Author Topic: Economics Culture  (Read 373 times)

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Offline MH

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Re: Economics Culture
« Reply #45 on: September 05, 2019, 05:35:35 am »
A billion wage-slaves run by their greedy/crooked masters seem to be doing well.

Beats subsistence farming i guess.

Well... they seem to be better to their middle classes than we are.

Offline MH

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Offline MH

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Re: Economics Culture
« Reply #47 on: November 25, 2019, 07:33:29 pm »
Wow.

https://www.piie.com/experts/peterson-perspectives/trade-talks-111-trade-policy-under-trump

https://en.wikipedia.org/wiki/Stephen_Vaughn

Stephen Vaughn talks about US Free Trade.  1 1/2 hours, not for the faint of heart.  He's smart so he almost succeeds at making the American position sound reasonable, but not quite.  This much for sure, the US seems ready to blow up world trade.

The thing I can't get my head around is actually sounds RIGHT about trade policy.  In the 1990s they effectively took trade policy out of the realm of electoral politics.  And the reasons kind of seem sound.  But also not.

1) People can't be expected to understand trade policy and will knee-jerk to protectionism every time.  So why trust them with voting on it ?
2) On the other hand, it's their policy.  They will never accept globalism if it's foisted on them.

The hosts do a good job of pointing out that for 2) there won't be any turnaround for the workers even if they reject globalism.

Offline MH

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Re: Economics Culture
« Reply #48 on: Today at 08:38:05 am »
Robert Skidelsky's Money and Government: The Past and Future of Economics - Reviewed.

https://www.nybooks.com/articles/2019/12/05/against-economics/

The thesis seems to be that there exists a magic wand that can create money when waved.  If you can read this meaty review and comment intelligently please do.
I will only say that I find the thesis curious, and wonder if we're already there.  But then again, with all the mentions of QE and 2008 the article doesn't mention the European crises, ie. Greece etc.