Thursday, May 26, 2016

Sputnik — 'Risks of a US-China Conflagration in the Pacific Quite High'

Commenting on growing US-Chinese tensions in the South China Sea region, and Beijing's announcement that it would deploy nuclear-armed subs to the Pacific in response to US missile defenses in South Korea, University of Maryland professor John Short warned that the risks of a military confrontation between the two powers are 'quite high'.
Sputnik
'Risks of a US-China Conflagration in the Pacific Quite High'

Richard Sakwa — West could sleepwalk into a Doomsday war with Russia – it’s time to wake up

It is pointless to speculate what a war between Russia and the Atlantic community would look like, or even how it would start. This really would be a war to end all wars, since there would be no one left to fight another war. The emphasis now must be on averting such a doomsday scenario, and for that there must be honest recognition of earlier mistakes by all sides, and the beginning a new and more substantive process of engagement.
The endless prolongation of sanctions and a rhetoric of violence and scapegoating creates an atmosphere where a small incident could easily spiral out of control. It is the responsibility of our generation to ensure that it never happens.…
nsnbc
West could sleepwalk into a Doomsday war with Russia – it’s time to wake up
Richard Sakwa | Professor of Russian and European Politics, University of Kent

José L. Flores — Wall Street’s New Man in Brazil: The Forces Behind Dilma Rousseff’s Impeachment

This fight is not about Dilma Rousseff or corruption; the government would not impeach a corrupt president only to install a more corrupt president. This drama isn’t even about the political parties, all of them are corrupt. The problem is for the last thirteen years the Workers’ Party, with all its faults, has been implementing social welfare and safety net programs for the poor and was paying for it on the dime of Petrobras.
Brazil is the richest and most influential country in South America and for that reason is a primary target for U.S. economic control. If neoliberalism is not implemented in Latin America, what Washington considers its backyard, countries like Brazil will seek independent paths, regardless of U.S. capital and investments. This is always unacceptable to the United States’ imperialist policies and to the proxy leaders it uses for self-aggrandizement and profit.
A worse sin was BRICS, RC in particular.

Counterpunch
Wall Street’s New Man in Brazil: The Forces Behind Dilma Rousseff’s Impeachment
José L. Flores

The Saker — How Russia Is Preparing for WWIII

I have recently posted a piece in which I tried to debunk a few popular myths about modern warfare. Judging by many comments which I received in response to this post, I have to say that the myths in question are still alive and well and that I clearly failed to convince many readers. What I propose to do today, is to look at what Russia is really doing in response to the growing threat from the West. But first, I have to set the context or, more accurately, re-set the context in which Russia is operating….
The Unz Review
How Russia Is Preparing for WWIII
The Saker

Katehon — Russian Orthodox Church against liberal globalization, usury, dollar hegemony, and neocolonialism

The Russian Orthodox Church of the Moscow Patriarchate has published a draft of the document "Economy in the context of globalization. Orthodox ethical view. " This document demonstrates the key positions of the Russian Church on a number of issues relating to the economy and international relations.… 
Not to be outdone by the pope.

Speaking of the pope:
Katehon (not the document): The unconditional support of state sovereignty against the transnational elite is a distinctive feature of the position of the Orthodox Church. This differs the Orthodox from Catholics, who are members of the globalist transnational centralized structure, in contrast to the Orthodox Churches, which are united in faith, but not administratively.…
This document is very important because it shows that the Russian Orthodox Church not only occupies a critical position in relation to the liberal globalization, but also offers a Christian alternative to globalization processes. While Catholics and most Protestant denominations have passionate humanist ideas, and in the best case, criticize globalization from the left or left-liberal positions, the Russian Orthodox Church advocate sovereignty and national identity. The most important aspect of the Orthodox critique of globalization is the idea of multipolarity and the destructiveness of modern Western civilization’s path.
Where the two Churches agree is on distributism.

Peter Hobson — Was Russia's First Bond Sale in 3 Years a Success?

The plan was to sell up to $3 billion in 10-year, dollar-denominated eurobonds. The yield, at around 4.75 percent, was generous compared to Western bond markets. Within a few hours, banking sources were saying that orders had been placed worth $5.5 billion…
The Moscow Times is a liberal paper  not friendly to the government, so this is unlikely to be a puff piece.

The Moscow Times
Was Russia's First Bond Sale in 3 Years a Success?
Peter Hobson

The Moscow Times is a liberal paper  not friendly to the government, so this is unlikely to be a puff piece.

Matias Vernengo — A brief note on Venezuela and the turn to the right in Latin America


Matias explains the situation in Venezuela in more detail. The problem is endemic and not directly the result of the Chavez-Maduro governments. A right-wing neoliberal government won't be able to fix it either, although they would likely get assistance from the IMF and US, at a price that will be borne by the people rather than the elite, who will be boosted by it, in particular as compradors.

Naked Keynesianism
A brief note on Venezuela and the turn to the right in Latin America
Matias Vernengo | Associate Professor of Economics, Bucknell University

Samuel Bowles — When economic incentives crowd in social preferences

Explicit economic incentives – for example, a subsidy to contribute to a public good – can sometimes ‘crowd out’ generous and ethical motives. But when properly designed, can incentives ‘crowd in’ these civic virtues? This column uses an example from ancient Athens to show how this might be done, providing a lesson for modern mechanism design and public policy.
Is there a close connection between morality and economics. Bowles suggests so, based Aristotle and ancient Athens.

Voxeu
When economic incentives crowd in social preferences
Samuel Bowles | Research Professor and Director of the Behavioral Sciences Program, Santa Fe Institute

Branko Milanovic — Economic reflections on the Fall of Constantinople


For the economic history buffs.

Global Inequality
Economic reflections on the Fall of Constantinople
Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International Peace

Dylan Minor — CEOs with Lots of Stock Options Are More Likely to Break Laws


Perverse incentives.

Harvard Business Review
CEOs with Lots of Stock Options Are More Likely to Break Laws
Dylan Minor | visiting assistant professor at Harvard Business School and assistant professor at the Kellogg School of Management

Kimball Corson — A Note on Liquidity Preference


Short summary of the liquidity trap.

Wandering the Oceans: SailBlogs
A Note on Liquidity Preference
Kimball Corson

Michael Burke — US productivity declines

US productivity is set to decline for the first time in three decades, according to forecasts from the influential business research organisation the Conference Board. The level of productivity, which is the amount produced per hour of labour, is decisive for living standards. It is extremely difficult to increase the living standards of the mass of the population without increasing productivity, and impossible to do so on a sustained basis. The Conference Board is forecasting US productivity will decline in 2016.
The Financial Times quotes Bart van Ark, the Conference Board’s chief economist saying, “Last year it looked like we were entering into a productivity crisis: now we are right in it”.
Social and political implications of economic stagnation coming. American dream fading. This will be a challenge for the next administration and the next congress.

Socialist Economic Bulletin
US productivity declines
Michael Burke. economist, Social Economic Bulletin

David F. Ruccio — Letting capitalism off the hook


The mainstream argument is that capitalism is not at fault for the growing social and political unrest because capitalism is economic and economics is concerned with the circular flow of production (supply), distribution (markets), and consumption (demand). Distribution is the outcome of the interaction of supply and demand in markets. This outcome is meritocratic because marginalism, and everyone receives their just deserts based on contribution.

Therefore, inequality, which is distributive, is the result of economic laws based on market forces. Since this is meritocratic, dissatisfaction with distributional effects is the result of class envy by the less capable. Therefore, it is psychological rather than economic, based on false morality rather than scientific understanding.

So the people at the bottom should just get over it.

The trouble with the argument is that it assumes microfoundations based methodological individualism (separate agents acting independently), economic optimization (homo economicus* rather than homo socialis**), equilibrium due to market forces (absence of asymmetries resulting in economic rents). 

Distribution is very much economic, and it is based on economic rent extraction ("exploitation") rather than merit. 

Misrepresenting this is the basis of the neoliberal claim that there is no alternative to unregulated markets and privatization of public assets. 

So, no, capitalism can’t be let off the hook. It perpetuates the conditions it claims to address. And even though economic and political elites want to believe otherwise, holding firm to the notion that people should be satisfied with current economic arrangements, recent developments in the United States and Europe suggest they’re not.
Occasional Links & Commentary
Letting capitalism off the hook
David F. Ruccio | Professor of Economics, University of Notre Dame

See also

Protest of the day

"The natives are getting restless."

* Homo economicus is a mythical beast that always acts rationally to maximize utility in terms of a given preference set, choosing one basket of goods over another in terms of that preference set.

** Homo socialis is a realistic human being whose action is not only complex but also social, that is, mutual influenced, systemic and memetic, that is, embedded in a social, political and economic system, with preferences that are not only economic but social, political, ethical, spiritual, religious, etc. Home socialis is subject to both animal spirits and angelic spirits, sometime acting out of narrow self-interest and sometime altruistically. Moreover, homo socialism is not purely rational for several reasons. First, homo socialism is a cognitive-affective-volitional being that operates only in terms of rigorous analysis but also intuition, cognitive affect biases, and normative values the guide behavior. These values are not perfectly consistent, so there is volitional conflict. In addition, being embedded in a social group, there are many influences — cultural, institutional, and mimetic — on homo socialis. Hence, homo socialis does not consistently act independently of others or separate from the social group and social system, so that methodological individualism does not hold other than a weak sense.

Joe Mellor — British people ‘will never forgive’ Blair, says poll


Another legacy down the toilet. History will not be kind. America, we're waiting.
There have already been rumours that the Chilcot inquiry will come down hard on Tony Blair, and a lot of the British people blame him for entering a war that was unnecessary and possibly illiegal.
Recently Blair himself admitted that he “profoundly” underestimated the complexity of Middle Eastern politics.
Now a survey by pollsters YouGov in the Independent ahead of the report by Chilcot, which will be released in July, found only eight per cent think he did absolutely nothing wrong.
Even worse for Blair more than half of the people polled said they will “never forgive” him for taking the UK into a bloody conflict in Iraq, the backlash which still persists today, and has seen the formation of IS, a terror group who many would argue is a lot worse than Sadam Hussein.…
A majority (53 per cent) say that they could never forgive him. Just 8 per cent think Mr Blair did nothing wrong, whilst 15 per believe it’s time we forgave him for his misjudgments.…
As time passes fewer and fewer people are comfortable with the Iraq war and its reasons for it. Tony Blair may have a lot more questions to answer in the coming months and years. It seems unlikely that there are going to be many new fans of Mr Blair anytime soon.

Bill Mitchell — Austerity is killing off the hopes of our youth

Sometimes, it is almost as if I have to pinch myself to establish that what I am reading is not a dream. A few reports lately have had that effect, not the least being the latest IMF report – Debt Sustainability Analysis (DSA) for Greece, which is forecasting unemployment will remain above 10 per cent for several decades to come. The latest Eurostat data on gross labour flows also paints a dire picture for a nation that has been deliberately ruined by neo-liberal ideology. And, the latest Eurobarometer studying Europe’s youth in 2016 tells us clearly how the next generation of adults feel about all this – they feel marginalised from social and economic life. The Troika and its corporate pals are doing a great job killing off the prospects for Europe’s children and their grandchildren, and further on – their grandchildren’s children. People in a few hundred years will reflect back on this period of history as being a dark age where power hungry maniacs dominated the people before the latter revolted and mayhem ensued.…
Bill Mitchell – billy blog
Austerity is killing off the hopes of our youth
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

Sanders to debate Trump


Dishes flying in Chappaqua.





Samuel Bowles — How the Deadly Sin of Avarice Was Rehabilitated as Self Interest

In the aftermath of the stock market crash of 1987, the New York Times headlined an editorial “Ban Greed? No: Harness It,” It continued: “Perhaps the most important idea here is the need to distinguish between motive and consequence. Derivative securities attract the greedy the way raw meat attracts piranhas. But so what? Private greed can lead to public good. The sensible goal for securities regulation is to channel selfish behavior, not thwart it.”

The Times, surely unwittingly, was channeling the 18th century philosopher David Hume: “Political writers have established it as a maxim, that in contriving any system of government . . . every man ought to be supposed to be a knave and to have no other end, in all his actions, than his private interest. By this interest we must govern him, and, by means of it, make him, notwithstanding his insatiable avarice and ambition, cooperate to public good.”…

The idea that base motives could be harnessed for the public good is what I term economic alchemy. And in Hume’s time it was definitely a new way of thinking about how society could be governed.…
Magical thinking that leads to the liberal paradox of reconciling social, political and economic liberalism, or to put it another way, reconciling homo economicus with homo socialis.
From there, it was a short step to thinking that while ethical reasoning and concern for others should inform one’s actions as a family member or citizen; the same did not go for shopping or making a living.
Evonomics
How the Deadly Sin of Avarice Was Rehabilitated as Self Interest
Samuel  Bowles
Samuel Bowles, is at the Santa Fe Institute, recently published The Moral Economy: Why good incentives are no substitute for good citizens and is one of the authors of The Economy, a free online introduction to economics by the CORE Project, He also wrote Microeconomics: Behavior, Institutions and Evolution, and with Herbert Gintis, A cooperative species: Human reciprocity and its evolution.
Here are a couple of relevant quotes from Keynes:
When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals.We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exalted some of the most distasteful of human qualities into the position of the highest virtues. We shall be able to afford to dare to assess the money-motive at its true value. The love of money as a possession — as distinguished from the love of money as a means to the enjoyments and realities of life — will be recognised for what it is, a somewhat disgusting morbidity, one of those semi-criminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease…
But beware! The time for all this is not yet. For at least another hundred years we must pretend to ourselves and to everyone that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our godsfor a little longer still. For only they can lead us out of the tunnel of economic necessity into daylight.
—as quoted in "Keynes and the Ethics of Capitalism" by Robert Skidelsy
The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems — the problems of life and of human relations, of creation and behaviour and religion.— First Annual Report of the Arts Council (1945-1946)
Attributed to Keynes:
Capitalism is “the astonishing belief that the nastiest motives of the nastiest men somehow or other work for the best results in the best of all possible worlds.”
— Attributed by Sir George Schuster, Christianity and human relations in industry (1951), p. 109
Recent variant: Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.— As quoted in Moving Forward: Programme for a Participatory Economy (2000) by Michael Albert, p. 128

Wednesday, May 25, 2016

Leonid Bershidsky — Putin Is the Loser in Prisoner Swap With Ukraine


Bershidsky really doesn't get the subtlety of the Russian move. Nadia Savchenko is not only a neo-Nazi (Aidar battalion), she is a rabid one. Russia just unleashed a nuclear weapon on Ukraine by returning her. She is immensely popular on the right and a petition is already circulating to make her president of Ukraine instead of Poroshenko. She is slated to be a star.

Having an internationally prominent neo-Nazi in a high position in Ukraine is going to be a bitter pill for Ukraine's liberal allies to swallow. The US will be able to cover it up largely through control of the US media, but that will not be the case in Europe — and Putin is aiming to pry Europe out of the US-UK orbit by embarrassing the European countries for their subservience.

With respect to persuasion, this was a move by a master persuader. It will pay off big, although it will lead to the Ukrainian right being bolder militarily toward Russia. This, too, plays into Russia's hands, since it reveals Ukraine to be the aggressor.

I was thinking from the very beginning that this would be the smart strategic move.

Bloomberg View
Putin Is the Loser in Prisoner Swap With Ukraine
Leonid Bershidsky

Also

The Saker gets it but hates that Putin let her go.

The Vineyard of the Saker
Putin’s poisoned gift to the Ukraine (first impressions – not an “analysis”)
The Saker

RT
Villain or hero? The many faces of Nadezhda Savchenko

Mike Lofgren — Blaming ‘Too Much Democracy’ for Trump

The latest lament of the neocon establishment is that America is suffering from too much democracy – leading to Donald Trump – but the opposite is more to the point, how elite manipulation set this stage, explains Mike Lofgren.…
British expatriate writer Andrew Sullivan recently returned to the public eye with a piece that has aroused considerable comment, some of it reasonably on point, and some bloviatingly incoherent.
What is all the fuss about? Sullivan, in critiquing the Donald Trump phenomenon and the political factors that gave rise to it, makes a few good points, but buries them under a ridiculous premise: The culprit responsible for Trump is too much democracy, and the cure is more elite control of the political process.…
The basis of conservatism is that some are better than others and ought therefore to rule over all. Conservatives are opposed to actual democracy and what they call "democracy" is some type of oligarchy, at present plutocracy and old boy networks.

Blaming democracy is actually rather funny since there is a deficit in actual democracy in the US.

Worth reading the whole piece. Mike Lofgren is a gifted writer in addition to being experienced in US insider politics as a veteran congressional staffer (GOP).

Consortium News
Blaming ‘Too Much Democracy’ for Trump
Mike Lofgren

Nika Knight — Striking Workers Shut Down France's Oil Depots, Move to Blockade Nuclear Plant

Striking workers with the Confédération Générale du Travail (CGT), one of France's largest unions, are clashing with French government forces after the union members blockaded oil refineries and depots in response to President François Hollande forcing unpopular labor reforms through parliament earlier this month.
Hollande's proposed legislation would make it easier to fire employees, increase employees' work hours, and move jobs offshore, in defiance of France's long history of labor protections.
The blockades shut down a quarter of the France's gas stations and forced the country to dip into reserve petrol supplies.
France's President François Hollande was forced to deny that the country was facing a nationwide uprising akin to the worker and student uprising of May 1968, as riot police clashed with protesters around the country late Tuesday evening and early Wednesday morning.
The government dispatched the riot police to shut down picket lines….
France is exploding as the "socialist" government attempts to repress workers.

Common Dreams
Striking Workers Shut Down France's Oil Depots, Move to Blockade Nuclear Plant
Nika Knight

Nadia Prupis — Evo Morales: Latin America Must Fight US Coups with 'Democratic Revolution'

Bolivian President Evo Morales called on leftist governments in South America to counter U.S. plans to control the region with a "democratic revolution."
"In some countries it should be like a wake-up call where [governments] must start permanent conferences to relaunch democratic and cultural revolutions for Latin America and the Caribbean [region]," Morales said during an interview in Cuba on Monday night with the program Cubavisión, according to TeleSUR.
"It is the plan of the American empire that wants to regain control of Latin America and the Caribbean, and especially in South America, and there surely is an ambition to establish a United States presence in these countries and recover subservient governments as a model, as a system," he continued.…

"When the right wing returns to power they will remove the socialist benefits and shrink the state, which will generate a reaction," he said.
Common Dreams
Evo Morales: Latin America Must Fight US Coups with 'Democratic Revolution'
Nadia Prupis

Wikileaks — Trade in Services Agreement [Tisa]

Today, Wednesday, 25 May 2016, 11:30am CEST, WikiLeaks releases new secret documents from the huge Trade in Services Agreement (TiSA) which is being negotiated by the US, EU and 22 other countries that account for 2/3rds of global GDP.
This release includes a previously unknown annex to the TiSA core chapter on "State Owned Enterprises" (SOEs), which imposes unprecedented restrictions on SOEs and will force majority owned SOEs to operate like private sector businesses. This corporatisation of public services - to nearly the same extent as demanded by the recently signed TPP - is a next step to privatisation of SOEs on the neoliberal agenda behind the "Big Three" (TTIP,TiSA,TPP).
Other documents in todays release cover updated versions of annexes to TiSA core chapters that were published by WikiLeaks in previous releases; these updates show the advances in the confidential negotiations between the TiSA parties on the issues of Domestic Regulation, New Provisions, Transparency, Electronic Commerce, Financial Services, Telecommunication Services, Professional Services and the Movement of Natural Persons. WikiLeaks is also publishing expert analyses on some of these documents.
The annexes on Domestic Regulation, Transparency and New Provisions have further advanced towards the "deregulation" objectives of big corporations entering overseas markets. Local regulations like store size restrictions or hours of operations are considered an obstacle to achieve "operating efficiencies" of large-scale retailing, disregarding their public benefit that foster livable neighbors and reasonable hours of work for employees. The TiSA provisions in their current form will establish a wide range of new grounds for domestic regulations to be challenged by corporations - even those without a local presence in that country.
Cementing hardcore neoliberalism in place as the basis for a new world order of global governance under transnational financial and business elites. The noose is closing, but expect blowback. some will not go quietly, but the police state is already in place.

Wikileaks

Police Brutality & the Militarization Protocol : Captain Ray Lewis & Sacha Stone :

A very brave policeman who went against his force to defend Occupy. 

https://www.youtube.com/watch?v=r4snpdeJyyw

Former Captain of the Philadelphia Police Ray Lewis speaks to Sacha Stone about the mounting militarisation of police in the USA. The video contains disturbing footage of police brutality and invites the viewer to consider their own critical role as a citizen in apprehending the status quo....

Michael Hudson and Webster Tarpley Disseminate Disinformation, by Jack Straw

Jack Straw’s criticism of Michael Hudson and Webster Tarpley

This is not the British Labour Party’s Jack Straw, but the communist economist. In the article given in the link below Jack Straw criticises Michael Hudson and Webster Tarpley for believing that the great US middle class can be rebuilt, even though the world’s resources are fast running out. I think he get’s Michael Hudson wrong and below I explain why.

Well, it turns out that Webster Griffin Tarpley is his real name, and yep, that's some name for sure, but he has sent me all the around-the-houses for the last few days.  I found this really good article by him about what is happening in the Middle East today which I almost posted  here, but a little while afterwards I found out some more stuff about Tarpley which I wasn't all that keen on.

I first came across Webster Tarpley a few years back and I thought, wow, he's a good leftist! Then I came across him again on the Alex Jones Show sniggering and sneering about the British Queen, things I do totally agree with, but they were both so infantile and childish that it put me off them. I then thought, damn, I've been caught out again because Tarpley is really a right wing libertarian. I often get caught out on right wing blogs where I think they are left – i.e., anti war, anti banker, anti the elite, you know what I mean, and then I find out how right wing they really are, and sometimes that they are even white supremacist? 

A few months later I found out that Tarpley really was a socialist after all and I thought, terrific, because he can be so good, but then with all his mad conspiracy theories and climate change denial it just put me right off him again.

Michael Hudson couldn’t be more different, he is considerate, thoughtful, and much more relaxed.  Anyhow, I was never sure how ‘industrial capitalism’, as Michael calls it, was going to be less exploitative than financial capitalism, but I gave Michael Hudson the benefit of the doubt. And I could understand where Micheal was coming from; a meritocracy is so much better than feudalism, which was a state of the self perpetuating rich.  I think Hudson is a genuine leftist, and not an out an out meritocracist, but he knows that a real meritocracy would really break the ruling class's oligarchy and so that is the place to start. After this has been achieved, Michael believes that the mixed economy and the welfare state would then develop, along with the three day week, where the benefits of industrial capitalism would finally be spread out.

But to counter this social democratic movement - which would mean the loss of over class's privileged lifestyle,  the elite then used the  ‘meritocracy’ as a way to pretend that they also stand for a ‘people’s type of capitalism’, where everyone rightly gets what they deserve. This sounds fine except you must ask what does this position hold for them, why do they like it? Well, because then they can then say that there should be no welfare state, or any benefits, or minimum wage, or any public services, or social provision, and that everything should be privatized. Now mix that with a load of propaganda that they constantly pump out about in the media that they own about how lazy the underclass are, and then you can see the system that they have duped the public with.

Some MMTer's believe that the US can be revamped, re-industrialized, and its infrastructure rebuilt to create a modern, social democracy with a large middle class. Personally, I think Jack Straw’s criticism of Michael Hudson is a bit harsh, where he questions his style of socialism and criticizes his theories. Michael Hudson would like to see the three day working day week with robots and automation doing more of the work (just think of 3D printing) with people working less and having more leisure time. 

 But are people actually capable of doing less when everyone just wants more? Let’s hope so. Maybe we can relearn how to be more relaxed and have a less driven society because Jack Straw is right when he says that the oil is running out, and that the climate is being ruined, and so we will have to learn how to use less fossil fuel in the future. He argues that the great utopia of the great middle class, with houses filled with junk that we don't need, and shops open 24/7 everyday of the year piled high with even more gunk, the never ending capitalist machine, just can't carry on forever. But if we can make sure we have first class public health care and excellent public provision, we can still live reasonable, happy lives and ones that will be less pace driven and more relaxed than they are now.  So hopefully going past peak oil won't be anywhere near as traumatic as the doomsters like to say it will be.


The article below is interesting in its own right because it goes into some of the history of Webster Tapley, Micheal Hudson and the LaRouche movement. This is a good article with lots of references to Karl Marx and his theories. 



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Dirk Ehnts — Martin Feldstein on government debt does not make sense


Ignorance or politicization?

econoblog 101
Martin Feldstein on government debt does not make sense
Dirk Ehnts | Lecturer at Bard College Berlin

Stephen Rosenfeld — Trump’s Top Campaign Adviser Made Millions From Arms Dealers, Warlords, Dictators and Oligarchs


Paul Manfort under scrutiny.

Noting illegal, and business is business, right?

AlterNet
Trump’s Top Campaign Adviser Made Millions From Arms Dealers, Warlords, Dictators and Oligarchs
Stephen Rosenfeld

Time to take the next step

Carola Binder — Behavioral Economics Then and Now


Homo socialis, non-optimization, and economic policy.

Quantitative Ease
Behavioral Economics Then and Now
Carola Binder

Poll now open for you to vote for the “Top 10 Economics Books of the Last 100 Years”


No MMT.

Real-World Economics Review Blog
Poll now open for you to vote for the “Top 10 Economics Books of the Last 100 Years”