By Pavlina R. Tcherneva
Presidential hopeful Mitt Romney boasts support from the scientific community for his supply-side trickle-down economic proposal. It is outlined here, along with the list of economists endorsing the plan.
Several Nobel Prize winners grace the top of the list. Here is a quick look at some of these luminaries and their contributions to some of the most pressing problems of our time. Continue reading
By John Henry
John Locke is the “father” of property rights theory, and continues to be referenced in defense of private property. In the second volume of his Two Treatises of Government, Locke specified the conditions that must be satisfied in order for property to be deemed legitimate. Initially, any property taken from “the commons” (public or collective property) had to be based on one’s labor that was expended to improve that property. (While Locke focused on landed property, his argument applies more generally.)
By Joe Firestone
(Cross posted at Correntewire.com)
The Fiscal Times is a digital rag funded by Peter G. Peterson to propagandize the ideology of neoliberal austerity. Today, a Post by Josh Boak highlighted the proposal of “fixing” Social Security by lifting the cap Continue reading
By Michael Hoexter
Points of Agreement and Division (con’t)
United as they are in their critique of neoclassical economics, it would be a mistake to portray post-Keynesians as united among themselves, a further complication for the emergence of any unified message from anti-austerity economists. Continue reading
By William K. Black
(Cross-posted from Benzinga.com)
The inspiration for this article was an op ed in the Wall Street Journal by Wendy Long, the Republican/Conservative Party of New York’s candidate for the U.S. Senate. Long’s thesis is: Continue reading
By J.D. Alt
I recently saw a newspaper photo of ten or twelve men sitting on a crumbling stone wall beside a dirt road. It was somewhere in Africa, but the location doesn’t matter. What matters is that the men, as the caption made clear, were sitting on the wall because they had nothing else to do: they had no land to farm, there was no local job or employment available to them, they had no savings or credit with which to start some venture. Continue reading
By Michael Hoexter
I drafted the “Mixed Economy Manifesto” as one attempt to create a common basis for anti-austerity economists and non-economists to argue against, in the clearest terms possible, the waves of government spending cutbacks that are advocated by misguided elites, by the right-wing and by right-leaning neoclassical economists. Continue reading
Columbia Journalism Review (CJR) has a post giving kudos to William Black for his performance on CNBC’s Closing Bell. The episode’s topic was whether or not Goldman Sachs should or could be prosecuted on fraud charges for their part in the financial crisis.
William Saletan has written a column that epitomizes the media’s bizarre infatuation with Paul Ryan. Saletan entitles his piece “Why I Love Paul Ryan.” His intro summarizes his attraction to Ryan: “He’s what a Republican should be: an honest, open-minded, solution-oriented fiscal conservative.”
One of Governor Romney’s criticisms of President Obama is that he “takes his political inspiration from Europe….”
Romney never gives specifics on this criticism. The irony is that Romney (and Representative Ryan) “takes his political inspiration from Europe” and that the European policies they embrace have already proven disastrous in Europe. Here are five examples: Continue reading
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