Department of Analytical Tools
After reading one of my rants about the stupidity of policies aiming at a balanced budget, somebody in my Facebook environment, commented by saying: “1 + 1 = 2.” Here's my answer.
Yes, 1+1 = 2.
Now here's an accounting identity from macroeconomics, called the Sectoral Financial Balances (SFB) model:
Domestic Private Balance + Domestic Government Balance + Foreign Balance = 0.
It's like 1 + 1 = 2. But just slightly more "wonkish." Read more about One + One = Two (Not Too Wonkish)
I'm still processing Hedges' rant on TruthDig - I was so struck by his endorsement of violence in Greece and his condemnation of violence her in this country. I found an interesting essay at Viewpointmag.com via a comment on SMBIVA and this passage struck me as something that we should all chew on: Read more about Thinking About Oakland
I followed a link in Eureka Springs' comment on DCbloggers' Tweet of the Day post to Zunguzungu and then followed a link in that essay to an essay by Darwin Bond Graham, which provides some interesting background on the events that have taken place in Oakland in the last few years. It is very interesting reading and I recommend it. Read more about Thoughts on Oakland
Robert Prasch has what I think is a pretty good piece on Obama's SOTU address over at Translation Exercises, if anyone wants to mosey on over there. I am not at all familiar with Robert Prasch, so I would welcome the reaction of Correntians who are well-versed in economics to his work. Read more about Robert Prasch on Obama's SOTU address
The recent extensive blogosphere discussion on the JG and the MMT core began with a post by John Carney that stated his opposition to the Modern Monetary Theory (MMT) Job Guarantee proposal and claimed it either wasn't an essential component of MMT, or that if it was, then MMT was wrong. Cullen Roche, a well-known popularizer of MMT at his Pragmatic Capitalism blog then asserted: Read more about The Job Guarantee and the MMT Core: Part Fourteen, MMT Is A Holistic Knowledge Claim Network
Perhaps this is cheating, but rather than giving a link to follow, I'm reproducing a newspaper column by David Sirota. The original can be found here. He makes a very good point - one that I think is the reason that liberals are foaming at the mouth about Ron Paul. Agree or disagree?
Our Selective Definition of Bigotry
"If they have any value at all anymore, presidential election campaigns at least remain larger-than-life mirrors reflecting back painful truths about our society. As evidence, ponder the two-sided debate over Republican candidate Ron Paul and bigotry. Read more about David Sirota on Bigotry
"That is why the politics of freedom refuses to view the state as the conservative does: as a constraint. Or as the welfare-state liberal does: as a distributive machine. Instead, it views the state the way the abolitionist, the trade unionist, the civil rights activist and the feminist do: as an instrument for disrupting the private life of power. The state, in other words, is the right hand to the left hand of social movement." Read more about More From Corey Robin
I'm browsing around Corey Robin's site, after being pointed in that direction by Lambert. There's some challenging writing over there. For those of us who are committed to the de-centralization and localization movement as a response to the crimes of the centralized State, there is lots of food for thought over there. You might want to start with this essay. Quite interesting. Read more about Anarchism, Libertarianism & the Coercive State
Glenn Greenwald has an excellent column on the consternation Ron Paul causes progressives. He makes the point that I've been trying to make all along:
"It’s unfortunate that both political parties, and the current President, are largely in agreement on these vital issues. Finding ways to subvert that consensus is imperative for anyone who actually believes in their importance."
The "vital issues" that Greenwald refers to are, among others, shredding the Constitution, authoritarian secrecy, civilian deaths, and legal black holes. Read more about Glenn Greenwald on Democrats