Monthly Archives: June 2012

Response to Blog 50: Conclusion – Minsky and the Job Guarantee

Posted on June 8, 2012 by | 32 comments

By L. Randall Wray

As I said I am not going to provide responses to comments on the final blogs of the primer. In any case, the commentary has degenerated into a chat room utilized largely by aging retirees who do not understand that we’ve got at least 25 million people in the US who want full-time jobs but cannot obtain them. The JG is a program designed to offer jobs to those who want to work. If our aged retirees are correct, we’ll offer the JG at and no one will show up to claim the job. I cannot see what all the fuss is about. Continue reading →

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Posted in L. Randall Wray, MMP

William K. Black: Abacus Bank Indicted for Mortgage Fraud – More Prosecutions to Come?

Posted on June 8, 2012 by | 3 comments

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Posted in William K. Black

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Social Security: Financial, Real and Political Constraints

Posted on June 8, 2012 by | 44 comments

By Tracy Marvin

This is the last (most certainly not least) of the videos produced by Eric Tymoigne’s students in his modern money course at Lewis & Clark College.

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Posted in Uncategorized

The Eurozone as a Modern Day ‘Merchant of Venice’

Posted on June 7, 2012 by | 4 comments

By Marshall Auerback
(Readers may skip directly to the post. But why would you?)

PORTIA

A pound of that same merchant’s flesh is thine;
The court awards it, and the law doth give it.

SHYLOCK:

Most rightful judge!

Continue reading →

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Posted in Marshall Auerback

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Why We Can’t Afford a Bus-Ride

Posted on June 6, 2012 by | 21 comments

By J.D. Alt

Today I cut out of the Wall Street Journal an article and photo that, in combination, illustrate the absurd plight we have placed ourselves in as a society by insisting that we are too poor to create the things we really need. The article is about the Pittsburgh metro area and how it is drastically reducing its public transit routes (as well as increasing fares) in order to cope with a $64 million deficit in its operating funds. The accompanying photo was of a young, bright-looking mother of two day-care aged children (the article explained) sitting at a bus stop that will soon be removed, waiting not for a ride to her job, but for a ride to a job placement agency where she spends four hours a day looking for work. When her bus route is eliminated, she won’t even be able to get to the placement agency. And this is America, the great achievement of modern civilization. I hang my head in shame.

Continue reading →

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Posted in Uncategorized

Resolved: Economic Democracy and Visionary Public Purpose

Posted on June 4, 2012 by | 56 comments

By Dan Kervick

According to their website, the Alternative Banking Working Group is “a group of concerned citizens, activists, and financial professionals with two goals: the first is to explore and, if possible, establish alternative banking systems that might replace the current system. The second goal is to broadly understand and educate people about the current financial system, as well as come up with short and long term plans to improve it.”

Continue reading →

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Posted in Dan Kervick, Modern Monetary Theory

Honest Mom, I only bought the new Playboy to read the article on UMKC Economics

Posted on June 4, 2012 by | 57 comments

By William K. Black

The UMKC economics department is featured in an article in the current Playboy that discusses the failure of theoclassical economics and economists to admit their theoretical and policy errors.  The devotion of theoclassical economists to those errors has proven so dogmatic that their disastrous policies have created the ever more criminogenic environments that drive our recurrent, intensifying financial crises. Continue reading →

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The WSJ’s Hit Piece on Holder

Posted on June 1, 2012 by | 14 comments

By William K. Black

I am a fierce critic of Attorney General Eric Holder.  I have long called for his resignation, and continue to do so, for his failure to investigate and prosecute the elite frauds that drove our financial crisis.  So, my response to the Wall Street Journal’s editorial denouncing “Holder’s Racial Incitement” is motivated solely by the fact that the WSJ editorial is so foul and tendentious about Holder’s comments, America, and the partisan effort to deprive American citizens of one their most precious rights – the right to vote – that it compels response. Continue reading →

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Posted in William K. Black