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mark-russell.bsky.social
Retired school master, post-Keynesian economist, cricket coach.
42 posts 52 followers 75 following
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''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

submitted 45 days ago • 0 comments

My diagram shows how a tariff actually works (exporters could cut margins, but studies show it’s very rare). Exporters sell less but the pain is mainly on American citizens. So don’t place counter-tariffs, just say ‘your loss’ and start buying the goods of the countries Trump is trying to bully.

submitted 27 days ago • 0 comments

Trump keeps threatening tariffs. He’s either too stupid to understand how they work or thinks he can fool Americans into believing the exporters pay, not the importers. The best response is not to put on counter-tariffs, then our consumers pay. Then buy more Canadian and less US goods. #trumptariffs

submitted 30 days ago • 0 comments

A lot of people claiming the move to renewables will raise domestic energy costs. The data simply does not support that.

submitted 54 days ago • 0 comments

Jimmy Carter is a model for how politics should be practiced. It’s about caring for people, working in their best interests, not protecting and enriching vested interests. Perhaps his death will lead to a widespread exposure to his example. #jimmycarter

submitted 55 days ago • 0 comments

www.oxfam.org/en/press-rel... This is so important and not given anything like the priority it deserves in politics. Governments hide behind economists who profess the economy is self-regulating and we must accept a ‘natural rate of unemployment’. It’s rubbish, we can choose a decent income for all

submitted 80 days ago • 0 comments

www.bloomberg.com/news/feature... The greatest failing of the economics profession is to convince the general public that trade isn’t a zero-sum game, but a win-win situation where both buyer and seller leave better off than before the trade. That’s why we have Brexit and Trump.

submitted 85 days ago • 0 comments

Just realised that it is 21 years ago today that this great moment occurred. #Rugby #England #2003RWC #JonnyWilkinson www.youtube.com/watch?v=0XmL...

submitted 93 days ago • 1 comment

I've said it before, and I'll say it again. Misinformation is a pandemic.

submitted 88 days ago • 598 comments