Re: Re: ocal Government Rejects Corporate Personhood
Corporate personhood came the long after corporate charters became relatively easy to get. The advantage of the corporate charter was bankruptcy protection, which did stimulate business. The purpose of personhood was freedom from regulation -- not necessarily require to stimulate business, as Justin suggested. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: The real Mary
In response to Chris's theological note, perhaps the INS roundup of Muslims is an attempt to celebrate the true roots of Christmas. Maybe we should be celebrating their detention in the spirit of the times. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Frist's Skeletons
A Wall Street Journal column on politics recommended that Frist sell his HCA stock immediately. Of course, Tenet Health Care is more in the spotlight, now that 2 nearby doctors have been accused of giving unnecessary heart surgery to patients in Reading, CA. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Sec. Snow
Does anybody know anything about his academic training and interests? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: The new economics
Come on, Alan. Michigan has $1 billion deficit. Here in California, the estimates have been rising rapidly, now coming close to $40 billion. We require a two-thirds majority to pass a budget and the Republicans are committed to no taxes. One proposal being bandied about this to sell off state property. On Tue, Dec 24, 2002 at 08:44:21AM -0500, Alan Jacobson wrote: In Michigan it is unbelievable. The legislature voted 3 to 1 not to suspend a scheduled personal income tax reduction for 2004 despite the fact that a 1.8 billion deficit is forecast for the FY03 budget. This .1% tax cut will mean approx $25 less taxes for the avg household but will be millions in less rev for the state. The incoming Democratic governor-elect was quoted several times during the campaign that she wouldn't raise taxes. When you factor in the shift from progressive to regressive taxation in nearly state (reduction of income taxes and increase in consumption-based taxes) and how a lot of these budget cuts will disproportionally effect lower-income populations (ie., less funding for higher education leading to higher tuition = regressive transfer), and factor in stagnant real wages, are we moving into another period of massive wealth polarization a la the 80s? Or is this just a bad bump in the road? Alan Jacobson -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: the humbling?
Would a stronger fine indicate a seriousness that would create pressure to go after higher-ups (Weil?)? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Trap tripped Lott
Supposedly, a study estimated that if each racial/ethnic group would vote in 2004 as they did in 2000, the repugs would loose because of changing demographics. As a result, they have to appear less racist [except for Middle Easterners]. On Mon, Dec 23, 2002 at 12:25:16PM -0800, Dan Scanlan wrote: So what has happened for the conservative right that Bush let him [Lott] fall? When you are about to incinerate dark skinned people in the Middle East by sending black American soldiers to their deaths, you don't want the citizenry to think you're racist. It's a public relations move. Dan Scanlan -- --- Drop Bush, Not Bombs! --- During times of universal deceit, telling the truth becomes a revolutionary act. George Orwell END OF THE TRAIL SALOON Live music, comedy, call-in radio-oke Alternate Sundays, 6am GMT (10pm PDT) http://www.kvmr.org --- I uke, therefore I am. -- Cool Hand Uke I log on, therefore I seem to be. -- Rodd Gnawkin Visit Cool Hand Uke's Lava Tube: http://www.oro.net/~dscanlan -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
The new economics
The Republicans are now the party of deficit promotion. Today the Wall Street Journal Outlook column says that the huge cuts required to balance state budgets will now make government more efficient. Good tidings are everywhere. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
productivity for information technology
Fortune magazine suggests that the productivity paradox is finished. Information technology is now lifting productivity by facilitating outsourcing jobs abroad. http://www.fortune.com/fortune/fastforward/0,15704,401035,00.html -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: protection rents.......
The US relented according to the Wall Street Journal. I suspect that there may be less to the relent than the US might be suggesting. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: muscular economics
Michael, I think that you would find that academic economists on average are pretty fit. The examples you give are exceptions. My own personal observations are that you will find a fairly high percentage of academics tend to spend some time running, swimming, playing racquet sports, etc. -- probably more than the average at their income bracket -- perhaps because they have more flexible schedules. On Sun, Dec 22, 2002 at 12:40:22AM -0500, Michael Pollak wrote: On Sat, 21 Dec 2002, Doug Henwood wrote: Krugman's latest says: The Washington Post reports that one of Mr. Bush's frequent complaints about Larry Lindsey was that he didn't get enough physical exercise. Yeah, and an earlier article said he looked jowly on TV. In other words, he's fat, but no one wanted to say that. Being fat is pretty much verboten at the upper reaches of U.S. society now. True, but I think Krugman's delicacy is better interpreted as an individual case. One of his very first columns for the NYT contained a right down the middle gratuituous fat joke about another recently departed administration economist. He wondered about alternative employment opportunities for Larry Summers and wondered aloud parethentically (Spokesman for Jenny Craig? Sorry, couldn't help myself). I think he's actually champing at the bit to make fun of fat economists, since all the rivals he's most envious of (like everyone who got a job in the Clinton administration) are chubbier than he is. (It may be rare among the ruling class, but I think roundness, if not always on a Lindsian scale, is actually more common that not among middle aged academic economists.) I think his allusiveness here stems from a very recent acquisition of a veneer rudimentary tactfulness for purposes of ambition. I think he really wants a job in the next Dem administration and thinks with the success of his column he's actually got a shot. He was reportedly very hurt that all his rivals got one in Clinton's but not him. And I heard the general opinion was that he was never even considered because all his colleagues hated his guts because he was such a rude bastard. And after that inaugural column they all jumped up and said See? Michael -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: The Economist considers Karl Marx
Peter Drucker proclaimed the United States the first truly 'Socialist' country, because workers, through their pension funds own at least 25% of its equity capital, which is more than enough for control. In Drucker's reckoning, socialism was introduced by then head of General Motors Charles Wilson in 1950 to blunt union militancy by making visible the workers' stake in company profits and company success. Drucker, Peter F. 1976. The Unseen Revolution: How Pension Fund Socialism Came to America (NY: Harper and Row): p. 6. On Fri, Dec 20, 2002 at 09:31:41AM -0800, Tom Walker wrote: Oh those proles, the lucky duckies: they own the companies, they tell the government what to do, they choose who rules... and they don't even have to pay taxes! -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
muscular economics
Krugman's latest says: The Washington Post reports that one of Mr. Bush's frequent complaints about Larry Lindsey was that he didn't get enough physical exercise. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
poor pay more
Tonak and Shaikh's work on the social wage might offer some guidelines on how one could theoretically go about evaluating who gets what from the government, but a full accounting would be all but impossible. We all believe that the military does more to protect the assets of the rich, but quantification would be difficult. Even so, I think that the idea of trying to quantify the benefit side alongside the tax side might be interesting. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: How Much Housing Credit Is Too Much?
The one factoid that struck me was: Since early 2001, outstanding residential mortgage debt has ballooned from an amount equal to 49.0 percent of GDP to a level ($6.2 trillion) equaling 59.0 percent of GDP. On Thu, Dec 19, 2002 at 02:41:34PM -0500, [EMAIL PROTECTED] wrote: New from the Financial Markets Center Flow of Funds Review Analysis: Q3 2002 As battered investors moved their funds out of stocks and into deposits, banks assumed the dominant role in a massive run-up of mortgage debt that has helped maintain economic growth. But if interest rates rise or housing prices correct, the price of this build-up could be steep for households, small businesses, institutional investors and others. Is residential real estate following the same path Nasdaq traced in the late '90s? And, if so, what should the Fed be doing about it? Get the details in Jane D'Arista's quarterly review of the Fed's financial statistics. http://www.fmcenter.org/pdf/flow12-02nocov.pdf -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: RE: Re: How Much Housing Credit Is Too Much?
We should ask Doug H., who is now on the radio. Even that number is cloudy since people refinance their houses to borrow for other purposes. So, it is difficult to get a fix on mortgage debt as a separate category, except in the sense that you mentioned -- if prices fall and people walk away from their negative equity. On Thu, Dec 19, 2002 at 02:02:56PM -0800, Devine, James wrote: but how much have mortgage payments risen as a percentage of personal disposable income? after all, interest rates have fallen and refinancing is the big trend these days. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Re: RE: Re: How Much Housing Credit Is Too Much?
The WSJ has been having pieces about the incentives sellers of high end houses are having to give. One of the best indicators of an impending bubble burst would be the length of time required for sell a house. During the high bubble in San Francsico, houses would sell at a premium as soon as they were listed. I don't think anything like that is happening now. So even if prices are holding, you can have considerable weakness in the market. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
rational expectations and market efficiency
'THE GAME OF THE NAME' A study by a group of finance professors at Purdue University shows that companies that shed their dot-com names, or some other hip, New Economy variation like E*twoMEDIA, saw their share prices rise 15.8% the day the news hit the market and a total of 21.6% in the 30 days following the switch. I think we are very firmly stating investors are irrational, and here is one of their biases, says P. Raghavendra Rau, one of the study's authors. The group uncovered a number of companies that had played the dot-com game both ways -- adding it on a couple of years ago to get a boost, and then dropping it recently to get yet another boost. For example, the company formerly known as Publishing Co. of North America changed its name to Attorneys.com in 2000, a move that nearly doubled its share price. A year later, it dropped the dot-com moniker for the more conventional 1-800-Attorney, netting another 40% surge in stock prices. The full study, titled The Game of the Name: Valuation Effects of Name Changes in a Market Downturn, can be found at www.mgmt.purdue.edu/faculty/rau. (Wall Street Journal 18 Dec 2002) http://online.wsj.com/article/0,,SB1040163285667930633.djm,00.html (sub req'd) The paper seems to be at mailbox:/C|/Program Files/Netscape/Users/michael/mail/Inbox?id=BORISf4yp8ARf3sllNY0077%40boris.mgmt.purdue.edunumber=6223492part=1.2 The paper -- Michael Perelman Economics Department California State University [EMAIL PROTECTED] Chico, CA 95929 530-898-5321 fax 530-898-5901
job opening
Do any of you find these job notices useful or am I just taking up bandwidth? The Department of Economics at Skidmore College invites applications for a one-year position for the 2003-04 academic year. This position may be renewed for a second year depending upon Departmental needs. Skidmore College is an undergraduate institution whose faculty are committed to a strong teacher-scholar model with an interdisciplinary emphasis both in the classroom and in their research. The Department is looking for someone who has a proven record of teaching effectiveness and who can teach courses at all levels in our curriculum. Please send a letter of application addressing your interest in teaching in an undergraduate, liberal-arts environment,(2) a curriculum vitae; (3) a writing sample; and (4) at least two letters of reference. Women and minorities are encouraged strongly to apply. All inquiries should be addressed to Roy J. Rotheim, Chairperson, Department of Economics, Skidmore College, Saratoga Springs, NY 12866; email: [EMAIL PROTECTED] Candidates might want to visit the College's website at http://www.skidmore.edu/ -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Bush Administration On The Poor: Pay More Taxes!
Besides the obvious importance of this article, it is a useful reminder about how the Right wins its war of ideas. Total nonsense, repeated over and over finally becomes conventional wisdom. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Military Keynesianism to the rescue
I have been ringing recently about the new WiFi technology that threatens the wireless industry, which is already burdened with overcapacity. Just today, the New York Times reports that the defense industry has discovered that this technology interferes with vital radar capacity. -- Michael Perelman Economics Department California State University [EMAIL PROTECTED] Chico, CA 95929 530-898-5321 fax 530-898-5901
Re: Re: Re: FW: housing bubble?
I don't think that construction costs have a great deal to do with inflation in housing prices. As Schiller says, location, location, location: land prices have been soaring in the booming areas. For that reason, a good deal of increase in our population has come from people who sell their property in Southern California and move up here to take advantage of cheaper property values. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: FW: today's papers: US agit-prop
worse yet, NPR has been touting the wonderful work of the propagandists. On Mon, Dec 16, 2002 at 08:51:55AM -0800, Devine, James wrote: from SLATE: The NY [TIMES] goes high with a leak that the Pentagon is considering expanding its propaganda efforts--what's known in Pentagonese as psychological operations, or psy-ops--to friendly nations. We have the assets and the capabilities and the training to go into friendly and neutral nations to influence public opinion, said one unnamed officer. We could do it and get away with it. That doesn't mean we should. Trying to give a sense of what the proposed propaganda policy might entail, the Times says there are suggestions that the military might pay journalists to write stories favorable to American policies or hire outside contractors without obvious ties to the Pentagon to organize rallies in support of American policies. ... so all you folks in what we USers call friendly nations should get ready. Jim -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
us coup plot in Venezuela
http://www.vheadline.com/0212/14248.asp Does anybody know about this??? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Fw: economists and free riding behavior...
The original reference is Frank, Robert H., Thomas Gilovich, and Dennis T. Regan. 1993. Does Studying Economics Inhibit Cooperation? Journal of Economic Perspectives, 7: 2 (Spring): pp. 159-72. On Fri, Dec 13, 2002 at 12:42:57PM -0500, Ann Li wrote: -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Re: A NYC transit strike?
This seems utterly unprovoked. Please, let's not stir things up. On Fri, Dec 13, 2002 at 02:53:50PM -0500, Louis Proyect wrote: I thought you were going to put me in a kill-file. Do you need help with setting up .procmail to put [EMAIL PROTECTED] into a killfile? I can also help you figure out how to change the LBO-Archives heading so that they display the current month. Doug Henwood wrote: Louis Proyect wrote: In prior elections, the New Directions candidate was Tim Schermerhorn who was an open socialist Not exactly. Even though he's listed on the Against the Current masthead, I was rebuked by a Solidary member for having described Tim S as a Marxist on lbo-talk. This was perceived as indiscreet and unwise. Doug . -- The Marxism list: www.marxmail.org -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Win Without War
I agree with Lou that groups like this will not organize demos, but unless they actively attack the left, their presence will help to move public opinion in the right direction. But then, I see the name of the Sierra Club that supports Bush and is punishing a Utah local for opposing the war. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: war against Iraq update
Also, Saddam does not control the North. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
forwarded from Kendall Clark on Lott
I don't understand this graceful accomodation line. I haven't found any mea culpas or apologies from Thurmond. His having hired an African American aide isn't particularly telling (segregationists were always perfectly happy to employ black subordinates; and if the stories about Thurmond are true, his brand of racism was perfectly consonant with sexual intimacy with blacks), nor is the fact that he took till 1982 to vote for a civil rights bill. When did this accomodation take root? Was it sudden or gradual? How is it to be distinguished from Thurmond simply learning a new vocabulary with which to preserve as far as possible the racially unjust status quo? I've spent a good deal of time looking for a copy of Thurmond's 1948 acceptance speech; it doesn't appear on the web anywhere, near as I can tell, nor is it Vital Speeches of the Day or in other reference works. I finally had Clemson University's Strom Thurmond Institute (gag!) fax me a copy from their special collections area. I'd like to get a better feel for what Trent Lott is waxing nostalgic for -- the States Rights Party platform of 1948 (on SmokingGun.com) was singularly opposed to integration and interested in nothing else. Kendall Clark, Editor, http://www.whiteprivilege.com/ -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Job opening
An Associate Lectureship (3 year contract) and two Lectureships (continuing) in the School of Policy (formerly Department of Economics) were advertised in the Australian last Wednesday (4/12). One of the lectureships commences on July 1 2003 and the other two positions can be filled as early as February 1 2003. The closing date for applications is Wednesday January 8. Further information can be obtained from the website: http://www.newcastle.edu.au/services/employment/adv/a323_02.htm Interested parties can also contact the Head of School, Associate Professor Martin Watts. [EMAIL PROTECTED] Martin J. Watts Associate Professor of Economics Head, School of Policy Faculty of Business and Law Deputy Director Centre of Full Employment and Equity (CofFEE) The University of Newcastle NSW 2308 Australia [EMAIL PROTECTED] http://e1.newcastle.edu.au/coffee/ Phone (61)2 4921-5069 (Work) Fax (61)2 4921-6919 (Work) Fax (61)2 4981-8124 (Home) Mobile: 0 414 966 751 - End forwarded message - -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Trent Lott, not the first time
Here are the exact words: The real story here is that in ultimately accommodating himself as gracefully to integration as he did, Strom Thurmond made it easier for others to follow. We wish we could say the same for Mr. Lott . -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Trent Lott, not the first time
Yesterday, the WSJ editorial said that Strom had progressed since 1948, and they hoped that Lott would also. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Robert Manning
Is Robert Manning here? Sorry to bother the list. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: pension reform
Earlier, which we discussed the probabilities of the Republicans overreaching themselves. Expectations within their base have to be high. The pie, if not shrinking, is at least a growing very fast. They have to be able to satisfy their social activists and their business interests. To do either, will alienate a great deal of support. Pension reform is an excellent example. It offers a quick fix to increase profits for a number of companies, but it does so not through growth, but by taking away from people who will certainly hold the Republicans responsible. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Blowback
I have been thinking about the horrendous cost of the U.S. support for Israel. Does anybody believe that Israel would exist except for the Nazis? In effect, the Middle East Holocaust is a continuation of the original one. I assume all sorts of unimaginable consequences will flow out of the attempt to remake the Middle East. I wonder if anyone in power gives any thought whatsoever to long-term consequences. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
hilarious -- State GOP chief seeks to punish big business
California is supposed to be a trend-setter. The head of the party wants to undo corporate tax breaks. http://www.sacbee.com/content/politics/ca/story/5536064p-6514941c.html -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: United Airlines and market socialism
seat on the company board of directors. Workers paid for their stock by handing over more than $5 billion in concessions and agreeing to other cost-cutting measures, such as the replacement of some unionized jobs with contract employees. The buyout agreement created a low-cost subsidiary, United Shuttle, where workers are paid at a rate 30 percent below Southwest Airlines, United's major short-haul competitor. In a letter to the United Airlines board of directors filed with the Security and Exchange Commission, the Air Line Pilots Association and the International Association of Machinists declared, We believe that our plan will catapult the company light-years ahead of its competitors by enabling it to serve the global community more flexibly and efficiently than any other major American carrier and to compete head to head with 'low-cost carriers' in the short-haul marketplace. full: http://www.wsws.org/correspo/1998/may1998/sj-m5.shtml -- The Marxism list: www.marxmail.org __ Do you Yahoo!? Yahoo! Mail Plus - Powerful. Affordable. Sign up now. http://mailplus.yahoo.com -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Re: Re: United Airlines and market socialism
Let's not rehash that one. On Mon, Dec 09, 2002 at 10:36:39AM -0600, Carrol Cox wrote: I don't believe market socialism would work, -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Re: : United Airlines and market socialism
Andie joined some time ago, well before the post in question. On Mon, Dec 09, 2002 at 11:01:19AM -0800, andie nachgeborenen wrote: If I knew you had rejoined PEN-L in order to find some pretext to defend Market Socialism, I never would have posted that. I am bending over backwards to keep Michael Perelman happy by not provoking certain people any more. I can certainly add you to the list. Please do. And you needn't speculate about my motives for rejoining PEN-L. Engaging in fruitless discussion with you was not high on my list of reasons. Matzel tov. jks __ Do you Yahoo!? Yahoo! Mail Plus - Powerful. Affordable. Sign up now. http://mailplus.yahoo.com -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: discussion about quotes from CAPITAL
Russel Long got the idea of ESOPs from Louis Kelso, who wrote something with a title like Capitalist Manfesto. ESOPs were never intended to be socialist. As Joel mentioned, they have usually been used to prop up lemons, although some employers used it for the tax benefits. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: about some quotes from CAPITAL
let's play nice. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: about some quotes from CAPITAL
I very much appreciate the way that Lou has volunteered to refrain from posting material that would threaten to set off predictable responses. I think that the list has benefited from his being selective in his posts. I have a different suggestion. Many of us write fairly predictable posts, often making points that have been made before. Those posts lead to what Lou noted a does so does not thread. Market socialism, Stalin, all point in the direction of an infinite loop. Louis Proyect wrote: I've got an alternative suggestion. Tell Devine not to respond to anything I write. I never respond to him. I already promised you that I would lay off Negri, Marc Cooper and Zizek just to keep Henwood happy. Why can't you tell Devine (and Cox while you are at it) just to ignore me. I've been on email lists with these characters for the better part of a decade and it is pretty obvious that we have nothing productive to say to each other. Louis Proyect, Marxism mailing list: http://www.marxmail.org -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: O'Neill and sectors of capitalism
Doug, don't forget a massive deregulation drive to stimulate the economy. I presume that such an effort will accompany the tax cuts. On Sun, Dec 08, 2002 at 11:25:29AM -0500, Doug Henwood wrote: Chris Burford wrote: Doug, these may be fiddly questions and things can get too detailed, but the present abrupt dismissal of O'Neill suggests a lightening flash in a looming storm, at least as far as Bush is concerned. W is worried that he'll suffer the same fate as his father - popular war president who loses re-election because the economy sucked. He wants to project concern about the economy, and what better way to do that than with a headline-grabbing shakeup? But as for policy - well it looks like more tax cuts for the upscale, and that's about it. Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Neill goes, Bono stays
Her father was Herbert Walker, Prescott's partner. On Sun, Dec 08, 2002 at 05:14:17PM -0600, Carrol Cox wrote: Eugene Coyle wrote: The Bush money (maternal as well) I've never seen anything on Barbara Bush's family. What was her maiden name? What Wall St. connections did that family have? Carrol -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Interesting Wall Street Journal trend???
In the last two issues of the Wall Street Journal, there are 3 interesting critical articles. 1 trashes the Huber and Mills argument that the Internet is responsible for much of the total energy demands. Another trashes the Bushies for replacing their scientific advisory panels with industry hacks. Finally another discussing how successful customers are contributing money to a failing Japanese bank out of gratitude for its earlier support, while the bank continues to support troubled customers. I think that Doug posted an article a few days ago to LBO recounting how angry employees are regarding austerity moves at the paper. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
URPE web site
To URPE Members and Friends, www.URPE.org The URPE website has grown by leaps and bounds in the last year or so, so if you haven't looked at it lately, you might want to. You will find lots of information about: JOB LISTINGS If you have a job to announce on the web, send it to webmaster Al Campbell at [EMAIL PROTECTED] CONFERENCE ANNOUNCEMENTS AND CALLS FOR PAPERS Summer Conference, ASSA, and many other conferences REVIEW OF RADICAL POLITICAL ECONOMICS Description, tables of contents, calls for papers for URPE's journal URPE NEWSLETTER Organizational information for URPE members, plus articles on current topics, research, book reviews ECONOMY CONNECTION (URPE's speaker/resource bureau -- what we do, special projects, how to contact us) URPE's READER Political Economy and Contemporary Capitalism: Radical Perspectives on Economic Theory and Policy As well as links, brochures to download, how to join URPE, and other interesting information. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Bush's Fire Plan Won't Work
Sabri is severely reprimanded for cavorting with Cato types the same day that he posts Mike Rupper's column. Ruppert is a conspiracy theorist. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: FW: today's papers: Crash Landing?
The employees gave serious wage concessions -- not the flight attendants -- for half ownership, but they lacked any control over management -- big mistake. On Thu, Dec 05, 2002 at 10:05:04AM -0800, Dan Scanlan wrote: does anyone know what UAL's business plan was? what was wrong with it? it didn't call for enough wage cuts? Another question: What is the gov't's agendda. Wasn't United Airlines taken over by its employees in a previous fianancial scramble? Or was that another airline? Dan Scanlan -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
applied cost benefit analysis
Note that they pay modest fines compared to what revealing the information might cost. Very intelligent economic behavior. FIRMS FINED FOR NOT FOLLOWING E-MAIL RETENTION SCHEDULE The Securities and Exchange Commission has fined five major brokerage firms (Deutsche Bank, Goldman Sachs, Morgan Stanley, Salomon Smith Barney, and U.S. Bancorp Piper Jaffray) $1.65 million each for failing to keep employee e-mail for the required retention period. The SEC examines such mail to find cases in which brokers have rated stocks positively and given it a buy recommendation to the public, while in private correspondence revealed complete contempt for the same stock. The commission says, The record-keeping rules are a keystone of the surveillance of brokers and dealers by commission staff and the security industry's self-regulatory bodies. (San Jose Mercury News 4 Dec 2002) http://www.siliconvalley.com/mld/siliconvalley/4661957.htm -- Michael Perelman Economics Department California State University [EMAIL PROTECTED] Chico, CA 95929 530-898-5321 fax 530-898-5901
Re: Re: Re: FW: today's papers: Crash Landing?
The gov't won't support the airlines without a concommitant smashing of the unions, which is likely to have an effect on wages throughout the economy, except for full professors at minor colleges. On Thu, Dec 05, 2002 at 10:17:53AM -0800, Eugene Coyle wrote: Employees got (or now have) around 55% of the shares -- soon to be worth little, in that previous bailout. They also got three seats on the Board. Yeah, you have to wonder what the govt agenda is. Previously (last year?) they turned down the attempted merger of United with another big carrier. Also turned down the merger of Northwest and Continental. If the industry stays unregulated -- and the Bushies won't go back to regulating anything -- then they have to permit a tighter oligopoly. They are in internal conflict -- interesting to watch. Gene Coyle Dan Scanlan wrote: does anyone know what UAL's business plan was? what was wrong with it? it didn't call for enough wage cuts? Another question: What is the gov't's agendda. Wasn't United Airlines taken over by its employees in a previous fianancial scramble? Or was that another airline? Dan Scanlan -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: China: worker ownership...
This article makes China sound like the USSR in slow motion. On Wed, Dec 04, 2002 at 06:27:13PM -0800, Ian Murray wrote: Workers in China Fail As Owners of Factories Managers, Investors Are Taking Over By Philip P. Pan Washington Post Foreign Service Wednesday, December 4, 2002; Page A01 DAYE, China -- It was a deal that reflected China's socialist past as well as its capitalist future. The Jing Wine Factory, property of the state for nearly half a century, was sold to its workers, 700 men and women who were given shares of stock - and a chance to save their company. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Damn Marxist Economists Again
The punch line comes at the end. Capitalist Politicians, Socialist Bureaucrats? Legends of Government Planning from Japan Antitrust Bulletin, Forthcoming BY: YOSHIRO MIWA University of Tokyo J. MARK RAMSEYER Harvard Law School Document: Available from the SSRN Electronic Paper Collection: http://papers.ssrn.com/paper.taf?abstract_id=349341 Other Electronic Document Delivery: http://www.law.harvard.edu/programs/olin_center/ SSRN only offers technical support for papers downloaded from the SSRN Electronic Paper Collection location. When URLs wrap, you must copy and paste them into your browser eliminating all spaces. Paper ID: Harvard Law and Economics Discussion Paper No. 385 Contact: J. MARK RAMSEYER Email: Mailto:[EMAIL PROTECTED] Postal: Harvard Law School 1575 Massachusetts Avenue Cambridge, MA 02138 UNITED STATES Phone: 617-496-4878 Fax: 617-496-6118 Co-Auth: YOSHIRO MIWA Email: Mailto:[EMAIL PROTECTED] Postal: University of Tokyo 7-3-1 Hongo, Bunkyo-ku Tokyo 113-0033,JAPAN ABSTRACT: The debate over the role bureaucrats played in the postwar Japanese economy has been the wrong debate. To date, it has been a debate about effectiveness: the government tried to promote growth through interventionist policies, but did it succeed? In fact, the government never tried. Majority voters did not want interventionist bureaucrats, and consistently rejected communist and socialist candidates offering interventionist approaches. Instead, they chose candidates from the centrist, decidedly non-interventionist party. Reflecting those electoral market exigencies, politicians in power seldom gave their bureaucrats the authority to alter market investment and production decisions. To explore these issues, we first investigate the tools Japanese politicians gave their bureaucrats. We find that bureaucrats lacked the mechanisms they would have needed to shape significantly production or investment. Second, we reexamine the central anecdote behind the legend of Japanese bureaucratic power: the 1965 showdown between Sumitomo Metals and MITI. We find that Sumitomo rather than MITI won the battle. Last, we survey the case law on bureaucratic power, and find that Japanese courts strictly restricted bureaucratic discretion. There is a broader moral here, and it goes to the perils of relying on secondary research. For obvious reasons, Japanese politicians and bureaucrats encouraged stories that disguised ordinary pork-barrel policies as growth-enhancing intervention. Although the tales they told differed little from the self-serving accounts politicians tell everywhere, in the 1960s most Japanese social scientists were Marxists. Understandably, they had little sense of how markets worked, and no skepticism at all about the powers of governments to plan. Yet it is their accounts on which modern observers rely for their picture of the postwar Japanese political economy. Had modern scholars done more than recount the conclusions in the secondary literature, they would have noticed that they were merely adding academic gloss to political sloganeering. Unfortunately, they never tried. -- Michael Perelman Economics Department California State University [EMAIL PROTECTED] Chico, CA 95929 530-898-5321 fax 530-898-5901
Re: Re: Re: Re: Re: FW: today's papers: Crash Landing?
If United goes bankrupt, then it will have a decided edge on the rest of the industry. It will not have as heavy debts and the unions will be defanged. Other carriers will have to break their unions to compete. There will be fewer flights and more Valuejets. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Re: FW: today's papers: Crash Landing?
No. Southwest does not have unions, I believe, but they treat their workers well. On Thu, Dec 05, 2002 at 01:06:00PM -0600, Bill Lear wrote: On Thursday, December 5, 2002 at 10:57:29 (-0800) Michael Perelman writes: If United goes bankrupt, then it will have a decided edge on the rest of the industry. It will not have as heavy debts and the unions will be defanged. Other carriers will have to break their unions to compete. ... Southwest has unions and has been profitable each year of operation, with high employee and customer satisfaction, no? Bill -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
plus ca change
Bradsher, Keith. 1989. UAL Board to Consider Its Next Step. New York Times (23 October): p. D1. The 190 point fall in October 1987 may have been triggered by the announcement that financing for the takeover of United Airlines was not going to be forthcoming. In interviews last week, 13 arbitragers at 11 large brokerages and private companies described bouts of panic selling by takeover speculators eager to liquidate at any price because the deal had become to risky and because they needed money to repay debts. Some arbitragers said several small arbitrage -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
[soapbox@comcast.net: Teaching Position at John Jay]
Date: Thu, 05 Dec 2002 22:35:36 -0500 From: Ruth Indeck [EMAIL PROTECTED] Bcc: Subject: Teaching Position at John Jay To URPE Members and Friends From Joan Hoffman Address all questions to Joan at [EMAIL PROTECTED] * Fall 2003 Tenure track line at John Jay College of Criminal Justice (CUNY) in New York City (445 West 59th Street NYC 10019) teaching the following accounting courses: Cost Accounting Managerial Accounting Forensic Accounting Public Sector Accounting for Masters of Public Administration students With appropriate credentials teaching economics division courses such as White Collar Crime and Introductory Economics also possible. Majors in Security Management and in a Public Administration Inspector General program will be among interested students and examples in class would be usefully directed to that interest. Interview at December meeting possible. Contact Professor Joan Hoffman [EMAIL PROTECTED] - End forwarded message - -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
China: forwarded from Steve Philion
There is currently a television show running called The Party Secretary (Dang Wei Shuji). This is a soap opera and it is all about how a party secretary deals with strikes in the work-place. The hero (the party secretary) upholds the interests of the private capitalists as long as they follow the law. The villain eventually works in a state owned enterprise and tries to use corrupt means to become rich. The director puts classic statements of capitalist ideology into the mouth of the party secretary. For example, in one episode a striking worker asks him why is it that the capitalist makes so much more than we do? The party secretary responds This is because the capitalist takes a risk. You can always go to another factory and work, but if the firm goes broke the capitalist is out of a job and his capital. And if that isn't enough, in another episode the secretary proclaims that working for the capitalist is working for socialism. Clearly they are trying to create a worker ideology that is somewhat similar to Japan (at least during the 80s) or the so-called East Asian model, in which workers sacrifice for the company and identify with the well-being of the company. The series had a number of Lei Feng's who give there savings to the capitalist when the firm is on the verge of bankruptcy. -- Michael Perelman Economics Department California State University [EMAIL PROTECTED] Chico, CA 95929 530-898-5321 fax 530-898-5901
Re: stranger than fiction?
I assume that he had no trouble finding real life examples at hand. On Wed, Dec 04, 2002 at 08:21:56PM -0800, Devine, James wrote: Is it strange that my twelve-year-old son is learning the word alienated in middle school? Jim -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Re: Maquiladoras not beneficial
Lou is correct on several points. Brad typically supports neo-liberal policies abroad and, at least to my mind, he is more often than not wrong. Also, the 3 people he mentioned did leave in disgust about Brad's behavior. I thought that it would have been healthier to have dialogued with Brad, but he often did behave arrogantly. I also agree with Doug's earlier post. Brad is a social democrat, albeit a fairly conservative one. He probably represents the extreme respectable left within the world of economics. In many ways, I regret Brad leaving. He is bright and very well informed about the world of economics, but once he got on his high horse, he could be infuriating. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Re: Re: Re: Maquiladoras not beneficial
Dialogue requires a certain degree of courtesy that was often absent from his posts. On Tue, Dec 03, 2002 at 02:22:32PM -0500, Doug Henwood wrote: Michael Perelman wrote: Lou is correct on several points. Brad typically supports neo-liberal policies abroad and, at least to my mind, he is more often than not wrong. Also, the 3 people he mentioned did leave in disgust about Brad's behavior. I thought that it would have been healthier to have dialogued with Brad, but he often did behave arrogantly. True enough, but it's an odd model of dialogue that will admit only people in fundamental agreement with each other. I guess it's the left version of Richard Feinberg's wonderful comment that democracy only works when there's fundamental agreement on the nature of property. Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Chomsky
I thought that Jim, Thiago, and Max answered Steve quite well. Chomsky was not concerned about defending Cambodia, only trying to show the hypocracy of the US. Once in France, I saw a very interesting Yugoslavian documentary on Cambodia. It made the case that Pol Pot had to move the people out of the cities in order to avoid starvation. It did not defend the massacres, nor would anyone on this list. To say that Iraq before the Gulf War had some success in developing health and education does not make someone a supporter of SH. All too often in political discourse to say a positive word about any of today's demons, makes one an agent of the devil. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Maquiladoras not beneficial
What Louis quoted is true. What you may have seen is that the maq. wages are higher than the prevailing wage, since manufacturing jobs are scarce relative to the total job market. On Mon, Dec 02, 2002 at 10:22:17AM -0800, Bill Burgess wrote: At 01:04 PM 12/2/2002 -0500, Louis quoted: Maquiladora workers receive wages considerably below those paid to non-maquiladora manufacturing workers. What is it about the stats I've seen quoted by bourgeois economists that makes it possible for them to represent the opposite as true? Bill -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Jacoby versus Chomsky
Jacoby has written very interesting material, but it seems to have some left, some right threads. He came to Chico last year. We had a very nice talk until I questioned something about his work. He has been associated with Telos -- at least he participated in the Telos conference held here. Right now, to agree with Chomsky in public is tantamont to voluntary ostracism. Somehow, the right has succeeded in morphing him into the voice of ObL. In the face of such distortions, he continues to display great integrety. On Mon, Dec 02, 2002 at 11:30:40AM -0800, Ian Murray wrote: - Original Message - From: Louis Proyect [EMAIL PROTECTED] Russell Jacoby is a history professor at UCLA who has joined the ranks of the Chomsky bashers in the bourgeois press, alongside Michael Berube and other scoundrels. I suspect that he is now polishing up a piece on Ramsey Clark and the Workers World Party for the Wall Street Journal editorial page. That's how you launch a career path as a professional red-baiter in the Year of our Lord 2002. == Chalk it up as part and parcel of the positional goods problem of intellectual competition in an anti-intellectual culture. Ian -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Maquiladoras not beneficial
Also, many of the maq's are shutting down as contractors flee to China and other low cost labor. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Housing Bubble?
Ellen, some areas of the housing market are defaulting. For example, Hallinan, Joseph T. and Mitchell Pacelle. 2002. Conseco's Mobile-Home Mess Has Tenant: Lehman Brothers. Wall Street Journal (25 November): p. C 1. Conseco as 19,000 repossessed mobile homes from bad loans. What percentage of these home loans are variable interest? On Mon, Dec 02, 2002 at 01:42:22PM -0500, Ellen Frank wrote: Here in Boston, where prices have nearly tripled over the past 5 years, my impression is that housing demand is coming mostly from owner- occupiers. This is in contrast to the bubble of the late 1980s, when absentee-investors were buying, renting, then flipping condos like crazy. Owner-occupiers are far less likely than absentee-investors to walk away from a property if they have financial difficulties. Also, this boom -- again at least in Boston, often cited as the city most likely to be in a real estate bubble -- hasn't been accompanied by the massive condo developments that forced banks, in 1990 -1992, to dump tons of foreclosed properties onto an already weak market. So I'm not convinced the bubble will burst. On the other hand, I can't figure out where the incomes are coming from to support these $500,000 mortgages. Ellen [EMAIL PROTECTED] writes: Sabri Oncu wrote: Do you have any hard data supporting or refuting the bursting of a housing bubble in the area? Or do you thiink this is just a normal drop in a period of economic hardship? Most U.S. housing indicators have been strong. New house sales fell in Oct, but they'd been rising since February, and are still over 1m units at an annual rate. Existing house sales rose strongly in Oct, and are well above June levels. Builder indexes are strong, and so is mortgage demand. There's talk of saggy prices, like what you recount, but the normally cyclical housing market held up very well during the recession. This will either be vindicated by a broader recovery soon, or it could be a remaining unpopped bubble (like the dollar). Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: eternal war for eternal peace update
Of course, since we will never know if we have exterminated the final terrorist, the war must continue forever. On Mon, Dec 02, 2002 at 06:21:13PM -0800, Ian Murray wrote: [momentarily escaped from his double super secret bunker] In the terrorists, however, we have enemies who have nothing to defend. A group like the al Qaeda cannot be deterred or placated or reasoned with at a conference table. For this reason the war against terror will not end in a treaty. There will be no summit meeting or negotiations with terrorists. The conflict can only end with their complete and utter destruction and a victory for the United States and the cause of freedom. [Dick Cheney] http://www.washingtonpost.com/wp-dyn/articles/A64522-2002Dec2.html -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Turkey: No to imperialist aggression. No to war.
My God, the US papers give more space to Turkish antiwar demos. than the bigger ones here. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: RE: George Soros, Imperial Wizard
Steve, I took the title from the article. It was cute, but I don't believe that anybody on this list would think that the article really suggested that he had any sympathy for the KKK. Devine, James wrote: while this is a good debunking of Soro's humanitarian pretensions, it leans heavily toward conspiracy-theory thinking. I am sure the guy worked -- and works -- with the CIA, but a materialist analysis would look for the internal contradictions of the old Soviet-type mode of production that allowed Soros and the CIA to be so effective in dismantling bureaucratic socialism. After all, the Soviets had their own secret interventions into the so-called West that didn't have cause capitalism to fall apart. How is it that the Soros-style seduction of the Eastern elites was so successful? While it's likely that the CIA sent a lot of funds to Poland's Solidarity movement, it would be a mistake to see its origins as simply a CIA or CIA/Soros plot, as is suggested by the phrase CIA-funded Solidarity operation below. I would look instead to the failures of the planned economy (the equivalent of capitalism's crises) and to the class antagonisms in Poland, along with the traditional antagonism of the Poles toward the Russians. In 1980, Soros began to use his millions to attack socialism in Eastern Europe. He financed individuals who would cooperate with him. His first success was in Hungary. He took over the Hungarian educational and cultural establishment, incapacitating socialist institutions throughout the country. He made his way right inside the Hungarian government. Soros next moved on to Poland, aiding the CIA-funded Solidarity operation and in that same year, he became active in China. The USSR came next. It is not coincidental that the Central Intelligence Agency had operations in all of those countries. The goal of the Agency was exactly the same as that of the Open Society Fund: to dismantle socialism. In South Africa, the CIA sought out dissidents who were anticommunist. In Hungary, Poland and the USSR, the CIA, with overt intervention from the National Endowment for Democracy, the AFL-CIO, USAID and other institutions, supported and organized anticommunists, the very type of individuals recruited by Soros' Open Society Fund. The CIA would have called them assets. As Soros said, In each country I identified a group of people - some leading personalities, others less well known - who share my belief...16 Soros' Open Society organized conferences with anticommunist Czechs, Serbs, Romanians, Hungarians, Croatians, Bosnians, Kosovars. 17 His ever-expanding influence gave rise to suspicions that he was operating as part of the U.S. intelligence complex. In 1989, the Washington Post reported charges first made in 1987 by the Chinese government officials that Soros' Fund for the Reform and Opening of China had CIA connections. 18 BTW, the phrase Imperial Wizard is cute, but is there any evidence that Soros likes the KKK? Jim -- Michael Perelman Economics Department California State University [EMAIL PROTECTED] Chico, CA 95929 530-898-5321 fax 530-898-5901
Anti-weapons: Russian Scientists Threaten to Halt Space War
coordinate system, as well as the speed and height of displacement. But the higher-tech the weapon, the more easily it can be suppressed. Western scientists have generally forgotten how to think; the computer is supposed to think for them. Stealth Armor Covers the Whole Country It should be noted that during the NATO bombing of Yugoslavia, the Russian scientist sent Brussels a description of the anti-weapon against the NAVSTAR GPS system, warning that if they did not cease their outrages, he would publish methods for rubbing out other navigational systems as well, for example TACAN, DME, LORAN, etc. And these means enormous losses for the West. It has been calculated that because of Kashinov's mini-jammers, which virtually put the NAVSTAR system out of commission, the Americans lost 80 billion dollars and 20 years of work by their scientists. According to available information, today they are trying to develop a new system, since the GPS system cannot be improved, and this will require time and money. So the US will hardly be able to develop an ABM system with guaranteed effectiveness. You see, the arsenal of anti-weapons includes devices which create short, or as they are called, nanosecond pulses of electromagnetic radiation of enormous power, exceeding the power of a nuclear burst. When they act on modern high-tech microcircuits (transistor diameter less than the thickness of a human hair), in the best case these emissions create system glitches, and in the worst case they put the microcircuits out of commission. Naturally, the weapon controlled by the computer which is destroyed by the pulse is also knocked out, be it a missile, ship, or tank. Portable space navigational system jammers produced by a Russian company were first displayed at the Moscow International Aerospace Show in 1997, provoking genuine shock and horror among military users of these navigation systems. Of course, as they say, it is impossible to shut down America, and this is the normal course of the rivalry between armor and projectile. But today Russian armor can reliably protect, for some time, any country which desires it. Copyright Vladimir Bogdanov 2002. For fair use only/ pour usage équitable seulement. The URL of this article is: http://globalresearch.ca/articles/BOG211A.html -- Michael Perelman Economics Department California State University [EMAIL PROTECTED] Chico, CA 95929 530-898-5321 fax 530-898-5901
Otto Reich at work
I was just listening to a Flashpoints (KPFA) interview with a reporter who lives in Haiti. He was describing a demonstration in front of the presidential palace in Port-au-Prince. He said that the U.S. press reported that the crowd was shouting slogans in favor of bin Laden, yet he heard not a single word in favor of bin Laden. -- Michael Perelman Economics Department California State University [EMAIL PROTECTED] Chico, CA 95929 530-898-5321 fax 530-898-5901
George Soros, Imperial Wizard
, Imperialism and NGOs in Latin America, Monthly Review, vol. 49, no. 7, December 1997. 49. International Security Studies, Herbert Okun, www.yale.edu/iss/peopleadvisoryboard1. 50. Leonard. 51. Edward W. Miller, Brigandage, Coastal Post Monthly, Mann County, CA, September 2000. 52. Mirjan Nadrljanski, Eco-Disaster in Pancevo: Consequences on the Health of the Population, July 19, 1999, www.gci.ch/GreenCrossPrograms/legacy/yugoslavia/Nadrljanski.html 53. Soros Fund Launches $150 MIn U.S.Backed Balkans Investment, Bloomberg Business News, July 26, 2000; Chris Hedges, Below It All in Kosovo, New York limes, July 8,1998, p. A4. 54. Galina Sabeva, Soros Sofia IT Firm Gets $9 Million Equity Investment, Reuters, January 23, 2001. 55. On Plan Colombia see: Manuel Salgado Tamayo, The Geostrategy of Plan Colombia CovertAction Quarterly no. 71, Winter 2001. 56. Colombia: Human Rights Watch Testifies Before the Senate, Human Rights Watch Backgrounder, April 24, 2002, http://www.hrw.org/backgrounder/americas/colombia-testimony0424.htm. 57. Colombia: Bush/Pastrana Meeting, HRW World Report 2001, Human Rights News (New York, November 6, 2001). 58. Fairness and Accuracy in Reporting, Action Alert, New York limes Covering for Colombian Death Squads, February 9, 2001. 59. Doug Stokes Colombia Primer QA on the Conflict and U.S. Role, April 16, 2002. Znet, http://www.zmag.org/content/Colombia/stokes_col-primer.cfm. 60. Interpress Service, January 18, 1995. For additional background see Jane Regan, AIDing U.S. Interests In Haiti, CovertAction Quarterly no. 51, Winter 1994-95; and Noam Chomsky, Haiti, The Uncivil Society, CovertAction Quarterly no. 57, Summer 1996. 61. Sam Tucker, Human Rights Watch, www.webactive.com/webactive/sotw/hrw. 62. John Kenneth Knaus, Orphans of the Cold War (New York, BBS Public Affairs 1999), p. 236. 63. Elisabeth Rosenthal, Defiant Chinese Muslims Keep Their Own Time, New York limes, November 19, 2000, p. 3. 64. Jonathan Reynolds (pseudonym), The Clandestine Chef, New York Times Magazine, December 3, 2000. 65. Lessons of War, Le Monde Diplomatique, March 2000; Peter Phillips, Untold Stories of U.S./NATOs War and Media Complacency, http://www.converge.org.nz/pma/suntold.htm 66. Marc W. Herold, A Dossier on Civilian Victims of United States Aerial Bombing of Afghanistan: A Comprehensive Accounting, www.ratical.org/ratville/CAH/civiDeaths.html 67. Rape as a crime against humanity, www.haverford.edu/relg/sells/rape.html 68. Improving the Public Diplomacy Campaign in the War Against Terrorism, Independent Task Force on Americas Response to Terrorism, Council on Foreign Relations, November 6, 2001. 69. William Greider, Curious George Talks the Market, The Nation, February 15, 1999. 70. Oppose John Boltons Nomination as State Departments Arms Control Leader, Council for a Livable World , April 11, 2001, http://www.clw.org/bush/opposebolton.html 71. Ibid. 72. Greider. 73. The Dictatorship of Financial Capital, Federation of Social and Educational Assistance (FASE), Brazil, 2002, www.fase.org.br ABOUT THE AUTHOR Heather Cottin is a writer, lifelong political activist, and recently retired high school history teacher She lives in Free port, NY and was for many years married to the late scholar and activist Sean Gervasi. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Bush, moron?
. When he tries to talk about what this country stands for, or about democracy, he can't do it, he said. This, then, is why he's so closely watched by his handlers, Miller says not because he'll say something stupid, but because he'll overindulge in the language of violence and punishment at which he excels. He's a very angry guy, a hostile guy. He's much like Nixon. So they're very, very careful to choreograph every move he makes. They don't want him anywhere near protestors, because he would lose his temper. Miller, without question, is a man with a mission and laughter isn't it. I call him the feel bad president, because he's all about punishment and death, he said. It would be a grave mistake to just play him for laughs. Copyright 1996-2002. Toronto Star Newspapers Limited -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Bush, moron? ref # 32618
I don't think that calling Bush a pyschopath is accusing him of having a disability. I just ordered an article which says that psychopathology is common within the executive suites. It describes them as cold and charming. If this article is correct, psychopathology may be associated positively with what markets call ability, not disability. Babiak, P. 1995. When Psychopaths Go to Work. International Journal of Applied Psycholology, 44: pp. 171-188. Of course, I am way over my head here with virtually no knowledge of the subject. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Why Isn't the Fed's Medicine Working?
This is an excellent piece of analysis. Your group does great work, but I rarely see it acknowledged. Is it because the big fish do not give you credit for the stuff that they take? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: the Krugman advantage
The article was excellent. I am delighted that he is bashing the right, just as I am saddened by the recent recruits to the right that we have discussed earlier. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
tax cuts/fiscal policy
Why aren't the Democrats complaining about the tax cuts more loudly? Are they trying to ensure a crushing defeat in 2004? There's going to be a serious negative fiscal crunch this year. California alone expects a $21 billion deficit -- assuming that the economy doesn't decline. Congress is going to be cutting all sorts of programs, leading states to pick up the slack. Cutting domestic programs while increasing spending for military adventures is hardly likely to have a neutral effect. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
More on the privatization of information
be calculated. Do they include the cost of copies for the depository library program? If the GPO no longer catalogs the documents, what centralized inventory database will replace this activity and what will that cost? What administrative costs will be incurred in a decentralized printing system? If all costs are considered, how much money will be saved? The implications and possible consequences of the OMB proposal go beyond procurement. Decentralized printing and dissemination of government information will make information inaccessible and more difficult to obtain. If the GPO does not have copies of printed and electronic publications, it cannot catalog these materials, disseminate them, or let people know they exist. If publications are not submitted to the GPO, information discovery will become far more costly for users. People will be forced to search many sites to find needed information. Julia Wallace, a librarian at the University of Minnesota, expressed concern about fugitive documents in her JCP testimony. There is no question that the OMB memorandum will result in more fugitive government publications. Despite the requirements for agency dissemination in Title 44, it has been estimated that 50 percent of the govemment publications that executive branch agencies print today are fugitive. These publications are not available to GPO for cataloging and distribution. People are denied access because they have no easy way to find out about the existence of documents. Over the years the JCP has granted waivers and exceptions to the provisions of Title 44, permitting some agencies to print their documents. Francis J. Buckley, Superintendent of Documents, said he does not believe that publications produced under the proposed policy change will reach distribution to the depository libraries. This is based on his experience with the poor performance in this area by agencies with JCP waivers. While fugitive documents are a serious issue, the implications of the proposed policy are more dangerous and threatening. The OMB memo may represent the first step in closing the door to executive branch information. The move is reminiscent of the attempts by both the Reagan and Clinton administrations to curb GPO activities. As in the past, the nonpartisan issue focuses on which branch of government will control the publication of government information. However, this time it's different. Previous efforts offered the National Technical Information Service (NTIS) as an alternative agency for handling the archiving and distribution of executive branch documents. There are no indications that the current scheme involves NTIS, an agency that's still recovering from attempts to disband it. The proposed policy offers no alternative to publication by NTIS or GPO and leaves the responsibility for publication and distribution to each agency. Without information produced by the executive branch, people are penalized in their work, research, education, general knowledge, and ability to judge the performance of their government. William Boarman, vice president of the Communications Workers of America, summarized the concern in his JCP testimony: By far, the most significant damage resulting from OMB's proposal would be the effect it would have on GPO's capability for ensuring citizen access to government information. For GPO, dissemination of government documents is a nonpartisan, virtually automatic process, which has been enhanced in recent years by expanded reliance on the Internet and other new technologies. That function is consistent with constitutional ideals, democratic principle, and the purposes and functions of Congress. [Author note] Miriam A. Drake is professor emeritus at the Georgia Institute of Technology Library. Her e-mail address is miriam.drake @library.gatech.edu. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: RE: Re: tax cuts/fiscal policy
The leader in the push was Steve Pease, who had earlier distinguished himself by doing The Attack of the Killer Tomatoes. On Sun, Nov 24, 2002 at 06:11:45PM -0800, Devine, James wrote: nomi writes: I'm still trying to figure out why the Dems failed to make more (or any significant) noise about California's electricity / corporate corruption crisis because the Dems -- in the form of Gov. Gray Davis -- were totally complicit with California's electricity / corporate corruption crisis. Jim -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: how things change
Yes, they hired Dick Armey also. What strikes me is that nobody on the left in political circles has spoken up, so that the right wingers look like brave heroes. On Sat, Nov 23, 2002 at 02:57:59PM -0500, Doug Henwood wrote: Michael Perelman wrote: The New York Times reports that Bob Barr will now work as a consultant to the ACLU. Not that much of a change - despite many other loony positions, Barr's always been a hardliner on civil liberties (like Ron Paul). Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: re: how things change
dollars are not liberal or conservative. On Sat, Nov 23, 2002 at 02:41:03PM -0800, Devine, James wrote: what surprises me is that Barr and Armey want to be associated with the ACLU. Isn't the ACLU liberal, and therefore bad, from the Reaganite perspective? Jim From: Michael Perelman Yes, they hired Dick Armey also. What strikes me is that nobody on the left in political circles has spoken up, so that the right wingers look like brave heroes. On Sat, Nov 23, 2002 at 02:57:59PM -0500, Doug Henwood wrote: Michael Perelman wrote: The New York Times reports that Bob Barr will now work as a consultant to the ACLU. Not that much of a change - despite many other loony positions, Barr's always been a hardliner on civil liberties (like Ron Paul). Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Re: re: how things change
No, it is not a bad thing. It is bad that it is necessary to find our allies on the right, while the left remains silent. Sen. Byrd is a noble exception -- he who was heretofore mostly a master of the porkbarrel. On Sat, Nov 23, 2002 at 06:07:36PM -0500, Doug Henwood wrote: You think they're associating themselves with the ACLU for the money? C'mon, it's probably not that much. Like I said before, Barr's a loon, but he's a seriou civil libertarian and probably is anxious about threats to civil liberties. Armey's a bit more of a surprise. But an alliance with right libertarians against snooping and repression isn't a bad thing is it? Doug Michael Perelman wrote: dollars are not liberal or conservative. On Sat, Nov 23, 2002 at 02:41:03PM -0800, Devine, James wrote: what surprises me is that Barr and Armey want to be associated with the ACLU. Isn't the ACLU liberal, and therefore bad, from the Reaganite perspective? Jim From: Michael Perelman Yes, they hired Dick Armey also. What strikes me is that nobody on the left in political circles has spoken up, so that the right wingers look like brave heroes. On Sat, Nov 23, 2002 at 02:57:59PM -0500, Doug Henwood wrote: Michael Perelman wrote: The New York Times reports that Bob Barr will now work as a consultant to the ACLU. Not that much of a change - despite many other loony positions, Barr's always been a hardliner on civil liberties (like Ron Paul). Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED] -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Re: Re: Re: re: how things change
Doug, you have a public voice, but few of us on the list really have a public voice as individuals. The wierd thing is that the snooping seems to be resonating very negatively once it moved from aliens to touching real Americans. On Sat, Nov 23, 2002 at 06:38:02PM -0500, Doug Henwood wrote: Michael Perelman wrote: No, it is not a bad thing. It is bad that it is necessary to find our allies on the right, while the left remains silent. What left? The left you I know isn't. The ACLU is full of liberals. If you mean the Dems, well they're not really the left, are they? Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
pc language
We often use expressions, such as looney, to suggest that someone's ideas cannot be taken seriously. I have no idea how one could say something comparable, still using colorgul language. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Frontiers of Scientific Research in the Information Age
Sorry, New York Times. On Thu, Nov 21, 2002 at 10:50:43PM -0800, Ian Murray wrote: - Original Message - From: michael perelman [EMAIL PROTECTED] To: [EMAIL PROTECTED] Sent: Thursday, November 21, 2002 9:53 PM Subject: [PEN-L:32456] Frontiers of Scientific Research in the Information Age November 22, 2002 Madison Ave. Plays Growing Role in Drug Research By MELODY PETERSEN = Michael, what newspaper? Ian -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: RE: Re: RE: Re: The Economics Biz
Obviously, Marx would not be a supply sider. Desai has prove conclusively that he would be a follower of Hayek. :) On Fri, Nov 22, 2002 at 08:57:19AM -0800, Devine, James wrote: Doug writes that Jude Wanniski thinks that Marx would be a supply sider today, which is silly it's not totally off-base, since Marx assumed the validity of Say's Law throughout most of volume I of CAPITAL after chapter 3. He argues there that higher profit rates encourage faster accumulation, which raises GDP growth a very supply side view. (What they miss are the contradictions of this process.) Finally, Marx assumed that gold was the basis for international money, which arguably made sense empirically at the time. Jim Devine -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Political Economy Research Institute Newsletter
Political Economy Research Institute Newsletter Up-Date November 2002 The Political Economy Research Institute (PERI) at the University of Massachusetts is pleased to announce some recent publications. These are described more fully below. (1) NEW PERI RESEARCH BRIEF - The Return of Finance and Finance's Return by Gerald Epstein and Dorothy Power. Link: http://www.umass.edu/peri/researchbrief.html. (2) NEW WORKING PAPER - Stock Market Liquidity and Economic Growth: a critical appraisal of the Levine/Zervos model by Andong Zhu, Michael Ash, and Robert Pollin. Link: http://www.umass.edu/peri/pdfs/WP47.pdf. For general information about PERI, please visit our website: www.umass.edu/peri If you received this e-mail by mistake or if you would like your name removed from PERI's distribution list, please send us a message: [EMAIL PROTECTED] * (1) NEW PERI RESEARCH BRIEF This month's RESEARCH BRIEF is The Return of Finance and Finance's Return: recent trends in rentier incomes in OECD countries, 1960-2000 by Gerald Epstein and Dorothy Power. Few contemporary observers would deny that, in the last several decades, the role of financial firms, financial markets and financiers has grown dramatically in many parts of the globe. However, despite the increased role of finance and the greater attention economists have paid to it, there has been relatively little empirical work measuring the income accruing to those engaging in financial market activity and owning financial assets. This PERI RESEARCH BRIEF presents some new evidence on trends in the size of the income share claimed by financial interests. Using measures of the rentier share of income for twenty-nine OECD countries from1960 to 2000, the authors analyze trends in the rentier share compared with changes in the income share accruing to non-financial corporations. They find that, since 1980 or so, the rentier share has been rising in many, though not all, of the OECD countries, while the non-financial corporate share has held steady or declined. Go to PERI Research Briefs: http://www.umass.edu/peri/researchbrief.html. Download this Research Brief: * (2) WORKING PAPER - Stock Market Liquidity and Economic Growth: a critical appraisal of the Levine/Zervos model by Andong Zhu, Michael Ash, and Robert Pollin. How does a country's financial system influence its overall economic development? This has been a long-standing issue in economics. Ross Levine and Sara Zervos published a highly influential econometric analysis in the AMERICAN ECONOMIC REVIEW in 1998 which purported to show that between 1976 and 93, a sample of 47 countries grow more quickly when their financial systems included a liquid stock market. But in this new PERI WORKING PAPER, Andong Zhu, Michael Ash, and Robert Pollin demonstrate that the Levine/Zervos findings are not robust. Rather, the Levine/Zervos results are driven by outliers in their model, and in particular by the influence of Asian Tiger economies. Zhu, Ash, and Pollin show that once one utilizes appropriate measures to control for outliers, one can no longer conclude that liquid stock markets promote economic growth. Consistent with a wide range of other literature, the results rather suggest that, among the 47 countries in the data sample, the East Asian Tigers enjoyed accelerated economic growth during the 1976 - 93 period because of the unique features of their development model, including the unique aspects of their financial systems prior to liberalization. Download this paper: http://www.umass.edu/peri/pdfs/WP47.pdf [ -- Michael Perelman Economics Department California State University [EMAIL PROTECTED] Chico, CA 95929 530-898-5321 fax 530-898-5901
Re: Re: The Economics Biz
Sachs did great harm in Russia; perhaps even more in Bolivia, but on a lesser scale. I have heard him speak about AIDs, and in his present incarnation, he does not seem bad. He comes across as a well-meaning liberal, which does not say much, but in the context of modern economics, that is almost a revolutionary stance. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
how things change
The New York Times reports that Bob Barr will now work as a consultant to the ACLU. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Privatization of information
colleges and universities. Private companies are being allowed to take information that has been created with tax dollars, they turn around, make some slight little change, and then they start selling it, Sheketoff said. Other government research arms also are concerned. Kent A. Smith, deputy director of the National Library of Medicine and chairman of an interagency group of federal providers of scientific and technical information, said the groups was not happy that PubScience was taken down. We believe there is a need to ensure open access for the public to information created by taxpayer dollars, Smith said. We think that's essential. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
guidance for student
A good student wants to know what the possibilities are for doing NGO type work abroad. Is there a good source for knowing the available opportunities? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Re: Re: Rx6: Joanne- re 2WW - I almost forgot
sure, you can have an honorary degree from me. On Thu, Nov 21, 2002 at 08:45:36PM -0500, [EMAIL PROTECTED] wrote: In a message dated 11/20/02 5:11:02 PM Pacific Standard Time, [EMAIL PROTECTED] writes: What is this strange fascination with Stalin? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED] To a not small degree it is I that periodically challenge those who raise the issue of the Stalin period. My reasoning is not to bore the readers but to examine the economic framework under which Soviet socialism operated and its law of value or the value form. Then the is the matter of the codification of materialist dialectics and how this conception of process was articulated by a previous generation of Marxist in power. It is true that I am fascinated with the Stalin period but have never had a desire to study his personal life. Part of my personal intellectual growth was in connection with large scale industrial production during that era of American history when the auto industry was still the classical arena of technological advance. On the level of theory, my framework of Marxism expresses having lived a 30 year period of a massive change in the organic composition of capital - the increasing use of advancing robotics as a machine operator, assembler and union rep. The frustration was witnessing this change and not being able to unravel its internal logic for the better part of twenty years. This led to studying some writings on tools development and usage within Soviet society and intensive and extensive evolution of machinery. It was exceptionally fascinating. The impulse to revolutionize industrial production under capital is driven by competition in the marketplace and this revolutionizing takes place very different under Soviet socialism. I always understood that robotics replaced human being and had read the better part of Stalin's 13 volumes at an early age. Most of his writings have to do with industrialization of the country as opposed to political struggle, but most folks don't know that. This question of the Soviet Union and Stalin has occupied a portion of my daily thinking for 31 years. Not just the internal party struggle, which was ultra complex. It is quite easy to understand a physical reaction resulting from a physical attack. This same action and reaction becomes much more complex in the social arena when a particular political policy or act may not have any direct result until many years later. Now it is true that I am a Stalin man in the same way that a person might be a Thomas Jefferson kind of democrat, which does not mean they support implementing slavery. The point is that I began to grasp what was being described by the Marxist in power once I made a leap outside of all the ideological categories. The Marxist in the Soviet Union were not communist in the sense of the logic of economic development. They were ideological communist based on reading books and a political desire. Actually, the previous generation of Marxist in America were not communist or even revolutionary except in the purely ideological sense. One can only be revolutionary when conditions have ripened for revolution. Historically, the previous generations could only be industrial reformers because of the time framework and evolutionary development in the material power of the productive forces. Joining a political group or espousing a particular doctrine does not make revolutionaries. Fighting the good fight does not make one revolutionary or progressive today either, and this includes me first and foremost. Sir, the fascination is the unfolding of the value form and defining what is meant by the revolution in the material power of the productive forces. Forget Stalin and call it the Stalin - stallin, Period of time. The stall is the recognition that something is rotten in Rome, and the leap is not possible based on electromechanical means of production. Hey, the American peoples are very far advanced from the stallin period of time. The communist class has arisen but ideology confuses matters. Here is an example. Comrade Stalin said the American workers could best gauge the advance of Soviet society. Check this out for a minute: I am not the American worker but rather a black worker that is in a revolutionary position and all such other crap. The stallin (Stalin) period is fascinating because if you check it out it's like the catch 22 proposition. Mr. Michael Perelman, my commitment is to be interesting and thought provoking. And to remain several steps ahead of the ideologues. Can I get an honorary degree in self study for unraveling the value form? I want this for me and hard thinking. -- Michael Perelman Economics Department California
The Economics Biz
Columbia Buys Residence To House Top Professor Jon E. Hilsenrath, Wall Street Journal NEW YORK -- Columbia University has taken star wars for college economics professors to a new level with the acquisition of an $8 million townhouse in Manhattan that will house one of its top economists, Jeffrey Sachs. In April, the university lured Mr. Sachs away from Harvard University, where he earned a reputation as a confidant to leaders in developing countries. He is now head of Columbia's Earth Institute and an adviser to United Nations Secretary-General Kofi Annan, not to mention Bono, the rock star and activist. With student enrollment in economics classes booming, universities across the nation have been engaged in a bidding war to lure star economists, hoping that the appointments will attract the brightest students and multimillion-dollar grants from foundations. Before Mr. Sachs's arrival, the Earth Institute was little known outside the world of environmental scientists. Its disparate collection of research organizations, like the Goddard Institute for Space Studies and the Lamont-Doherty Earth Observatory, focused mostly on issues of geology and climate. The Institute also runs a 3.5-acre, glass-enclosed research laboratory in Arizona known as the Biosphere. Now, Mr. Sachs plans to use the institute to push a broad agenda focused on what economists call sustainable development. This means the university is keen to focus not just on the cold-hard formulas of economics, but also on issues like disease and the environment and how they affect poor economies. Jeff Sachs adds hugely to the global believability of a school. He is a rainmaker who probably brings that much or more in consulting contracts to Columbia and attracts top international students, says James Smith, an economics professor at the University of North Carolina's business school. Recently, for example, the Earth Institute was awarded participation in a $10 million joint grant with the World Health Organization from the Gates Foundation to advise countries like Ghana, China and India on how to combat infectious diseases. University officials say the townhouse will not only serve as Mr. Sachs's residence, for which he will pay faculty-rate rent, but the first two floors and basement will also serve as offices and a reception center, where the Earth Institute will host international dignitaries, donors and scholars. The arrangement was previously reported in the New York Observer. For administrators at Columbia , the Earth Institute is about more than just forging closer ties to the U.N. It is also about regaining old glory. Columbia's aspirations are no less than to be among the very top universities in the world. That means having people of enormous creativity and talent and we're prepared to compete in that world, said Lee Bollinger, the university's president. A half-century ago, the department was among the three top in the country. It produced Nobel prize winners like Robert Mundell, who laid the intellectual groundwork for the creation of the euro currency; policy makers like Arthur Burns, the former Federal Reserve chairman; and other luminaries, including trade theorist Jagdish Bhagwati. But the department went through a long period of decline in the 1970s and 1980s. That has been changing in recent years as the university has started to pay top dollar to hire well-known economists such as Joseph Stiglitz, the Nobel prize winner. Pay packages can be in the neighborhood of $300,000 and appointments parceled out among different departments at the university. Some are puzzled by the attention being placed on the Earth Institute. I'm not really sure exactly what [the Earth Institute] does, says Douglas Gale, chairman of the economics department at New York University. I know they take a global perspective and they are interested in the environment and they have this bubble that people live in for six months in Arizona. It is a strange kind of place because it has its fingers in so many pies. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Frontiers of Scientific Research in the Information Age
, a small medical marketing company that publishes the journal, to print Dr. Gorman's article in a special supplement. Other researchers find the data less convincing. The Medical Letter, a nonprofit newsletter respected for its independence from the pharmaceutical industry, reviewed the same clinical trials as Dr. Gorman and concluded in September that Lexapro had not been shown to be better than any other antidepressant, including Celexa. Dr. Gorman said that Forest paid him as a consultant as drug companies do hundreds of other doctors but did not pay him for the Lexapro article. In published research, he has acknowledged serving as a consultant or receiving payments from a dozen other drug makers. Last month, Forest and Intramed turned their attention to fourth-year medical students who will begin writing prescriptions next year. On Oct. 18, Forest paid to fly one student from each medical school in the country to New York for a two-day conference at Columbia. The students were treated to two nights at the Plaza Hotel, three meals a day and tickets to a Broadway show. Intramed coordinated the event, shuttling students from place to place and helping conference speakers with their presentations. Dr. Gorman, who helped organize the conference for Columbia, gave a brief presentation on his Lexapro study during a speech about antidepressants. He said the conference's purpose was to get medical students interested in psychiatric research and in residency positions at Columbia, not to promote Forest's drugs. Forest had simply donated money for the conference, he said. The University of Rochester did not send a representative because some students expressed concern about the drug industry sponsorship. In a letter to Columbia, Lenard I. Lesser, a Rochester medical student, said that Forest would not have paid for the conference unless it expected a financial return. This is setting a bad precedent, Mr. Lesser said. It is all about establishing relationships that will be profitable. The tide does not appear to favor Mr. Lesser's stance. In Washington, the F.D.A.'s new chief counsel, Daniel E. Troy, who fought restrictions on drug promotion as a private lawyer, is leading a review of regulations that could relax existing limits on behind-the-scenes marketing of drugs. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Housing bubble watch
I am surprised that building permits are increasing. I wonder what kind of permits they are -- apartments, luxury homes, commercial? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Easterbrook's claims
It is amazing what sort of nonsense passes for wisdom in this world. In so far as Mexico is concerned, I understand that many of the jobs are in danger because even the miserable Mexican wage is too high in the world economy today. As for inequality being a statistical artifact due to immigration, that sounds nuts -- but I bet that someone at Heritage or some such place has proven it. On Wed, Nov 20, 2002 at 03:30:47PM -0500, F G wrote: I followed the link posted by Lou where Easterbrook review's Singer's new book: http://www.washingtonmonthly.com/features/2001/0211.easterbrook.html Much of the article is not worth responding to, since it argues that globalization is good without bothering to define it. However, I was interested in the following claims: And he notes that the main effect of NAFTA, denounced by the anti-globalization left as a tool of corporate oligarchs, has been the creation of relatively high-paying jobs in Mexico I've read in several places that this not true or at least misleading (in particular in a book on NAFTA written by Mexican economist Alberto Arroyo and others), that many new jobs do not provide benefits and are of a precarious nature, and there continues to be high unemployment. Also the real minimum wage is down from 1993. Anyone know more about this? I suppose it depends partly on the meaning of relatively high-paying, and how many jobs have actually been created. As usual, it also needs to be argued that things could not have been better without NAFTA. Also: Average incomes there [in the developing world] almost doubled from 1975 to 1999; even if you subtract for oil-enriched developing nations with unusually high GDPs per capita, global average income rose (Don't know about the data, but if you exclude India and East Asia, I suspect the story is much worse) and: (And the endless widening gap between rich and poor in the United States? This is an artifact of the huge rise in legal immigration in the last two decades. Factor out the low incomes of the newly arrived foreign-born, and the gap between rich and poor Americans is shrinking. But that's a story for another day.) Any comments on this? Note that the massive rise in immigration is at least in part due to global inequality and third world regression. -Frank G. _ Help STOP SPAM with the new MSN 8 and get 2 months FREE* http://join.msn.com/?page=features/junkmail -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Rx6: Joanne- re 2WW - I almost forgot
What is this strange fascination with Stalin? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: protection rents, part 1
In both wars, the US shelled out before the war to bribe acquiescence, but Peter is correct -- it looks like the US will have trouble collected afterwards. On Tue, Nov 19, 2002 at 09:45:16AM -0800, Peter Dorman wrote: It's beginning to look like, financially, Iraq II will be the opposite of Iraq I. Ten years ago, the US fought the war as a mercenary and was repaid by other capitalist powers; we ended up with an approximately $100B transfer on the current account. This time around, the US will have to be the one to shell out for acquiescence to an unpopular war. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: cutting privatizing state services
Privatizing education also tends to reinforce the fragmentation of society into separate islands of experience. Public schools, at their best, bring all sorts of people together in ways that they would not have otherwise experienced. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: RE: Re: RE: Re: economics on pen-l
The dollar has historically been seen as a hedge against uncertainty. The war would seem to promise more uncertainty, perhaps then subsidizing the dollar in part. On Mon, Nov 18, 2002 at 08:17:43AM -0800, Devine, James wrote: Peter B. writes:The strength of the dollar depends entirely on the willingness of the rest of the world to accumulate them at the rate of one-half trillion a year. Private wealth-holders will do so based on expectations of risk (exchange rate and liquidity) and rate of return. Public dollar repositories (CB's) will do so for either economic (including liquidity) or political reasons. It seems to me that the Bushies cannot afford to alienate the interests that govern CB decision-making. The current military power buildup may be seen as a basis for supporting the dollar (an implicit quid pro quo if you will), or it may be seen as reckless and overly unilateral. How would you analyze the effect of US militarism on the willingness of CB's to accumulate dollars? My feeling about this (and all one can say about the future involves feelings) is that if the war against Iraq and similiar forms of adventurism pay off for the Bushwackers, as they expect them to do, then it will keep the dollar up. (Of course, there can be lots of down wiggles: I'm talking on average.) On the other hand, if the spendid little war (version 2.1) turns out to be a quagmire that doesn't pay off well for them, the dollar generally will fall. Jim -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Loren Goldner's Web site
This is just a brief message to let you know that I have in the past couple of months added a number of new and old texts recently to the Break Their Haughty Power web site at http://home.earthlink.net/~lrgoldner These include an exchange between myself and the British Aufheben group about my text The Remaking of the American Working Class, followed by a very pertinent appendix on fictitious capital by Michael Perelman; a long review of a three-volume study of the medieval period by Joao Bernardo (see bottom for book review section); a retouched 1983 article on the absence of a working-class political party in the U.S., to be further modified and updated for publication in 2003; a new preface to the Swedish translation of the Bordiga pamphlet (translation forthcoming); my book length study of Herman Melville; and a number of French, Ita -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
