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://relearningeconomics.com
https://relearningeconomics.com
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 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
The vagueness is meant to make the reader think. These posts on Blue sky suck though because my account is shit small, but they pop on X.
June 24, 2025 at 6:37 AM
The vagueness is meant to make the reader think. These posts on Blue sky suck though because my account is shit small, but they pop on X.
"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
However the biggest innovation is the new PFP you have Robin...
June 22, 2025 at 11:40 PM
However the biggest innovation is the new PFP you have Robin...
"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
"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 😉)
Should I mention that most economists at the Mises Institute have beards.🤔
June 11, 2025 at 10:50 PM
Should I mention that most economists at the Mises Institute have beards.🤔
“In fact, there is not a single key technology behind the iPhone that has not been State-funded.”
-Mariana Mazzucato
-Mariana Mazzucato
June 11, 2025 at 2:19 PM
“In fact, there is not a single key technology behind the iPhone that has not been State-funded.”
-Mariana Mazzucato
-Mariana Mazzucato
"The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes."
-John Maynard Keynes
-John Maynard Keynes
June 11, 2025 at 5:47 AM
"The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes."
-John Maynard Keynes
-John Maynard Keynes
Got any ideas why this shift is taking place?
June 10, 2025 at 8:57 PM
Got any ideas why this shift is taking place?
"How can great minds be produced in a country where the test of a great mind is agreeing in the opinions of small minds?"
-John Stuart Mill
-John Stuart Mill
June 10, 2025 at 4:44 PM
"How can great minds be produced in a country where the test of a great mind is agreeing in the opinions of small minds?"
-John Stuart Mill
-John Stuart Mill
"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
June 10, 2025 at 6:01 AM
"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