Full title: "Doing What Needs to Be Done: Facing the Future with Full Employment and a Renewed Public Sector' By Dan Kervick, UMKC(?) New Economic Perspectives blog,

As you read this, millions of Americans who desperately want to work either cannot find employment at all, or cannot find the quantity and quality of work they need to meet their own needs and the needs of their families. This is real suffering. The unemployed are real flesh-and-blood people, not just fractions of percentage points on Labor Department spreadsheets.

Readers, at some level economics is all about politics, leastways in an oligarchically dominated electoral democracy. It all comes back to defining the assumptions related to the economic and fiscal model being used. CLEARLY, this the result of political subversion that to some extent has been part of the legacy of the US since the drafting of the Constitution. BTW the bill of Rights was a political ploy to get the Constitution approved by the confederated states, and the US Constitution hard wired the primary importance of private property into our legal structure.

Readers, this article covers familiar territory, but from a much different source that has been typical here. What the author refrains from saying directly is that the Bretton Woods agreement was foremost in the interest of the Wall Street bankers and their speculators. It was the US Treasury Secretary Harry Dexter White, a corporate banker himself, which pressed for using the US Dollar as the basis of the new international monetary regimen. His legacy is obscured by describing him as an "internationalist," which in a rarefied sense he was.

Dear readers, there are brief moments when I am embarrassed by how many articles I've reposted by Michael Hudson, but really, his material is awesomely deep and broad, and the creme of current institutional economics. This is also the question that I had to pose to myself at one point as a basis to sort one agenda for monetary and economic reform in preference to other sources claiming to have something relevant to add to the process. Focusing in upon the nature of the economic outcomes from historical fiscal policies, not the emptied positivistic econo-ideology.

For General Electric Co., hawking subprime mort­gages was a long way from making light bulbs and jet engines.

That didn't stop the industrial giant from jumping into the subprime business in 2004, lending blue-chip re­spectability to the market for risky home loans by pay­ing roughly half a billion dollars to buy California-based WMC Mortgage Corp.

All is not as it appears in the global oil markets, which in my view have become entirely dysfunctional and no longer fit for its purpose. I believe that the market price is about to collapse as it did in 2008 and that this will mark the end of an era in which the market has been run by and on behalf of trading and financial intermediaries.

In this post I forecast the imminent death of the crude oil market, and I identify the killers; the re-birth of the global market in crude oil in new form will be the subject of another post.
*
Global Oil Pricing*

Hello readers, This article is a piece of a monetary primer that L. Randall Wray as been developing. It is a fairly clear review of the principles and implications of Lerner's Functional Finance. as we go, Tadit

Hello there traveler, This is fairly succinct statement of perspective congenial with a metaphysics of "being." "Historical" is probably the intent of Marx and others within the domain of institutional economics. Though I greatly appreciate Zabala's essay, the absent link is that the mode of socialization involved omits fiscal policies other than as defined to reduce inequality. It is also true that the influence of the imperial north has been embedded by western context political economics, ie neo-classical and monopolist.

The financial scandal and the Great Recession that it caused have understandably captured the bulk of our attention, but we must not lose sight of the fact that “control frauds” continue to maim and kill enormous numbers of people and damage the environment and society throughout the world. Several examples of these frauds have led to recent press reports. I write to point out that control fraud is the common feature of these scandals.

Readers, this is offered mostly as a confirmation of other articles on this topic that have been posted here. The same attribution can be applied to the corporatist lemmings that are driving the the current dash into the sea. The next phase of the reaction to the econo-ideology which has both caused the original melt-down and now this entirely wrong and un-necessary econo-ideological plundering of the nations hardest hit by the culture of fraud and exemption oiled by the purchase of politicians at a wholesale rate.