By William K. Black
Dr. Pablo Lucio Paredes, an economist from Ecuador who served as Planning Minister implementing the Washington Consensus in the disastrous run-up to Ecuador’s 1999 financial crisis has responded to a presentation I made at FLACSO in Quito, Ecuador by publicly announcing a quiz about economics he would like to administer to “William Blake.” It is easy to spell foreign names incorrectly. I am happy that the quality of my presentation reminded Paredes of William Blake. Here is the link to my talk.
Paredes plans to be the grader of his quiz. The tone of his “letter” to “Blake” makes it clear that he will declare I have failed his test. He has already provided his conclusion: that I only presented because of my desire to issue “propaganda.”
By L. Randall Wray
I recently did an interview for Euro Truffa on six topics related to Modern Money – MMT.
They are transcribing my interview to Italian and putting up the videos (I think that only two are up so far). However, they have also posted all of the videos to YouTube.
As you can tell, I did not realize they were recording the video—I might have tried to sit still if I had known. Also, the coffee had not quite kicked in so I was not entirely awake. Here are the links with just a brief indication of the topic for each.
By William K. Black
One of the many pleasures that life offers is seeing your critics prove your point. I got to see this dynamic first hand in Ecuador when I was interviewed by Roberto Aguilar, described as the “Content Editor” of Hoy. Aguilar’s column, which seethes with hostility and disdain, unintentionally proves the thesis of my talk.
This first installment responding to Aguilar will discuss only the most important points. I was confused by Aguilar’s column the first few times I read it. His column is so angry that I wondered what terrible thing I said that caused him such pain. I focused too much in these early readings on his ad hominem attacks on my looks, my inability to speak Spanish, and my non-elite nature because I teach in “Kansas” (sic) (“profesor de Kansas”). Aguilar is unable to speak English and does not understand the U.S. system of federalism or he would not write that the University of Missouri is in the state of Kansas rather than the state of Missouri.
American economist Hyman Minsky died in 1996, but his theories offer one of the most compelling explanations of the 2008 financial crisis. His key idea is simple enough to be a t-shirt slogan: “Stability is destabilising”.
BBC Radio 4’s Analysis program has an episode on Minsky and looks at topics such as:
- In the aftermath of the financial crisis, why did Minsky die an outsider?
- What do his ideas say about the response to the 2008 crisis and current policies like Help to Buy?
- And has mainstream economics done enough to respond to its own failure to predict the crisis and the challenge posed by Minsky’s ideas?
On March 22, 2014, Marc Lavoie of University of Ottawa presented a workshop on Stock Flow Consistent Modeling at University of Missouri Kansas City. Prof. Lavoie graciously provided his slides and they available below the video.
On March 21, 2014, Marc Lavoie of University of Ottawa presented a seminar on Heterodox and Post-Keynesian Economics at University of Missouri Kansas City. Prof. Lavoie graciously provided his slides and they available below the video.