socialist-economics

John Case has sent you a link to a blog: Blog: EPIC Radio Podcasts Post: The Poetry Show Podcast featuring Dame Carol Ann Duffy Link: http://podcasts.enlightenradio.org/2017/01/the-poetry-show-podcast-featuring-dame.html -- Powered by Blogger https://www.blogger.com/

Markets enjoying a sugar high that will not last http://larrysummers.com/2017/01/29/markets-enjoying-a-sugar-high-that-will-not-last/ This week the Trump rally continued as the Dow crossed 20,000 and our President issued  a celebratory tweet . How much does this mean? To what extent is it a vindication of the economic policy approaches pursued by the new Administration? Will the post election rally continue? No one knows these answer and market timing is a fool's game but I remain persuaded that markets and the economy are most likely enjoying a sugar high that will not last a year. First Dow 20,000 is a meaningless benchmark and crossing it means little. Its numerology not analysis to focus on round numbers. The Dow is an odd and arbitrary index which weights companies by their share price not their market value. It is highly limited in who is included with Goldman Sachs accounting for  over 20 percent  of the gain in the 30 stock index since election day. Second, as Bob Rubin con...

Truthiness on Trade http://cepr.net/publications/op-eds-columns/truthiness-on-trade With the official death of the Trans-Pacific Partnership (TPP) and the likely renegotiation of the North American Free Trade Agreement (NAFTA), the proponents of these deals are doubling down in their defense of the current course of US trade policy. While there are serious arguments that can be made in defense of these policies, advocates are instead seeking to deny basic reality. These trade policy proponents are trying to deny that these policies have hurt large segments of the workforce and are claiming that the people, who believe that they were hurt by trade, are simply misinformed. The proponent's story is that the real cause of job loss was the impersonal force of technology, not a trade policy that deliberately placed US manufacturing workers in direct competition with low paid workers in the developing world. Fortunately this is a case where the facts are clear. The people who think they w...

EPIC Radio Podcasts: Fanny Interviews legendary labor organizer Stewart... : Fanny interviews legendary organizer Stewart Acuff Jan 24th, 2017 by democracyroad Storytelling with Fanny Crawford: Fanny elicits a d...

John Case has sent you a link to a blog: Blog: EPIC Radio Podcasts Post: Fanny Interviews legendary labor organizer Stewart Acuff Link: http://podcasts.enlightenradio.org/2017/01/fanny-interviews-legendary-labor.html -- Powered by Blogger https://www.blogger.com/

John Case has sent you a link to a blog: Blog: EPIC Radio Podcasts Post: Interview with Sammi Brown Link: http://podcasts.enlightenradio.org/2017/01/interview-with-sammi-brown.html -- Powered by Blogger https://www.blogger.com/

John Case has sent you a link to a blog: Blog: Eastern Panhandle Independent Community (EPIC) Radio Post: Monday Lineup on EPIC Radio, Jan 30, 2017 Link: http://www.enlightenradio.org/2017/01/monday-lineup-on-epic-radio-jan-30-2017.html -- Powered by Blogger https://www.blogger.com/

John Case has sent you a link to a blog: Check out the revised EPIC Calendar. Get involved in community educational radio Blog: Eastern Panhandle Independent Community (EPIC) Radio Post: EPIC Calendar Link: http://www.enlightenradio.org/p/epic-calendar.html -- Powered by Blogger https://www.blogger.com/

pLEASE FORWARD TO OTHER ACADEMICS Petition and instructions at link.  https://notoimmigrationban.com / Here's some press:  20 Nobel laureates, thousands of academics sign protest of Trump immigration order https://www.washingtonpost.com /news/grade-point/wp/2017/01/2 7/eleven-nobel-laureates-thous ands-of-academics-sign-protest -of-trump-immigration-order/ The list is already huge. But here's something everyone at or near a campus can do: search through for your campus and see whom you know who hasn't yet signed.  ACADEMICS AGAINST IMMIGRATION EXECUTIVE ORDER THE PETITION   OTHER SIGNATORIES   PRESS RELEASE   PRESS COVERAGE       Navigation                                  The Petition                                                           Other Signatories                                                           Press Release                                                           Press Coverage                                   We are still gathering and verifyi...

http://ritholtz.com/2017/01/bill-gates-warren-buffet-columbia-university/

Eastern Panhandle Independent Community (EPIC) Radio: New EPIC Podcasts : Check out these new podcasts of EPIC Radio Shows The Hound Dog and Abel Eakin Show does Shepherdstown Truth. Jan 27 Paris on the Pot...

John Case has sent you a link to a blog: Blog: Eastern Panhandle Independent Community (EPIC) Radio Post: New EPIC Podcasts Link: http://www.enlightenradio.org/2017/01/new-epic-podcasts.html -- Powered by Blogger https://www.blogger.com/

John Case has sent you a link to a blog: Blog: Resistance News Post: Stewart Acuff’s Inaugural RESISTANCE RADIO Show Link: http://resistance.enlightenradio.org/2017/01/stewart-acuffs-inaugural-resistance.html -- Powered by Blogger https://www.blogger.com/

Arrivals To U.S. Blocked And Detained As Trump's Immigration Freeze Sets In http://www.npr.org/sections/thetwo-way/2017/01/28/512158238/arrivals-to-u-s-blocked-and-detained-as-trumps-immigration-freeze-sets-in Less than a day after President Trump suspended immigration from seven countries, airports in the U.S. and abroad are seeing the effects. Several passengers have been held or blocked from entry. (Image credit: Olivier Douliery-Pool/Getty Images) VISIT WEBSITE  -- via my feedly newsfeed

Real GDP increased at 1.9% Annualized Rate in Q4 http://economistsview.typepad.com/economistsview/2017/01/real-gdp-increased-at-19-annualized-rate-in-q4.html Calculated Risk: From the BEA:  Gross Domestic Product: Fourth Quarter and Annual 2016 (Advance Estimate) Real gross domestic product (GDP) increased at an annual rate of 1.9 percent in the fourth quarter of 2016, according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.5 percent.  ... The increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, residential fixed investment, nonresidential fixed investment, and state and local government spending that were partly offset by negative contributions from exports and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased. The deceleration in real GDP in the fourth quarter r...

Links for 01-27-17 http://economistsview.typepad.com/economistsview/2017/01/links.html Border Tax Two-Step (Wonkish) - Paul Krugman LaTeX reduces writing productivity - The .Plan DeLong on Rodrik on Delong on NAFTA - Equitable Growth The Price of U.S. Imports From China Keeps Falling - Brad Setser Do Political Institutions Still Rule? On Acemoglu and Trump - Jared Rubin Why currency devaluations are losing power - Microeconomic Insights Trump May Delay a Factory's Exit, but He Won't Stop It - Justin Wolfers Financial Trust Index: Low-Income Whites are Angry - ProMarket How Should Regulators Deal with Uncertainty? - Bank Underground he UK's 1976 IMF crisis in the light of modern theory - mainly macro Why Latin America and Africa Struggle to Grow - Noah Smith  -- via my feedly newsfeed

Thinking straight about fair trade http://rodrik.typepad.com/dani_rodriks_weblog/2017/01/thinking-straight-about-fair-trade.html In the previous  entry , I discussed the real-world distributional effects of trade agreements, in the specific case of NAFTA. Why should we care about such redistribution and how should we deal with it? It is useful to distinguish between two different versions of an argument as to why trade may be problematic from a social or political perspective. Trade is problematic because it redistributes income. Trade is problematic because it violates norms and understandings embodied in our institutional arrangements – it undercuts domestic social bargains. The first case is no different than a million other things in a market economy that can have distributional implications. It does not in general require that we target trade specifically. But the second case is different, and  may  require trade remedies. I associate the valid core of fair-trade or social-dumping...

Trade War Threat Grows http://triplecrisis.com/trade-war-threat-grows/ Jomo Kwame Sundaram New American President Donald Trump has long insisted that the United States has been suffering from poor trade deals made by his predecessors. Renegotiating or withdrawing from these deals will be top priority for his administration which views trade policy as key to US economic revival under Trump. What will that mean? The new administration promises 'tough and fair agreements' on trade, ostensibly to revive the US economy and to create millions of mainly manufacturing jobs. The POTUS is committed to renegotiating the North American Free Trade Agreement (NAFTA), signed in 1994 by the United States, Canada and Mexico. And if NAFTA partners refuse what the White House deems to be a 'fair' renegotiated agreement, "the President will give notice of the United States' intent to withdraw from NAFTA". Constraints? Presidential fiat may well be extended in radically new wa...

As I always say, don't conflate trade deals with trade (or the trade deficit) http://jaredbernsteinblog.com/as-i-always-say-dont-conflate-trade-deals-with-trade-or-the-trade-deficit/ Over at  the NYT . Special for OTE readers, parts that had to be cut for space: "Since the mid-1970s, the US has regularly imported more than we've exported. Net exports (exports-imports) have averaged just under -4 percent of GDP since 2000. Trade deficits are by definition a drag on growth, and that's especially true in sectors, like manufacturing, that drive the deficit. By linking the trade deficit to manufacturing job loss, Trump made a legitimate argument that resonated with some of his core voters. There are, of course, many moving parts in the economy, and the trade deficit's drag on growth has often been offset by other components of GDP. In 2007, the trade deficit was -5 percent of GDP while the unemployment rate was a low 4.6 percent. But the offset in play—the housing bubbl...

The Fruits of Growth: Economic Reforms and Lower Inequality https://blog-imfdirect.imf.org/2017/01/26/the-fruits-of-growth-economic-reforms-and-lower-inequality/ v  -- via my feedly newsfeed

Paul Krugman: Making the Rust Belt Rustier http://economistsview.typepad.com/economistsview/2017/01/paul-krugman-making-the-rust-belt-rustier.html Will Trump Repeat Reagan's mistake?: Making the Rust Belt Rustier : Donald Trump ... appears serious about his eagerness to reverse America's 80-year-long commitment to expanding world trade. On Thursday the White House said it was considering a 20 percent tariff on all imports from Mexico; doing so wouldn't just pull the U.S. out of NAFTA, it would violate all our trading agreements. ... Taken together, the new regime's policies will probably lead to a faster, not slower, decline in American manufacturing. How do we know this? We can look at the underlying economic logic, and we can also look at what happened during the  Reagan years , which in some ways represent a dress rehearsal for what's coming. ... What Reagan did ... was blow up the budget deficit with military spending and tax cuts. This drove up interest rates, ...

New Issue! http://dollarsandsense.org/ blog/2017/01/new-issue-7.html Our January/February issue is finally out–sent to e-subscribers a couple of days ago, and in the mail to print subscribers.  We most recently posted David Bacon's contribution to the issue,  What Trump Can and Can't Do to Immigrants , especially timely given Trump's recent executive orders. Here is the issue's editorial note: Arise! If you've just awakened from a Rip Van Winkle-like sleep, you should probably stay lying down for a little while. You're in for a shock. A presidential candidate who slandered Mexican immigrants as criminals and rapists, claimed a Mexican-American judge was inherently biased against him, called for a ban on Muslims coming to the United States, called for compulsory registration of Muslims in the country, boasted of sexually assaulting women, insinuated that gun advocates might assassinate his opponent, and pledged to abide by the election result "if I win"...

John Case has sent you a link to a blog: Blog: Eastern Panhandle Independent Community (EPIC) Radio Post: Big Lineup for Friday on EPIC Radio Link: http://www.enlightenradio.org/2017/01/big-lineup-for-friday-on-epic-radio.html -- Powered by Blogger https://www.blogger.com/

Austerity Economics has just been Smashed. By the IMF. http://www.globalpolicyjournal.com/blog/26/01/2017/austerity-economics-has-just-been-smashed-imf Sometimes an ideology is so brilliantly propagated that observers might not even notice it's an ideology. In the corridors of power and in mainstream discussion, it ceases to be questioned. Then it goes catastrophically wrong. And it begins to seen again for the ideology it is. It becomes questioned again. And, if they are smart, leaders hear this and start to self-correct. This is where we've got to with neoliberalism, austerity, and rising inequality. Except for the self-correct part. Right now, instead of self-correction, we're seeing many mainstream politicians unable to shift away from dead economics, and what seems in too many countries like the start of social breakdown. Change is well overdue. Who can prompt leaders to drop the old economic nostrums are causing so much harm? Enter the IMF with a sledgehammer. Progres...

The Color of Law: A Forgotten History of How Our Government Segregated America http://www.epi.org/publication/the-color-of-law-a-forgotten-history-of-how-our-government-segregated-america/ In  The Color of Law  (to be published by Liveright in May 2017), Richard Rothstein argues with exacting precision and fascinating insight how segregation in America—the incessant kind that continues to dog our major cities and has contributed to so much recent social strife—is the byproduct of explicit government policies at the local, state, and federal levels. To scholars and social critics, racism in our neighborhoods has long been viewed as a manifestation of unscrupulous real estate agents, unethical mortgage lenders, and exclusionary covenants working outside the law. This is what is commonly known as " de facto  segregated," practices that were the outcome of private, not legal or public policy, means. Yet, as Rothstein breaks down in case after case, until the last quarter of the 2...

A good review of some not so obvious angles on inequality trends. Why the Surge in Income Inequality? Lane Kenworthy First Published January 9, 2017  product-review   Income inequality is more severe in the United States than in any other affluent longstanding-democratic country, and it has increased sharply in the past generation. The rise in inequality is mainly a story of growing separation between households in the top 1 percent and those in the "bottom" 99 percent. Income inequality within the lower 99 percent increased in the 1980s and 1990s, but since then it hasn't changed much. A common measure of top-end income inequality is the share of income that goes to the top 1 percent of households. According to the World Wealth and Income Database ( Alvaredo et al. 2016 ), the top 1 percent's share of pretax income increased from 18 percent in 1913, the first year of available data, to 24 percent in 1928. It then fell sharply during the Great Depression and World War...