I went to the OSU workers' rally mentioned below in OSU student newspaper
_The Lantern_ (the _Lantern_ editorial supports workers). Several hundreds
of workers gathered in front of Bricker Hall (the admin building),
demanding wage increases, safer working conditions, better educational
At 01:22 PM 04/02/2000 -0500, Barnet wrote:
Perhaps someone could summarize (or supply citations on) current
(heterodox) thinking on interest rate determination
(in the U.S.).
You may wish to consider the following citations on current hetero economics and
interest rates. They are
BLS DAILY REPORT, WEDNESDAY, APRIL 5, 2000
Virtually all indicators of the health of the U.S. labor market showed
vigorous growth last year, as nonfarm payrolls added 2.7 million workers and
employment hit a new record high of 129.6 million in the fourth quarter,
according to a review of major
I think that David is still on the list.
April 6, 2000
Solomon Barkin, 92,
Economist in Labor
Movement and Teacher
By WOLFGANG SAXON
olomon Barkin, a retired labor economist
and professor emeritus at the University of
Massachusetts who wrote
What was ending was the century of the "progressive" state bureaucrat, who
had entered the international workers' movement in the German SPD and its
1875 Gotha Program, and who for 100 years seemed, in "socialist" and
"communist" guise, to represent something "beyond capitalism". Events
In today's NY TIMES, Brad DeLong (an erstwhile participant in pen-l and an
editor of the prestigious JOURNAL OF ECONOMIC PERSPECTIVES) has a column,
on page 2 of the business section. It's interesting and useful in some
ways, but suffers from some basic economic mistakes.
He writes that in
On the way to work, I heard a report on U.S. National Public Radio that
indicated that experts were shocked because the Arctic ozone layer was
thinner than expected: the expected recovery of that layer had been slowed,
where the recovery was expected because ozone-depleting chloroflourocarbons
Both of the quotes-- deficits crowd out private investment and deficits
cause high interest rates (more specifically there that lowering deficits
cause lower interest rates) are pure Summers, but you are right that
"pre-Keynesian" is the correct general label. Bob Eisner and Bill Vickrey
spent
-- Forwarded message --
Date: Thu, 06 Apr 2000 08:44:23 -0400
From: Chris Chase-Dunn [EMAIL PROTECTED]
To: WORLD SYSTEMS NETWORK [EMAIL PROTECTED]
Subject: [Fwd: RadFest 2000]
Would you be willing to distribute the following announcement to the WSN
list?
Thank you,
Patrick
On the way to work, I heard a report on U.S. National Public Radio that
indicated that experts were shocked because the Arctic ozone layer was
thinner than expected: the expected recovery of that layer had been slowed,
where the recovery was expected because ozone-depleting chloroflourocarbons
DEFLATION HITS NET IPOs
The market has spoken: unless e-commerce companies begin showing
profits,
the money tap is going to dry up, and all that's left of dot-com
euphoria
will be a major hangover. According to research by Investor's Business
Daily, 165 high-tech companies that went public since
Good morning list,
I need a detailed "chronology" of financial crisis (bank, money,
debt, commodity, whatever) from 19th through 20th centuries for 1. world
systemic wise (global) 2. US wise (domestic) 3. UK wise (domestic).
4. periphery wise analyses. Arrighi, Fishlow and Strange books are
Jim Devine [EMAIL PROTECTED] 04/05/00 11:45PM
In the cycle, interest rates are pro-cyclical, with the interest
rate soaring to the stars in a financial crisis, and then falling as the
demand for loans falls in a recession.
((
CB: Would this mean bankers have a tendency
Kindleberger's "Manias, Panics, and Crashes"? Other of his writings?
Galbraith's "A Short History of Financial Euphoria" may have some relevant
references? Martin Wolfson's "Financial Crises: Understanding the Postwar
U.S. Experience" for that period?
-Original Message-
From: [EMAIL
I really wonder why New York Times and bourgeois sources like
this suddenly rediscover Africa's heritage of colonalism!! Overall, it
does not seem to me more than an "orientalist" sympaty of reconstructing
the "other": we killed the folks, and let's do something to compansate it.
o!!..
Mine
James Devine on the crash of 1929.
CB
"Mathew Forstater" [EMAIL PROTECTED] 04/06/00 02:39PM
Kindleberger's "Manias, Panics, and Crashes"? Other of his writings?
Galbraith's "A Short History of Financial Euphoria" may have some relevant
references? Martin Wolfson's "Financial Crises:
Jim Devine [EMAIL PROTECTED] 04/06/00 02:29PM
I wrote: In the cycle, interest rates are pro-cyclical, with the
interest rate soaring to the stars in a financial crisis, and then falling
as the demand for loans falls in a recession.
CB asks: Would this mean bankers have a tendency to
Mat Forstater asked:
why would
Brad contribute to perpetuating such theoretically, empirically,
historically, unsupportable views, when he surely knows better?
I don't know about Brad, but the general problem of the continuing dominance
of pre-Keynesian ideas in the thinking of economists
Specter of one big company in our future?
By Russell Mokhiber and Robert Weissman
Bring 'em on. A few years ago, even a few weeks ago, we might have opposed the
AOL-Time Warner merger. But now we're ready to leave 20th century thinking behind.
We recognize that this merger has "synergies
I'm a Henwoodite in predicting big global aspects of the future, but just
an observation.
What is this, a plague of Henwoodism? first Louis, and now the dominoes
start falling... once we start down that slippery slope...
;-)
BTW, I don't predict the future. Part of the nature of the current
CB: In general, I think of bankers wanting high interest rates for the
obvious reason that it is the price of money ( which they "sell" in
loans). I think they are this much "in your face" at one level, but I can
see that this simple profitmaking would be contradicted by other factors
What is this, a plague of Henwoodism? first Louis, and now the dominoes
start falling... once we start down that slippery slope...
;-)
BTW, I don't predict the future. Part of the nature of the current boom (as
with previous ones) is that there's tremendous amounts of uncertainty.
What's a
Jim Devine wrote:
Monopoly power encourages inflationary persistence,
as when inflation
continued in the face of the early 1970s recession (that's just the
clearest case). However, the US economy has become much more competitive
during the last 20 years.
Interesting contrast with the
Specter
Jim Devine [EMAIL PROTECTED] 04/06/00 04:06PM
CB: In general, I think of bankers wanting high interest rates for the
obvious reason that it is the price of money ( which they "sell" in
loans). I think they are this much "in your face" at one level, but I can
see that this simple
The longest U.S. economic expansion
By Wadi'h Halabi
The monopoly media has been celebrating the longest expansion in U.S. history - eight
years, 10 months. If unemployment was the criterion, the expansion would be at least
18 months shorter.
The government estimates 9.6 million people
Has anyone looked at the textbook, AN INTRODUCTION TO THE MARKET SYSTEM by
Kalman Goldberg (ME Sharpe 2000)?
Is it worth it?
Jim Devine [EMAIL PROTECTED] http://liberalarts.lmu.edu/~jdevine
My casual impression is that the US economy has and is becoming more
concentrated. What's yours?
it depends on one's time frame. Compared to the "good old daze" of the
1950s 1960s, the US economy is currently less monopolistic, not only due
to globalization but also deregulation of
CB: From whom do they [banks] borrow ? Aren't the biggest creditors, net
creditors ?
they borrow from all people who have bank accounts, though the most
important are those who can afford to save most and also can afford to keep
the largest amounts in the bank.
CB: Stagflation seemed to be
Later, he writes that "Lowered interest rates [in the 1990s] driven
in part by the shrinking of annual budget deficits..."
According to the usual sources on interest rates, the 1990s real
interest rates were high, not low.
I wrote "lower*ed*" for a reason...
Brad DeLong
Both of the quotes-- deficits crowd out private investment and deficits
cause high interest rates (more specifically there that lowering deficits
cause lower interest rates) are pure Summers, but you are right that
"pre-Keynesian" is the correct general label.
Nah. In the context of the 1980s
The airlines are highly concentrated. Deregulation caused a temporary dip in
concentration which has now been overcome. They fix prices
oligopolistically.
Jim Devine wrote:
My casual impression is that the US economy has and is becoming more
concentrated. What's yours?
it depends on
sorry.
Later, he writes that "Lowered interest rates [in the 1990s] driven in
part by the shrinking of annual budget deficits..."
According to the usual sources on interest rates, the 1990s real interest
rates were high, not low.
I wrote "lower*ed*" for a reason...
Brad DeLong
Jim Devine
In a 1990 article in Scientific American, Brian Arthur says:
"Moveover, if one or a few firms came to dominate a market, the
assumption that no firm is large enough to affect market prices on its
own (which makes economic problems easy to analyze) would also
collapse. When John R. Hicks
At 03:15 PM 4/6/00 -0700, you wrote:
The airlines are highly concentrated. Deregulation caused a temporary dip
in concentration which has now been overcome. They fix prices
oligopolistically.
right, but they show in miniature what I'm talking about. Initially, there
was a surge in
Hicks, J.R. 1946. Value and Capital, 2nd ed. (Oxford: Clarendon Press): p.
84: "It is, I believe, only possible to save anything from this wreck ...
if we assume that the markets confronting most of the firms with which we
shall be dealing do not differ very greatly from perfectly competitive
I'm running out but it *might* be "The Foundations of Welfare Economics"
Economic Journal that year. I can check tomorrow, but you could also e-mail
Edward Nell at [EMAIL PROTECTED] and he would probably know off the top.
-Original Message-
From: Eugene Coyle [EMAIL PROTECTED]
To: Pen-L
I wrote
currently, we're having the opposite of stagflation, i.e., low
official unemployment rates and low inflation.
Susan Fleck asks:
Would that be disemployment?
officially it's called disinflation.
Jim Devine [EMAIL PROTECTED] http://liberalarts.lmu.edu/~jdevine
I was playing with words, but also was thinking that disinflation was only a
situation of low inflation, not necessarily linked to low unemployment,
given that the neoclassical explanation would suggest that low unemployment
rates signal wage pressure thus 'fueling' inflation.
I think it's time
Mat writes:
Both of the quotes-- deficits crowd out private investment and deficits
cause high interest rates (more specifically there that lowering deficits
cause lower interest rates) are pure Summers, but you are right that
"pre-Keynesian" is the correct general label.
Brad ripostes:
Nah.
At 07:32 PM 4/6/00 -0400, you wrote:
I was playing with words, but also was thinking that disinflation was only
a situation of low inflation, not necessarily linked to low unemployment,
given that the neoclassical explanation would suggest that low
unemployment rates signal wage pressure thus
(BTW, before I start my diatribe, notice that higher interest rates
(Brad's topic) are not the same thing as "crowding out" of private
investment (Mat's topic). This is especially true because government
deficits encourage private spending via the accelerator effect.)
Very true...
In the
I wrote:
In the process, the second problem with Brad's riposte was revealed,
i.e., the assumption that the Fed has the _power_ to target real GDP.
Brad says:
They think they do (albeit imperfectly, with substantial errors)
well, I think I'm the king of England (albeit imperfectly, with
I wouldn't say it's the best paper but certainly the best in the US. Its
editorial stance is another matter altogether.
Anthony P. D'Costa
Associate Professor Ph: (253) 692-4462
Hicks, J.R. 1946. Value and Capital, 2nd ed. (Oxford: Clarendon Press):
p. 84: "It is, I believe, only possible to save anything from this wreck
... if we assume that the markets confronting most of the firms with
which we shall be dealing do not differ very greatly from perfectly
competitive
Other problems with concentration ratios concern determining the
appropriate market. Do we look at all of agriculture as a single market
or do we just look at egg producers or pumpkin growers as the market?
Jim Devine wrote:
it depends on one's time frame. Compared to the "good old daze" of
Friends, Saturday marks the third anniversary of my father's death.
Each year I try to do a couple of things in his honor. I read a war
memoir each year in appreciation of the importance of WW2 in his life.
This year I read "My Just War" by Gabriel Temkin, a Polish Jewish
refugee who fought in
This message comes to you on behalf of the conference committee of the
Conference of Socialist Economists (CSE).
CSE will be holding a conference on 1st and 2nd July 2000 in London,
entitled Global Capital and Global Struggles; Strategies, Alliances,
Alternatives.
The aim is to promote a
forwarded by Michael Hoover
World Socialist Web Site http://www.wsws.org
Republicans, Clinton White House back funding for US military intervention
in Colombia
By Patrick Martin
5 April 2000
The US House of Representatives voted March 30
to approve $1.7 billion in funding for
KANSAS FIRES FREETHINKER PROFESSOR
Texans know Fred Whitehead, Ph.D. from his talk on Freethought history at
the 1999 Atheist Alliance convention and his research into Comfort's German
Freethinkers. Fred is an outspoken advocate of freethought nationally and
at his university. It got him fired
Comrades, is this at all helpful?
--- Forwarded Message Follows ---
From: "Michael Albert" [EMAIL PROTECTED]
Here is today's ZNet Commentary Delivery from Patrick Bond.
If you pass this comment along to others, please include an
explanation that Commentaries are a premium sent
From NY Times, April 6, 2000 "Africa's Diamond Wars"
Full article at:
http://www.nytimes.com/library/world/africa/040600africa-diamonds.html
Exploiting a Continent
The miseries of modern Africa are, in many ways, a legacy of its history.
In the case of both Angola and Congo, colonialism
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