W. Black’s 8/10 Appearance on CNBC’s Closing Bell

Posted on August 11, 2012 by | 10 comments

By William K. Black

My August 10th appearance on CNBC’s Closing Bell opposite Bethany McLean. The debate topic was the failure to prosecute Goldman Sachs for any role in the financial crisis.

 

 

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L. R. Wray’s Appearance on “Beneath the Surface” with Suzi Weissman

Posted on August 11, 2012 by | Comments Off on L. R. Wray’s Appearance on “Beneath the Surface” with Suzi Weissman

By L. Randall Wray

Podcast of my August 3rd appearance on Suzi Weismann’s Beneath the Surface on KPFK. Further discussion of “Why We’re Screwed”.

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Eduardo Porter’s “Folly”—Why we must end the “Race to the bottom”

Posted on August 9, 2012 by | 13 comments

By William K Black

Eduardo Porter began by studying physics but decided not to complete his studies and pursue a career in that field in favor of becoming a journalist.  He worked for the Wall Street Journal before joining the New York Times, where he writes a periodic column.  His primary interest is now economics.  I was intrigued by a recent column he did entitled “The Folly of Attacking Outsourcing.”

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Spain Proves that Austerity can never “Ensure” a Balanced Budget

Posted on August 6, 2012 by | 17 comments

By William K. Black
(Cross-posted from Benzinga.com)

The Wall Street Journal recently printed an economically incoherent and dishonest discussion of Spain’s budget deficit.  It begins its discussion with these paragraphs.

“Spain’s central government reported a new deterioration in its finances and struggled to impose budget discipline on the country’s restive regions as data showed a surge in capital flight from the euro zone’s fourth-largest economy.

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L. R. Wray’s Appearance on “From Alpha to Omega” Podcast

Posted on August 5, 2012 by | 12 comments

By L. Randall Wray

I recently appeared on the “From Alpha to Omega” podcast. You can access the episode via the web using the link below:

http://fromalpha2omega.podomatic.com/player/web/2012-08-05T08_51_21-07_00

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The Black Financial and Fraud Report: Agency Says No to Mortgage Relief

Posted on August 2, 2012 by | 4 comments

By William K. Black

The latest installment:

Via therealnews.com

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Thomas Palley Conflates the Conservative Party in the UK with UMKC

Posted on August 1, 2012 by | 4 comments

By William K. Black

Thomas Palley argues that the UK Conservative Party’s plan to abuse the unemployed “confirms” the accuracy of his opposition to MMT theorists’ employer of last resort/job guarantee (ELR/JG) proposals.  His logical chain is as follows.

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Why Don’t People Want Full Employment? Michal Kalecki’s 1943 Essay on Politics and Ideology

Posted on August 1, 2012 by | 25 comments

By Michal Kalecki*

I

1. A solid majority of economists is now of the opinion that, even in a capitalist system, full employment may be secured by a government spending programme, provided there is in existence adequate plan to employ all existing labour power, and provided adequate supplies of necessary foreign raw-materials may be obtained in exchange for exports.

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Charles Murray: Panderer to Fraudulent Plutocrats

Posted on July 31, 2012 by | 10 comments

By William K. Black

Murray’s Divine Rights of Plutocrats

Charles Murray believes that the wealthiest person should be made President of the United States.  “Who better to be president of the greatest of all capitalist nations than a man who got rich by being a brilliant capitalist?”

If the standard is wealth makes right, then the wealthier the person, the more appropriate that he should be made President.  There is no need for elections or fixed terms of office under this standard of political governance.  Whoever tops the Forbes list becomes President – that will create the appropriate competitive incentives.  Wealth being the full measure of a man there is no need for that the wealthiest person to be a U.S. citizen.  Under the Murray governance standard Mitt Romney’s problem is that he is not wealthy enough to be our ruler.  Carlos Slim can run all of North America south of Canada.

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Neoliberal Supply Side versus Keynesian Demand Side Approaches to Unemployment

Posted on July 30, 2012 by | 64 comments

By L. Randall Wray

Excellent piece up by Bill Mitchell on the Neoliberal “work for the dole” scheme (called the Community Action Programme). Neoliberals first throw millions of workers out of their jobs with fiscal austerity. (Note: the UK is monetarily sovereign, so this is a policy choice–there is no economic necessity to adopt austerity.) Next, they tell those who lost their jobs that if they want to collect the unemployment benefits to which they are entitled, they’ve got to work for the dole–for much less than the minimum wage.

Tom Palley calls this British ELR.

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