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neoliberalism

letsgetitdone's picture

Piketty's Neoliberal Capital

Let's get this out of the way. I agree with Piketty's overall conclusion in Capital about inequality, that: the distribution of wealth in many industrial nations is highly unequal, wealth concentration has been increasing; and there is a high likelihood that the extent of wealth inequality will continue to grow unless appropriate fiscal policy is used to reverse current trends. However, I don't agree with:

-- the framework he uses to define and specify “capital”;

-- the way he looks at Government finance and net worth; and

-- the fiscal policy proposals he offers to reduce Inequality and put a stop to current trends of growth in the capital to income ratio. Read more about Piketty's Neoliberal Capital

mellon's picture

Storm brewing in US states as they finally realize TTIP trade pact's "standstill" signs away their rights and attempts to irreversibly "freeze" future environment, chemical, food safety, and fracking laws, creating a potential minefield for the nation.

This could be a very important development. The links below give more information.. It should be noted that the US media has for at least the last 20 years, almost completely avoided covering these horrible trade deals in any more than the most superficial manner possible. So, although this standstill/investor-state problem with the FTAs is extremely important to dozens of areas (healthcare, where it blocks needed changes is a big one) the US media leaves Americans in the dark, perhaps intentionally. Read more about Storm brewing in US states as they finally realize TTIP trade pact's "standstill" signs away their rights and attempts to irreversibly "freeze" future environment, chemical, food safety, and fracking laws, creating a potential minefield for the nation.

letsgetitdone's picture

More Misdirection from Rampell in the Service of Generational War

In my last post, I took issue with a recent column by Catherine Rampell, who tries to make the case that seniors haven't paid for their Social Security and Medicare because they “generally receive” more in benefits out of these programs than they pay into them. Rampell relies on an Urban Institute study to make her case. Since that post, she's offered another that replies to some of the questions raised by commenters on her earlier effort. I'll reply to that new post shortly, but first I want to present key points emerging from my analysis of Federal monetary operations in my reply to her earlier post. See that post for the full argument.

First, once Congress mandates spending, there is no way that the Treasury can be forced into insolvency or an inability to pay its obligations as long as it is willing to make use of all the ways it can cause the Fed to create reserve credits in Treasury spending accounts which can then be used for its reserve keystroking into private sector account activities that today represent most of the reality of Federal spending. Read more about More Misdirection from Rampell in the Service of Generational War

danps's picture

Greenwald, Rosen, Scahill and the price of one's journalistic soul

A newly announced media has received a great deal of advanced praise from the left, but its owner's political leanings might shape its direction in a way progressives may not like.

Cross posted from Pruning Shears. Read more about Greenwald, Rosen, Scahill and the price of one's journalistic soul

letsgetitdone's picture

An MMT Fiscal Responsibility Narrative: Some Truths After A Second Crowd Sourcing Revision

Many MMT posts and other writings on fiscal responsibility, including my own, focus on the myths of neoliberalism, pointing out why they are myths and developing an alternative MMT perspective in some detail. Off hand, and I may have forgotten something, I couldn't think of a brief positive MMT narrative related to fiscal responsibility containing primarily the truths, rather than the myths. Read more about An MMT Fiscal Responsibility Narrative: Some Truths After A Second Crowd Sourcing Revision

letsgetitdone's picture

An MMT Fiscal Responsibility Narrative: Some Truths After Crowd Sourcing Revision

Many MMT posts and other writings on fiscal responsibility, including my own, focus on the myths of neoliberalism, pointing out why they are myths and developing an alternative MMT perspective in some detail. Off hand, and I may have forgotten something, I couldn't think of a brief positive MMT narrative related to fiscal responsibility containing primarily the truths, rather than the myths. Read more about An MMT Fiscal Responsibility Narrative: Some Truths After Crowd Sourcing Revision

letsgetitdone's picture

An MMT Fiscal Responsibility Narrative: Some Truths

Many MMT posts and other writings on fiscal responsibility, including my own, focus on the myths of neoliberalism, pointing out why they are myths and developing an alternative MMT perspective in some detail. Off hand, and I may have forgotten something, I couldn't think of a brief positive MMT narrative containing primarily the truths, rather than the myths. So, here's my version. Comments, criticisms, recasting in more effective form, are all welcome.

-- The US Government can't involuntarily run out of fiat money because it has the constitutional authority to create it without limit. Congress constrains and regulates this ability; but its existence is still a stubborn fact! Read more about An MMT Fiscal Responsibility Narrative: Some Truths

tarheel-leftist85's picture

Parasitism and Pooling

[I'm leaving this sticky because I've been struggling for months with a massive theory of everything on the market state, and this discussion is useful to me. So feel free to stretch out with theories in comments! --lambert]

[I'm stickying this because the thread this comment came from was terrific, and because the writer is combining a lot of ideas in a very concise way -- and his grandma bought in! Hard to argue with that... Also, I like Theories of Everything, which this post is. --lambert] Read more about Parasitism and Pooling

Thoughts on Neoconservatism and Neoliberalism

I got to thinking today about how neocon and neoliberal are becoming interchangeable terms. They did not start out that way. My understanding is they are ways of rationalizing breaks with traditional conservatism and liberalism. Standard conservatism was fairly isolationist. Conservatism's embrace of the Cold War put it at odds with this tendency. This was partially resolved by accepting the Cold War as a military necessity despite its international commitments but limiting civilian programs like foreign aid outside this context and rejecting the concept of nation building altogether. Read more about Thoughts on Neoconservatism and Neoliberalism

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