Does the oncoming recession represent a typically
keynsian business cycle or is there a Hayek story
where given the extent of misallocated investments in
the new technology (bunching up shumpeterian
innovation), bankruptcies on mass are the way to deal
with the problem and intervention may add
Ali wrote: Does the oncoming recession represent a typically keynsian
business cycle or is there a Hayek story where given the extent of
misallocated investments in the new technology (bunching up shumpeterian
innovation), bankruptcies on mass are the way to deal with the problem and
That's quite a good story on Steve Peace. He's more reprehensible than
I knew, and I knew a lot. Your student's name is familiar. Did he
write the story of the farm worker who was electrocuted near Chico a
while back? Whoever wrote that did a marvelous job.
One point in the story below
BLS DAILY REPORT, TUESDAY, JANUARY 30, 2001
In 1995, the Bureau of Labor Statistics predicted that 5 of the 10 fastest
growing occupations over the coming decade -- including 2 of the top 3 --
would be in health care. The bureau recently revised those projections for
the years 1998 to 2008, and
OK, now that the IMF and the World Bank have
admitted that they were wrong, will Krugman admit
that he was wrong?
-b
Robert Naiman
Senior Policy Analyst
Center for Economic and Policy Research
1015 18th Street, NW, Suite 200
Washington, DC 20036
202-293-5380 x212
Fax: (202) 822-1199
[EMAIL
At 08:08 AM 1/31/01 -0800, you wrote:
One point in the story below is about a supposed consumer advocate -
one of those TV channel advocates. The article you posted says "Another
$106,000 was given to David Horowitz, whose "Fight Back with David
Horowitz" TV show in Los Angeles
Gene asked about the writer. Yes, this is the same student. I will
continue to call him my student until he submits a ten-year-overdue paper.
Not only to a story like this weekly, he attends all of the city and
county meetings, reports on them, and does all the other work for the
paper. A
At 12:37 PM 1/31/01 -0500, you wrote:
OK, now that the IMF and the World Bank have
admitted that they were wrong, will Krugman admit
that he was wrong?
-b
being a superstar means never having to say you're sorry.
Jim Devine [EMAIL PROTECTED] http://bellarmine.lmu.edu/~jdevine
The investment bunching business cycle theory begins with Marx. Robertson
picked it up from him, making it respectable. Hayek got his theory of
bunching from Mises. Incidentally, David Laidler's Fabricating the
Keynesian Revolution does a good job of telling this story -- without
mentioning
Seeing as how the religion of the market is the quasi-official public faith,
isn't it about time the tax code was amended to enable the faithful to claim
appropriately pious financial investments as charitable deductions? Some
prospective names: Full Gospel Mutual Fund, First National Bank of
Ian,
But a straw can only break a camel's back if the
camel's back is already fully loaded. I do not know
exactly when the disillusionment set in, but it had been
going on for a long time.
Personally, I think that although
Soviet foreign policy continued to have a strong ideological
OK, now that the IMF and the World Bank have
admitted that they were wrong, will Krugman admit
that he was wrong?
-b
Robert Naiman
Senior Policy Analyst
Center for Economic and Policy Research
I always thought that successful industrial policies were built on
*subsidizing* exports. I've yet
Justin,
Two points:
1) It has been very easy for many people to point
to the CIA's overestimates of the Soviet economy. But,
the Soviet planners themselves used the CIA estimates
themselves. They were the best available and not nearly
as exaggerated as those coming out of other
Market woes test the mettle of iron, steel sectors
China Online
(30 January 2001)
A tenuous balance between supply and demand, imports and exportsXnot to
mention an ancient organizational structure and trouble with quality
controlXcombine to illustrate an industry in chaos, according to the
China Online
Non-state investments outstrip state investments in Shanghai
(30 January 2001) The city of Shanghai achieved a major milestone in 2000.
For the first time in 50 years, investments made by interests other than
the central governmentXso-called "non-state" investmentsXtotaled more
Just for the record, I have an article that was supposed
to appear in Jan.-Feb. also. Who knows?
Barkley Rosser
-Original Message-
From: Michael Perelman [EMAIL PROTECTED]
To: [EMAIL PROTECTED] [EMAIL PROTECTED]
Date: Wednesday, January 31, 2001 12:25 AM
Subject: [PEN-L:7577] Re:
Ali,
It may be Schumpeterian, but it is probably not
Hayekian. In the Hayekian case, the overinvestment
occurs because monetary policy was "too easy"
and pushed the "market rate of interest below the
natural rate of interest." Maybe one can argue that
the Fed should not have cut interest
Michael,
Marx had a bunching theory tied to replacement
wave cycles a la the sort of thing now advocated
by Kydland and Prescott ("real business cycles").
The latter even attribute their beginnings to "technology
shocks." But, did Marx tie the original bunching to a
wave of investment in a
January 31, 2001
Pirate Attacks Reach Record High
By THE ASSOCIATED PRESS
Filed at 12:25 p.m. ET
KUALA LUMPUR, Malaysia (AP) -- Pirate attacks have reached an all-time high,
with 72 people killed in 469 attacks last year, and the waterways of Indonesia
remain the most dangerous, a maritime
Although nobody has asked, the title will be
(according to the galley proofs),
"Failure of the Washington Consensus on
Inequality and Underground Transition Economies."
A version with a slightly different title is available
on my website. It is coauthored with my wife, Marina.
Barkley
On 31 Jan 01, at 9:53, Brad DeLong wrote:
OK, now that the IMF and the World Bank have
admitted that they were wrong, will Krugman admit
that he was wrong?
-b
Robert Naiman
Senior Policy Analyst
Center for Economic and Policy Research
I always thought that successful industrial
Jr. wrote
Ali,
It may be Schumpeterian, but it is probably not
Hayekian. In the Hayekian case, the overinvestment
occurs because monetary policy was "too easy"
and pushed the "market rate of interest below the
natural rate of interest." Maybe one can argue that
the Fed should not
Sure, the CIA estimates were more or less OK, if wrong, given what was
known. Although the perestroichiki, especially Aganbegyan and Zaslavsakaya
in Siberia, knew better earlier. But my point was just that no one expected
collapse, including the CIA; so no one expected total and overwhelming
Ian,
Exactly the point. There is no patience. In
a true boom there is a mania for the quick return
that takes over, and that is seen (rightly at least
for awhile) as holding largely in the "new tech"
sector, whatever it is or was.
Barkley Rosser
-Original Message-
From: Lisa Ian
Reply-To: [EMAIL PROTECTED]
From: "Chiapas Media Project" [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Subject: FOUR NEW VIDEOS FROM CHIAPAS
Date: Wed, 31 Jan 2001 10:56:22 -0600
FOUR NEW VIDEOS FROM CHIAPAS
The Chiapas Media Project announces four new videos produced by Indigenous
videomakers from
Just goes to show that 'new' along with 'freedom' are still the most abused
words in English.
There were/are plenty of other 'new' technologies to invest in, nonetheless...
Ian
-Original Message-
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED]]On Behalf Of J. Barkley Rosser,
Jr.
http://home.earthlink.net/~caro/topten.html
At 01:29 PM 1/31/01 -0500, you wrote:
Marx had a bunching theory tied to replacement
wave cycles a la the sort of thing now advocated
by Kydland and Prescott ("real business cycles").
The latter even attribute their beginnings to "technology
shocks."
But Marx emphasized the demand side
At 02:50 PM 1/31/01 -0800, you wrote:
Jim Devine wrote,
it's on the "cost of living" inflation rate, something that first appeared
in rudimentary form in pen-l a couple of years ago. The basic idea is that
if you include non-market aspects of the cost of living as part of a
measure of
At 02:23 PM 1/31/01 -0800, you wrote:
I understand that. I was refering to the way the Fed manipulates the
meaning[s]
of the term. Surely they weren't moving interest rates like crazy because
of the
CPI? What's AG call it, "constructive ambiguity" or some such?
no, they move it because of
Jim Devine wrote,
it's on the "cost of living" inflation rate, something that first appeared
in rudimentary form in pen-l a couple of years ago. The basic idea is that
if you include non-market aspects of the cost of living as part of a
measure of average prices (the actual price of buying
I understand that. I was refering to the way the Fed manipulates the meaning[s]
of the term. Surely they weren't moving interest rates like crazy because of the
CPI? What's AG call it, "constructive ambiguity" or some such?
Ian
-Original Message-
From: [EMAIL PROTECTED]
[EMAIL PROTECTED] 01/30/01 11:24PM
but this was quite different from the attitude of the early 1920s or the
late 1910s. By the time K had taken over, the emphasis was on fighting and
winning the battle of competition with the "West" ("we will bury you") just
like Microsoft wanted to bury
All the price measures continue to show
that inflation is well under control, with the
overall GDP price index rising at a 2.1 percent
annual pace. There is no evidence of the
inflation that prompted the Federal Reserve Board
to raise interest rates six times over the last
year and a half.
GDP Byte
By Dean Baker
GDP Byte is published quarterly upon release of
the Bureau of Economic
Analysis' report on the Gross Domestic Product.
For more information
or to subscribe by fax or email contact CEPR at
202 293-5380 ext.206
or [EMAIL PROTECTED]
**
Investment Falloff Slows GDP
CBO Budget Byte
By Dean Baker
**
CBO Increases Growth Projections Again
Brighter Picture for Social Security, Weak
Profits for Wall Street
The Congressional Budget Office (CBO) once
again increased their projections for growth
in the latest Economic and Budget Outlook. The
BLS DAILY REPORT, WEDNESDAY, JANUARY 31, 2001
RELEASED TODAY: "Metropolitan Area Employment and Unemployment: December
2000" indicates that in December, 215 metropolitan areas recorded
unemployment rates below the U.S. average (3.7 percent, not seasonally
adjusted), while 106 areas registered
At 02:03 PM 1/31/01 -0800, you wrote:
What are asset price bubbles if not inflation?
"inflation," when unqualified, almost always refers to consumer price
inflation. It's okay to add qualifications and thus to talk about asset
inflation, inflation of rhetoric, grade inflation, cost-of-living
Yes, it is rather like the old saying that an army and a navy is all that
distinguishes a language from a dialect. That's just one reason why faith-based
initiatives will quickly lead the Bush administration down a slippery
definitional slope.
Joel Blau
Jim Devine wrote:
Justin wrote:
A
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