[was: Re: [PEN-L:7620] RE: Re: RE: Re: Re:GDP Byte by Dean Baker, 1/31/01]
Ian wrote:
The ECI [employment cost index] has been rather benign through the '90's, no?
it's quite possible that the Fed has different standards of what's benign
than you or I. They triumphed over inflation on the
Howdy Penners
It was some time ago that the much-missed Jim Craven penned a memorable
screed highlighting how with ultra-radicals and ultra-conservatives, it was
most often the "ultra" that was the guiding influence, given whatever
personal quirks belonged to the individual in question. There
http://www.pbs.org/neighborhoods/history/daily/19-Aug.html
1987 - It was on this day that consumer reporter David Horowitz was held at
gunpoint -- on camera. During a KNBC-TV newscast in Burbank, CA, Horowitz
was forced to read the assailantÂ’s rambling note. The news director took the
program off
George Becker, president of the Steelworkers Union, in a William Greider
article in the Jan 29th. Nation.
"I'm not an economist, I just go on gut beliefs," Becker said. "But Paul is
a
person working people and labor people can talk to. He is an industrialist
who believes in the United States and
Jim Devine wrote:
the economy is _always_ new (while it's always old, too). (Half of the
poli. sci. books have "continuity and and change" in their titles -- and
they're right to put it there.) And I understand that someone named Doug
has a book out on this subject
=
Doug McClure?
Howdy Penners,
If you go back a couple of years to when the lovely Henry K. was touting the
latest instalment of his memoirs, there was an extensive excerpt published
in "Foreign Affairs" in which Dr Death tried to have it both ways (as
usual). But in acknowledging the differences that arose
From the US' best "rural" newspaper...
Power on the loose
Environmental News, west
California's energy crisis could very well become a Western crisis as
the nationwide drive toward power deregulation continues. While a new
system emerges, an energy-starved West must find a way to feed
Capital
Temp Workers
Have Lasting Effect
ON ANY GIVEN DAY, more Americans owe their jobs to temporary-help outfits than
are working in auto and aircraft factories. About 10% of the job growth in the 1990s was
in temp agencies, twice as much as in the 1980s. Manpower Inc. boasts of being
From the US' best "rural" newspaper...
Power on the loose
Environmental News, west
California's energy crisis could very well become a Western crisis as the
nationwide drive toward power deregulation continues. While a new system
emerges, an energy-starved West must find a way to feed this new
Jim Devine wrote:
Horowitz just surfaced again, as bad as before.
yeah, he had an ad (sponsored, somewhat secretively, by the Edison
Institute or something similar which had its initials posted in the bottom
right-hand-side of the TV screen) against those favoring bankruptcy for
PGE and
I get letters... Anyone got responses?
From: "RICHARD ALLEN@" [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Subject: Question
Date: Sun, 28 Jan 2001 11:49:51 -0500
X-Mailer: Microsoft Outlook IMO, Build 9.0.2416 (9.0.2910.0)
Importance: Normal
Hi
Have you done a paper about the relationship of
I also agree with Jim Devine. One reason GDP does not measure real growth
in many countries such as India is that the markets there are not fully
capitalized, much of the economic exchange is still represented by barter
and home production. The standard national accounting system does not
Mike reminded me of how floored I was when I heard about the Virginia
legislature passing laws about where to sleep in the house you own... To
make matters even more hypocritical, Virginia is a right to work state --
because unions interfere in the market place. So it's o.k. to stamp out
living
Um, if it's built by humans it won't be intelligent :-).
Seriously, "the left" such as it is, needs to really get into ecology,
engineering, satellites and computers in the next decade and, oh ,yeah, figure
out how to break the neo-Kantian stranglehold on the current international
I haven't read the Challenge article yet, but so far everything I have read
about the "new economy" sounds like smoke and mirrors to me. It also seems
like this "new economy" is about to take a bath just like plain old economies
do all the time in capitalism. maggie coleman
Michael Perelman
At 09:06 PM 01/31/2001 -0600, you wrote:
I haven't read the Challenge article yet, but so far everything I have read
about the "new economy" sounds like smoke and mirrors to me. It also seems
like this "new economy" is about to take a bath just like plain old economies
do all the time in
Well, I hope you're right too! maggie
Nathan Newman wrote:
- Original Message -
From: "Margaret Coleman" [EMAIL PROTECTED]
-The only problem with using a reasonable (?) solution to California's
problems
-as a way to tout democrats over republicans is that it was the democrats
Yoshie Furuhashi wrote:
Maggie says:
I think what we need to do is support pro-CHOICE, which is not the same as
pro-abortion, though abortion is a very important part of choice.
Well, the question is, though, if the "international family planning
organizations" have had a measurable
Michael Perelman wrote,
The actual conspiracy that I was accused suggesting was that Adam Smith
wrote in such a way as to intentionally mislead his readers. In that
case, the conspiracy consisted of Adams Smith alone. So he must have
engaged in a "spiracy," since there were no cons involved in
http://www.guardian.co.uk/international/story/0,3604,431328,00.html
Leak reveals crisis at World Bank
Larry Elliott, economics Editor
Wednesday January 31, 2001
The World Bank is an institution in crisis with staff living "in fear" of the
organisation's autocratic boss, James Wolfensohn,
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The ECI has been rather benign through the '90's, no? And haven't they been
moving rates to prevent capital outflows, even as they worry about the trade
deficit? Given the FOMC meets every six weeks haven't they been far more worried
about bank balance sheets in the face of high corporate
Jim Devine wrote
saith Rev. Tom:
Sounds interesting. Could you expand a bit?
sure, I'm a sucker for such things. No -- on second thought, I can't, since
I've got too much work. Look at my article in Baiman, Boushey, and
Saunders, eds., POLITICAL ECONOMY AND CONTEMPORARY CAPITALISM: RADICAL
I may well be a conspiracy theorist, but the rest of my conspiratorial
group will not let me go public with it.
The actual conspiracy that I was accused suggesting was that Adam Smith
wrote in such a way as to intentionally mislead his readers. In that
case, the conspiracy consisted of Adams
At 14:29 31/01/01 -0600, you wrote:
http://home.earthlink.net/~caro/topten.html
Fundamentally does he not have to hope that juggling interest rates will
somehow conjure up more available surplus value within the US economy for
capital to go on happily accumulating. OItherwise it will have to
I am not sure about this, but keynes and hayek in some
correspondence seemed to be in agreement on the causes
of the cycle but not on the remedy. It is true that
Hayek's use is wrong not only for this but also for
methodological reasons. I probably meant that
intervention of the usual kind is not
2) Did not George Kennan in his original anonymous
article on containment raise the possibility of an eventual
evolution of the Soviet system as a response?
IIRC, yes. And that was one reason that the policy was originally
supposed to be one of "containment" and not of "confrontation."
That was my reading of Smith.
Jim Devine wrote:
Michael Perelman wrote:
The actual conspiracy that I was accused suggesting was that Adam Smith
wrote in such a way as to intentionally mislead his readers. In that
case, the conspiracy consisted of Adams Smith alone. So he must have
At 06:10 AM 2/1/01 -0800, you wrote:
Here one must introduce political
economy, i.e. War, and a New World order in which
immediate re-division and even the old dream of
re-colonizing the newly independent states may not be
ruled out although highly unlikely since many of these
have already
anyone interested in the declining terms of trade thesis should begin with
Prebisch-Singer, in both its original form (focusing on primary vs. manufactured
products) and its revised form (focusing on
structural differences in economies). In the statistical debate later on,
Prebisch-Singer was
At 10:01 AM 2/1/01 +0200, you wrote:
Anyway, it's frightening to know that there are two awful David Horowitzes.
I thought you were referring to the same ex-Ramparts guy. What is the
other's main claim to fame?
the other is a self-styled "consumer advocate," who might have been a
useful TV
Michael Perelman wrote:
The actual conspiracy that I was accused suggesting was that Adam Smith
wrote in such a way as to intentionally mislead his readers. In that
case, the conspiracy consisted of Adams Smith alone. So he must have
engaged in a "spiracy," since there were no cons involved in
As Vickrey pointed out, it is unexpected changes in the rate of inflation and
not inflation in and of itself that is of potential concern (in general, not
under current conditions in our economy). As the Nobel-winner also emphasized,
unemployment has greater cost social and economic costs than
Date: Wed, 31 Jan 2001 09:53:26 -0800
From: Brad DeLong [EMAIL PROTECTED]
I always thought that successful industrial policies were built on
*subsidizing* exports. I've yet to understand why the hell *taxing*
Mozambique's exports is going to make anyone (except the owners
On one level, isn't the creditor class's ( and its executive committee , the Fed)
constant concern about inflation , and method of fighting it by raising interest rates
as simple as:
1) When interest rates go up, creditors get more profits just straight up ( so the
claim that the interest
Jim,
I also fully agree that later Marxists certainly did
have bunching theories of cycles tied to investments
in specific technologies. I would note that the inspiration
for Mandel's arguments came from Trotsky and Parvus.
Barkley Rosser
-Original Message-
From: Jim Devine [EMAIL
Jim,
Not clear to me that "accumulation" is clearly tied
to either the supply side or the demand side. I fully
agree that Marx made much of the demand side
("failure to realize surplus value" etc.) in his discussions
of macro fluctuations. He also did have a replacement
wave theory of
[EMAIL PROTECTED]
After the mid 20's, you can
get a lot further in predicting Soviet foreign policy using a straight line
national interest calculation than an ideological one.
((
CB: How was almost going to nuclear war with the U.S. over Cuba in the Soviet narrow
national
Actually the Virginia legislature, now fully dominated
by the Repugs who are seriously beholden to the
Christian Right are going off the deep end. The latest?
They have just passed a 24-hour waiting period on
abortions and also a law requiring students in high
schools to stand and recite
[EMAIL PROTECTED] 01/30/01 11:22PM
Nice discussion. To your question ,
What government bureaucrat would decide? (as to what is "faith based" and what not)
The answer is the tax court and then the regular federal Court of Appeals, as I
recall. ( Judges are bureaucrats too).
It seems
After some protest, the sleeping law was withdrawn. However, such
regulations are not uncommon in many jurisdictions. They are aimed at
keeping poor immigrant families, e.g., 10 people living in one house with 3
bedrooms, out of the "good" neighborhoods. When I first came to the DC area
I lived
A great irony of that "we will bury you" line
is that indeed the substance and specifics behind
it involved forecasts that the USSR would surpass
the US in the production of such things as steel,
cement, wheat, and oil, obvious signs of the
glories of command central planning. The funny
[was: Re: [PEN-L:7657] Re: Re: Re: Re: Re: Re: recent economic trends]
Barkley wrote:
Not clear to me that "accumulation" is clearly tied to either the
supply side or the demand side. I fully agree that Marx made much of the
demand side ("failure to realize surplus value" etc.) in
At 01:20 PM 2/1/01 -0500, you wrote:
After some protest, the sleeping law was withdrawn. However, such
regulations are not uncommon in many jurisdictions. They are aimed at
keeping poor immigrant families, e.g., 10 people living in one house with 3
bedrooms, out of the "good" neighborhoods.
Good points, Charles. What also needs to be recognized is that the Clinton-era
expansion was fueled by unprecedented private sector borrowing, which is
spending in excess of its income by an amount equal to about 6.5% of GDP. All
the recent economic data, however, indicate that borrowing by
so if you refuse to say the pledge (as I did when I was in 4th grade) are you
breaking the law and liable to be arrested?
-Original Message-
From: J. Barkley Rosser, Jr. [mailto:[EMAIL PROTECTED]]
Sent: Thursday, February 01, 2001 12:00 PM
To: [EMAIL PROTECTED]
Subject: [PEN-L:7659]
Having to live with them was hell, but from a broader perspective they were
also the victims of the Pentagon cultureNo, I didn't spit on them (or
the many anti-war G.I.'s I worked with from 1965 - 1975 in San Diego and San
Francisco).
-Original Message-
From: Jim Devine
The California Assembly failed to pass the utility bailout last night
because of lack of Republican support for rate increases. Does this mean
California lefties will be voting Republican in the next election?
http://www.newsday.com/ap/text/national/ap865.htm
David Shemano
Mat,
Liable to be suspended from school.
The original bill was even stricter, but was
cut back in face of its obvious unconstitutionality
in the face of the 1943 Supreme Court ruling on
this matter. A lot of people think the bill that has
just passed is also unconstitutional. BTW,
Here is a section from my Marx book regarding Marx's theory of replacement
cycles. Notice Engel's firm rejection at the end.
The simplest of these versions of a reproduction crisis reflected the life
cycle of fixed capital. This idea was first broached when Marx was reading the
works of
In one of his regularly e-mailed think pieces ("The Economic Policy World
Turned Topsy-Turvy"), Brad deLong wrote:
The Federal Reserve Chair [Greenspan] seems most interested in the big
Treasury problems of government debt and asset management rather than in
what the equilibrium real rate of
Just how is this law about sleeping in bedrooms enforced? I know God must
see everything but he doesnt keep video tapes
for authorities to peruse..
Cheers, Ken Hanly
- Original Message -
corporations. Then it has to be overruled. Individuals know what is
best, but then
Date: Wed, 31 Jan 2001 09:53:26 -0800
From: Brad DeLong [EMAIL PROTECTED]
I always thought that successful industrial policies were built on
*subsidizing* exports. I've yet to understand why the hell *taxing*
Mozambique's exports is going to make anyone (except the
[EMAIL PROTECTED] 02/01/01 01:00PM
Actually the Virginia legislature, now fully dominated
by the Repugs who are seriously beholden to the
Christian Right are going off the deep end. The latest?
They have just passed a 24-hour waiting period on
abortions and also a law requiring students
The following is an interview with Hernando de Soto, the author of "The
Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere
Else": http://www.christianitytoday.com/bc/2001/001/6.24.html
Any general or specific critique would be appreciated.
David Shemano
Michael,
We are all in full agreement on this business of
the replacement cycles and Marx, and Jim D. has
even helpfully noted where in Capital Vol. II it appears
(possibly elsewhere as well). The issue is that you
identified Marx as the father of the "bunching" theory
of technologically
there's a critique in the book review by Chase in the current issue of
CHALLENGE. Chase also reviews Perelman's book.
as I understand de Soto, he's arguing that if we give property rights (in
their currently-occupied land) to all the third world squatters, it will
unleash capitalism. I say
I have included just part of the introduction. Info from Johnson's Russia
List..
CHeers, Ken Hanly
The Tragedy of Russia's Reforms: Market Bolshevism Against Democracy
by Peter Reddaway and Dmitri Glinski
768 pp./6 x 9
$29.95 (paper); ISBN: 1-929223-06-4
$55.00 (cloth); ISBN: 1-929223-07-2
BLS DAILY REPORT, THURSDAY, FEBRUARY 1, 2001
RELEASED TODAY: In December 2000, there were 2,677 mass layoff actions by
employers as measured by new filings for unemployment insurance benefits
during the month. Each action involved at least 50 persons from a single
establishment; the
I apologize but I don't have time to read it right now. He did a very
nice interview on Doug Henwood's radio show. He is correct that many
rules and regulations make it difficult for poor people to become
entrepreneurs -- for example, merchants in this country commonly take
measures against
Marx suggested something like an echo cycle occurring every ten years, but
he never gave a reason for the original bunching.
On Thu, Feb 01, 2001 at 03:44:41PM -0500, J. Barkley Rosser, Jr. wrote:
Michael,
We are all in full agreement on this business of
the replacement cycles and
The USSR quite sensibly backed off from nuclear war with the US over
Cuba--Khrushchev, unlike Kennedy, having more brains than testosterone. The
bet, not a crazy one, though wrong, in putting missiles in Cuba, was that
the US would respond sanely without postering. The assertion that the USSR
Yeah, I would say. There's problems with unconstitutional conditions. Btw,
are you sure the note must be from a clergy member? That's clearly
unconstitutional. Suppose you object to the pledge cause you are an atheist?
Btw, I went to primary school in VA, it may explain why I am so strange.
Full article at:
http://washingtonpost.com/wp-dyn/articles/A13515-2001Feb1.html
Duisenberg's Confidence Contrasts With Fed's Alarm
By Alister Bull, European Economics Correspondent
Reuters
Thursday, February 1, 2001; 12:49 PM
FRANKFURT, Feb 1—Fortune is finally favouring European Central
here's an economic proposal, reprinted from SLATE:
A NY [Times] op-ed plumps for an idea favorably discussed by the WP's
David Broder in his column yesterday, and now apparently making the policy
rounds in Washington: Instead of a tax cut programmed over the coming
decade based on guesses
The next election might have an Initiative to have a California Power
Authority take over everything. A lot of lefties will vote for that.
Gene Coyle
David Shemano wrote:
The California Assembly failed to pass the utility bailout last night
because of lack of Republican support for rate
This would be a wonderful opportunity for demagogues. A politician who
votes to spend money, say for the homeless, would be accused of taking
checks directly away from individuals.
On Thu, Feb 01, 2001 at 04:28:18PM -0800, Jim Devine wrote:
here's an economic proposal, reprinted from SLATE:
A
it's also progressive (in the sense that each permanent resident gets an
equal amount) while reinforcing macroeconomic fluctuations at the same
time. (A recession would cause the surplus to fall, and thus the stimulus
to the economy from the distributions of the surplus.) That's not a very
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