"What Would a “Good” Banking System Look Like?" by Michael Hudson, UMKC distinguished professor, Jan. 29th, 2012
Dear readers, there are brief moments when I am embarrassed by how many articles I've reposted by Michael Hudson, but really, his material is awesomely deep and broad, and the creme of current institutional economics. This is also the question that I had to pose to myself at one point as a basis to sort one agenda for monetary and economic reform in preference to other sources claiming to have something relevant to add to the process. Focusing in upon the nature of the economic outcomes from historical fiscal policies, not the emptied positivistic econo-ideology.
Monetary and Fiscal Policy for Sovereign Currencies Randall Wray, UMKC, New Economic Perspectives, Jan. 2012
Hello readers, This article is a piece of a monetary primer that L. Randall Wray as been developing. It is a fairly clear review of the principles and implications of Lerner's Functional Finance. as we go, Tadit
"Why Latin America calls on philosophers" Santiago Zabala, University of Barcelona, Al Jazeera English
Hello there traveler, This is fairly succinct statement of perspective congenial with a metaphysics of "being." "Historical" is probably the intent of Marx and others within the domain of institutional economics. Though I greatly appreciate Zabala's essay, the absent link is that the mode of socialization involved omits fiscal policies other than as defined to reduce inequality. It is also true that the influence of the imperial north has been embedded by western context political economics, ie neo-classical and monopolist.
Readers, this is offered mostly as a confirmation of other articles on this topic that have been posted here. The same attribution can be applied to the corporatist lemmings that are driving the the current dash into the sea. The next phase of the reaction to the econo-ideology which has both caused the original melt-down and now this entirely wrong and un-necessary econo-ideological plundering of the nations hardest hit by the culture of fraud and exemption oiled by the purchase of politicians at a wholesale rate.
Readers, This is the article that Wray is referring to in the article below. Tadit
Okay, Samuelson actually wants to say goodbye to Keynes, but he would have had a better case if he was talking about Darwin and the theory of evolution. After all, when we have seen nothing but confirming evidence for years, why should we still accept the theory?
Samuelson tells readers:
It’s a Funny World, News Recap on the Eve of Xmas
the original posting is at http://www.economonitor.com/lrwray/2011/12/21/payroll-tax-holidays-and-mmt-it’s-a-funny-world-news-recap-on-the-eve-of-xmas/?
As Mae Moore says, “It’s a Funny World” (2002). Let’s try to make sense of two news reports. Help me if you can.
BERNANKE’S OBFUSCATION CONTINUES: THE FED’S $29 TRILLION BAIL-OUT OF WALL STREET By L. Randall Wray UMKC, Great Leap Forward Dec
Since the global financial crisis began in 2007, Chairman Bernanke has striven to save Wall Street’s biggest banks while concealing his actions from Congress by a thick veil of secrecy. It literally took an act of Congress plus a Freedom of Information Act lawsuit by Bloomberg to get him to finally release much of the information surrounding the Fed’s actions. Since that release, there have been several reports that tallied up the Fed’s largess. Most recently, Bloomberg provided an in-depth analysis of Fed lending to the biggest banks, reporting a sum of $7.77 trillion.
Europe’s Transition From Social Democracy to Oligarchy By Michael Hudson, UMKC, New Economic Perspectives, Dec. 3rd, 2011
Readers, this is a rather complete analysis, and as usual for Michael Hudson, well informed by history. I'm kind of swamped right now, so I will try to come back to this. Tadit
This article was first published by Frankfurter Allgemeine Zeitung, Dec. 3, 2011, as “Der Krieg der Banken gegen das Volk.”
On November 3, 2011, Alan Minsky interviewed me on KPFK’s program, “Building a Powerful Movement in the United States” in preparation for an Occupy L.A. teach-in. Listen to the interview.
To clarify my points I have edited and expanded my answers from the interview transcript.
Alan Minsky: I am joined now by Michael Hudson. He is a distinguished research professor of economics at the University of Missouri-Kansas City, and also is president of the Institute for the Study of Long Term Economic Trends. Welcome to the show, Michael.
Michael Hudson: Thank you very much.
Occupy the Fiscal Debate: Another US Economy is Possible With Economic Literacy from Tadit Anderson, Re-Imagining Economics
Readers, As of Nov. 14th, 2011 what is now posted below is the final draft as has been presented/delivered to the co-chairs of Ohio Green Party, one in person and one by email. (break, here)The idea came to me recently that there is an urgent need for actually progressive candidates to be literate, as in able to speak publicly and persuasively, about economic, monetary, and fiscal issues, particularly in the forthcoming "presidential"election. This proposal is targeted for the Ohio Green Party, via the local Columbus Green Party process. Comments toward improving the proposal will be helpful.