Author Archives: Devin Smith

JMK Writings Project

jmk

DECEMBER 8, 2016.

THE CLOSING DATE FOR THE CROWDFUNDING CAMPAIGN FOR THE JMK WRITINGS PROJECT.

I thank, from the bottom of my heart, all those who have backed the campaign, with donations ranging from USD5 to USD1,000.  Almost everyone has said complimentary things about the proposed edition (‘great idea’, ‘wonderful project’,   ‘best of luck’ etc), but far fewer have followed up with contributions.

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Wray on Minsky on “Hopping Mad”

On Monday, 31 October 2016, Dr. L. Randall Wray was on the radio program and podcast, Hopping Mad with Will McLeod & Arliss Bunny. The focus of the interview was Wray’s newest book, Why Minsky Matters:  An Introduction to the Work of a Maverick Economist. The interview was more than an hour long so Wray was able to give lengthy answers without being pressured for time.

Dr. Wray’s book, Why Minsky Matters can be found on the Princeton University Press website and on Amazon where it is is available as both a hardcopy and download.

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Paid Leave and Daycare: Luxuries of the Wealthy

Originally published in The Minskys by Lara Merling

The U.S. trails the rest of the world in benefits available to families. Currently, the only industrialized country that does not guarantee paid maternity leave for new mothers is the United States. While other countries offer generous paid parental leave and some form of childcare subsidies, the U.S. does not. This lack of policies to support working families widens economic inequality and limits opportunities of children not born in wealthy households.

smalldaycare

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Bank of England: Taking the Banks’ Fraud Proceeds Slows Growth

By William K. Black
October 20, 2016     Kansas City, MO

Elite bankers and the pathetic economists who serve as apologists for their frauds specialize in proving our family saying that it is impossible to compete with unintentional self-parody.  The subtitle of the WSJ article providing the latest proof is “Fines on banks translate into $5 trillion of ‘reduced lending capacity,’ bank says.”  The “bank” referred to is the Bank of England, which is supposed to be the UK’s primary bank regulator.  To be kind, the “study” by BOE is so embarrassing that a better descriptor of the BOE would be “fraud enabler.”

“The roughly $275 billion in legal costs for global banks since 2008 translates into more than $5 trillion of reduced lending capacity to the real economy,” Minouche Shafik, a deputy governor of the Bank of England, told a New York conference of regulators and bankers Thursday.

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JD Alt Interviewed on “The Millennials’ Money”

Monday, 17 October, on the weekly progressive radio program Hopping Mad with Will McLeod and Arliss Bunny, JD Alt was interviewed about his book The Millennials’ Money. The broadcast version of the interview, which aired on Netroots Radio at 8AM Eastern on Monday, 17 October, was twenty-two minutes long. The podcast version of the interview is about twice that. The podcast is available on iTunes, Stitcher, Google Play and on the Hopping Mad website.

JD’s book was previewed here, on NEP, in sections as he was going through the writing process and many NEP contributors participated in comment threads which influenced aspects of the book. If you have not read it in its entirety, The Millennials’ Money is quite worthwhile in that it not only brings JD’s excellent diagrams, from his best-selling ebook Diagrams & Dollars, to a hardcopy format covering the basics of MMT but then goes beyond that with some genuinely interesting thinking on how the millennial (fourth turning) generation can best use MMT to solve some of the immense challenges they face.

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Two Loaves

By J.D. ALT

Recently, I’ve been trying to zero in on a peculiar set of ingredients that seem to be baked into our economic pie―and which are depriving that pie of a sustenance we, as a collective society, need it to provide. The peculiar ingredients have to do with our monetary system. Specifically, the fact that we―whether intentionally or by happenstance―have put in place and operate a money system that seamlessly creates dollars, as necessary, for profit-making enterprise, but specifically does NOT create dollars for not-for-profit ventures.

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A Pocket Handbook of Soft Climate Denial

Michael Hoexter, Ph.D.

In a recent piece, I introduced the concept of “soft climate denial”.  In soft climate denial, people acknowledge that climate change is real and threatening and may even be panicked about it.  However, in this cultural-political constellation with attendant states of mind, the solutions for climate change that are embraced are in no way commensurate to the acknowledged threats to human existence posed by anthropogenic global warming.   Consequently, soft climate denial leads often to hand-wringing or other ineffectual actions but no decisive steps taken towards meeting the challenge of human-caused and human-accelerated global warming.

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Fiscal Feminism: Pavlina R. Tcherneva

NEP’s Pavlina Tcherneva appears on the Laura Flanders Show. Pavlina says the current practice of gender-blind and race-blind fiscal policy lacks visions and helps no one. Congress, according to Pavlina is focusing on the wrong things. A self ascribed feminist economist, Pavlina says feminist fiscal policy is real, not simply ideological, and should be a central part of the American economy. We’ll encourage growth, she says, by creating employment — not the opposite. And employment begins with targeting women and racial minorities as the benefactors of policy.

Will the Crisis of Confidence at Deutsche Bank Spread?

NEP’s Bill Black recently appeared on [email protected]’s radio show discussing the issues related to the settlement the DOJ is pursuing from Deutsche Bank. It has also appeared on the website. You can view it here.

‘Two Million Felonies’: Will The Wells Fargo Scandal Finally Change Wall Street?

Nothing clarifies the mind of a bank board member than the loss of lucrative business deals. Wells Fargo’s CEO says he will pay a penalty for presiding over his bank’s fraud wave. Could stricter sanctions follow, perhaps even a criminal investigation?

We spoke with William K. Black Jr., economist and white-collar criminologist, about the implications of the Wells Fargo case and the laws that might have been broken.

Rest of the post is at Huffington Post. Read it here.