Pen-lers might be interested in the following letter sent to the Times:
Nathaniel C. Nash's "Latin Economic Speedup Leaves Poor in the
dust"(September 7, 1994, p. l) assumes that a 3 percent growth rate of
the past four years "is the most robust economic expansion in Latin
America in
Jim: Couldn't agree more that Keynes and Marx were monetary economists.
But they were not k"monetarist
"monetarist" as I indicated in my 22 July review of
"Guttmann Blockbuster." "Both Marx and Keynes understood the standard
treatment of money to be the "Achilles' heel at which to aim their
Stan Menshikov asked me to do something for his journal which circulates
in Eastern Europe. What the Russians and Their Friends Should Know About
Monetarism. When the Soviet Union and other Eastern European countries
abandoned their command economies, they invariably turned to advice
proferred
Monetarists typicall recognize one type of inflation: demand pull inflation
that is accompanied by too much money chasing too few goods. In my view,much of the
Russian inflation has been of the supply-side variety coming from
reductions in subsidies and prices reflecting the true
Pen-lers might be interested in the following review of Lynn Nelson and
Irina Kuznes book, M.E.Sharpe,1994: Nelson and Kuznes conclude that
the Yeltsin government "would have to fashion a more realistic economic
program than the one hammered out by the Gaidar team-- one less sensitive
to the
Pen-lers should appreciate Robert Guttmann's magnum opus, How Credit Money
Shapes the World, M.E. Sharpe, 1994, $27.95 (Paper). My review follows:
Robert Guttmann's pathbreaking critique of contemporary international
monetary policy attempts to explain capitalism's long-run tendencies and
One of the best sources of information on Nazi fiscal policy was published
by the National Industrial Conference Board in 1936, asI r
ecall. This is
the original name for the Conference Board today. There was deficit financing
which surprisingly produced smaller overall deficits. In other
On April 21-22, the Economic Policy Institute, a "liberal think-
tank," hosted a conference on Saving and Investment at the Mayflower
Hotel in Washington. The Conference was planned and organized by Bob
Pollin of the University of California, Riverside, and the papers will be
published in
equivalents," or more or less balanced trade with each partner. It
is this non-mercantilist approach to trade that makes China especially
tempting to the advanced capitalist countries, which all follow neo-
mercantilism to some degree, despite the contrary assertion by the
1994 Economic
wages is to lookat per capita consumption. Outside of bread
(an inferior good) and pornography, the per capita consumption
of most goods and services has been falling. Lynn Turgeon ECOELT
@VACB.Hofstra.Edu
Brazil has pioneered in indexing interest rates to obtain constant real
interest rates. Not too long ago, Milton Friedman was pushing the
"Brazilian solution." Remember that for a long time there was little
in the way of real interest rates. Until 1980, the average postwar real
interest rate was
re between 2 percent and 8 percent, if you
include disguised unemployment. Many of their leaders are now in
their 30s,with a 33-year old Prime Minister. Lynn Turgeon ECOELT@
VACB.Hofstra.edu
What is one to make of Keynes's introduction to the German edition of
THE GENERAL THEORY dated 7 September, 1936? "This is one of the reasons which
justify calling my theory a GENERAL theory. Since it is based on less
narrow assumptions than the orthodox theory, it is also more easily
adapted to
The reporting of Federal Reserve Chairman Alan Greenspan's
testimony before the Joint Economic Committee on January 31, 1994, failed
to capture some interesting interchange, as observed on C-Span. In the
beginning, Chairman David Obey of Wisconsin was allowing three Republican
members
The reporting of Federal Reserve Chairman Alan Greenspan's
testimony before the Joint Economic Committee on January 31, 1994, failed
to capture some interesting interchange, as observed on C-Span. In the
beginning, Chairman David Obey of Wisconsin was allowing three Republican
members
I wonder whether you have read Martin Hart-Landsberg's The Rush to
Development (Monthly Review, 1993). I noticed that while South Korea
is frequently described as following "export-led growth" there were
only three years in the mid-80s when there was an export surplus. I
have even seen CIA
In response to Doug Henwood's suggestion:
Norman Rush's conclusion (The Nation, January 24, 1994)
that it is "over for socialism" seems a bit premature judging by
recent events in Eastern Europe. Disillusionment over the results
of capitalist markets as produced by different versions of
"Economists Trade Barbs Over President'sPolicy" was the headline in the
New York Times, January 5, 1994, p. D-2, for a meeting I attended.
Martin Feldstein, who chaired the CEA in the second half of Reagan's
first term, acknowledged that "to complain too loudly about an economy
that is growing
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