From: [EMAIL PROTECTED] (Tom Walker)
Subject: [PEN-L:12062] Re: Greenspan on Govt. Intervention in Markets
. . .
A tool is a tool, Max, and a goal is a goal. One learns to distinguish
between the two. I wasn't criticizing monetary reflation for the purpose of
maintaining
I'm doing a post-Labor Day special on my radio show (WBAI, New York City)
this Thursday evening. I've got Edie Rassel of the Economic Policy Insitute
booked to talk about a joint report by EPI and the Institute for Women's
Policy Research on nontraditional work, and after her, Stefanie Schmidt of
Yeah, and what about the Minsky paradox, and the danger of validating
threatened financial practices? The factoid I quoted yesterday, that the
bailout era has been one of financial crises of unprecedented severity and
frequency, argues that indulgence does have its downside.
I don't dispute
Picking up on Doug H.'s reference to Minsky, when Max S.
calls Tom W. to the right of Friedman, it raises an
important problem for radical political economists:
our relationship to Post Keynesianism. For Post
Keynesians, the principal function of central banks
is to prevent debt-deflations by
maxsaw wrote:
Initially I reacted to Stephanie's result with
muted hostility, since you could take it to
connote that life is just a bowl of cherries for
the working class. But if it isn't obvious,
there's an upside to the finding, if true. Less
anxious workers can be more militant. Mao's
I have not read Schmidt's report, but it does not surprise me. During
the 60's, when unemployment was low, workers often took a cavalier
attitude toward their work. As unemployment became a more serious
threat, workers became more "grateful" for their job. What is the
relationship between
Tom Dickens writes:Apparently, banks are now using overnight investments to get
around the last vestiges of reserve requirements. I'd be interested in
knowing what rules Jim D. thinks the Fed imposes on banks, except for the
ones that help them hold their cartel together. Even Monetarists and
At 10:53 8/31/97 -0700, Nathan Newman presented several insights I'd like
to expand.
On many of the news programs analyzing the Diana tragedy, many
commentators are commenting on the hypocrisy that people condemning the
paparazzi photographers are also the ones who bought the tabloid pictures
It's not true that banks don't pay for the services of the Fed. They have to
hold reserves, which don't pay interest, which the bankers (at least) think
of as a tax; they also have to live up to the Fed's large number of rules.
But it's unclear whether or not the bankers get benefits exceeding
Tom Walker wrote:
"Greenback" Max Sawicky wrote,
A chain-reaction of bankruptcies might
conceivably be of some harm to the working class,
notwithstanding the pleasure of watching many
of the rich cease to be so. I have some dim
recollection of problems of this nature in the
past.
By my
This weekend I attended a conference on the Borscht Belt at the Sunny
Oaks, a very modest hotel that has survived the economic collapse of the
famed Jewish resort area in Sullivan County, New York. The conference was
organized by Phil Brown, a Brown University professor. (There is no
relation, of
Forwarded message:
Date: Thu, 28 Aug 1997 14:15:25 +
From: "J. Hughes" [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Subject: dsanet: Greenspan as dem-leftist
All Globalization Is Local
By Jim Hoagland
Thursday, August 28, 1997; Page
Friends,
Thanks, louis, for the interesting recounting of your visit to the catskills.
If I am not mistaken, the Foner brothers had a band when they were young. By
the way is there any more prolific historian than Philip Foner?
michael yates
maxsaw wrote:
I would say conservatives routinely exaggerate
the downside (like your friend Jim Grant, whose
book I read and enjoyed).
My "friend" Jim Grant is the guy who put Barron's together with their nasty
reviewer of my book, Wall Street failure Paul Isaac. Actually, that review
might
From: "DICKENS, EDWIN (201)-408-3024" [EMAIL PROTECTED]
Subject: [PEN-L:12071] Re: Greenspan on Govt. Intervention in Markets
of last resort. Max: why aren't lender of last
resort interventions like dropping a big bag of
money on ailing institutions? If the point is to
Max Sawicky wrote,
It's true that policy tools and policy goals go together "to some
non-trivial extent". . . .
True but too general.
That was precisely my point. I'm glad we agree. Or were your arguing with
the elipsis?
Regards,
Tom Walker
I absolutely refuse to use the used-and-abused word "tragedy" to describe
Diana's untimely death. To call it a "tragedy" raises it to a level of
historical significance which only validates the tabloid and mainstream
press' morbid veneration of that completely disgusting institution, celebrified
from today's Orlando Sentinel:
Associated Press
Jackson Hole, Wyoming
What makes a good recipe for financial stability in the technologically
enhanced, globalized economies of the late 20th century?
Leading world economists gathered here for a three-day symposium said the
necessary
Mao's
dictum, "the worse, the better" doesn't follow.
Wasn't Mao referring to the Andy Warhol print?
Regards,
Tom Walker
^^^
knoW Ware Communications
Vancouver, B.C., CANADA
[EMAIL PROTECTED]
(604) 688-8296
Maybe we're both making impressionistic generalizations that beg technical
issues. You seem to be saying that easy money has beneficial general effects
on the economy under almost any circumstances. That seems to me to be a kind
of mechanistic Keynesianism. I would argue that the heart of the
Date: Mon, 1 Sep 1997 10:18:59 -0700 (PDT)
Reply-to: [EMAIL PROTECTED]
From: Doug Henwood [EMAIL PROTECTED]
Subject: [PEN-L:12067] radio
I'm doing a post-Labor Day special on my radio show (WBAI, New York City)
this Thursday evening. I've got Edie Rassel of the
Max Sawicky wrote,
It's not as if the Fed drops off a
bag of money at ailing financial institutions,
by and large, though even then monetary
ease would be implied. By my reckoning, looser
money at almost any point after WWII, putting
aside the energy price spikes and the late
1960's, would
"Greenback" Max Sawicky wrote,
A chain-reaction of bankruptcies might
conceivably be of some harm to the working class,
notwithstanding the pleasure of watching many
of the rich cease to be so. I have some dim
recollection of problems of this nature in the
past.
By my reckoning this puts
23 matches
Mail list logo
