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Lessons Unlearned By Henry CK Liu

Readers: Henry C.K. Liu is a major economist who is outside of conventional economics in that he makes more sense by far than most of the "free market/Neo-Classical" courtier economists. He, as far I have been able to discover, has not published any books, though he has written enough related articles to fill a shelf by himself. He is also a multi-dimensional economist in that he is at home within international finance and political policies and within historical contexts.

Tragedy of the Commons as a Myth

Reader: While this award as related to the issue of the Commons is applauded, as with the awarding of the Nobel Peace Prize to PotUS B. H. Obama without demonstrating really any related accomplishments, I believe that this recognition will be turned on its head and into a justification for deregulation, by the ideology based economists, which still represents the majority. The shift to a commons based economics is going to require the establishment of a commons related set of values and culture, or the tragedy will be enlarged.

TARP on Steroids (Why not, the courtier economists and the politicians are still on the take, and ...)

Reader: The wag's definition of insanity is the tendency to repeat behavior with increased loyalty that has not yet produced the desired effects. Both the premise of the expansion of executive power, in daft admiration of GB Jr's grand fantasies of potency and the premise that Wall Street banking defines itself as the whole basis of the economy will take us down the wrong path, toward more financialization. This process will produce profits for the brokers and their mis-managers and turns the rest of the sovereign population into serfs.

US Steelworkers Form Collaboration with Mondragon Federation of Cooperatives

Readers: This is an interesting piece of news. Hopefully, this will accomplish more that the much vaunted Apollo Project which has been in existence for several years now, and hasn't produced much more than a website and a lot of fanfare. This is quite a test for Mondragon as well.

"The End" by Michael Lewis who wrote Liar’s Poker as an expose of Wall Street's Culture of Greed

Readers: This article is about a year old at this point, and is still worth reading. It is written in a conversational and story telling style and is an easy read.

The True Levellers Standard Advanced: Or, The State of Community Opened, and Presented to the Sons of Men.

Reader: This is far less contemporary, 1649 CE to be more precise, and Gerrard Winstanley, as the rural representative of the English Levelers, was important for several reasons. His piece as in treating the commons as it was intended under the Covenant of the Forest (it is archived in the pamphlets and Papers section here) was possibly the earliest push back against the hedging or privatization of the commons by the Monarchy and the wealthy which generally acted in whose interests.

Class Action Law Suit Claims "Lender" Destroyed Records

Readers: First this article continues a financial myth that the mortgage issuer is "lending" the mortgagee money, which is flatly wrong. It is the signature of the mortgagee upon the contractual document known as a "mortgage" which gives that "mortgage" value. The degree of leveraging perpetrated in reselling or securitizing this contract as an asset remains generally a mystery,and it could easily be near infinite.

L.E.T.S. C.R.E.-ate a more Cooperative and Community Friendly Economics

Readers: see http://www.economics.arawakcity.org/node/699 for a much more detail version 08/18/10

The Time Has Come for Direct Job Creation By L. Randall Wray

According to an ILO report[15] issued before the global economic crisis hit, even though more people were working than ever before, the number of unemployed was also at an all time high of nearly 200 million. Further, "strong economic growth of the last half decade has only had a slight impact on the reduction of workers who live with their families in poverty...", in part because the growth was fueling productivity growth (up 26% in the past decade) but was not creating many new jobs (up only 16.6%).

"Abraham Lincoln's Monetary Policy"

Readers: Apparently this document represents a research project in need of some scholarship.  This document was checked for authenticity by faculty of the University of Missouri, Kansas City Department of Economics. Their commentary comes next. I will follow that with a comment based upoin the general historical context, that begins with identifying Abraham Lincoln as having been a Henry Clay sort of Whig before there was a Republican Party.

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