socialist-economics

http://www.bsg.ox.ac.uk/sites/www.bsg.ox.ac.uk/files/documents/BSG-WP-2016-014.pdf -- John Case Harpers Ferry, WV The Winners and Losers Radio Show 7-9 AM Weekdays, Eastern Panhandle Independent Community (EPIC) Radio  Stream,  Sign UP HERE to get the Weekly Program Notes. Check out Socialist Economics . Check out The EPIC Radio website

Men Without Work http://larrysummers.com/2016/09/26/men-without-work/ Over the weekend, the FT published  my review  of Nicholas Eberstadt's important new book  Men Without Work .  The core message is captured in the graph below.                   Job destruction caused by technology is not a futuristic concern.  It is something we have been living with for two generations.  A simple linear trend suggests that by mid-century about a quarter of men between 25 and 54 will not be working at any moment. I think this is likely a substantial underestimate unless something is done for a number of reasons.  First everything we hear and see regarding technology suggests the rate of job destruction will pick up.  Think of the  elimination of drivers , and of those who work behind  cash registers .  Second, the gains in average education and health of the workforce over the last 50 years are  unlikely to be repeated .  Third, to the extent that non-work is contagious, it is likely to grow exp...

Trade, trickle down, and the Fed: Revisiting three points from the big debate http://jaredbernsteinblog.com/trade-trickle-down-and-the-fed-revisiting-three-points-from-the-big-debate/ Before the first presidential debate fades into the next news cycle, there are three economic points that bear revisiting: We need a new paradigm for trade policy.  The outsider campaigns of Trump and Sanders, along with the realities of many people and communities hurt by globalization, have elevated international trade as a major issue in this election. Trump advertises an unrealistic nostalgia, a return to a time when trade flows were a fraction of their current size. His word salad on the issue the other night underscores the fact that there is no coherent plan to get back there even if we wanted to. Clinton correctly points out that "we are 5 percent of the world's population; we have to trade with the other 95 percent." She aspires to reshape, not restrain, globalization. What's ne...

How Shimon Peres brought inflation down in 1985 http://rodrik.typepad.com/dani_rodriks_weblog/2016/09/how-shimon-peres-brought-inflation-down-in-1985.html I saw Shimon Peres, who passed away yesterday, only once and it was at a conference on inflation stabilization in Jerusalem in 1990. He had led the national unity government during 1984-86 which had successfully brought down the country's triple-digit inflation. The conference organizer, the great Michael Bruno, had asked him to give an after-dinner speech. When Peres took office, the budget deficit stood at more than 15% of GDP. Everyone at the conference wanted to know how he had managed to bring it down so quickly. Peres said it was actually quite easy. He called a cabinet meeting -- Labour and Likud had an equal number of cabinet seats -- and announced that the meeting would not end until the requisite expenditure cuts had been agreed upon. The meeting went on and on, with each minister zealously guarding his turf. But as Per...

John Case has sent you a link to a blog: Blog: Eastern Panhandle Independent Community (EPIC) Radio Post: Labor's West Virginia Heartbeat... Link: http://www.enlightenradio.org/2016/09/labors-west-virginia-heartbeat.html -- Powered by Blogger https://www.blogger.com/

---------- Forwarded message ---------- From: Economic Policy Institute < newsletter@epi.org > Date: Wed, Sep 28, 2016 at 11:19 AM Subject: The Chamber is challenging the rights of 12.5 million workers To: johnwshc@gmail.com ...

John Case has sent you a link to a blog: Blog: Eastern Panhandle Independent Community (EPIC) Radio Post: Are You Crazy? Really? Link: http://www.enlightenradio.org/2016/09/are-you-crazy-really.html -- Powered by Blogger https://www.blogger.com/

Eastern Panhandle Independent Community (EPIC) Radio: Occupy -- Shepherdstown WV : OCCUPY West Virginia 7:30 TODAY! Call In Line: 304-885-0708 Streaming Live Discussion of Presidential Debate -- which I did not even ...

---- Mylan's EpiPen profit was 60% higher than what the CEO told Congress // L.A. Times - Business Lawmakers were skeptical last week when Mylan's chief executive said that the company made only $100 in profit for a two-pack of EpiPens. During a House hearing , she repeatedly referred to a poster board showing how little of the $608 list price trickled back to the company. The incredulity was... ---- Shared via my feedly newsfeed

---- Puerto Rico Economic Growth Package Should Include Work-Promoting Earned Income Tax Credit // Center on Budget: Comprehensive News Feed As a congressional task force studies proposals to boost economic growth in Puerto Rico, tax relief for low-income working families — delivered through an Earned Income Tax Credit — should be a key component of such a package. ---- Shared via my feedly newsfeed

Anatomy of a hawkish dove Jared Bernstein http://jaredbernsteinblog.com/anatomy-of-a-hawkish-dove/ Eric Rosengren, the President of the Boston Federal Reserve Bank, was one of three dissenting votes in the Fed's decision last week not to raise the benchmark interest rate they control. Since Rosengren has a pretty dovish record—he's not one to see spiraling inflation around every corner, when the data say otherwise—his dissent was surprising and interesting. Perhaps for that reason, he took the somewhat unusual step of explaining his vote in a note posted  on the Boston Fed's website. I've pasted in excerpts of his explanation (in italics), followed by my own annotations. I didn't want to pass up this opportunity to argue with a thoughtful guy about a big decision. ER: Since the most recent increase in the target for the federal funds rate last December, the economy has made further progress toward achieving the Federal Reserve's dual mandate (maximum sustainable...

Congressman John Lewis on the Opening of the National Museum of African American History and Culture https://www.whitehouse.gov/blog/2016/09/24/john-lewis-opening-national-museum-african-american-history-and-culture Congressman John Lewis sent the below message to the White House email list -- if you didn't get the message, you can  sign up here for updates . Watch President Obama speak at the dedication of the National Museum of African American History and Culture. I've been waiting to see this day for 15 years -- and in some ways, my whole life. I've loved history ever since I was a little boy. Growing up in the oppressive shadow of Jim Crow, my teachers would ask me to cut out photographs I found in magazines and newspapers of Rosa Parks, George Washington Carver, and other marchers for justice. I read about Booker T. Washington, reveled in the sounds of the Jubilee Singers, and prayed for a King to reach the mountaintop. To me, history is the foundation of a powerful l...

Trump's Agenda: A Recipe for Civil Unrest http://prospect.org/article/trump%E2%80%99s-agenda-recipe-civil-unrest AP Photo/ Evan Vucci Republican presidential candidate Donald Trump speaks to the Pastors Leadership Conference at New Spirit Revival Center, Wednesday, September 21, 2016, in Cleveland, Ohio.  D onald Trump finally got around to demonizing African Americans. The only surprise is how long he took to get there. Early in the campaign season, he raged about Muslims and demanded they be barred from entering the country. He labeled Mexican immigrants "rapists." He has insisted that a wall, built by the United States, paid for by Mexico, must rise along the southern border. But he held off on making broad, baseless generalizations about black people. African Americans listened carefully to Trump's rhetoric about Muslims and Mexicans: His horrendous poll numbers among blacks reflect a widespread understanding that nothing good can come of a Trump presidency. ...

Marx & Engels writings on Civil War still provocative 155 years later http://peoplesworld.org/marx-engels-writings-on-civil-war-still-provocative-155-years-later/ With a presidential candidate on the Republican side who is the darling of neo-Confederates, old style KKK-types, and alt-right white nationalists, there's no time like the present to review the United States' troubled history with racism. International Publishers' new and completely updated edition of  The Civil War in the United States  by Karl Marx and Friedrich Engels is an opportunity to do just that. What makes this collection of writings by these two giants particularly interesting, however, is not just the commentary they offer on the Civil War. As Professor Andrew Zimmerman, who edited this edition, says in his introduction, "Readers will not find a Marxist interpretation" of the war in this book. Instead, what it showcases is Marx and Engels in the process of applying their methodology of h...