Ecological Macro, Pol Econ PhD. Global value chains for a just green transition, climate crisis, conflict inflation, the long night of the 500 years
A World in Flames
Joined December 2019
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Oriol Vallès Codina retweeted
Weapons spending (on Israeli weapons) is the worst job creator
Literally giving cash handouts to Americans creates more jobs
American job creation is no reason to continue arming Israeli war crimes — Americans would prefer tax cuts
CC @Brett_McGurk @AIPAC @DemMaj4Israel
Oriol Vallès Codina retweeted
Higher interest rates have no impact on energy prices and hence on inflation. We need to rethink monetary and fiscal policy and how to use them to target price stability. We also need to rethink energy and industrial policy to reach that target.
Euro area #inflation expected to be at 4.0% in October 2026, up from 3.8% in September 2026. Components: energy +20.8%, services +3.3%, food, alcohol & tobacco +1.6%, other goods +1.2% - flash estimate ec.europa.eu/eurostat/en/web…
ALT Euro area annual inflation - October 2026, %
Oriol Vallès Codina retweeted
With serenity, nonchalance and indifference we are marching toward a cataclysmic world war.
Oriol Vallès Codina retweeted
Hiç abartmıyorum, bu makale iktisat tarihinin ulaşabileceği zirveyi temsil ediyor. Makalede Pirenne tezi, 500 bin para sikkesinin coğrafi dolaşımı üzerinden test ediliyor. Makalenin en önemli bulgusu ise aşağıdaki iki görselde açıkça görülüyor: İslam fetihleri öncesi ve sonrası dönemde sikke akışlarının nasıl değiştiğini gösteren son derece etkileyici iki figür:
@johannesmboehm and Chaney combine data on half a million ancient coins with a model of trade and money to reconstruct trade and consumption from AD 325 to 950. The estimates show economic activity shifting away from the Mediterranean from the 6th century.
econometricsociety.org/publi…
Oriol Vallès Codina retweeted
Incredibly happy to see my job market paper "The unequal economic consequences of carbon pricing" out in this month's issue of the 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝗻 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗥𝗲𝘃𝗶𝗲𝘄.
I find that carbon pricing reduces emissions and spurs green innovation, but disproportionately burdens poorer households - not only through higher energy bills, but also through larger income losses.
Here is an earlier thread of the paper: nitter.gq/drkaenzig/status/14592…
The November 2026 issue of the American Economic Review (116, 11) is now available online. aeaweb.org/issues/867
Oriol Vallès Codina retweeted
The reason for the return of diplomacy between Europe and Russia is the change in the geopolitical and geoeconomic environment. With oil at over $100, and France on the brink of a debt crisis, Europe is politically and financially not able to maintain its support for Ukraine at the level needed for Ukraine to resist Russia's advance, let alone push back. At no point during the last five years did western European leaders have a strategy to secure Ukraine's victory. Nor did they have a strategy for peace. It is too early to say what yesterday's call between Støre, Stubb and Putin will accomplish, but we are now entering a different phase.
eurointelligence.com
Oriol Vallès Codina retweeted
I think economics is the only field that's been called "unscientific in the true sense of the word" by one of its Nobel laureates.
nobelprize.org/prizes/econom…
Oriol Vallès Codina retweeted
It would have been Anwar Shaikh's 81st birthday today. On this occasion, I am sharing his 1973 dissertation, which put him on the map in a way his passing cannot reverse. He discusses issues that remain prominent throughout his career - Marx, competition, empirics, and more.
"The greatest trick the Devil ever pulled was convincing the world he didn't exist"
The credibility revo allowed to pretend serious theoretical problems of neoclassical micro never existed by turning into mere applied statistics. Very similar reaction to the Cambridge debates
The fatal challenge to heterodox economics is that there isn't actually orthodox economics.
Just take a few recent Nobels: behavioral, information failure, institutions, bubbles, financial fragility, labor monopsony (sort of), Schumpeterian creative destruction, etc.
Not to mention RCTs which are emblematic of how much economic research is empirical and only lightly if at all structural.
The real difference is methods. Heterodox economics is an avowedly political project not a social scientific effort to better understand the world. And I have nothing against political projects just shouldn't confuse the two.
Oriol Vallès Codina retweeted
Good piece by Henry and Abe on the current form of the historical phenomenon that I call “blockade-phobia” in The Economic Weapon; a mindset that can quickly become general amidst general and unrestrained use of economic coercion. We urgently need global guardrails on it.
“The United States’ efforts to hamstring Chinese technology firms… led China to accelerate its technological development, which in turn spurred American fears of Chinese domination—a self-perpetuating spiral.”
From some of the original theorists of “weaponized interdependence”foreignaffairs.com/united-st…
Oriol Vallès Codina retweeted
when my students resort to such 'actually, economics is depoliticized science' arguments, I ask them to read a mainstream economist's view of his tribe.
The fatal challenge to heterodox economics is that there isn't actually orthodox economics.
Just take a few recent Nobels: behavioral, information failure, institutions, bubbles, financial fragility, labor monopsony (sort of), Schumpeterian creative destruction, etc.
Not to mention RCTs which are emblematic of how much economic research is empirical and only lightly if at all structural.
The real difference is methods. Heterodox economics is an avowedly political project not a social scientific effort to better understand the world. And I have nothing against political projects just shouldn't confuse the two.
Oriol Vallès Codina retweeted
ANWAR CHANGED MY LIFE...jacobin.com/2026/10/shaikh-o…
Oriol Vallès Codina retweeted
Gli stessi che vorrebbero mandare i giovani a fare la guerra, poi si scandalizzano per qualche vetrina in frantumi.
Oriol Vallès Codina retweeted
You are right. The name SFC is confusing. The goal of this approach is an integrated treatment of the real and the financial side of an economy. Accounting consistency is a tool for that. DSGE models are SFC but because of the supply-determined eq. lead to a de facto dichotomy.
Oriol Vallès Codina retweeted
Anwar Shaikh hat viel marxistische Ökonomie gemacht, sich aber nicht mehr als marxistischen Ökonom bezeichnet. Stattdessen hat er marxistische, keynesianische und postkeynesianische Beiträge zur "klassischen politischen Ökonomie" zusammengefügt, wie in diesem Beitrag von 1989.
Oriol Vallès Codina retweeted
I couldn't stop thinking about all the recent deaths so I've spent the last couple of hours writing. I am about 2/3rds done, should be out in the morning.
A certain small corner of the world won't want to miss this.
crisesnotes.com/#/portal/sig…
Oriol Vallès Codina retweeted
Anwar Shaikh war ein entschiedener Kritiker der Monopolkapitalismus- und imperfekter Wettbewerb-Theorien in der heterodoxen Ökonomie. Gleichzeitig hat er Marx' Analyse der Konzentration von großen Kapitalen ernst genommen - zum Beispiel in diesem Buchkapitel von 1983.
Oriol Vallès Codina retweeted
Nachgelesen: Perry Mehrling
1. Inherent Hierarchy of Money – taylorfrancis.com/chapters/e…
2. Payment vs Funding – taylorfrancis.com/chapters/e…
3. Re-imagining the Lender of Last Resort – bis.org/publications/paper-7…
4. Money View of International Lender of Last Resort – degruyterbrill.com/document/…
