[EMAIL PROTECTED] 07/19/01 08:18PM
neither. It says that Lenin felt and said that Bukharin's book was more
complete and accurate than his own little pamphlet on the subject.
Bukharin's analysis doesn't fit today's imperialism very well at all, since
his emphasis was on the aggressive
Some secondary sources on Bukharin below, for Charles and y'all.Mark
Selden, below, btw, edited a great collection of docs for MR Press on the
CCP and PRC back in the 80's or late 70's.
His articles in the Bulletin of Concerned Asian Scholars along with
counterpoints by Edward Friedman and
ellipsis
I wrote:
(On net these days, the US is _importing_ tremendous amounts of capital.)
Charles writes:
CB: What is the comparison between US export of capital and export of goods ?
US net exports of goods and services + net US income earned on foreign
operations = a negative number these
[EMAIL PROTECTED] 07/19/01 11:59AM
I wrote:
(On net these days, the US is _importing_ tremendous amounts of capital.)
Charles writes:
CB: What is the comparison between US export of capital and export of goods ?
US net exports of goods and services + net US income earned on foreign
I wrote:
I don't think the current day fits Lenin's sketch very well at all. Lenin
himself once wrote that Bukharin's book on imperialism was superior.
Charles writes:
CB: Are you saying 1) that Bukharin's analysis of imperialism of that
period contradicted Lenin's main points , or elaborated
[EMAIL PROTECTED] 07/17/01 07:11PM
Anyway, I think it's a big mistake to generalize from the 1930 Hawley-Smoot
tariff to current-day issues. (It's quite common for the free trade
vulgaris crowd -- e.g., Krugman -- to fall for this trap.) The GATT (now
called the WTO) is aimed
There is tax competition between states and countries,
but the effect in distorting tax structures is much
more important, IMO, than the impact on the size of
government. There is pressure on the size of Gov,
but it stems from ideological and (anti-)redistributive
concerns, not very much from
Charles wrote:
CB: What is competitive austerity ? Is it competition between governments
to see who can cut social spending and public enterprise the most ? Is the
difference between this and the 1930 situation that there weren't welfare
state institutions as much in place then as in the
[EMAIL PROTECTED] 07/18/01 12:34PM
Charles wrote:
CB: What is competitive austerity ? Is it competition between governments
to see who can cut social spending and public enterprise the most ? Is the
difference between this and the 1930 situation that there weren't welfare
state
Agriculture Industrial Hemp
www.naihc.org/
- Original Message -
From: Charles Brown [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Sent: Wednesday, July 18, 2001 9:06 AM
Subject: [PEN-L:15288] wynne godley
[EMAIL PROTECTED] 07/17/01 07:11PM
Anyway, I think it's a big mistake to generalize
CB: Cutting taxes on multinationals, but not on workers ? Cutting wages or
working class incomes , in part, by cutting social spending , this
neo-liberalist austerity ?
yup.
CB: Is it the pushing exports and the cutting taxes and wages that could
lead to deepening world depresssion , or
[EMAIL PROTECTED] 07/18/01 01:41PM
-clip-
CB: Isn't this in part because a lot of the imports into the U.S. are
from U.S controlled transnationals from their capital and production
outside of the geographical U.S. ( the U.S. still exporting capital
muchly ) ?
I don't think that the
I don't think it's quite right as an
analogy. There's a city/suburb problem
that you can appreciate wherein better-off
people reside in suburbs and use the cities
for job locations, services, and certain
amenities not available in suburbs (museums,
sports teams, etc.). This way they avoid,
with
Max, I don't understand your point. Toledo gave away tax breaks to lure
companies, such as Chrysler, which gutted its tax base.
On Wed, Jul 18, 2001 at 04:49:04PM -0400, Max Sawicky wrote:
I don't think it's quite right as an
analogy. There's a city/suburb problem
that you can appreciate
To that extent tax competition is on point.
In the main, urban fiscal problems are due
to the city-suburb (city-state legislature)
relationship, IMO.
mbs
Max, I don't understand your point. Toledo gave away tax breaks to lure
companies, such as Chrysler, which gutted its tax base.
Michael Perelman:
I think that Godley may sign up to pen-l after he returns from England. I
hope that we can discuss his paper fruitfully.
I'd be specially interested to discuss his views about import controls.
Mark
=
This is very good news indeed. Can't remember where I came across
be intersting to see him on pen-l.
-Original Message-
From: Michael Perelman [mailto:[EMAIL PROTECTED]]
Sent: Monday, July 16, 2001 2:59 PM
To: [EMAIL PROTECTED]
Subject: [PEN-L:15206] Re: RE: wynne godley
I was hoping for more fruit and less nuts.
On Mon, Jul 16, 2001 at 03:48:15PM -0400
This also creates a bind regarding the dollar. If the dollar threatens to
depreciate, the damn foreigners will refuse to continue financing our binge, dump
their securities, drop the market and spoil our fun.
Rob Schaap wrote:
Ah, we're talking economics again, are we?
Well, Prudent Bear
At 04:08 PM 7/17/01 +, you wrote:
Ah, we're talking economics again, are we?
is that allowed?
Jim Devine [EMAIL PROTECTED] http://bellarmine.lmu.edu/~JDevine
Is it peace or is it Prozac? -- Cheryl Wheeler.
Although Godley is not signing on for a while, his co-author and
ex-penner, Alex Izurieta, is coming on board. You can direct some of
these questions for him, although you might wait a couple of hours.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel.
At 09:37 AM 7/17/01 -0700, you wrote:
Although Godley is not signing on for a while, his co-author and
ex-penner, Alex Izurieta, is coming on board. You can direct some of
these questions for him, although you might wait a couple of hours.
folks, be polite!
Jim Devine [EMAIL PROTECTED]
. . .
The effects of any form of undisguised wall-to-wall US protectionism on
world trade today would be presumably, completely catastrophic, the debacle
even worse than 1929-31. Is the Godley view that this debacle is inevitable
anyway, so it's a case of sauve qui peut? Mark Jones
I presume
Mark Jones wrote:
Incidentally, the Godley paper lays policy emphasis on import controls. This
looks like impish humour, since it is hard to imagine how such a policy
could be implemented without doing even more damage. As Jim Devine says, the
cure is worse than the disease:
To summarize, U.S.
In any event, the world political economy has changed, undermining
the political basis for protectionism
Jim, I check the archives often, and have learned a great deal from
your posts. Not sure I agree here. Wouldn't the US state like to
run a trade deficit to its own mnc's and thus
Max Sawicky wrote,
If the discussion is not fruitful,
I'm sure it will be nutful.
Beans are a fruit, aren't they?
Tom Walker
Bowen Island, BC
604 947 2213
Jim Devine has brought up Wynne Godley's work several times. He has a new
paper writter with a former penner, who had promised to return.
I think that Godley may sign up to pen-l after he returns from England. I
hope that we can discuss his paper fruitfully.
--
Michael Perelman
Economics
If the discussion is not fruitful,
I'm sure it will be nutful.
mbs
Jim Devine has brought up Wynne Godley's work several times. He has a new
paper writter with a former penner, who had promised to return.
I think that Godley may sign up to pen-l after he returns from England. I
hope that we
I was hoping for more fruit and less nuts.
On Mon, Jul 16, 2001 at 03:48:15PM -0400, Max Sawicky wrote:
If the discussion is not fruitful,
I'm sure it will be nutful.
mbs
Jim Devine has brought up Wynne Godley's work several times. He has a new
paper writter with a former penner, who
[mailto:[EMAIL PROTECTED]]
Sent: Monday, July 16, 2001 2:59 PM
To: [EMAIL PROTECTED]
Subject: [PEN-L:15206] Re: RE: wynne godley
I was hoping for more fruit and less nuts.
On Mon, Jul 16, 2001 at 03:48:15PM -0400, Max Sawicky wrote:
If the discussion is not fruitful,
I'm sure it will be nutful
Worse than that, it makes sense -- a violation of basic academic
principles.
On Mon, Jul 16, 2001 at 04:29:07PM -0500, Forstater, Mathew wrote:
his work is very important i think. he sets up scenarios with simple
models, like
Y = C + I + G + X -M
or
--
Michael Perelman
Economics
-
From: Mark Jones [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Sent: Monday, July 16, 2001 6:00 PM
Subject: [PEN-L:15210] RE: wynne godley
Michael Perelman:
I think that Godley may sign up to pen-l after he returns from England.
I
hope that we can discuss his paper fruitfully.
I'd
Ah, we're talking economics again, are we?
Well, Prudent Bear Marshall Auerback
http://www.prudentbear.com/Comm%20Archive/markcomm/i082900.htm talked about
Wynn Godley's thoughts on private sector debt last August (when, to my mind,
things looked bad, but not as bad as now - Kenichi Ohmae's
At 17/07/01 02:00 +0100, you wrote:
Michael Perelman:
I think that Godley may sign up to pen-l after he returns from England. I
hope that we can discuss his paper fruitfully.
I'd be specially interested to discuss his views about import controls.
Mark
Wynne Godley is a thoughtful
Greetings Economists,
C. Gregory writes,
Christian Gregory
I get that.
Doyle
In reference to what Michael Perelman was writing about bonds being
withdrawn as debt is paid off. C. Gregory continues,
Christian Gregory,
I don't get why the disappearance of those assets automatically
means
christian a. gregory wrote:
I get that. I don't get why the disappearance of those assets automatically
means that the wealth once held in them becomes a liability. Is it assumed
that turning treasuries into cash amounts to a debit or
consumption/investment?
As the old Treasury debt matures,
someone wrote:
Imagine that the households hold large amounts of government debt as
assets. Other things being equal, if the government runs surpluses, then
those assets disappear.
Christian Gregory writes:
I get that. I don't get why the disappearance of those assets
automatically
At 09:35 AM 06/24/2000 -0700, you wrote:
Godley uses the accounting identity that the private financial balance,
the trade balance and the gov't balance (written as a deficit) have to sum
to zero. I take this to be a restatement of the basic macro identity S - I
= (G + TR - TA) + NX. No? This
Michael P wrote a while ago:
"Wynne's work is based on basic accounting principles and so has the
potential of being understood, and maybe even convincing. He shows what's
behind the boom, and shows what would have to occur for it to continue, and
that such a scenario is unlikely, but even
Imagine that the households hold large amounts of government debt as
assets.
Other things being equal, if the government runs surpluses, then those
assets
disappear.
I get that. I don't get why the disappearance of those assets automatically
means that the wealth once held in them becomes a
I must not have made myself clear. Imagine that a certain number of gov't
bonds come due each year. Once the gov't goes into a surplus, bonds expire
without being replaced by new bonds. So, household holding of gov't debt falls
-- ceterus paribus.
"christian a. gregory" wrote:
Imagine that
It becomes a liability, I guess, only in the sense that it is a subtraction
from the previous credit.
"christian a. gregory" wrote:
Imagine that the households hold large amounts of government debt as
assets.
Other things being equal, if the government runs surpluses, then those
assets
Jim Devine has referred to Wynne Godley's 7 unsustainable processes
before. Does anybody else have any opinions about the article?
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
I read it a while ago, and thought it was pretty persuasive, but I'd be
interested in any critiques.
Joel Blau
Michael Perelman wrote:
Jim Devine has referred to Wynne Godley's 7 unsustainable processes
before. Does anybody else have any opinions about the article?
--
Michael Perelman
Forwarded from Mat Forstater
I think Wynne's work is extremely important. Let's think about
his study in the context of Gore's promise yesterday or the day before
to
continue and even accelerate along the path of fiscal austerity, while
boasting that running surpluses and paying down the debt
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