corporatist economic capture

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Deflation: The Failed Macroeconomic Paradigm Plumbs New Depths of Self-Parody, by William Black NEP, UMKC

Patient bleeding out? Don’t treat the bleed; keep the crash cart nearby

Imagine you were a doctor in the ER when a patient was brought in presenting symptoms indicating a likely internal bleed. Here are the two critical questions you face.
Would you (a) find and stop the bleed or (b) wheel the patient off to a “recovery” room with instructions to alert the crash cart to be ready to try to revive the patient should he go into cardiac arrest due to the continued, untreated bleed?

Interview by Bill Moyer of Yves Smith and Dean Baker.

The video seems to be the whole interview. It is worth a couple of years of economics coursework under a ordinary US university, imo.

https://www.youtube.com/watch?v=_-Uqk-Z3Cdk

Walmart Flash Mob Video: Banned by Facebook

This You tube video has been reported to Facebook as "abusive," So this is my work around.

http://www.youtube.com/watch?v=FuCNH7dqZxg&feature=youtu.be

Stop Larry Summers Before He Messes Up Again by William Greider on July 20, 2013 The Nation

Washington insiders are spreading an alarming news alert. Barack Obama, I am told, is on the brink of making a terrible mistake by appointing Lawrence Summers as the new chairman of the Federal Reserve. That sounds improbable, since Summers is a toxic retread from the old boys’ network and a nettlesome egotist who offended just about everyone during his previous tours in government. More to the point, Summers was a central player in the grave governing errors that led to the financial collapse and a ruined economy.

A Correspondence with World Bank Whistleblower Karen Hudes, The First Order of Business. Christof Lehmann CNBC

See also the RT interview with Karen Hudes above

There are few who doubt that World Bank whistleblower Karen Hudes is one courageous woman. Hudes, who worked 20 years in the World Bank´s legal department, reported corruption by a conglomerate or megabank, which according to Hudes is responsible for corruption in the Bretton Woods institutions. A cartel which effectively has the U.S. Federal Government under arrest, and which is likely to maneuver the world into a global currency war and a breakdown of the world financial system and trade.

Discrediting Regulation: from George Stigler to Tyson’s Fraud-Free Carbon Tax Fantasy by Willaim Black UMKC, NEP blog

Laura D’Andrea Tyson (President Clinton’s principal economist) has written an ode to a “carbon tax” that does not acknowledge a single disadvantage or substantive (as opposed to political) concern with such a tax. A carbon tax can have advantages, but her article oversells the idea and ignores the severe concerns about such a tax. Her article demonstrates why the Clinton administration’s anti-regulatory and fiscal policies helped sow the seeds of ongoing financial disaster. (The Bush administration watered and fertilized those seeds and we all reaped the whirlwind.)

Revealed Biases: Why MMT Critics Continue to Rely on Strawman Arguments William Black, UMKC, NEP blog

Economists of nearly every flavor believe in the concept of “revealed preferences.” What matters is not what people say they will do in a hypothetical situation, but what they actually do. Their actions speak more credibly than their words. In this column I announce a related concept: “revealed biases.”

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