economic analysis

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Steve Keen on the comparison of Keynes's Bancor against Sec US Treasury White's US Dollars as the global Reserve Currency

from Steve Keen
I was invited to give a speech on that topic to the Second Meeting of Ministers of Finance of the CELAC in Quito, Ecuador today (November 29 2013). In it I outlined Keynes’s Bancor proposal from Bretton Woods, explained why White’s plan was adopted instead, supported the proposal by Zhou Xiaochuan, the Governor of the Central Bank of China, to institute Keynes’s scheme, and proposed that Latin America could try a regional version of the same via the Bank of the South.

Against Regressive Taxation Posted on September 28, 2013 By Fadhel Kaboub Denison University, NEP blog

See the original article and graphs here:

I was recently asked to testify before the Ohio House of Representative’s Tax Reform Legislative Study Committee. I urged the committee to carefully consider the long-term negative consequences of the regressive tax policy for the State of Ohio and its residents. What follows is the gist of my testimony along with some of the data that I presented to the committee.

Matheus Grasselli: How Advanced Mathematics Can Support New Economic Thinking

This is useful interview revolving around constructive versus ideological uses of mathematics within economics.

Comparing Unemployment During the Great Depression and the Great Recession by William K. Black, NEP, UMKC April 5th

(I have put a copy of the conclusion at the beginnning to give an immediate idea where this article is going at the outset. Tadit )

When a Nation gives up its sovereign currency it puts its sovereignty at risk. It becomes subject to the attacks of the bond vigilantes and can be forced into situations in which it can offer its young people so little opportunity that it forces many of its best and brightest to flee the Nation.

The Communal System and the Principle of Self-Critique István Mészáros , Monthly Review

A mention of Istavan Meszaros in an honorific, deserves a bit more.

Itsván Mészáros is author of Socialism or Barbarism: From the ‘American Century’ to the Crossroads (Monthly Review Press, 2001), Beyond Capital: Toward a Theory of Transition (Monthly Review Press, 1995), and The Challenge and Burden of Historical Time: Socialism in the Twenty-First Century (forthcoming, Monthly Review Press, 2008).

"THE CRISIS AND THE LEFT - Change will come as the third world’s economies are hit harder" Prabhat Patnaik

In his new book, Power Systems, Noam Chomsky raises the question: why has the present economic crisis not evoked the sort of massive protest from the working class in the United States of America that the Great Depression of the 1930s did? True, the scale of unemployment today is not as large as it had been during the 1930s. Nonetheless it is substantial; and the crisis has already lasted five years with no end in sight. And yet, America remains a ‘desert’ in terms of any militant working-class mobilization against it.

"Hyperinflation! The Libertarian Fantasy That Never Occurs" By Philip Pilkington, Naked Capitalism

Hyperinflation! The Libertarian Fantasy That Never Occurs

/*By Philip Pilkington, a writer and research assistant at Kingston University in London. You can follow him on Twitter @pilkingtonphil*/

"Eight Elementary Errors of Economics" by Geoff Davies, June 20, 2012 Posted at Debtwatch

The Global Financial Crisis, the extreme inequality of wealth world-wide, the materialism of modern life and the dire state of the planet are not accidents, nor just unavoidable consequences of the nature of things. They are the result of the modern practice of economics, which makes elementary errors of accounting, evidence, perception and theory.

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