therealmovement.wordpress.com
For the Left a society without labor is the only real catastrophe | The Real Movement
https://therealmovement.wordpress.com/2015/07/31/for-the-left-a-society-without-labor-is-the-only-real-catastrophe
Communism is free time and nothing else! For the Left a society without labor is the only real catastrophe. At first I didn’t know what to make of this. Post “The New Prometheans: Technology and the Dreams of Reason”. On twitter, the author, S. C. Hickman subtitles the post,. 8220;Reconstructing Communism in an Age of Despair”. The post draws on Brassier’s argument that “. This is, of course, the information age take on Luxemburg’s. 8220;Socialism or Barbarism”. Socialism or Barbarism”. Approach of the L...
therealmovement.wordpress.com
Deflation is good for you and here’s why | The Real Movement
https://therealmovement.wordpress.com/2015/08/13/deflation-is-good-for-you-and-heres-why
Communism is free time and nothing else! Deflation is good for you and here’s why. I had a short exchange with someone last night about this tweet on deflation:. Davidkorowicz: Deflation [here] we come, and though not polite to say in civilized conversation, the limits to growth are shadowing our present moment. The alleged mechanism of the negative effects of deflation on the working class are these:. Your company gets less income so they lay you off or cut your wages. So which is worse? For one thing t...
thetruthaboutunemployment.wordpress.com
What causes unemployment? | The truth about unemployment
https://thetruthaboutunemployment.wordpress.com/2012/09/17/what-causes-unemployment-2
The truth about unemployment. The mainstream media rarely tells the truth about unemployment, when it does here`s what it says. September 17, 2012. In February 2008, when the prospect of a recession in the UK was being debated, the Daily Telegraph published a revealing interview with former City financier David Freud. 8220;Yes, because we should have recessions every five or six years and we are due one”. The most damning evidence for this despicable policy can be found in the minutes of the monthly meet...
longandvariable.wordpress.com
Corbynistas need reminding what central bank independence is and why it’s good | longandvariable
https://longandvariable.wordpress.com/2015/08/14/corbynmaniacs-need-reminding-what-central-bank-independence-is-and-why-its-good/comment-page-1
A blog on macroeconomics and public policy by Tony Yates. 'The Velvet Underground of Blogs' [Toby Nangle]. About me and this blog. Econ resources and links. Homepage [teaching, research…]. Reading list from Twitter. Should Mark Carney be weighing in over Corbynomics? Corbynistas need reminding what central bank independence is and why it’s good. August 14, 2015. These points will be old hat to economics cognoscenti, but they need repeating because of how the debate about ‘Corbynomics’ has been conducted.
petermartin2001.wordpress.com
German euros and Greek euros. Are they really the same? | Modern Monetary Theory: Real Economics
https://petermartin2001.wordpress.com/2015/07/08/german-euros-and-greek-euros-are-they-really-the-same
Modern Monetary Theory: Real Economics. The economy doesn't work like most people think it works! Germany vs Greece. The end game? German euros and Greek euros. Are they really the same? July 8, 2015. Just like the US dollar, the euro is a single currency which is shared by 19 countries of the European Union. The ECB can only refuse to guarantee them on a par with other euros so instantly the Greek euro would float. If the BoG issued euros without ECB approval then we’d have a new currency. The...They wi...
originofspecious.wordpress.com
Infinite Debt, Future Generations, and Hilbert’s Hotel | Origin of Specious
https://originofspecious.wordpress.com/2015/08/10/infinite-debt-future-generations-and-hilberts-hotel
Philosophy and economics, mostly. Infinite Debt, Future Generations, and Hilbert’s Hotel. Commenting on my last post, Nick Rowe helpfully explained his argument. That governments, by running deficits, can ‘steal from the future to give to the present’. I now see his point. Simon Wren-Lewis gives a similar explanation. Here I want to get onto something more mathematically interesting. An interesting sort of Hilbert’s Hotel. Scenario to show that debt can be used to create intergenerational inequalities.
originofspecious.wordpress.com
Accounting for **** | Origin of Specious
https://originofspecious.wordpress.com/2015/08/05/2420
Philosophy and economics, mostly. Accounting for * *. A commentator on my last post at Mike Norman Economics. Who gives his name simply as ‘John’, made the following interesting comment:. I heard a nice, intuitive and very easy argument recently that puts loanable funds to bed. No fancy mathematics, no convoluted diagrams, just a straight simple argument that goes like this:. When the government borrows, from whom does it borrow? The private sector who have funds in the financial system, right? The textb...
longandvariable.wordpress.com
Corbynistas need reminding what central bank independence is and why it’s good | longandvariable
https://longandvariable.wordpress.com/2015/08/14/corbynmaniacs-need-reminding-what-central-bank-independence-is-and-why-its-good
A blog on macroeconomics and public policy by Tony Yates. 'The Velvet Underground of Blogs' [Toby Nangle]. About me and this blog. Econ resources and links. Homepage [teaching, research…]. Reading list from Twitter. Should Mark Carney be weighing in over Corbynomics? Corbynistas need reminding what central bank independence is and why it’s good. August 14, 2015. These points will be old hat to economics cognoscenti, but they need repeating because of how the debate about ‘Corbynomics’ has been conducted.
originofspecious.wordpress.com
William Godwin on Debt | Origin of Specious
https://originofspecious.wordpress.com/2015/07/12/william-godwin-on-debt
Philosophy and economics, mostly. William Godwin on Debt. William Godwin (1756-1836) did not philosophically address the question of debt obligations, although he often had many. Perhaps this helps to explain the omission; it’s overwhelmingly likely that Godwin would deny that there is such a thing as the obligation to repay debts, and his creditors wouldn’t have liked to hear that. A debt is a type of promise, and Godwin denies that promises generate obligations. It is not that we should. Bk3, Ch.3.
originofspecious.wordpress.com
Macroeconomic Theory and Operational Reality | Origin of Specious
https://originofspecious.wordpress.com/2015/08/03/macroeconomic-theory-and-operational-reality
Philosophy and economics, mostly. Macroeconomic Theory and Operational Reality. If I taught macroeconomics, I’d get students to read a lot of operational documents before doing anything else. Let’s be clear on the institutional, operational facts before we start modelling anything. In the UK, I’d have the class read things like the Bank of England Redbook. HM Treasury’s Debt and Reserves Management Report. The Whole of Governments Accounts. What this tells you is that the Bank of England. Students then w...