[P2P-F] blog commentary on dean baker's loser liberalism bk

Wed Sep 7 13:27:44 CEST 2011

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  
<michel at p2pfoundation.net> wrote:

> thanks, do you have a link to the baker critique you mention below?
>
> Michel
>
> On Wed, Sep 7, 2011 at 4:59 PM, <ideasinc at ee.net> 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
>> <michel at p2pfoundation.net> 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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>
>