transition. But it won't happen without public orchestration and *that* is what threatens holders of capital.
Reposted by JW Mason
I mean it's a rather convincing explanation in a world where renewables development is in fact extremely profitable.
November 10, 2025 at 4:43 PM
I mean it's a rather convincing explanation in a world where renewables development is in fact extremely profitable.
I should write the argument up properly somewhere, but I think this is fundamentally wrong. A decisive fraction of the capitalist class does oppose addressing the climate crisis, but *not* because it would be bad for profits. If anything, a green New Deal type program would raise aggregate profits.
Yes, this is correct. And the reason is because our capitalist classes have decided that it is not sufficiently profitable, so they're not going to do it.
We must understand this reality. Capital *cannot* be relied upon to address the climate crisis.
We must understand this reality. Capital *cannot* be relied upon to address the climate crisis.
November 10, 2025 at 4:18 PM
I should write the argument up properly somewhere, but I think this is fundamentally wrong. A decisive fraction of the capitalist class does oppose addressing the climate crisis, but *not* because it would be bad for profits. If anything, a green New Deal type program would raise aggregate profits.
Put that on your bumper sticker.
November 10, 2025 at 2:02 AM
Put that on your bumper sticker.
It's a pity that there was no way predict that Thanksgiving was coming. But sometimes it's these kind of unforeseeable contingencies that matter for politics.
My read of it (with very incomplete information) is scoring more political points would have required destroying Thanksgiving travel and at least 10 Dem Senators don’t have the stomach for that.
November 10, 2025 at 1:53 AM
It's a pity that there was no way predict that Thanksgiving was coming. But sometimes it's these kind of unforeseeable contingencies that matter for politics.
Reposted by JW Mason
Reposted by JW Mason
Our producer Sasha Cohen is joined by @jwmason.bsky.social following up on the youth-driven Mamdani victory for Mayor of NYC and his recent article at @dissentmag.bsky.social, “What Can Zohran Accomplish?” soundcloud.com/user-8304426...
A Followup on Mamdani's Victory on How He Will Deal With the Affordability Crisis
Background Briefing goes far beyond the headlines and deep under the radar to bring forward truths unheard elsewhere in American media. Background Briefing features international and national news, ex
soundcloud.com
November 9, 2025 at 11:15 PM
Our producer Sasha Cohen is joined by @jwmason.bsky.social following up on the youth-driven Mamdani victory for Mayor of NYC and his recent article at @dissentmag.bsky.social, “What Can Zohran Accomplish?” soundcloud.com/user-8304426...
Reposted by JW Mason
Now at backgroundbriefing.org | @jeffwise.bsky.social - An Assessment of Air Safety as Air Travel Melts Down | @dgraham.bsky.social - Trump Announces His Plan to Rig Elections | @jwmason.bsky.social - A Followup on Mamdani's Victory and How He Will Deal With the Affordability Crisis
November 9, 2025 at 11:14 PM
Now at backgroundbriefing.org | @jeffwise.bsky.social - An Assessment of Air Safety as Air Travel Melts Down | @dgraham.bsky.social - Trump Announces His Plan to Rig Elections | @jwmason.bsky.social - A Followup on Mamdani's Victory and How He Will Deal With the Affordability Crisis
It’s not really a good analogy for lots of reasons. But the shutdown in some ways reminds me of the Aventine Parliament.
November 8, 2025 at 11:46 PM
It’s not really a good analogy for lots of reasons. But the shutdown in some ways reminds me of the Aventine Parliament.
Seems like it might be time for the leading socialist journal of the English-speaking world to run another long interview with Ross Douthat about the condition of America.
November 7, 2025 at 3:04 PM
Seems like it might be time for the leading socialist journal of the English-speaking world to run another long interview with Ross Douthat about the condition of America.
Another NYC housing map, this one a reminder that over the past 25 years much more of the city has been downzoned than upzoned. www.osc.ny.gov/files/report...
November 6, 2025 at 4:13 AM
Another NYC housing map, this one a reminder that over the past 25 years much more of the city has been downzoned than upzoned. www.osc.ny.gov/files/report...
Reposted by JW Mason
why is this mayoral election different than all other mayoral elections?
in all other mayoral elections, we get to see andrew cuomo lose but once. but in this mayoral elections, we get to see him lose *twice*.
in all other mayoral elections, we get to see andrew cuomo lose but once. but in this mayoral elections, we get to see him lose *twice*.
July 14, 2025 at 10:16 PM
why is this mayoral election different than all other mayoral elections?
in all other mayoral elections, we get to see andrew cuomo lose but once. but in this mayoral elections, we get to see him lose *twice*.
in all other mayoral elections, we get to see andrew cuomo lose but once. but in this mayoral elections, we get to see him lose *twice*.
Here’s a map of the vote on the housing proposals, districts voting Yes in green. (For proposal 2, but 3 and 4 are the same.) What’s noteworthy about it is this: It’s almost identical to a map of districts voting for Mamdani.
November 6, 2025 at 2:15 AM
Here’s a map of the vote on the housing proposals, districts voting Yes in green. (For proposal 2, but 3 and 4 are the same.) What’s noteworthy about it is this: It’s almost identical to a map of districts voting for Mamdani.
Just recorded two separate interviews for KPFA on the Zohran victory. If you're in the Bay Area and up early, you can hear me at 5am on Background Briefing and then again at 7am on UpFront.
November 5, 2025 at 9:39 PM
Just recorded two separate interviews for KPFA on the Zohran victory. If you're in the Bay Area and up early, you can hear me at 5am on Background Briefing and then again at 7am on UpFront.