According to a WTO offical who was speaking off
record: "there is child labour and child labour, now
in some mines in Peru only kids can do the job"
Things haven't changed much since the days of
primitive accumulation.
--- Louis Proyect [EMAIL PROTECTED] wrote:
Author: Byrne, Iain.
Of course, the Fed could have tried to slow the bubble by
raising margin requirements. It's not clear this would have
worked, but then again, the Fed never tried it.
Jim wrote:
I didn't finish my thought here. The Fed had a hard job in this
situation,
which involved a private-sector-led
Doug wrote:
j
Japan has been unable to appropriate the serious sums n
ecessary to
socialize all that bad debt. Or, put another way, the Japanese ruling
class has been unable to use the state to bail out Japanese
capitalism.
I think a betterr way to put it is that the Japanese ruling class
Village Voice, Week of March 21 - 27, 2001
As Sugar Strike Fails, Longshoremens Union Butts Into Greengrocer Campaign
The Sweetheart Union by Tom Robbins
Don't be asking anyone to sing "Solidarity Forever" over at the
International Longshoremen's Association headquarters on Battery Place.
Village Voice, Week of March 21 - 27, 2001
Mondo Washington by James Ridgeway
America Braces for Contaminated Beef, Plagues Without Borders
The foot-and-mouth disease plaguing European farmers doesn't appear to have
reached the U.S., but with an outbreak in Argentina and a case in
Village Voice, Week of March 21 - 27, 2001
DESK SLAVES by Tom Robbins
White Collar Sweatshop
By Jill Andresky Fraser
Norton, 278 pp., $26.95
White-collar workers, particularly those in the upper earnings echelon,
have never been high on the list of anyone's grievous causes. They hold no
Of course, the Fed could have tried to slow the bubble by raising margin
requirements.
It's not clear this would have worked, but then again, the Fed never tried it.
right, but the officially-"independent" Fed isn't independent of pressure from the
financial interests, who hate that kind of
"Education and Religion"
BY: BRUCE SACERDOTE
Dartmouth College
Department of Economics
National Bureau of
Economic Research (NBER), at New
York
EDWARD L. GLAESER
Harvard University
Department of
Yea , there is Claude Levi-Straussian structuralism, which is based on the structural
linguistics of Saussure. The idea is that a culture is like a structural grammar. That
is customs and traditions are ordered in the way language is by a system of
grammatical structures and rules.
_
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.
Advert for #5NS.doc
from SLATE magazine, by Jacob Weisberg, we have a dictionary of Bushisms:
Herewith, a first lexicon:
Accountability: Federally mandated student testing.
"My education improvement package ... will raise standards through local
control and accountability."--George W. Bush
Affirmative Access:
that is the question: is unused capacity in Japan due to inadequate demand
for the product -- or is it due to excessive investment in the past? in the
former case, simple Keynesian policies (like those I suggested) might work,
while in the latter case, they wouldn't.
Chris B. writes:
If you
that is the question: is unused capacity in Japan due to inadequate demand
for the product -- or is it due to excessive investment in the past? in the
former case, simple Keynesian policies (like those I suggested) might work,
while in the latter case, they wouldn't.
Speaking of overcapacity,
Today, the Supreme Court signed the death warrant for most employee rights
and essentially made most federal and state anti-discrimination and
employment rights laws a dead letter. The Supreme Court ruled that
employees can be forced to give up their right to ever sue a company in an
Wednesday, March 21, 2001
Will Fed rate cut rescue Michigan?
Quick relief unlikely as recession grips state
( Banner front page headline)
David Coates / The Detroit News
Kevin Hughes gets ready to buy a TV at ABC Warehouse Tuesday. Merchants hope the
interest rate cut will spur
first of all, investment may be insensitive to interest rate cuts. but rate
cuts are not a good way to address this sour economy, since overcapacity means
we don't need more plant and equipment, and record household indebtedness means
we don't need consumer spending that is debt-financed. in
RE the AP report:
The arbitration law does not apply to employment
contracts for seamen, railroad employees
or any other class of workers engaged in foreign
or
interstate commerce.
Circuit City contended that the
exception from the
arbitration-enforcement law was limited
to workers
Forstater, Mathew wrote:
Soemone on another list recently reminded me of ch. 25 of the
_Grapes of Wrath_.
Food spoiling while people are hungry, the incredible unreasonableness of this
sick economic system.
Yeah, that's the stuff to focus on, not tales of impending possible
collapse. I swear,
I find the french marxist-structuralist anthropological tradition to be very
helpful. Godelier is only the best known, but Rey, Terray, Pierre Bonte,
Meillassoux are all worth reading (especially Bonte, who is probably the least
well known). All development economists should read this literature.
- Original Message -
From: "Eric Nilsson" [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
RE the AP report:
Circuit City contended that the
exception from the
arbitration-enforcement law was limited
to workers actually involved
in moving goods from one state to another.
-Is this were the
Prices Byte
By Dean Baker
Prices Byte is published each month upon release
of
the Bureau of Labor Statistics' reports on the
consumer price
and producer price indexes. For more information
or to subscribe by
fax or email contact CEPR at 202 293-5380 ext. 206
or [EMAIL PROTECTED]
I find the french marxist-structuralist anthropological tradition to be very
helpful. Godelier is only the best known, but Rey, Terray, Pierre Bonte,
Meillassoux are all worth reading (especially Bonte, who is probably the
least
well known). All development economists should read this literature.
Ellen Frank wrote:
A bailout like the
US SL bailout would require the liquidation of large banks and with it
the loss of status and institutional power of the banks owners.
Large banks? I remember a lot of little-to-medium SLs and banks
being gobbled up by bigger ones, and also lots of mergers
Sorry - I meant that an SL-style bailout in Japan would require the
liquidation
of large Japanese banks. That the SLs were small banks was precisely what
made it possible to liquidate and merge them. The owners -- at least many
of
them - had operated the banks as personal cash machines and were
Aren't these forced arbitration agreements a good reason for unionising?
Unions presumably would not agree to employees signing away the right to sue
and certainly would not let the employer alone choose the arbitration
system. By the way, I don't see in the decision that it is implied that the
Yes, I'll admit to the need for a certain amount of intellectual vindication: it
gives me some satisfaction to witness the breaking of a delusional fever that has
persisted for many years. But I can readily set aside any personal feelings I have
for political ends. While the contradictions of
RELEASED TODAY: The Consumer Price Index for All Urban Consumers (CPI-U)
increased 0.4 percent in February, before seasonal adjustment, to a level
of 175.8 (1982-84=100), BLS reported. For the 12-month period ended in
February, the CPI-U increased 3.5 percent. On a seasonally adjusted basis,
--
From: [EMAIL PROTECTED][SMTP:[EMAIL PROTECTED]]
Sent: Wednesday, March 21, 2001 10:26 AM
To: [EMAIL PROTECTED]
Subject: [baker-data-commentary] PRICES BYTE, 3/21/01
Prices Byte
By Dean Baker
Prices Byte is published each month upon release of
Ellen Frank wrote:
Sorry - I meant that an SL-style bailout in Japan would require the
liquidation
of large Japanese banks. That the SLs were small banks was precisely what
made it possible to liquidate and merge them. The owners -- at least many
of
them - had operated the banks as personal
Joel Blau wrote:
Yes, I'll admit to the need for a certain amount of intellectual
vindication: it
gives me some satisfaction to witness the breaking of a delusional
fever that has
persisted for many years. But I can readily set aside any personal
feelings I have
for political ends. While the
10% of private sector employees are under such mandatory arbitration--
basically the same number as covered by union collective bargaining
agreements. And the former is growing fast and the latter is dropping.
As to the employer picking the arbitration system, that has been upheld in
other
In general, when firms have market power, short-run porfit maximization does
not equal long-run profit maximization. For example, there is a literature
on dynamic limit pricing for monopoly and oligopoly firms that says firms
with market power charge below the short-run profit maximizing price
From: Neil Watkins [EMAIL PROTECTED]
(www.worldbankboycott.org)
March 21, 2001
At their most recent Delegate Assembly, the
delegates of United University
Professions, the largest public higher education
union in the world,
representing more than 24,000 academic and other
professional faculty
Gordon says:
It strikes me as odd, though, that the ruling class would be
blowing off its most disciplined intellectual-worker class
at a time when intellectual goods and services are becoming
more and more important. Or is that merely an appearance?
What's happening is the corporatization of
when I was at the Levy Institute, people would crowd around the teevee when the
Dow was falling, practically rooting for it to crash. It seemed to me like since
Levy is so bearish and doomsdayish that it was looking for a kind of
vindication.
what's the alternative to rooting for it to
Doug:
We have two chances: slim and none. As long as a significant number of people hold
to the psychotic fantasy of the market as their personal touchstone, we'll drift
rightward. Puncturing this fantasy is the sine non qua of any new political
possibility. Moreover, as you yourself have said,
I am lawyer. Since the official justification for Title VII (the employment
discrimination law) and most other federal regulatory law is Congress' right
to regulate interstate commerce, this is far worse than the restriction of
employment discrimination rights through artibtration. That might
In general, when firms have market power, short-run porfit maximization does
not equal long-run profit maximization. For example, there is a literature
on dynamic limit pricing for monopoly and oligopoly firms that says firms
with market power charge below the short-run profit maximizing price
The question isn't whether banks
liquidating/merging banks disturbs the class
structure, in general. The question is whether
Japanese banks can be liquidated/merged without
disturbing the Japanese class structure.
The Japanese system is very different from the US.
First,
I agree completely, Louis. We have to avoid both unproductive romanticization
and paternalism and also 'universalistic' moralizing. But I do think that some
of the greatest lessons for post-capitalist society are in studying
non-capitalist societies. The non-capitalist examples of the past can
Financial Markets Center release: March 21, 2001
Flow of Funds Review Analysis: Q4 2000
As the economy stalled, debt grew in the fourth quarter, compounding
household borrowing burdens, weakening corporate financial ratios and
expanding already unprecedented leverage in the financial sector
Why is everyone convinced that a depression in the U.S. would have
benign political consequences? Africa's been in savage depression for
20 years - where's the revo? Russia's utterly collapsed, and the best
they can do is some red-brown coalition. Germany in the 1920s, well,
the less said
Pay no attention to my previosu post on Circuit City; I hadn't raed the
case. Nathan is right on the commerce clause issue in it.
Nathan, you are right that unorganized workers don't have the individual
power to resist arbitrartion clauses, but there has been work on how the
individualist
Forstater, Mathew wrote:
when I was at the Levy Institute, people would crowd around the
teevee when the
Dow was falling, practically rooting for it to crash. It seemed to
me like since
Levy is so bearish and doomsdayish that it was looking for a kind of
vindication.
what's the alternative to
Just received this from a friend. This picture would go well with the dictionary I
thought.
Sabri
__
Do You Yahoo!?
Get email at your own domain with Yahoo! Mail.
http://personal.mail.yahoo.com/
Ellen Frank wrote:
First, most of the Japanese banks are insolvent
by US standards
So the government should buy their worst loans and hive off the
less-bad stuff and sell it to vultures. They could do it without
disturbing the class structure significantly. How can a capitalist
class sustain
Dear Friends:
This discussion of Japan is interesting and pertinent for the paper I am
writing. The abstract is appended below. I am interested in how
neo-liberalism is being internalized in Japan, knowing fully well that
Japanese social system is very different from the Anglo-Am one. As my
Doug asks:
So what's the upside of throwing 10 or 20 million out of work?
none, except that, in the US at least, _after the fact_ people had a more
balanced attitude toward the "free market" vs. "government." This doesn't
mean that increased statism automatically is a good thing (cf. Nazi
[EMAIL PROTECTED] writes:
Ellen Frank wrote:
First, most of the Japanese banks are insolvent
by US standards
So the government should buy their worst loans and hive off the
less-bad stuff and sell it to vultures. They could do it without
disturbing the class structure significantly. How can a
EXECUTIVE SUMMARY (full report at www.columbia.edu)
New York City Social Indicators 1997 - A Tale of Many Cities
By Irwin Garfinkel and Marcia K. Meyers
In this inaugural report of the Columbia University New York City Social
Indicators Survey, we use data collected in a telephone survey in
None of us are about to hoop and holler about the suffering of innocent people. On
the other hand, A. G. Frank has maintained that during the Depression countries in
Latin America did much better because the United States and was too preoccupied to
do as much damage. In addition, the powers
Louis Proyect wrote:
EXECUTIVE SUMMARY (full report at www.columbia.edu)
New York City Social Indicators 1997 - A Tale of Many Cities
The 1999 report is just out; see
http://www.columbia.edu/cu/ssw/projects/surcent/publications_3_20_01.html
for links.
Doug
Doug wrote:
Uh-oh, you're sounding like Paul Davidson now and it's scaring me. In
relation to profits, what else?
right, thanks for insisting we bring it down to earth. (that's why i said "some
people think...")
at times i am seduced by the notion that even profitability becomes delinked
from
George Dubya, the titular head of the US state, recently got headlines by
okaying the veto by Congress of Clinton-era ergonomic rules in the
workplace. I wonder: isn't part of this reversal Clinton's fault? After
all, Big Bill left this proposal to the end of his years, so that its
actual
At 04:36 PM 3/21/01 -0500, you wrote:
Ellen Frank wrote:
First, most of the Japanese banks are insolvent
by US standards
So the government should buy their worst loans and hive off the less-bad
stuff and sell it to vultures. They could do it without disturbing the
class structure
[long]
I have finished reading a very stimulating and
provocative book on the East Asian situation in
general and would like to throw its observation
into the discussions occurring on both these lists.
The book is _Development, Crisis, and Class
Struggle: Learning from Japan and East
My question below:
Anthony P. D'Costa
Associate Professor Ph: (253) 692-4462
Comparative International Development Fax: (253) 692-5718
University of
Forstater, Mathew wrote:
I just was hanging out with Anwar Shaikh, with who i have had an ongoing
conversation over the years, and who I think has a good handle on
this idea that
capitalism does have these basic tendencies
Last time I talked to Anwar - and it was 2 or 3 years ago - he was
Jim Devine wrote:
I don't think this proposed change "disturbs the class structure" as
much as it goes against individual capitalists' particularistic
self-interests.
Well yeah, but isn't that what the executive committee of the
bourgeoisie is supposed to take care of? What kind of ruling
Some time ago, some people here were
expressing some skepticism about the
wealth effect. I went to faculty party
about a year and a half ago in which the
main topic of conversation was: "what
are you going to retire?" Since the
stock market has backed off, a good
number of these people have
At 09:16 21/03/01 -0500, Ellen Frank wrote:
I think a betterr way to put it is that the Japanese ruling class has been
unable to use the state to bail out Japanese capitalists while still
retaining the status and wealth of said capitalists.
This seems similar to the point that Michael was
It needs to be seen as not one aspect, or the other, but as a contradiction.
Marx related crises to contradictions: they are "always only momentary and
violent solutions of existing contradictions."
There is the contradiction between consumption and production. This is
sharpened by the
I was wondering why nobody seemed to find this article of interest.
On Wed, Mar 21, 2001 at 11:55:13PM +, Chris Burford wrote:
under certain internal and international conditions for a period of time.)
At 10:56 15/03/01 -0800, Michael wrote:
I just found this article
http://www.commondreams.org/headlines01/0321-03.htm
``We do not support the approach of the Kyoto treaty,'' Cheney said.
``If you're really serious about greenhouse gases, one of the solutions to that
problem is to go back, and let's take another look at nuclear power, use that to
generate
[From John Manning]
Fuwa calls to break through economic crisis with three-point policy change
TOKYO MAR 19 JPS -- Japanese Communist Party Central Committee Chair Fuwa
Tetsuzo on March 17 called for three changes in Japan's economic policy to
get the economy out of the critical situation.
In
Doug Henwood wrote:
Jim Devine wrote:
I don't think this proposed change "disturbs the class structure" as
much as it goes against individual capitalists' particularistic
self-interests.
Well yeah, but isn't that what the executive committee of the
bourgeoisie is supposed to take
Louis wrote: Although Stern is an excellent source of information on the Incan
society,
he tends to project contemporary understandings of class relations where it probably
doesn't belong. Instead of calling attention to the achievements of Incan civilization,
Stern mourns the fate of conquered
I don't see why we have to pay attention to _either_ the Incan conquest of
other tribes
_or_ the Spanish conquest of the Incas. Why not both? both are examples of
class society.
-- Jim Devine
Because Incan class society was relatively benign, while Spanish colonial
class society was genocidal.
I wrote: I would guess (note the verb) that there's a deadlock between those
neoliberals
(at the Bank of Japan?) who want to remodel the entire financial system in the US mould
and those who are trying to preserve individual positions...
Anthony asks: But what brings about this actual
As I mentioned before, I think that the agreement to adopt the Basil
Accords regarding banking practice was a crucial factor, just as S.
Korea's willingness to open up its financial mistake was an error.
Am I wrong here?
On Thu, Mar 22, 2001 at 02:45:29AM +, [EMAIL PROTECTED] wrote:
I
Doug wrote: Well yeah, but isn't that what the executive committee of the
bourgeoisie is
supposed to take care of? What kind of ruling class can't use the state to promote its
general class interest?
Carrol answsered: John Adams warned that one should never trust England to know and
act
in
I wrote: I don't see why we have to pay attention to _either_ the Incan conquest of
other tribes _or_ the Spanish conquest of the Incas. Why not both? both are examples of
class society.
Louis answers: Because Incan class society was relatively benign, while Spanish
colonial
class society was
Hi Penners,
A Mar. 21 MSNBC report says "Since March of 2000, when NASDAQ prices peaked,
the tech sector collapse has wiped out an astonishing $4.7 trillion from
investment portfolios."
Is this accurate?
Thanks in advance,
Seth Sandronsky
Thanks to Cheney, all is clear now. Saving the Earth is bad for business.
Seth
It's official: Cheney has lost the rest of his mind
by Lisa Ian Murray
22 March 2001 01:29
http://www.commondreams.org/headlines01/0321-03.htm
``We do not support the approach of the Kyoto treaty,'' Cheney said.
Seth Sandronsky wrote,
No. Assuming the calculation is right, the $4.7 trillion would represent a
value that could never be realized because if investors tried to liquidate
their portfolios, prices would come down and they would "lose" the $4.7
trillion that they never had in the first place.
Thanks to Cheney, all is clear now. Saving the Earth is bad for business.
Seth
*
Or, as some of the technerds in Redmond and Kirkland, WA I've met over the past
three years say [poking fun at enviro-devastation]: "earth first, we'll get to
the other planets later."
Ian
Nathan Newman wrote:
---
-Is this were the Supremes are headed--a radical
-reduction in the proportion of firms covered by
-federal law by this new reading of the meaning of
-the term "interstate commerce."?
Actually, no. The decision is more absurd that
At 20:31 21/03/01 -0500, you wrote:
[From John Manning]
TOKYO MAR 19 JPS -- Japanese Communist Party Central Committee Chair Fuwa
Tetsuzo on March 17 called for three changes in Japan's economic policy to
get the economy out of the critical situation.
Describing the nation's economy as being
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