Research Unit for Political Economy

1998-03-25 Thread Louis Proyect

The Research Unit for Political Economy (RUPE), located in Bombay,
India, brings out a bulletin called "Aspects of India's Economy"
published 4 times a year. RUPE is a two-person outfit comprised of Ms.
Rajani X. Desai, an economist and a young compatriot. Ms. Desai, who
was previously on the editorial board of the well-known "Economic and
Political Weekly" (EPW) for many years decided to leave EPW and
started RUPE with her own retirement funds since EPW was becoming
increasingly commercialized and was accepting advertisements from
corporations.

I have found "Aspects of India's Economy" to be an excellent journal
of political economy which seeks to explain the workings of the
economy of a third-world country (India) in a simple language with
extensive economic data that can be easily understood by the ordinary
lay person. Journals of this type, which present and explain 
concrete economic and social facts from the left progressive 
viewpoint, are increasingly rare in today's climate. At present 
"Aspects" is being published primarily in English with some articles 
being translated into other Indian languages. The intention is to 
publish it in the major Indian languages for which support is 
required. The primary purpose of "Aspects" is to provide a 
theoretical weapon in the hands of political activists who are 
fighting the comprador capitalist class implememting IMF-World Bank 
structural adjustment programs in third-world countries like India.

As an example, the January-March 1997 issue of "Aspects" contains
articles on "Union Budget 1997-98", "Welfare, agriculture slashed",
"Road to Mexico", "Why stagnation", "Black money blessed", "Plant
patenting alarm", etc.

In the spirit of international solidarity and in order to understand
the workings of a third-world economy from those who are under 
the boot of international and comprador finance capital, I urge the 
comrades and all progressive people of this list to subscribe to 
this journal. The annual subscription price (4 issues) is only $11 
which includes postage. Please send your subscription orders 
(personal checks) in the name of:

 Research Unit for Political Economy
 18, Peter Marcel Building
 Plot 941, Prabhadevi (Opposite Prabhadevi Temple) 
 Bombay 400025, 
 INDIA

 Phone: 91-22-4220492 

Below is reproduced an editorial from "Aspects no. 1, July 1990 and 
then some economic statistics on the effects of "Structural 
Adjustment" (imperialism) on the people of India during 1991-1994 
which RUPE has summarized.

S. Chatterjee


   Why 'Aspects'?
  [Editorial of "Aspects", no. 1, July 1990]

The economy should be the concern of ordinary people. For it is
they who work it. And the quality of their lives, their joys and
tragedies, are decided by the way the economy functions. Unemployment
eats into their very existence; retrenchment with modernisation throws
them out of production and livelihood; a retrograde agriculture keeps
most of them depressed without the wherewithal for producing
surpluses; drought and flood in such rural conditions drive some to
the cities where they add to the insecure wretched seeking odd jobs at
any wage. This is twentieth century India.

For four decades and more our country has been ruled using the
rhetoric of "planning" and even "socialism". Still people are being
told that their condition will improve with this or that change of
policy. Most people's lives, however, have gotten worse. 

As rulers have ruled, economists have advised and are increasingly
giving consent. Economists cannot change the economy; they are a
profession as any other. People can and must for their own sake. For
economic history is made in political terms. And the sooner people
become conscious of this and are in their own democratic forums
organised to effect it, the sooner will such change take place. For
this they must understand how the economy functions; why it functions
in ways opposite to the stated objectives of policy; why their
economic condition is what it is; and what premises must change -- how
the constitution of society itself must change -- to bring precept and
practice into alignment.

"Aspects of India's Economy" is aimed to reach ordinary people. It
can only reach them indirectly, in the present circumstances of
illiteracy and diversity of language, through individuals and
associations who, having direct contact with broad sections of people,
can widely disseminate its contents. "Aspects" will seek to inform on
economic policy, on the mechanics and links of our country's economic
life, and on the facts and statistics that are given to us officially
and through academia.

Most papers reflect on the economy from the angle of business
interests, or of ostensibly all classes and interests. This generally
is called a balanced view of the economy. Such a balance blurs issues
as it fails to put a consistent focus on the basic issues and to
relate all other issues as secondary to them. For instance,
retrenchmen

Re: labor rights in Vietnam

1998-03-25 Thread Rakesh Bhandari

I have been looking through Gabriel Kolko's Anatomy of Peace; it is quite
informative on economic policy, labor and general social conditions in
Vietnam. 
rb






FWD: Senior Researcher Position Open

1998-03-25 Thread Robert Naiman

> Please Post - 3/23/98
>
>Senior Researcher for
>Public Citizen's Global Trade Watch
>
>Global Trade Watch is the Public Citizen group that fights for trade and
>other economic policies that  promote consumer protection, government and
>corporate accountability, and a healthy environment through research,
>lobbying, public education and the media. Public Citizen is a national
>consumer and environmental organization founded by Ralph Nader in 1971.
>
>THIS POSITION IS DIFFERENT FROM THE SENIOR RESEARCHER-EDITOR POSITION
>PREVIOUSLY ADVERTISED.
>
>DESCRIPTION: The Senior Researcher designs and writes major research
>reports, conducts research and develops materials for a wide range of users,
>including congressional staff, grassroots organizers, reporters and the
>general public.
>
>RESPONSIBILITIES:
>   Research and analyze international  trade and economic globalization
>issues;
>   Convert research into fact sheets, articles, and other educational
>materials for congressional staff, press, and organizers;
>   Track issues by attending hearings, reading periodicals, and attending
>conferences;
>   Assist with research for  lobbying activities as needed;
>   Develop and maintain relevant databases;
>   Assist with outreach to coalition partners and activists.
>
>QUALIFICATIONS:
>Experience:Minimum 2 years research and writing or advocacy/legislative
>experience.
>Education: College degree required, advanced degree preferred.
>Knowledge: Understanding of economics and statistics required;  knowledge of
>fundamental research practices including quantitative analysis, electronic
>research systems, sourcing and citing protocols; familiarity with the
>legislative process, international trade and/or environmental and labor
>issues. Spanish language helpful.
>Skills:Excellent writing, research and organizational skills; 
>familiarity
>with database and spreadsheet  programs.
>
>CAPABILITIES:  Ability to work with a wide range of people, perform well
>under pressure.
>
>CONDITIONS:   Walking two flights of stairs and several blocks to and from
>congressional offices. Nonsmoking workplace.
>
>SALARY & BENEFITS: $27,720 or slightly higher; three weeks vacation;
>excellent benefits.
>
>TO APPLY:   Send resume and writing sample to Chris McGinn, Global Trade
>Watch,
>  fax: (202) 547-7392,  215 Pennsylvania Avenue SE,  3rd floor,
>Washington, DC, 20003.
>
>Public Citizen is an equal opportunity employer.   (Non-smoking workplace)






re:state-war

1998-03-25 Thread Ricardo Duchesne

> Date sent:  Tue, 24 Mar 1998 15:03:28 -0800
> Send reply to:  [EMAIL PROTECTED]
> From:   James Devine <[EMAIL PROTECTED]>
> To: [EMAIL PROTECTED]
> Subject:the state [was: what's in a name?]


 
> Ricardo D responds: >Yes, the relative autonomy of the state is a well
> established idea within marxist theory, starting with Marx himself... The
> contending issue between marxists and weberians today is that the state may
> do "much more than" the relative autonomy concept allows for. It is in this
> context that Skocpol should be seen - that is, her argument takes account
> of the more sophisticated marxian version... Skocpol goes beyond the
> sophisticated marxist version in seeing the state as an administra-
> tive/military organization with its own unique interests. Although the
> state relies on the support of the dominant class, it may do things against
> this class to cultivate or protect its own geo-political interests.<

Devine:
 
> I think Marx would agree with this "weberian" idea (at least Draper's
> exhaustive summary of his ideas would). In modern times, the division
> between the state sector and the economy (or civil society) arose with the
> rise of capitalism. As is usual with the societal division of labor, there
> are conflicting interests between different industries, where of course
> government is just another "industry" (albeit a very important one). This
> is the kind of thing that Marx was talking about in his analysis of the
> type of state autonomy associated with Bonapartism. Draper, interestingly
> enough, summarizes Marx's views on state autonomy using a language similar
> to that of the familiar principal/agent problem, with the bourgeoisie as
> the principal and the state bureaucracy as the agent. The latter doesn't
> always do what the former wants. 

For weberians the state is not "just another industry"; it is 
precisely this kind of economic reductionism which they reject. When 
Theda Skocpol, for example, looks at the rise of the welfare state in 
the US she distinctly says this was no mere strategy to preserve the 
ultimate goals of capitalist accumulation; rather, the state had its 
own *political* interests. However, I know too little about Skocpol's 
analysis of the New Deal to pursue this point further; I can make the 
same theoretical point in the context of what you say below.  
 
> This conflict is not omnipresent: the "geo-political interests" of the
> state bureaucracy often mesh well with the expansionary interests of capital. 

Although they do often coincide they are not the same. Simply, 
at one point capitalism did not exist yet there were military 
conflicts.  
 
> It seems to me that the "weberian" emphasis on the state as having "its own
> unique interests" is more of a response to what I called "received Marxian
> political theory" (which includes such "sophisticated" authors as
> Poulantzas and Miliband) however sophisticated than to Marx's own theory
> (as Draper presents it). 


It was Poulantzas and Miliband, in their own ways, who first 
developed the concept of the relative autonomy of the state, so if 
you want to use this concept you should at least aknowledge its 
origins. What you call  "received Marxian political theory" has 
long been challenged by countless of people since the 60s, so perhaps 
yo shall called it the "abandoned theory". 

ricardo:

> >For weberians warfare is a fundamental factor in the evolution of the
> state, of even greater importance than class conflict.<

Devine:
 
> Since Marxists see warfare as a "fundamental factor" -- an important aspect
> -- of any class society, including capitalism, there's no big disagreement
> here. It sounds like one of the many pointless academic arguments floating
> around.
> 
> Where they had a state as a separate segment of society, pre-capitalist
> class societies wedded the class-oppression aspect of the state and the
> attack-other-states aspect of the state.[*] The division between the
> domestic police and the armed forces arises only when class relations have
> been largely pacified. But when the oppressed get uppity, martial law is
> declared and the superficial distinction between police and army fades (as
> we discovered in L.A. six years ago). In systems such as feudalism or
> chattel slavery, where direct physical coercion is applied as part of
> normal "economic" relations (i.e., where the division between "politics"
> and "economics" is even fuzzier than usual, where the state is not a
> separate sector), the police _are_ the army (and vice-versa). The slave
> system involved a marriage between the class-oppression and
> externally-oriented functions in that while the army was needed to keep the
> slaves down, external war was needed to replenish the stock of slaves. Etc. 

Pointless?  Again, for weberians you cannot identify warfare with 
class coercion, which is what you do above. I know marxists have tried 
to convince us that because pre

FWD: URGENT ACTION: STOP MAI IN IMF!

1998-03-25 Thread Robert Naiman

>-- Forwarded message --
>Date: Wed, 25 Mar 1998 14:18:24 -0500 (EST)
>From: Chantell Taylor <[EMAIL PROTECTED]>
>To: Multiple recipients of list MAI-NOT <[EMAIL PROTECTED]>
>Subject: URGENT ACTION: STOP MAI IN IMF!
>
>The following sign-on letter is being circulated as an urgent action against
>the upcoming vote to change the IMF's charter incorporating MAI provisions.
>Show your continued solidarity against the MAI by signing the letter today!
>A note following this email will explain further the MAI in IMF.
>
>Proponents are trying to call the vote before Spring Recess in US Congress
>(April 2nd) so time is of the essence - urgent responses needed.
>
>Thanks for your support!
>
>Chantell
>
>
>PLEASE SIGN-ON TO THIS DRAFT LETTER!!  DEADLINE: THURSDAY (3/26, 10:00 Am)
>CALL ROSANNA AT THE CITIZEN'S TRADE CAMPAIGN, 202-783-7400 X 213 TO SIGN-ON
>(Attached are pertinent background materials)
>
>THE MAI AT THE IMF
>"Welcome to the MAI Shell Game."
>
>Dear Representative:
>
>   We, the undersigned groups, would like to bring to your attention a little
>known proposal that is circulating through the halls of the IMF that may
>give you further reason to oppose the $18 billion funding request that the
>Administration is seeking for the IMF.  The proposal is an amendment -the
>first in the IMF's history- to the IMF's Articles of Agreement.  The
>Amendment is based on some of the most extreme provisions of the MAI- those
>which force participatory governments to eliminate restrictions on capital
>flows and foreign ownership of land and other investments.
>
>   We urge you to support the ___Amendment to the House FY98 Supplemental
>Appropriations Bill which requires the U.S. Secretary of the Treasury to
>vote "no" when the new Article is proposed at the IMF Board of Governors
>meeting in mid-April or lose the additional $18 billion funding increase.
>
>   Amending the Articles of Agreement of the IMF requires an 85 percent voting
>majority by the IMF Board of Governors (mostly heads of finance ministries
>or central banks).  As the US holds 17 percent of the votes, the US
>Secretary of the Treasury could effectively veto any amendment of the
>Articles of Agreement.
>
>   If the amendment passes, all member countries of the IMF, including the
>United States, will be forced to accept the capital accounts liberalization
>provision of the MAI which forces governments to remove barriers to
>international capital flows.  The IMF would be able to dictate the extent of
>the controls a country may maintain, the rate of the capital account
>liberalization, and changes in macroeconomic policy.
>
>   Incredibly, Congress has not been informed of this change nor its
>substantial implications.  The Administration is apparently seeking to do
>through the secretive process of the IMF what it has thus far been unable to
>accomplish through the MAI negotiations currently being held at the OECD.
>
>   At the very moment that citizen concern about the provisions contained in
>the MAI, such as "national treatment" of all foreign investment, is slowing
>down negotiations at the OECD, the
>
>
>DRAFT Letter p.2
>
>IMF is moving to assert its own global authority over such matters.
>
>   Specifically, we oppose giving the IMF this authority for the following
>reasons:
>
>   o The IMF operates behind closed doors and cannot be held accountable
>through any kind of democratic process.
>
>   o Speculative investment will be encouraged by the proposed IMF by-laws
>change because it would prevent countries from setting up so-called
>"financial speed bumps" which slow the outflow of short-term capital.  A
>Chilean "speed bump" law helped to stem a possible financial panic in Latin
>America at the time of the 1994 Mexico peso devaluation.
>
>   o Speculative investments will be further encouraged by preventing
>countries from regulating the nature of acceptable investments in their own
>country.  In the U.S., current law restricts foreign ownership of media, and
>certain national security related industries.
>
>   o The objective of promoting the free flow of capital that benefits
>investors is given priority over other objectives relating to the democratic
>right to consider the purpose of investments in shaping the future of a
>country, and to values such as human rights, protection of workers and the
>environment.
>
>   Therefore, we strongly urge you to deny the IMF bureaucracy this
>unprecedented authority over the sovereign rights of the United States and
>other countries to control capital flows within their national borders.
>
>   Sincerely,






Re: Cyberjournal * I PROTEST * - version 2.1

1998-03-25 Thread valis

Hello, Richard - BTW, note how my e-address really goes: 
valis <[EMAIL PROTECTED]> ("earth" is a server) - and all Cc'd.

I just gave the last three years of the CPSR timeline a look at
the organization's Website.  Perhaps I missed something significant,
but my conclusion is that you and CJ have simply become a major
ideological embarrassment and real-life political liability for 
your hosts; you espouse revolution, they do not, and it's that simple.

This disruption is a blessing in disguise; it's just as well that
you find yourself a truly compatible host before proceeding, 
for from this point on a rough stretch of road awaits us in any case. 

 valis
 Occupied America


   "A community will evolve only when 
the people control their means of communication."
   -- Frantz Fanon






American Indians and the Department of Defense

1998-03-25 Thread Louis Proyect

Federally recognized Indian tribes and other Native American organizations
also can affect DoD [Department of Defense] agency land management
decision-making in the field, particularly when an affected tribe or Native
American organization and interested environmental organizations coordinate
their activities to advance the attainment of common political objectives.

The 50 states contain 2.27 billion acres of land. Of that amount, 650
million acres of public land is owned by the United States, 25 million
acres of which are administered by DoD agencies. The other 625 million
acres are administered by other federal agencies, principally the Bureau of
Land Management and the National Park and U. S. Fish and Wildlife Services
inside the Department of the Interior, and the National Forest Service
inside the Department of Agriculture.

The Department of Defense manages 25 million acres of federal land. About
16 million acres of this land is withdrawn from the public domain under
varying conditions for return to the public domain and the extent to which
it may be accessed by the public. The military will also make occasional
requests for temporary use of lands and virtually any expansion or
rearrangement of DoD will involve accessing lands that are now in the
public domain.

If a DoD agency's use of its own land, of withdrawn public land, or of
public land administered by a non-DoD agency may affect members Federally
recognized Indian tribe, the President's April 29, 1994 memorandum requires
the DoD agency to consult with the tribe to using the land. Independent of
the memorandum's admonition that the agency do so, consultation is a sound
and cost-effective policy that will advance the agency's accomplishment of
its ion.

The reason is simple.

>From the view out the window of an F-15 aircraft overflying Alaska or 22
coterminous states west of the Mississippi River, most of the (largely
public land owned by the United States) appears uninhabited. However,
contrary to appearance, every acre of public land and the western states
has been allocated (in a political sense) to one or more of the groups
whose members use the public domain--ranchers, mining companies, timber
companies, hunters, runners, wilderness area backpackers, mountain bike
enthusiasts, four-wheel-drive off-road dune buggy owners, fly fishermen,
and so forth.

Each of the aforementioned groups has a trade association or
non-organization that employs lobbyists, attorneys, and professional staff
to represent its members' interests on Capitol Hill, inside the executive
branch, and in the states where the public land in the groups' members
claim an interest is located--a fact of life that has serious consequences
for DoD agencies' use of land for defense purposes.

Simply put, any DoD agency that asks a non-DoD agency for permission to use
public land that the non-DoD agency administers can expect that its request
will be opposed by one or more groups whose members claim an interest in
the same acreage. For that reason, prior to making such a request, the DoD
agency should identify the groups that can be expected to assert an
interest, take the legitimate interests of those groups into account, and,
to the extent practicable, accommodate their interests.

Of the groups holding an interest in public land, many believe that Indian
tribes have the most compelling claims because their members' ancestors
used the land for generations before Congress extinguished their aboriginal
title.

For that reason, tribal members who hunt or graze sheep or cattle or
otherwise use DoD or non-DoD agency-administered public land have a
stronger moral argument that their use of the land should not be curtailed
or disrupted (even if this result inconveniences DoD agencies) than do
other groups that claim an interest in the public land. As the following
case studies demonstrate, other groups (particularly environmental
organizations) recognize that fact, and frequently include Indian tribes in
their efforts to disallow DoD agencies from using public land in which the
groups' members claim an interest.

Idaho Training Range

The Air Force has recently been forced to abandon long-held plans to
establish an Idaho Training Range (ITR) in the southwest corner of the
state. Although a legal suit related to procedural implementation of the
National Environmental Policy Act (NEPA) was the immediate cause of the Air
Force's decision to abandon plans for the range, the decision was the
culmination of lengthy political controversy in which Native American
concerns played an important role.

The purpose of the range was to expand the area available to train flight
crews stationed at Mountain Home Air Force Base and Gowen Field near Boise.
Aircraft participating in training sorties would have delivered training
ordnance to target areas inside the range, as well as set off flares. The
aircraft would have flown at supersonic speed and at low altitude.

Idaho environmental and sportsmen's 

U.S. post-war hegemony and deindustrialized Detroit

1998-03-25 Thread john gulick

A couple of completely unrelated questions for the pen-l crowd:

1) A statistic often trotted out to attest to the uncontested hegemony of the
immediate post-war U.S. is the fact that U.S. industrial output comprised
more than 50 percent of total world industrial output. Is this figure
artificially inflated by the overvaluation of the dollar ? Or since
the dollar was the international currency at that point in time (the
Bretton Woods gold standard) and the U.S. actually had massive trade
surplusses was the dollar _not_ overvalued. If we used the PPP criteria
which y'all have been discussing of late would the U.S. share of total
world industrial output in 1950 drop significantly ?

2) In the early 1990's under Republican Governor John Engle (is that the
correct name ?) the state of Michigan completely did away with general
assistance for households w/o dependent children. What have been the
consequences of this in deindustrializied municipalities such as Detroit
and Flint where rates of structural unemployment must rate way above 10
percent ? Obviously everybody kicked off GA cannot find full-time or even 
part-time low-wage employment flipping burgers or checking out video
rentals, and even the informal sector (i.e. the criminalized drug trade)
can absorb so many people. Has the rate of incarceration boomed ? Have
property crimes escalated ? Or has there been a small trickle of cash
circulating around these communities from what remains of the post-
welfare reform transfer payment system (i.e. men who are boyfriends and
men and women who are family and friends of AFDC recipients trying to
get by collectively on ultra-meager AFDC allotments) ?

You can reply to me publicly or privately.

Thanks in advance,

John Gulick

John Gulick
Ph. D. Candidate
Sociology Graduate Program
University of California-Santa Cruz
(415) 643-8568
[EMAIL PROTECTED]






Re: U.S. post-war hegemony and deindustrialized Detroit

1998-03-25 Thread valis

> A couple of completely unrelated questions for the pen-l crowd:
> 
> 1) A statistic often trotted out to attest to the uncontested hegemony of the
> immediate post-war U.S. is the fact that U.S. industrial output comprised
> more than 50 percent of total world industrial output. Is this figure
> artificially inflated by the overvaluation of the dollar ? Or since
> the dollar was the international currency at that point in time (the
> Bretton Woods gold standard) and the U.S. actually had massive trade
> surplusses was the dollar _not_ overvalued. If we used the PPP criteria
> which y'all have been discussing of late would the U.S. share of total
> world industrial output in 1950 drop significantly ?

Just fishing with a boat hook, but a lot of that 50% figure would come
from capital goods and rolling stock that replaced what the war destroyed
in Europe and Japan; processed foreign resources, i.e. Arab oil,
Jamaican bauxite, might account for more of it.  America was, in terms
dear to Hollywood propagandese, the Mighty Powerhouse of Destruction and 
Reconstruction.  Pardon the poor Axis folks if they had a different 
slant on the political economy of those festivities.
 
> 2) In the early 1990's under Republican Governor John Engle (is that the
> correct name ?) the state of Michigan completely did away with general
> assistance for households w/o dependent children. 

Effectively those "households w/o dependent children" boiled down to
single black males anywhere from 18 to 50 years old, John.

> What have been the
> consequences of this in deindustrializied municipalities such as Detroit
> and Flint where rates of structural unemployment must rate way above 10
> percent ? Obviously everybody kicked off GA cannot find full-time or even 
> part-time low-wage employment flipping burgers or checking out video
> rentals, and even the informal sector (i.e. the criminalized drug trade)
> can absorb so many people. 

I can't speak for just lately, but the effect for the abovementioned 
during the first few years after the GA scrub was about as close to 
genocide as can be achieved without dedicated death camp machinery.
Hundreds and hundreds of single men, mostly black, were simply out there
and into raw survival somehow.  Very few people gave a shit about them.

>  Has the rate of incarceration boomed ? Have
> property crimes escalated ? Or has there been a small trickle of cash
> circulating around these communities from what remains of the post-
> welfare reform transfer payment system (i.e. men who are boyfriends and
> men and women who are family and friends of AFDC recipients trying to
> get by collectively on ultra-meager AFDC allotments) ?

The world's largest walled prison, at Jackson, just outside Detroit,
proved to have an insatiable appetite.  Yes, more crime there was.
Some died, some others found their way elsewhere.
Being in Detroit on a secret mission in '91, I can attest to its having 
possessed the deadest downtown imaginable; any square mile of Albania
chosen at random must have seen more currency change hands.
For the sorry details of survival, the socio-folks at Henry Ford CC in 
Dearborn or at Wayne State can tell you more than you could ever 
possibly wish to know.
  valis








Dematerialization

1998-03-25 Thread valis

==> Two days ago Mark Jones used this term in connection with
possibilities of capitalism's demise; it was the first time 
I'd seen the concept deployed anywhere outside of ghost stories 
(though perhaps any notion of capitalist mortality is no more 
than a kind of ghost story as well).
Whatever the case, AltaVista yanked the following crystal-clear
explanation out of the ether, leaving me with the sensation of
being trapped in deep space with a psychotic mainframe `a la "2001."
Can anyone hear me and offer a human override?
 valis


   Dematerialization
   
Introduction

   The ultimate goal of any Capital Market suite of systems is to
   eliminate the security certificate and to rely on electronic record
   keeping within a Central Depository. There are various approaches
   which can be used to arrive at this ultimate goal.
   
Immobilization

   The step which many markets have taken towards the eventual
   elimination of all security certificates is to immobilize the
   certificates once they are presented for deposit into the Central
   Depository. In an immobilization process there are still security
   certificates but the certificates are held by or on behalf of the
   Central Depository. The certificates can either be held in street name
   or in the nominee name of the Central Depository. To reduce the size
   of the certificate inventory, the concept of "jumbo" certificates is
   often used. Withdrawals are usually allowed from the immobilized
   inventory of security certificates and a Certificate Management System
   is required to keep track of and reconcile the inventory of
   certificates. There are often legal reasons why it is necessary to
   adopt an immobilized Depository rather than moving directly to a
   dematerialized Depository.
   
Dematerialization

   In a partially dematerialized environment there are no security
   certificates held by the Central Depository but certificates can still
   be held by individual investors. In a fully dematerialized environment
   there are no security certificates either in the possession of the
   Central Depository or individual investors. Reconciliation of holdings
   is through a comparison of electronic records maintained by the
   Transfer Agent and by the Central Depository. Resolution of
   differences is through examination of respective electronic
   transaction entries. Clearly, the degree of reliance which can be
   placed on the integrity of these electronic records is a major
   determinant in moving to a dematerialized environment.
 _
   
   






Re: a proposed leading indicator

1998-03-25 Thread MScoleman

I have printed my initial statement and Tom Kruse's response below.  Tom,  I
don't disagree with you at all, but my statement was meant to be a sarcastic
commentary on military involvement IN the drug trade, not a comment on the
generosity of the drug fighting budget.  [basically, this is a great example
of how email falls short of face to face communication and formally written
work -- or, sarcasm just don't work in cyberspace]  What I was trying to say,
and clearly failed, was that the military reaps huge cash reserves from being
involved in the sale and distribution of drugs -- and this gives them
untraceable money to spend on other items.  The military attempts at fighting
drugs are a complete and dysmal failure -- local law enforcement types arrest
most druggies, and almost all lower level ones.  I forget what the statistics
are, but the military as put almost NO one in jail for drugs.
maggie coleman [EMAIL PROTECTED]

maggie says:
<< 
 >i think including illicit drugs is a good idea, but as an indicator of how
 >much cash the american military complex has added to its supply.  maggie
 >coleman [EMAIL PROTECTED]
 
Tom Kruse says:
 According to the official data, it's not all that impressive -- just around
 a billion or so, that is, just 0.37% of the DOD budget is dedicated to the
 war on drugs, and this is down slightly from a high point in 1991-92.
 
 In fact, according to the Washington Office on Latin America (WOLA), which
 has done a great deal of work on militarization of the war on drugs, there
 is much reluctance in the ranks of DOD to get involved more, and thus get
 stuck with the blame for "another Vietnam".  In journals such as Military
 Review, you'll see now and again DOD drug warriors (look for the USSOUTHCOM
 by line) lamenting the no-win terms of this new imbroglio.
 
 On the other hand, there are numerous desk bound drug warriors VERY happy to
 see their appropriations grow year to year.  And they are a powerful force.
 
 If, however, by "american military complex" you meant the narco-enforcement
 complex (a slightly different animal), then yes, mucho dinero has been added
 to the coffers.  And always privileging the supply-side-and- policing
 approach.  Never has demand reduction taken up more than about 32% of drug
 war funding.  And this despite pretty impressive studies by RAND, suggesting
 that to achieve a 1% drug in cocaine consumption you would have to spend:
 
 $783 million on source county control [eradicating coca, etc.], or
 $366 million on interdiction [stopping vessels in the Caribbean, etc.], or
 $246 million on domestic enforcement [more policing!], or just
 $34 million on treatment programs.
 
 (Data for their model building -- both on supply and demand side -- was all
 from 1992.  See Rydell and Everingham, "Controlling Cocaine: Supply vs.
 Demand Programs", Santa Monica, RAND, 1994, Doc. MR-331-ONDCP/A/DPRC., p.
 xi-xix for summary.)
 
 ONDCP was so unhappy with the results of the study they commissioned another
 one.  The Institute for Defense Analysis (IDA) did it, and found, lo and
 behold, for a mere $20 million of source and transit country work, you could
 produce the same 1% drop in cocaine consumption.  Unfortunately for ONDCP
 and IDA, the work was extremely shoddy.  Among the comments in the internal
 peer review were:
 
 "Various features of the argument suggest that the authors started with a
 conclusion and tried to fit a model that would support it rather than
 starting from the data."
 
 "Advocacy analysis and specious arguments will compound the problem of
 organizing and implementing a counterdrug policy and program."
 
 "It is clearly fundamentally flawed in its approach and conclusions and
 reads as if the authors were neither well versed in the drug policy
 literature nor in the standard social sciences, particularly economics."
 
 ... etc.  ONDCP basically buried it.
 
 The big drug war budgets have always been at Justice, which sucks up around
 40% of drug war funding.  For example, in 1997 DOJ took in $6.703 billion of
 a total $15.3 billion (actual); 1998: $7.260 of $15.977 (enacted); and 1999
 $7.760 of $17.069 billion (requested).
 
 And in DOJ, the largest single line item is ... Bureau of Prisons ($2.166
 billion requested for 1999, up from $1.843 billion in 1997), followed by the
 DEA, the only federal agency dedicated 100% to the war on drugs (if you
 leave out the Generals in the bunkers over at ONDCP).
 
 Closing comment: I don't mean to underplay the role of DOD, or the
 powerfully nasty stuff their drug warring produces in Latin America
 particularly.  I am currently working with a group of investigators here in
 the region (colleagues in Peru, Colombia, Ecuador and Brazil) to study the
 "collateral damage" to "fledgling democracies" produced by the drug warring.
 The affects are horrible, should be denounced, etc.  But the more I look at
 the evidence (budgets, imprisonment statistics, lists of abusive asset
 "forfeitures", etc.) 

re:state-war

1998-03-25 Thread James Devine

The following is long and may safely be deleted by those uninterested. Most
of the below is simply responding to Ricardo's misinterpretations. My main
point is though the specifics of "weberian" research on the state
(advocated by Ricardo) may be of interest and useful, on the theoretical
level, there's not much that's new to Marxian political economy. Unless
Ricardo makes an interesting theoretical point in response, this is my last
contribution to this thread on pen-l. The rest will be off-list.

I had written: >> I think Marx would agree with this "weberian" idea (at
least Draper's exhaustive summary of his ideas would). In modern times, the
division between the state sector and the economy (or civil society) arose
with the rise of capitalism. As is usual with the societal division of
labor, there are conflicting interests between different industries, where
of course government is just another "industry" (albeit a very important
one). This is the kind of thing that Marx was talking about in his analysis
of the type of state autonomy associated with Bonapartism. ... <<

Ricardo answers: >For weberians the state is not "just another industry";
it is precisely this kind of economic reductionism which they reject. <

Of course the state isn't _literally_ "just another industry." I used that
phrasing  (note the quote marks around "industry") simply to stress the
point concerning the fact that state and society were once unified but are
no longer so. The definition of state that Marxists use is actually much
the same as Max Weber's (in "Politics as a Vocation"), which he borrowed
and adapted from Leon Trotsky, who was of course a Marxist. The state has a
monopoly of the use of force within a given geographical area. (Note that
this definition avoids the ambiguity of Weber's use of the adjective
"legitimate" before "force." Also, the state isn't the only organization
that uses force; but the state sets the rules concerning its use.) 

I wish people would stop making accusations of "reductionism" in response
to an obviously incomplete statement of a more complex theory. _Any_ theory
looks "reductionist" if it's incomplete. As pen-l people well know, I'm
perfectly willing to expand my thoughts at length to make sure that my
theory is complete in its complexity, but it does take up a lot of time &
space.

>When Theda Skocpol, for example, looks at the rise of the welfare state in
the US she distinctly says this was no mere strategy to preserve the
ultimate goals of capitalist accumulation; rather, the state had its own
*political* interests. However, I know too little about Skocpol's analysis
of the New Deal to pursue this point further...  <

In the case of the rise of the (US federal) welfare state, the actual state
organization outside the military, police, and court system, was pretty
small before the welfare state existed. So it's hard to see it having much
influence here. And the military, police, and courts weren't enthusiasts of
the welfare state. So I would point to struggles in society being the main
factor promoting the welfare state. But I can't argue with Skocpol's
analysis, not having read it. It's enough to say that the idea that the
state has political interests does not contradict Marx's views. 

>> This conflict is not omnipresent: the "geo-political interests" of the
state bureaucracy often mesh well with the expansionary interests of
capital. <<

>Although they do often coincide they are not the same. Simply, at one
point capitalism did not exist yet there were military conflicts.  <

This doesn't disagree with what I said.

>> It seems to me that the "weberian" emphasis on the state as having "its
own unique interests" is more of a response to what I called "received
Marxian  political theory" (which includes such "sophisticated" authors as
Poulantzas and Miliband) ... than to Marx's own theory  (as Draper presents
it). <<

>It was Poulantzas and Miliband, in their own ways, who first developed the
concept of the relative autonomy of the state, so if you want to use this
concept you should at least aknowledge its origins.<

Why? the idea is almost universally accepted by Marxists and can be found
in Marx's own work even if the phrase "r. a." is not used explicitly. I
like a lot of what P and M say, but pen-l is not the venue for
scholasticism, where every idea is footnoted. 

Anyway, the point is that Skocpol was responding to P, M, and others
(received academic Marxist theory) and is many way simply returning to what
Marx said. (This sometimes happens with left critics of Marx.) 

The downplaying of relative autonomy in Marx's work shows up when the state
approximated the 19th century liberal ideal "night-watchman state" (still
advocated by so-called libertarians). When it doesn't, Marx emphasizes the
state's autonomy more.

> What you call  "received Marxian political theory" has long been
challenged by countless of people since the 60s, so perhaps yo[u] shall
called it the "abandoned the

Kosovo

1998-03-25 Thread PHILLPS


For the most part I agree with Barkley on his comments
on Kosovo but I would add a few considerations.

1.  The most recent crackdown on Albanian
separatists was a result of the killing of 4 (?)
Serbian Police in an ambush.  The police
responded by raiding the headquarters of a faction
of the Kosovo Liberation Army.  One may argue that
the scale of the response was inappropriate to the
provocation, but I have heard little about the
American sanctions on Britain for its military
response to IRA terrorism (or the genocide by
Suharto in East Timor.)  It is obvious that the
American response (and the British) is propelled
by something other than principle, though as
Barkely points out, what it is the makes the
US and Albright so war-mongering, I am not sure.

2.  It is abundantly clear that, if Kosovo was
granted independence, it would immediately begin
ethnically cleansing the region of Serbs.  In fact,
ever since I have been going there for 10 years,
there have been (documented) examples of 'cleansing'
done by the Albanians.

3.  The 'poverty' of Kosovo is probably not as
bad as Barkley intimates.  Many Kosovan 'families'
have networks of businesses inother parts of
Yugoslavia (past and present). Eg. in Slovenia
many of the fruit and vegtable stands, pastry
shops and even sum of the pubs are run by
Albanians (and owned by Albanians) who are
obligated by family connections to remit part of
their revenues to Kosovo. (i.e. a colleague
friend told me that when he was in the army,
an Albanian in his unit had to remit part of
his salary to his 'family' back in Kosovo.  The
families ahve the same sort of extended nature
and coersive (though not necessarily criminal)
as the Sicilian families.)

4.  The problem is almost sure to break out in
Macedonia because of the inequality in birth
rates between the Macedonians (Slavs) and the
Albanian minority.  At the present rates it
will not be too many years before the Albanian
population excees the Macedonian as in Kosovo.
The Macedonians also fear ethnic cleansing.  I
was told a couple of years ago (by a Slovene)
that the Macedonian government was exploring
asking the Serbs to provide soldiers to police
its border with Albania to prevent Albanian
migration into Macedonia.  I have no way of
knowing whether or not it is true, but it
does sound plausible.

5.  What is the answer?  I don't know -- but
the US response is only making matters worse.
Already it has brought to prominance and
leadership the ulti-rightist and nationalist
Voyslav (?) Seslj who makes Milosevic look like
a civil rights worker.  God save us from US
foreign policy.

Paul Phillips,
Economics,
University of Manitoba





Kosovo

1998-03-25 Thread Rosser Jr, John Barkley

 Not too long ago my friend (and former debating 
partner on Balkan issues), Paul Phillips, dropped a remark 
on this list about "American support of Kosovan terrorists" 
or something to that effect.  Nobody has remarked on it and 
I have been thinking about it, not quite sure what I think. 
But, upon reading an interesting piece by Dusko Doder in 
the Washington Post this morning, I offer the following and 
inquire of a response from Paul in particular:
 1)  Kosovo has long been the poorest part of the 
former (and what's left of) Yugoslavia, with its income 
relative to the other provinces/republics/nations having 
steadily fallen since 1945.
 2)  Kosovo is the "ancient historic heart of Serbia", 
but only about 10% of the population is ethnically Serb 
today.  The majority are mostly Muslim Albanians (there are 
some Catholic and Orthodox Albanians).
 3)  Kosovo was a part of the Italian-ruled "Greater 
Albania" during WWII.  Tito gave it a measure of self-rule 
and autonomy as a province within the Republic of Serbia in 
the former Yugoslavia.
 4)  In response to alleged discrimination against the 
minority ethnic Serbs, in 1989 Slobodan Milosevic, then Gen 
Sec of the Serbian Communist League, removed the local 
government and imposed a Serb-dominated government in 
Kosovo.  Many observers view this as the beginning of the 
ultimate disintegration of the former Yugoslavia (a point 
that I believe Paul and I differed on in the past on this 
list).
 5)  The unofficial leader of the Kosovars (Albanian 
Kosovans) since has been Ibrahim Rugova who supports 
nonviolent resistance but ultimate independence from 
Yugoslavia.  A shadow de facto Albanian government has been 
established that operates in an underground manner.
 6)  More recently a violent independence movement has 
arisen, the Kosovo Liberation Army.  The recent Serbian 
police attacks were aimed at this group.  It has been 
claimed that there were more than 20 dead women and 
children as a result of that attack.  I am not sure how 
many women and children have been killed by Kosovar 
"terrorists."
 7)  I gather that the KLA has support from Albania and 
from Albanians in Macedonia, but I do not know if or how 
much active support they have from other outsiders, 
especially the US.
 8)  I have trouble seeing why the US would want to 
actively support the KLA very strongly.  Granted it puts 
some pressure on Milosevic whom the US would like to 
enforce the Dayton Agreement in Bosnia-Herzegovina.  OTOH, 
uprisings by Kosovars merely inflames Serb nationalism that 
makes it harder for Milosevic or any other Serbian 
political leader to make or enforce peace agreements with 
anybody anywhere.  It seems to me the US wants a stable 
situation in B-H so it can get its troops out.  I see 
little interest of US capital in Kosovo that would 
overwhelm this strong desire and pressure.  Certainly all 
the pressure in Congress is to get out, not arm the 
Kosovars, who as Muslims get only a certain amount of 
sympathy/support, more so when they appear to be brutally 
slaughtered as has apparently happened recently.
 9)  Doder writes of a Kosovar leader, Adem Demaci, who 
spent 29 years in Yugoslav jails for protesting human 
rights violations.  Apparently Demaci has supported the 
actions of the KLA but also argues against independence and 
for a confederation within Yugoslavia wherein Kosovo is 
granted equal status with Serbia and Montenegro.  Doder 
approves of this.  Might this not be a reasonable way to 
go?
 10)  One person's "terrorist" is another person's 
"freedom fighter".  How are the Kosovars different from the 
Palestinians?
Barkley Rosser 

-- 
Rosser Jr, John Barkley
[EMAIL PROTECTED]







Re: Another leading indicator

1998-03-25 Thread Anthony D'costa

Jim, you understood exactly.  The letter came in response to the issue
with pictures of the Singapore towers on the cover.
> 
> At 08:16 PM 3/23/98 -0800, Micheal Perelman wrote:
> >A letter to the recent Scientific American suggested that tall buildings
> >were associated with impending depressions.
> 
> wasn't the tallest building in the world recently built in Singapore? or
> was it somewhere else? was it finished? does it suggest anything about
the
> Asian meltdown?
> 
> in pen-l solidarity,
> 
> Jim Devine   [EMAIL PROTECTED] &
> http://clawww.lmu.edu/1997F/ECON/jdevine.html
> "A society is rich when material goods, including capital, are cheap, and
> human beings dear."  -- R.H. Tawney.
> 
> 
> 


-- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]

The tallest building is the Petronas towers in Kuala Lumpur.  Not quite
Singapore and not far away either but what the hell from a distant
everything and everyone looks the same:) but there is some possibility of a
merger between Malaysia and Singapore in the future.

Asian meltdown was in Malaysia (which is recovering) and not in Singapore. 
BTW has anyone tried to explain why Taiwan is not part of the Asian
meltdown? What does it mean for contagions of any stripe?

Cheers, Anthony D'Costa
 





labor rights in Vietnam

1998-03-25 Thread James Devine

 Wednesday, March 25, 1998

 Shifty Move on Labor Rights in Vietnam
 By JIM MANN

 WASHINGTON--The Clinton administration showed a few days ago that it is
faster
and has shiftier moves than Michael Jordan. Jordan, the world's most famous
basketball player, has said that he will travel to Asia this summer to see
firsthand how workers are treated at Nike factories in Vietnam and other
countries. He decided to make this trip after seeing a flurry of reports about
substandard working conditions in these countries.

 But last week, the U.S. government beat him to the punch. In a little-noticed
action, a federal agency called the Overseas Private Investment Corporation
formally determined that things are getting better and better for workers in
Vietnam--thus opening the way for it to start helping businesses get
established in that country.

 OPIC gave Vietnam's labor policies a clean bill of health--even though it
acknowledged that that country's trade unions are controlled by the Communist
Party, that workers are not free to join unions of their choice, that wages
range from $30 to $45 per  month and that Vietnam does not spend money to
enforce health and safety rules.

 How could this happen? How could an agency of the federal government reach a
conclusion that seems to defy reality and common sense? To understand that,
one
has to know about Washington and the forces that drive it.

 OPIC's job is to provide insurance against political risk for U.S. companies
when they do business abroad. U.S. firms want OPIC insurance so they can
launch
projects overseas with the assurance that, if there is some upheaval, they
will
not lose all their  money.

 Not long ago, there was some talk about abolishing OPIC. It was "corporate
welfare," said conservative critics such as House Budget Committee Chairman
John R. Kasich (R-Ohio). Such talk is not heard anymore, mostly because
conservative Republicans, like liberal Democrats, have been overwhelmed by the
political clout of the U.S. business community.

 Over the last year, the Clinton administration has been eager to clear the
way
for OPIC to begin operating in Vietnam. U.S. Ambassador to Hanoi Pete
Peterson,
in particular, has argued that American companies will be more eager to do
business in Vietnam if they can get insurance from OPIC and loans from the
U.S.
Export-Import Bank.

 For their part, American firms have been waiting in line. According to
Virginia Foote of the U.S.-Vietnam Trade Council, OPIC insurance could help
clear the way for deals for steel processing, telecommunications, air-traffic
control and power installations.

 So two powerful interests, the diplomats and the American business community,
both wanted OPIC to start up in Vietnam--which would have been fine, except
for
a slight legal impediment. It involved the question of labor.

 Congress enacted a provision several years ago that prohibits OPIC from
operating in any country not "taking steps to adopt and implement laws that
extend internationally recognized worker rights."

 Given Vietnam's labor record, you might think this requirement would be
difficult to meet. Even Clinton administration officials seemed to think so.

 Last December, when the administration decided to remove the main legal
obstacle to new economic relations with Vietnam, Assistant Secretary of State
Stanley Roth assured Congress that this action was only a "limited and modest
step." It did not amount to carte blanche for programs such as OPIC, Roth
testified, because there were other factors, including "problems on labor
rights."

 Congress was being misled. Clinton's action had much broader implications.
Within a day after it was made final on March 10, OPIC announced that it was
ready to go in Vietnam.

 To make the issue of labor rights disappear, OPIC turned to the third key
ingredient for getting things done in Washington: lawyers. OPIC's attorneys
crafted a 14-page decision that interpreted the labor provision so narrowly
that Simon Legree might have passed the test.

 The only thing that counts is whether Vietnam has done anything at all
regarding labor, the decision reasoned. And Vietnam does have a labor law,
passed in 1994. OPIC admitted that, when it comes to workers' rights to form
their own unions, Vietnam's labor law does not meet international standards.
Nevertheless, OPIC's lawyers
 decided that Vietnam is "taking steps."

 "The measure is not an absolute standard, but a comparison," Charles Toy,
OPIC's vice president and general counsel, said in an interview. "They're
making progress."

 OPIC had dispatched a couple of delegations to Vietnam, in part to look at
conditions there. But the agency's final decision avoided saying anything
about
what, if anything, they saw. "Meetings and interviews were held" with
management and workers, the report helpfully noted.

 So, presto. Congress' labor requirement has been satisfied and OPIC now gets
to start up in Vietnam.

 This is Washington at its hypocritical best. W

BLS Daily Report

1998-03-25 Thread Richardson_D

BLS DAILY REPORT, TUESDAY, MARCH 24, 1998

It will take more than a small oil price increase to knock the U.S.
economy off its stride, says The Wall Street Journal (page A2) The
most important thing to remember, economists say, is that the recent
drop in oil prices was largely unexpected - a surprise gift for energy
dependent companies, car-bound commuters, and inflation-conscious Fed
policy makers. The U. S. economy was booming, with low inflation, before
oil prices fell.  And, they say, it will continue to boom even if oil
exporters hit their goal of slicing world production 

Some blue-collar workers find princely pay, writes Peter Passell in The
New York Times (March 22, Section 3, page 1).  He gives examples of
four workers who have defied trends to use their hands and brawn to earn
upper-middle-class status -- workers who earn $80,000 to $100,000 and
up.  However, the median annual earnings of male high school graduates
in 1995 was just $29,000, down by one-fifth since 1976 after taking
inflation into account  and barely 60 percent of those of their
counterparts with college credentials.  The earnings data for women show
the trend, too For some blue-collar workers, success turns on
working longer and harder.  For others, high pay comes with highly
valued skills not taught in college.  And for others, it is a matter of
breaking into the club - of joining one of the small, powerful unions
that vault semiskilled workers into the upper middle class Graphs
show median weekly earnings for selected occupations in 1996 and median
annual earnings of workers aged 25 to 64 from 1976 in 1995 dollars, with
bachelors degrees or more, high school education, or high school
dropout, by gender.  Source of the data is given as the Labor
Department.

 application/ms-tnef