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Noah Smith 🐇
@Noahpinion
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The new Green New Deal FAQ continues to cite MMT - i.e., deficits - as the method of financing for its vastly expensive economic programs.

It also adds a bit of supply-side economics, claiming new spending will "vastly increase" tax revenue.

newconsensus.com/green-new-deal/
On the plus side, the reference to expansive new entitlements - including economic security for people "unwilling to work" - have been removed.

The new FAQ focuses on:
A) industrial policy to mitigate climate change, and
B) economic policies to ensure a "just transition".
Unfortunately, the new FAQ does not make any reference to research, technology, or international climate assistance/incentives, which would be the highest-impact parts of any successful climate policy.
This FAQ is also much more vague than the one that got circulated and then repudiated before. In fact, it's much more vague even than the Green New Deal resolution itself!
In other words, despite an improvement in focus, this new FAQ still leaves out the most important pieces (technology, international) and still contains the most worrying piece (MMT), with some dubious supply-side-ism thrown in.

I'm still opposed.

(end)

newconsensus.com/green-new-deal/
Oh, also, the Green New Deal also has longer, 14-page explainer somewhat similar to the resolution itself.

It claims that the GND will "very probably not" require new taxes OR high federal debt.

The word "research" does not appear once.

s3.us-east-2.amazonaws.com/ncsite/new_con…
Looks like the Green New Deal is moving from MMT toward straight-up Lafferism. Claiming GND programs will create enough economic activity to pay for themselves through higher tax revenue.

And they're no longer even making cursory gestures toward the importance of technology.
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Noah Smith 🐇
@Noahpinion
An essay by @DKThomp on the culture of work among elite Americans.

Are educated, high-earning Americans expecting too much meaning and fulfillment from their careers?

theatlantic.com/ideas/archive/…
Every time I meet a top data scientist or engineer who engages in extremist shitposting from a pseudonymous Twitter account, I wonder whether they're really just pissed that their glamorous tech job turned out to be "figuring out ways to sell more ads"...
Here's a post I wrote about the misuse of top talent in America: bloomberg.com/opinion/articl…
Read 4 tweets
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Noah Smith 🐇
@Noahpinion
Interesting thread. But it's important to convert to purchasing power parity, since most of this is just exchange rate movements.

Iraq GDP per capita in 2002: ~$12,000

In 2017: ~$15,600

That's about a 30% gain in 15 years.

For the U.S., the gain over that period was 57%.
Now, those figures aren't inflation-adjusted.

If we look at inflation-adjusted growth from 2002-2017, Iraq actually grew by about 43% total.

That's about a 2.4% annualized real per capita growth rate.
In other words, the idea that Iraq is much richer now than before the U.S. invasion, or has grown at a rapid pace in the last few years, is just not true.

There has been modest progress. I'd expect as much just from the lifting of U.S. sanctions!
Read 4 tweets
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Noah Smith 🐇
@Noahpinion
86% of Republicans say that accepting people of diverse racial and religious backgrounds is an important part of being "truly American".

(source: prri.org/research/ameri…)
Americans tend to think that workplaces, the military, and universities are unifying institutions, while the media is a divisive institution.
(subject to the expected partisan differences, of course.)
Read 7 tweets

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Citizens' Media TV 🦉🌹
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1/ Ever since 1796, when the first dollar was created, every single dollar of spending by the US federal gov't has been with created currency. This logically extends to, "Taxes cannot pay for federal spending." Below is confirmation from economists, experts, and those in power.
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@Jim_Jordan Any #Trump sycophant, alleged pedophile protector, trying to besmirch this hero, while his own children will have to suffer from the decisions made for the country, is sad. Why wouldn't the #GOP make it an open door session if they had nothing to hide? Your reign ends soon.
@Jim_Jordan As time passes, more comes to light, with the Steele dossier, Trumps alleged involvement in Epstein child sex ring where Secretary Acosta stopped the FBI investigation before more suspects could be arrested, and money laundering campaign contributions from Russian operatives.
@Jim_Jordan Plus your support for a theocratic monarchy that really acts like a ruthless inhumane dictator & desire to sell American technology to them when it could then be used to kill our own troops or handed over to Russia is genuinely INSANE. Who is dishonorable, spineless sycophantic?
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1. I'm sorry... but we are at a critical point where we can no longer tolerate folks willfully ignoring the economics any longer. Stakes are just too damn high.
This Green New Deal we all want? It is LITERALLY only possible with MMT. Period. #PAYGO is a self inflicted gun shot
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Lawrence Glickman
@LarryGlickman
Here’s a thread on my History of US Capitalism graduate seminar, prompted by the response, both critical and positive, to my tweet last week, which showed some of the books that we will be reading. (Warning: this is a long thread.) 1/
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Larry Schweikart
@LarrySchweikart
Someone suggested the ongoing Cankles analysis of "What Happened" should have a "Star Wars" crawler, so,

"WHAT HAPPENED" Episode Five: More Crap

It was a great time for the Rebellion. Luke Trump had vanquished the Evil Cankles, Shreklette, & their minions to Planet Chappaqua.
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CHARLIE DON'T SURF
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That's not a small question. There are so many moving parts to consider.

I understand the clinical trial analogy, but the key concept is “controlled.” Violence is a cultural issue that doesn’t have one cause or depend upon only one variable. /1
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Reasonable minds can differ. /2
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