. But that is not new.
Jeff
--
From: Michael Perelman
To: [EMAIL PROTECTED]
Subject: What went right -- once again
Date: Thursday, March 19, 1998 12:25PM
Louis Proyect said that he thought that I was being ironic with my
original
question. I was, but only to an extent. The economy looks
Louis Proyect said that he thought that I was being ironic with my original
question. I was, but only to an extent. The economy looks so good from the
top. The stock market is soaring. Business is in command. Even labor is doing
a bit better in some ways.
I don't think that this
Due to jargon deficiencies (mine, of course) I have not been following
these threads very well, but there's enough to jog a memory.
Back in the Sixties, when questions and answers were simple,
I met a Dutch businessman somewhere in the Balkans.
Apropos of something, he suddenly intimated that
In a message dated 98-03-14 05:06:03 EST, Dennis writes:
Also, for a country were half the population in the early Fifties lived in
non-urban areas, and where women were largely confined to familial jobs
and brutalized by fearfully medieval gender ideologies, this expansion of
the low-wage
That said, it's true the power and glory of Sony and Mitsubishi was
(and is) built on the backs of rudely treated, miserably compensated and
frightfully overworked working women. Which is why, I suspect, that
the class politics of 21st century Japan are going to be the politics of
gender.
--
In a message dated 98-03-14 11:56:56 EST, Doug writes:
I thought I was pretty unshockable, but a recent report from the U.S.
Bureau of Justice Statistics shocked me. Based on present incarceration
stats, a black male born today faces a 1 in 4 lifetime chance of doing
prison time. Prison,
In a message dated 98-03-14 13:06:44 EST, you write:
At 05:40 AM 3/14/98 EST, you wrote:
Maggie:
Certainly Germany is more unionized than the USA, but since the fall of
the
wall labor there has been under tremendous attack. As to Japan, the
benefits
accruing to labor have accrued
At 05:40 AM 3/14/98 EST, you wrote:
Maggie:
Certainly Germany is more unionized than the USA, but since the fall of the
wall labor there has been under tremendous attack. As to Japan, the
benefits
accruing to labor have accrued to Japanese men. A New School student (Dave
Kucera) has done
Quoth Doug, in shock:
I thought I was pretty unshockable, but a recent report from the U.S.
Bureau of Justice Statistics shocked me. Based on present incarceration
stats, a black male born today faces a 1 in 4 lifetime chance of doing
prison time. Prison, where you go after conviction for a
MScoleman wrote:
The point of adding in the prison population isn't the great absolute rise in
unemployment, but the huge proportional rise in unemployment for African
American and Hispanic men. Since the vast majority of prison inmates are
AFrican American and Hispanic men, the inclusion of
To: [EMAIL PROTECTED]
Subject: Re: What went right?-unemployment
Mime-Version: 1.0
Content-type: text/plain; charset=US-ASCII
Content-transfer-encoding: 7bit
X-Listprocessor-Version: 8.1 -- ListProcessor(tm) by CREN
On Fri, 13 Mar 1998, MScoleman wrote:
As to Japan, the benefits
accruing to labor have accrued to Japanese men. A New School student (Dave
Kucera) has done some interesting research which shows that the Japanese
corporations could reimburse men well because of the flexibility of the
Sorry Maggie, for being anonymous but I am lazy about signing my name.
(ie Paul Meyer)
I was interested in how one should interpret the macro-economic stats given
how central they are to selling the "American model." (I mean the triumphalism
of the business press is nauseating). It seems to me,
Dennis wrote:
Wars in late capitalism are police actions against rogue semi-peripheries
or raw materials producers;
And as long as that remains the case there is no possibility that Europe or Asia
will shove US imperialism aside. The euro, which will most likely be a soft currency,
the yen or
On Thu, 12 Mar 1998, valis wrote:
Your immense admiration for the German and Japanese systems suggests
to me that their judicious compromise between stalemated capitalist and
SD forces is the best we can hope for, there or here. Is that so?
Admiration? Hardly. They're capitalist,
Mark Jones wrote:
No need to speculate, Bill, here are the facts (we were discussing
Dennis's views about the unimportance of the UK vis a vis Japan
and Germany).
I suspect a lot of those purchases attributed to the UK are for
international operations of all kinds of financial institutions
Dennis R Redmond wrote:
You're making the classic rentier mistake of confusing short-term
profitability
I hope I manage to profit from my mistakes as much as they do.
(the accumulation of finance capital) versus long-term
profitability (market share). The whole point of my argument is
Mark Jones wrote:
I read Doug Henwood's book attentively. Yes, it
is a good book. But his view that Wall St was not a good custodian of US
national and industrial assets, cannot surely be our final judgment. Wall St
led and initiated a massive restructuring of US capitalism, hauling it round
In a message dated 98-03-12 23:06:59 EST, you write:
Even if you did throw the prison population into the stats, how much
would effect the official unemployment rate? 1 or 2 per cent?
The person who sent this comment didn't sign their message, and their email
address was no clue -- however
valis:
Your immense admiration for the German and Japanese systems suggests
to me that their judicious compromise between stalemated capitalist and
SD forces is the best we can hope for, there or here. Is that so?
Redmond:
Admiration? Hardly. They're capitalist, planet-raping bastards,
At 05:28 PM 3/13/98 EST, Maggie Coleman wrote:
maggie:
Certainly Germany is more unionized than the USA, but since the fall of the
wall labor there has been under tremendous attack. As to Japan, the benefits
accruing to labor have accrued to Japanese men. A New School student (Dave
Kucera)
On Fri, 13 Mar 1998, Mark Jones wrote:
why else is sterling 15% overvalued, if it is not being used as a hedge
against such an outcome?
Because British interest rates are higher than Continental European rates.
Too high to ever permit Britain to get rich off of exports like Denmark or
Doug Henwood wrote:
I don't think it's this simple. Japan is suffering from a serious hangover
from its bubble days, a bubble caused in part by the partial deregulation
of its financial sector, itself caused in part by a policy of low interest
rates urged on them by the U.S. Germany and the
Doug Henwood wrote:
Mark Jones wrote:
No need to speculate, Bill, here are the facts (we were discussing
Dennis's views about the unimportance of the UK vis a vis Japan
and Germany).
I suspect a lot of those purchases attributed to the UK are for
international operations of all kinds
To whom...,
Hi. New here, but not to everybody.
When Dennis Redmond wrote that "EAM/CEM firms are, on average, far
more leveraged than their American counterparts", it really surprised me
for two reasons. First, I know that management consultants and
Interesting data. Why would the Canadian and U.S. banks be so much more
successful in increasing their profitability?
Mark Jones wrote:
Here are the figures on commercial bank profitability, from the IMF 1997
report, International Capital Markets Developments, Prospects, and Key
Policy
L PROTECTED] wrote:
Since when do Post-Keynesians subscribe to the ISLM model?
--
From: Rosser Jr, John Barkley
To: [EMAIL PROTECTED]
Cc: [EMAIL PROTECTED]
Subject: Re: What went right?
Date: Wednesday, March 11, 1998 5:41PM
Doug,
You should have said "take that, Post Key
Doug,
Hmmm, must have missed those questions on pkt.
Actually some of the newer open economy ISLM models have
the main stimulus of an expansionary monetary policy, or of
any policy such as reducing budget deficits without a
monetary tightening that leads to lower interest rates
No need to speculate, Bill, here are the facts (we were discussing
Dennis's views about the unimportance of the UK vis a vis Japan
and Germany).
Net Foreign Purchases of U.S. Bonds
(In millions of U.S. dollars)
Government Corporate Total
You're making the classic rentier mistake of confusing short-term
profitability (the accumulation of finance capital) versus long-term
profitability (market share). The whole point of my argument is that
the banking system of the Central European and East Asian metropoles
In a message dated 98-03-09 17:23:04 EST, you write:
Well? By what standards? Unless you mean relatively low unemployment.
Not hard to understand, given the 1.2 million employeable Americans in
prison. Or do you mean the sheer length of the current US business cycle,
now wheezing along in
On Thu, 12 Mar 1998, Mark Jones wrote:
Net Foreign Purchases of U.S. Bonds
(In millions of U.S. dollars)
Government Corporate Total
Bonds Bonds
1996 293,685 77,978 371,663
Of
On Thu, 12 Mar 1998, Mark Jones wrote:
Here are the figures on commercial bank profitability, from the IMF 1997
report, International Capital Markets Developments, Prospects, and Key
Policy Issues (supplementary tables), which demonstrates the adverse
turn in the fortunes of Germany and
Canada and the US I cannot say.
Jeff
--
From: Michael Perelman
To: [EMAIL PROTECTED]
Subject: Re: What went right
Date: Thursday, March 12, 1998 10:44AM
Interesting data. Why would the Canadian and U.S. banks be so much more
successful in increasing their profitability?
Mark Jones wrote
Rosser Jr, John Barkley wrote:
Post Keynesians have a harder time
explaining "why things have gone right" (probably Michael
P. should introduce this thread over on pkt, just for
kicks, :-)).
I've tried that twice now, and the closest approximation of a credible
answer I've gotten was Paul
At 07:44 AM 3/12/98 -0800, Michael Perelman writes:
Interesting data. Why would the Canadian and U.S. banks be so much more
successful in increasing their profitability?
in response to Mark Jones' presentation of the following data for bank
profitability:
Major Industrial Countries:
On Thu, March 12, 1998 at 07:44:34 (-0800) Michael Perelman writes:
Interesting data. Why would the Canadian and U.S. banks be so much more
successful in increasing their profitability?
I have a further question: how do you make the leap from profitability
to the size of the stakes purchased,
Here are the figures on commercial bank profitability, from the IMF 1997
report, International Capital Markets Developments, Prospects, and Key
Policy Issues (supplementary tables), which demonstrates the adverse
turn in the fortunes of Germany and Japan v. the Anglo-Saxon world. Not
much signs
On Mon, 9 Mar 1998, john gulick wrote:
Your persistent celebration of Central European and Japanese
neo-mercantilism misses the flip side of the dialectical coin -- neo-liberal
America with its super-dollar and its credit card Keynesianism realizes the
value that these countries' workers
Dennis R Redmond wrote:
Ah, yes, this explains the amazing resurgence of that British car
industry, yes?
Dennis, your fascination with widgets blinds you to certain truths about the
contemporary set-up.
As well as those powerhouse Brit electronics/software/
semiconductor firms, busily
Doug,
You should have said "take that, Post Keynesians!"
Most garden variety Keynesians who believe in the ISLM
model (supposedly nobody does, but all policymakers and all
macroeconometric forecasting models do) would and did
predict that taxing the rich to reduce the deficit would
On Wed, 11 Mar 1998, Mark Jones wrote:
The US is not falling behind, it is
moving ahead. And Japan and Germany are not going to catch up and
overtake Anglo-Saxon capitalism anytime soon, if ever. BTW, people write
off Rule Britannia too easily. As the 51st state of the Union, we are
doing
In a message dated 98-03-11 09:36:51 EST, Mark writes (amongst other things):
Anglo-Saxon world dominion has
lasted for almost three centuries and will probably last as long as
capitalism.
Mark
It depends on how you define Anglo-Saxon. maggie coleman [EMAIL PROTECTED]
Dennis wrote:
The point is that East Asia and Central Europe are going to be the key
battlegrounds for the global class struggle; in a world-economy where the
US makes up only around 20% of total production, and is trillions of euros
in debt to the new metropoles, we like Britain before us
"... much of the recent [noninflationary] economic growth [in the US] has
been caused not by productivity gains but by new jobs and by the greater
number of hours worked by those already employed. Workers 'are coming out
of the woodwork' as jobs become available, so the pressure raise wages and
Amongst other things Jim Devine writes:
Another reason for the US boom has increased consumer indebtedness. This,
partly caused by relatively stagnant real wages, has allowed consumer
spending to do relatively well.
Good point. Now a question about the relation of consumer debt to
Michael Perelman wrote:
I would like to start a dialogue on why the (U.S.) economy has been
doing as well as it has over the past few years. We know about the
problems, inequities , but why has the house of cards stayed up as
long as it has.
Hey, how about this - taxing the rich reduced
In the midst of making many other interesting points, Louis Proyject writes:
What it will take to reverse these trends is a strengthening of the labor
movement, which is already beginning. Alex Cockburn's column in the same
digital edition of the Nation reports on the struggle of Oakland
At 10:07 AM 3/10/98 -0500, Louis P wrote:
The Nation Magazine Digital Edition (www.thenation.com) has an article by
Mark Cooper on Chile today that includes the following passage:
what's the URL (web page address)? I am getting sick of being in the NATION
time machine, where I read columns and
The Nation Magazine Digital Edition (www.thenation.com) has an article by
Mark Cooper on Chile today that includes the following passage:
"Chile hardly holds the patent on a pullback from politics, a reflex now
rampant from Peoria to Poland. But few countries in recent decades have
traveled
On Mon, 9 Mar 1998, Michael Perelman wrote:
I would like to start a dialogue on why the (U.S.) economy has been
doing as well as it has over the past few years. We know about the
problems, inequities , but why has the house of cards stayed up as
long as it has.
At 02:17 PM 3/9/98
On Mon, 9 Mar 1998, Michael Perelman wrote:
I would like to start a dialogue on why the (U.S.) economy has been
doing as well as it has over the past few years. We know about the
problems, inequities , but why has the house of cards stayed up as
long as it has.
Well? By what standards?
Michael P. wrote: I would like to start a dialogue on why the (U.S.)
economy has been doing as well as it has over the past few years. We know
about the problems, inequities , but why has the house of cards stayed
up as long as it has.
Maggie C. replies: Part of the reason (IMHO) is that
In a message dated 98-03-09 12:10:58 EST, Michael Perelman writes:
I would like to start a dialogue on why the (U.S.) economy has been
doing as well as it has over the past few years. We know about the
problems, inequities , but why has the house of cards stayed up as
long as it has.
I would like to start a dialogue on why the (U.S.) economy has been
doing as well as it has over the past few years. We know about the
problems, inequities , but why has the house of cards stayed up as
long as it has.
By the way, someone on NPR's Living on Earth [their last decent show]
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