UnitOfTheAbsolute

Shin’in Güney Kore Merkez Bankası'nda göreve başlama konuşmasındaki şu vurgu önemli: Finansal istikrara artık yeni bir mercekle bakmalıyız. Banka–banka olmayan, yerel–küresel ayrımları bulanıklaşıyor; riskleri daha iyi görmek için banka dışı sektör, bilanço dışı işlemler ve yeni finansal ürünler analize dahil edilmeli. Küresel finansal piyasalarda banka dışı finansal kuruluşların rolü gitgide daha da artıyor. Bu meseleler küresel finansal sistemin bugününün ve geleceğinin en önemli meseleleri fakat çok az biliniyor, bizim buralarda ise neredeyse hiç konuşulmuyor. BIS ekibi Shin’in liderliğinde bir süredir bu konular üzerine çok fazla kafa yoruyordu, şimdi ise kendisi bu deneyimleri Kore'ye taşıyacak. Bize de benzer vizyonlar iyi olurdu.

New episode alert: Carbon Politics Episode 11 drops on April 28! In this episode, CSE's @aygoswami speaks with @IliasAlami from the @Cambridge_Uni about the growing relevance of green industrialisation and how the Global South can advance this agenda to serve its own development goals. Save the date: April 28th | 4:00 PM IST To know more, visit: cseindia.org/green-industri… Watch previous episodes here: cseindia.org/page/carbon-po…

This piece in the @FT by Adam Hanieh is one of the best compact accounts I’ve read of the actual material implications of shutting off shipping through Hormuz. Well worth reading. giftarticle.ft.com/giftarticle/ac… The coming global food crisis

Excited to share our @AnnualReviews article, "The Politics of Climate Change in the Developing World," annualreviews.org/content/journa… with Guy Grossman and Audrey Sacks. It’s been amazing to watch this area of research grow so much in recent years. Let's keep it up!

All international orders depend on systematic ignorance production. That’s what I argue in my fresh-out-of-the-oven @IAJournal_CH article.

@AnnaLeptikon not quite what you're looking for, but the ssc review has some of that:

Why is ICE buying so many warehouses, and what does this have to do with the warehouse's historically shifting place in the US economy? In Places Journal, I chronicle the long arc of the warehouse's carceral geography from 1846 to present. placesjournal.org/article/the-wa…

@NicolasDVillar1 if you've got the time, Wight's book Oil Money is a great proper length history. I thought that Setser piece was good too. Haven't listened to this yet

Good history of the petro dollar and what's driving demand for dollars today.

Several central bankers, myself included, discussed decision‑making in today’s uncertain environment at @PIIE. I focused on a tool I find particularly useful: defining alternative scenarios. The challenge lies in designing them properly. 🧵👇

1/4 The IJIO Special Issue on Market Power and the Macroeconomy, jointly edited by @conlon_chris and yours truly, is out! For a limited time, it is available without paywall at the link below: sciencedirect.com/special-issue/…

RECOMMENDED READING on energy features the books and articles I have found most useful in my own research – broadly defined to include production, consumption, transportation, technology, trading, risk management, economic history and geography. The bibliography started out as an aide memoire and in response to requests for recommendations. I update the list twice each year. It has since grown very large so I have created a contents page with internal links to each section. The selection is inevitably personal. But the main criteria are that I have actually read the work; found the information and analysis useful and insightful in some way; and that it is (usually) well-written. I hope you find it helpful. Website link: jkempenergy.com/recommended-re…

@NicolasDVillar1 no US and Israel, no immediate 'vassals,' open to anyone denominating in yuan. It's "open to the world"

Curious what this means in practice.

Paper traders: this war will be over soon and prices will fall. Physical traders: a barrel of UAE oil is now worth $140. reuters.com/markets/commod…

“I never see you at the club.” Yeah, well, I never see you studying the chief parts of a river and its basin.

🚨 New working paper 🚨 with @Nathan_Zorzi studies settings where labor demand declines for one set of jobs and rises for another (eg the climate transition, manufacturing —> services etc). How do workers fare when pace of that shift changes? Thread 👇

Don’t mess this up guys.

Time to open up an all-timer pdf again:

The war bw Substack and @elonmusk is creating friction to no one’s benefit. Anyway, over on Substack, @IranWonk says that the Israeli estimate of 2500 ballistic missiles is for those that can reach Israel! In addition, it has 2000-8000 SRBMs that it can use against gulf targets!

My essay "The risk of action" against ideas of "abyssal" freedom: "To imagine freedom as a freedom from historical constraints is not only misleading, but disempowering. It veils the conditions and contradictions through which genuine action and transformation might occur..." /1

@MattPolProf @mawazo_14 thoughts?

@mawazo_14 Mansfield's recent book on rational control.

Locke, Smith, and Ricardo all propounded and defended the labor theory of value. Here's Harvey Mansfield explaining how Locke probably invented it. If you want to get rid of workmanship, fine. But then it all goes. The pro-capitalist bits and the Marxist bits