Michael, this is the link to Bill Mitchell's Billy Blog site and the first segment of 7 in total. http://bilbo.economicoutlook.net/blog/?p=6122 Mitchell is one of the top authorities on modern monetary economics which is the discourse which has applied what was learned from legitimate interpretations of Keynes and of the demand side economics of the WPA, CCC, and NYA as progressive (U.S.) responses to the 20th century Great Depression. Mitchell covers a list of "progressive" nominal economists/establishments in the successive entries. L. Randall Wray of the Univ. of Missouri Kansas City Econ. Dept has made similar statements which would take me a bit longer to produce. The core difference is between the economic assumptions being applied. The New Economic Perspectives from Kansas City blog has a treasure trove of resources both in the current primer review and of other stand alone materials. It may require a bit of translation. Mitchell is at the top of his class in terms of modern monetary economics and as a perspective it has been one of the few opposing perspectives relative the well funded deficit terrorism campaigns. Some of the material may seem counter-intuitive, and it is based upon in part how central banking actually operates currently, only how those principles can serve a more public and more social agenda. The counter-intuitive part derives from the neo-classical framing which has dominated the field for decades if not longer. Ie, by its familiarity, the neo-classical framing seems correct when it is not actually, and serves to contain genuine progressive initiatives within a neo-classical box of assumptions. On a related topic, what is known as Jevons's Paradox is often applied within ecological and environmental circles to "prove" the futility of progressive energy measures and energy efficient technology, ends up being paradoxical only within the neo-classical set of assumptions. as we go, Tadit On Wed, 07 Sep 2011 06:49:51 -0400, Michel Bauwens <[email protected]> wrote:
thanks, do you have a link to the baker critique you mention below?
Michel
On Wed, Sep 7, 2011 at 4:59 PM, <[email protected]> wrote:
Y'all, Baker tends to have a reputation of being strong on the rhetoric but very weak on the actual economics side of his material. It has been demonstrated that his economic assumptions are neo-liberal in their substance. Though this might be an interesting foray at one level, if done in a less than serious fashion it is likely to promote economic illiteracy. This may seem harsh, and buying into the neo-liberal/neo-classical framing of our situation cuts off even imagining informed fiscal options. I come from primarily a post-Keynesian macro-economics and functional finance perspective, and this sits well with my 20 plus years of being active in community centered economic activism, from entrepreneurship development, to being treasurer of two different cooperatives, to being downstream of fraud perpetrated under a false flag of left "progressiv-ism," and other investments regarding. Just finished a series of essays by Bill Mitchell which included a critique of Dean Baker's economics, entitled "With Friends, Like These..."
Tadit Anderson, Re-Imagining Economics
On Wed, 07 Sep 2011 01:50:04 -0400, Michel Bauwens <[email protected]> wrote:
http://deanbaker.net/images/stories/documents/End-of-Loser-Liberalism.pdf
Hi Kevin, perhaps you'd find chapter 10 interesting, and even chapter
11,
commentary always appreciated if you have time,
Michel
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