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
Michael Perelman wrote:
...wartime finance started to hurt the stock market.
When? For how long?
Edwin Dickens
Another possibility, Michael, is The Pathology Of The US
Economy, by Michael Perelman.
Edwin Dickens
Doug,
As a contretemps to the current concerns on Pen-l
with people reviewing materials they have highly
publicized biases against, can you explain why you
would rather read a PoMo icon like Foucault rather
than a book apparently grounded in Marx (e.g., Foucault
never quotes the Grundrisse).
Does anyone know how to contact David P. Ellerman?
Thanks in advance,
Edwin Dickens
Robert Naiman asks:
Does anyone have the quote and cite where Keynes talked about
the "euthanasia of the rentier?
"Now, though this state of affairs would be quite compatible
with some measure of individualism, yet it would mean the
euthanasia of the rentier, and, consequently, the euthanasia
Trevor Evans believes that Marx's theory of the interest rate is
more or less "complete." As an example of what this means, Trevor
points to Marx's rejection of a natural rate of interest. Trevor
then speculates that Marx might have a loanable funds type theory
of interest rate determination
Doug Henwood writes:
Well, Tom, what do you think Marx's theory of interest rate
determination was?
I think there is a good reason why Marx did not have a complete
theory of the interest rate--namely, Marx's initial results
prompted him to postpone further consideration of the issue
until he
Doug Henwood writes:
Well, Tom, what do you think Marx's theory of interest rate
determination was?
I think there is a good reason why Marx did not have a complete
theory of the interest rate--namely, Marx's initial results
prompted him to postpone further consideration of the issue
until he
We now know how to determine important fragments from
unimportant ones: Their length and the number of times
Marx broke off in mid-sentence because his train of thought
had shifted to some other topic. We are dealing, for
the most part, with stream of consciousness writing. Given
the number of
Trevor Evans now appears to hold the position that, for Marx, the
market interest rate fluctuates around an average level which
is determined by, "amongst other things, . the relative strength
of industrial capital and financial capital, institutional
factors and even convention." Can we thus
Eric,
Can you calculate the cost of job loss series on a quarterly
basis?
Edwin Dickens
Eric Nilsson writes:
I've wondered if Fed policy could be shown to respond to changes
in CJL. Is this what your're thinking about?
You've got it. (Sorry, Bill Mitchell, some of us do care about
Fed policy. When's the next non-US day?) I'm sure the "crude
estimates" you would make of the CJL
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