In a new video, Jonathan Nitzan demolishes the neoclassical theory of prices. Here’s a summary and some consequences.

People tend to become more individualistic at the same time that hierarchy grows. What explains this paradox?

Here are 10 tips for making charts that pop.

How can we improve human welfare without consuming more energy?

The rise and fall of empires is written in the language of energy. Let’s have a look at this ‘energy book’ and see why America won’t be ‘great’ again.

I’ve always been baffled why ‘modern monetary theory’ is called a theory . I don’t mean this in a disparaging way. As far as theories of money go, I think modern monetary theory (MMT for short) is the correct one. But having a correct theory of money is a bit like having a correct theory of traffic lights. Traffic lights (like money) are a social convention.

Here are the 5 blogs that I read frequently.

A talk about how and why institutions grow with energy use.

I dissect how neoclassical economics treats (neglects) natural resources, and discuss ways to fix it.

The neoclassical theory of economic growth is an example of Murphy’s law: everything that could go wrong did go wrong.