Re: [PEN-L] article on oil dollars

-L] article on oil dollars Jim do you have a reference for where Dean says this? It looks like a very important point, since one of the big things that happened around that time was the introduction of hedonic adjustment in the computer industry, and since it's always seemed to me

Re: [PEN-L] article on oil dollars

Davies Sent: Sun 2/27/2005 10:24 PM To: PEN-L@SUS.CSUCHICO.EDU Subject: Re: [PEN-L] article on oil dollars Jim do you have a reference for where Dean says this? It looks like a very important point, since one of the big things that happened around that time was the introduction of hedonic

Re: [PEN-L] article on oil dollars

Massimo Portolani [EMAIL PROTECTED] wrote: I'm not sure what you mean, but do you believe that USD preeminence in world trade is a key *determinant* of the US economic power? I think it certainly allows a level of indebtness that others can't have, it allows inflating the world rather

Re: [PEN-L] article on oil dollars

John Exdell [EMAIL PROTECTED] wrote: The first war created a serious crisis for Britain, and the second finished off the empire. But it's important to note that the U.S. bankrolled the British-French war effort in 1914-18. Even at that point Britain was in a state of serious relative

Re: [PEN-L] article on oil dollars

John Exdell wrote: To sum it up, I think Looney offers a good argument against the view that the Iraq War was begun to head off a threat to the system of dollar supremacy. But I don't think he has made a strong case that dollar supremacy -- or seignorage, call it what you will -- offers

Re: [PEN-L] article on oil dollars

Seems to me that dollar dominance is the monetary reflection of U.S. political power. Certainly things can happen in the financial realm that influence the real, but if the dollar slips from its dominant role, it's because of growing U.S. indebtedness and weakening political/cutlural power. Doug

[PEN-L] article on oil dollars

Seems to me that dollar dominance is the monetary reflection of U.S. political power. Certainly things can happen in the financial realm that influence the real, but if the dollar slips from its dominant role, it's because of growing U.S. indebtedness and weakening political/cutlural power.

Re: [PEN-L] article on oil dollars

Massimo Portolani [EMAIL PROTECTED] wrote: I think that political and economic power go hand by hand, so dollar dominance and political power are rather intertwined rather than being one the reflection of the other. I'm not sure what you mean, but do you believe that USD preeminence in world

Re: [PEN-L] article on oil dollars

On 27/feb/05, at 20:06, Julio Huato wrote: Massimo Portolani [EMAIL PROTECTED] wrote: I think that political and economic power go hand by hand, so dollar dominance and political power are rather intertwined rather than being one the reflection of the other. I'm not sure what you mean, but do you

Re: [PEN-L] article on oil dollars

Doug: Seems to me that dollar dominance is the monetary reflection of U.S. political power. Certainly things can happen in the financial realm that influence the real, but if the dollar slips from its dominant role, it's because of growing U.S. indebtedness and weakening political/cutlural

Re: [PEN-L] article on oil dollars

At 01:45 PM 2/27/2005, you wrote: On 27/feb/05, at 20:06, Julio Huato wrote: Massimo Portolani [EMAIL PROTECTED] wrote: If the history of the sterling pound in the international markets is any guide, the preeminence of the USD is already declining and will continue to decline rather gradually

Re: [PEN-L] article on oil dollars

John Exdell wrote: The first war created a serious crisis for Britain, and the second finished off the empire. But it's important to note that the U.S. bankrolled the British-French war effort in 1914-18. Even at that point Britain was in a state of serious relative decline and a new

Re: [PEN-L] article on oil dollars

Julio Huato wrote: I would think that the true determinants of economic power are (1) social institutions that constantly drive productivity growth, (2) pre-existing productivity levels, and (3) resources. That's what the entire history of capitalism suggests. No? According to the official

Re: [PEN-L] article on oil dollars

://myweb.lmu.edu/jdevine From: PEN-L list on behalf of Doug Henwood Sent: Sun 2/27/2005 8:20 PM To: PEN-L@SUS.CSUCHICO.EDU Subject: Re: [PEN-L] article on oil dollars Julio Huato wrote: I would think that the true determinants of economic power are (1) social

Re: [PEN-L] article on oil dollars

Carrol, thanks for the gem. To think that Woody got it right without using email. This reminds me that last week we had David Rovics here in Manhattan, KS, and I would say he's got the Guthrie flair for sharp political lyrics and a good tune. If anyone is looking for some music to go with the

Re: [PEN-L] article on oil dollars

Jim do you have a reference for where Dean says this? It looks like a very important point, since one of the big things that happened around that time was the introduction of hedonic adjustment in the computer industry, and since it's always seemed to me that the flipside of what they were doing

Re: [PEN-L] article on oil dollars

There are two questions discussed in Petrodollars to Petroeuros. 1. What advantages does the U.S. gain from the dollar's position as the global reserve currency -- are these great or small? 2. Is it likely that Iraq or any other OPEC country could dislodge the dollar from its position as oil