So, Keynes is dead is he? It is surely only a matter of time before
his theories are resurrected. Both Keynesianism and monetarism have
many precursors and theories emphasising the importance of cheap
money and those stressing the need to maintain a sound currency tend
to wax and wane in popula
roy said:
>So, Keynes is dead is he? It is surely only a matter of time before
>his theories are resurrected.
well he is dead. but the interesting question that arises here is what
exactly were or are _his_ theories. a lot of people (especially the crew
that hang out on pkt) have plenty to sa
I have been approached by an extremely able student of political
economy, who would like to do a PhD. Even though he has no formal
links with higher education institutions, he has published several
papers in his field, and is highly regarded by his fellows. I have no
doubt that he has a brilli
Justin Schwartz replies 6/8 to my suggestion that the distress of some
urban poor people has to do with, in his words, "this mysterious collapse
of character," that this amounts to
>dismiss[ing] the possibility that it has anything to do with
de-industrialization, the collapse of unionism, cap
A friend in Kingston ON quotes the Toronto Star that the
Conservatives' successful campaign was directed by a Mike
Murphy, a protege of Jesse Helms. It seems Murphy also
managed Ollie North's unsuccessful run at the US Senate.
My friend predicts the new Ontario government will adopt
a hard policy
Dear Penners:
I will be sending, via text only, two messages that involve my responses to
some posts that were sent in partial response to a couple of my posts on the
deficit reduction mania in Congress. They will probably arrive untitled but
you'll be able to see they're from me, I hope. Sorry
Dear Penners:
I have been thinking and burning up about the assault on deficit
spending by the high priests of capitalism for a number of years
now, and am glad that the cyber-space of PEN-L has heated up with
a discussion. The discussion has ranged far and wide and I'd like
to try to pick up so
Justin, I agree with everything you said, particularly concerning
the focus on the deficit. The real variable that should be focused
on is the debt to output ratio. This is what has been growing in the
US since the late 70s. What Congress should be doing is stabilizing
this ratio, we don't need
Dear Penners:
This is my second installment on the deficit discussions:
NATHAN NEWMAN write:
Given the fact that the US had $200-300 billion [deficits] as we
drove into the 1990-1993 recession (or however we measure the
endless misery in areas like California and inner cities), it is
harder to
At 1:18 PM 6/8/95, Nathan Newman wrote:
>On the other hand, maybe without $200 billion interest payments, we would
>be able to eak out direct funds for jobs, education and other funds to
>help the average person. I'm not a Paul Simon balanced-budget liberal,
>but it does seem that the 80s was not
At 4:47 PM 6/8/95, Bill Briggs wrote:
>I'm looking for the actual numbers
>that all the nifty percentage statistical games are played with.
>
>I have found this
>1993 [in billions] for USA.
>outlay 1142
>receipts842
>
>question 1.
>where would I find similar numbers for the maj
At 4:04 AM 6/9/95, BILL MITCHELL wrote:
>well he is dead. but the interesting question that arises here is what
>exactly were or are _his_ theories. a lot of people (especially the crew
>that hang out on pkt) have plenty to say about this, but i am one of that
>crew who says keynes said very litt
Hello Pen'ers,
Recently I read an interesting tidbit that Regan-era tax reforms were
responsible for a certain percentage of the debt. If anyone knows the
figures and sources I would greatly appreciate it.
Gina Neff
[EMAIL PROTECTED]
On Thu, 8 Jun 1995 19:14:15 -0700 Bill Koehnlein said:
>*
>
> Praise for *Salsa! Havana Heat, Bronx Beat*
>
>"A marvelous book. I am deeply grateful to Hernando Calvo
>for helping our audiences understand the roots of our
>rhythms."
> --Celia Cruz
>
I am a fan as much of Mo
On Fri, 9 Jun 1995 08:27:41 -0700 Doug Henwood said:
>At 1:18 PM 6/8/95, Nathan Newman wrote:
>
>>On the other hand, maybe without $200 billion interest payments, we would
>>be able to eak out direct funds for jobs, education and other funds to
>>help the average person. I'm not a Paul Simon balan
> The AFL-CIO is now on the worldwide web at :
>
> http://www.aflcio.org/
>
> There are links to other labor-related sites ;
>
> 1. The Electronic Activist
>
> 2. Burea of Labor Statistics
>
> 3. U.S. Occupational Safety and Health Administration
>
> 4. U.S. Department of Labor Gopher
I hope Eric Nilsson won't mind if I argue with a parody of his
argument, rather than with what he has been saying. It is much easier to
defeat a parody than it is to seriously consider a real,
living argument. After I have disposed of the parody, I will return to
the real thing.
What Eric *r
Mick
All that's needed to bust a cartel is a hunch by at least one
membr
that, for whatever reason, he's better off cheating than staying in.
Even aside from geopolitical considerations, the might-be-cheater could
be looking at a gap between cartel price and either short- or long-run
Nathan wrote:
-
Just to be a bit heretical amongst the heretics, but is the argument for
Keynesian deficits very sound anymore in a global economy?
If the US government deficit spends, doesn't a large proportion of the
spending get sent overseas through imports, thus short-circuiting
Mick writes
---
Let us, even so, agree that eight years of Reaganite lectures,
howver
processed, did not eliminate slums or poverty, did not wipe out drugs or
prostitution, did not bring bourgeois comforts to the putatively
oppressed. Schwartz's recommendation is "spending . .
Tom Walker said
> God, the devil and Kondratieff long waves are stories that some people
> use to help them understand how we have arrived at current
> social-economic conditions.
Tom, if you had a broken leg, would you go to a doctor or to a
herbalist?
Eric Nilsson
Department of Economics
WARNING: I'm responding to a political argument from M. Etchison, which has
only a tangential connection to what most people on PEN-L are interested in.
To the majority, hit that delete key.
Now that it's just us "sixties types" arguing amonst ourselves, here we go:
GC-ETCHISON, MICHAEL wrote:
John writes:
> Let me be a bit more clear.I think the rush to critique attempts
> to use the LTV without placing that critique in a dynamic analysis are, at
> best, premature. I would agree that the LTV has yet to be used in a way
> that completely clarifies "the law of motion of capit
On Fri, 9 Jun 1995, Mike Meeropol wrote:
The
> deficit as a percentage of GDP had falled from 5.2% of GDP to 2.9%
> in 1989. The federal debt as a percentage of GDP has risen
> steadily since 1981 but that percentage is still lower than it was
> in 1955. Interest payments as a percentage of
Paul Cockshott on 6/9 responded to my discussion of some reasons a
cartel member would have to cheat, which ended with the assertion that
"Value-theoretic considerations are
irrelevant to this reasoning." He wrote
> the world market price of oil expressed in Nairas was greater ( after
Louise
---
I do. What I am trying to get across is why can't we reduce the
deficit in such a way that we still attain those things that
are important -- investing in infrastructure and our kids!
Paul
Which other sector of the economy do you propose to move
into deficit to balance the de
Louise writes
--
Justin, I agree with everything you said, particularly concerning
the focus on the deficit. The real variable that should be focused
on is the debt to output ratio. This is what has been growing in the
US since the late 70s. What Congress should be doing is stabili
Fired up the old modem and tuned into PEN-L. What did I hear? A cacophony
of discord. Four or five simultaneous argumentatives (it would be
generous to dignify them by calling them arguments).
Here's a suggestion. If you think what someone else says is silly. Reply
to the "From" address, not t
Michael (- here in Glasgow all Michaels are Micks) quotes me as saying:
> the world market price of oil expressed in Nairas was greater ( after
deducting the cost of imported means of production ) than the oil's
labour value expressed in Nairas.
to which he replies:
to which I reply, "So what?"
This came over another list.
> My name is Edward B. Armour, and I am a representative of the Sheet Metal
> Workers International Association, Local #312 in Salt Lake City. We have
> begun a new constitutionally mandated Labor History program for our
> apprentices and Journeymen. If the volumes
Sorry to repeat this stuff about Roemer's so-called
"isomorphism theorem", but somehow when I posted similar
points Gil ignored them, without even criticizing them.
If you're bored, erase it.
Referring to some quotes from Marx on the wages of
superintendance, Gil writes:
>>> OK, we have two
Gil Skillman replies to Alan Freeman's statement that:
==
In any given period...goods are produced which have a value of
(say) $500bn. These are purchased. Some are consumed, and some re-
enter production ( in the next period). The conne
Nathan argued:
[deletions]
>Wages for younger folks have dropped like a stone, job security has
>disappeared, etc. Maybe things would have been worse without the 80s
>deficits, but it's quite obvious that more Keynesian deficits would not
>have solved the economic problems we face.
>Which m
At 12:48 PM 6/9/95, Nathan Newman wrote:
>Wages for younger folks have dropped like a stone, job security has
>disappeared, etc. Maybe things would have been worse without the 80s
>deficits, but it's quite obvious that more Keynesian deficits would not
>have solved the economic problems we face.
on Keynes & deficits: it's interesting to note that at one point in the
GT, he wanted the gov't to run a surplus in order to drive interest
rates to zero, in order to get rid of the rentiers.
in pen-l solidarity,
Jim Devine [EMAIL PROTECTED]
Econ. Dept., Loyola Marymount Univ., Los Angeles, CA
On Fri, 9 Jun 1995, Louise Laurence wrote:
> Justin, I agree with everything you said, particularly concerning
> the focus on the deficit. The real variable that should be focused
> on is the debt to output ratio. This is what has been growing in the
> US since the late 70s. What Congress shou
Thanks for answering Etchison for me. I guess I'm not qualified to do it,
and am probably not one of the people who would be admitted to Etchison's
responsible circle of decisionmakers, since according to him I'm not a
real intellectual and haven't done any serious study of the issues, but
instea
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