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thinkahol *

Yes, There Are Ways to Reduce Unemployment and Revive the Economy | Op-Eds & Columns - 0 views

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    As President Obama begins the second half of his term with a campaign for "jobs and competitiveness," we would do well to consider how he might achieve these worthy goals. It is jobs that matter most to the vast majority of Americans, and unemployment remains at 9.4 percent - about double its pre-recession level. This is a terrible punishment to inflict on millions of Americans who did nothing to deserve it. It will cause long-term and even permanent damage to many of the unemployed and their children.
thinkahol *

Open proposal to US higher education: end oligarchy economics, save trillions with educ... - 0 views

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    Economics: I'm going to discuss trillions of dollars in a moment. As an economics teacher, I understand numbers this large are extremely difficult to imagine. If you are among the majority with this difficulty, I recommend that you follow the expert testimony that paints the picture, and know that success in this area of public education transformation that unleashes trillions of our dollars for human creative capacity in unimaginable power is sufficient to end the current economic crisis. This is the longest section of my briefing. If you tire in reading, please consider that at trillions of dollars of annual public benefits, you literally have nothing more valuable to do than understand the following facts and ideas. Harvard's Linda Bilmes co-authored a paper with Nobel Prize winner Joseph Stiglitz estimating the long-term costs of current US wars at now $3 to $5 trillion ($30-$50,000 per US household of $50,000/year income), with total debt increase since 2001 of over $10 trillion. Remember, as demonstrated by the evidence disclosed by our own government, all the reasons Americans were told to go to war were known to be lies as they were told and applicable law proves these wars Orwellian unlawful. Just down the Charles River from Harvard, MIT's Simon Johnson (and former Chief Economist of the International Monetary Fund) describes our economy being lead by gambling oligarchs who have captured government as in banana republics (his words), and might plunge the US into an economy worse than the Great Depression. From his article under the telling title, The Quiet Coup: "Elite business interests-financiers, in the case of the U.S.-played a central role in creating the crisis, making ever-larger gambles, with the implicit backing of the government, until the inevitable collapse. More alarming, they are now using their influence to prevent precisely the sorts of reforms that are needed, and fast, to pull the economy out of its nosedive. The govern
thinkahol *

Tax Cuts Caused The Deficits, Therefore... | OurFuture.org - 0 views

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    No serious person denies that Reagan's 1981 tax cuts and military increases threw the country into a pattern of borrowing and borrowing that we have not escaped. When Reagan took office the national debt was $995 billion. When Reagan left office it was $2.87 trillion and climbing fast. No serious person denies that Bush's 2001 tax cuts and continued military increases dramatically worsened the problem. Bush's last budget year ended with a record single-year deficit of $1.4 trillion. As the country discusses what to do about the borrowing the elephant in the room is that everyone understands that restoring top tax rates to pre-Reagan levels and cutting the military budget in half would solve the problem completely. But we can't do that. We can't even discuss it. And we all know why. And we all know why. It is because the Reagan Revolution transformed the country from a democracy to a plutocracy -- a country run by and for the wealthy. Such sensible and simple ideas are considered off-limits. To even bring up the idea of restoring tax rates to pre-Reagan levels and cutting military spending invites terrible consequences. The speaker risks becoming the target of the money's noise machine: Limbaugh, Hannity, Drudge, Fox. Smears. Humiliation. Banishment. Or the noise machine cranks up a campaign of misinformation, convincing people --especially DC people -- that what they see in front of their eyes just isn't so. Repeat it enough and it becomes solid knowledge. We all know this is the way it is. So don't tell me that "we don't have the money" to keep 300,000 teachers from being laid off, or to help the long-term, mostly older unemployed workers get something to live on and keep their health care. The money is right there in front of us, but the Congress is bought and paid for. What do we do? We have to demand representatives who represent us, not make excuses for representing the wealthy. The unfortunate, poor and disadvantaged must count every bit as much as the
thinkahol *

FT.com / Comment / Opinion - It is folly to place all our trust in the Fed - 0 views

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    I n certain circles, it has become fashionable to argue that monetary policy is a superior instrument to fiscal policy - more predictable, faster, without the adverse long-term consequences brought on by greater indebtedness. Indeed, some advocates wax so enthusiastic that they support recent drives for austerity in many European countries, arguing that if there are untoward effects they can be undone by monetary policy. Whatever the merits of this position in general, it is nonsense in current economic circumstances.
thinkahol *

What Conservatives Really Want - 0 views

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    'Deficits can be addressed by raising revenue, plugging tax loopholes, putting people to work, and developing the economy long-term in all the ways the President has discussed. But deficits are not what really matters to conservatives. Conservatives really want to change the basis of American life, 
thinkahol *

The Unwisdom of Elites - NYTimes.com - 0 views

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    The past three years have been a disaster for most Western economies. The United States has mass long-term unemployment for the first time since the 1930s. Meanwhile, Europe's single currency is coming apart at the seams. How did it all go so wrong?
thinkahol *

Economic Scene; If taxes were lower, the economy would grow faster, right? Economists s... - 0 views

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    AS Election Day approaches, serious discussion about economic policies is hamstrung by the devotion of both parties to reducing taxes. The big reason, of course, is that President Bush emphasizes tax cuts, including elimination of the estate tax, to the exclusion of almost everything else. The Democrats, in turn, hesitate to propose an economic plan that does not include long-term reductions for middle-income workers, and most refuse to talk about rescinding the Bush tax cuts for the wealthy. But the degree of misleading information emanating from both Washington and the media about how taxes affect the economy is disturbing. As I listen to the radio, watch TV news and read a variety of newspapers, it seems that quite a few Americans, including economics writers and media hosts, think that low-tax countries unquestionably grow faster than high-tax economies. Right and left, they seem to attribute more rapid growth in America to lower taxes. What may surprise them is that there is no evidence for that. ''You can make a theoretical case that high taxes impede economic growth, but it is just not supported by the evidence in the U.S. or across countries,'' said William Easterly, a former World Bank economist soon to join the faculty of New York University.
thinkahol *

Ed Rendell and Scott Smith: Transportation Spending Is the Right Stimulus - WSJ.com - 0 views

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    During this time of economic uncertainty and record federal deficits, many question why America should invest aggressively in infrastructure. The answer is simple: Whether it involves highways, railways, ports, aviation or any other sector, infrastructure is an economic driver that is essential for the long-term creation of quality American jobs.
thinkahol *

Elinor Ostrom - Wikipedia, the free encyclopedia - 0 views

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    Ostrom is considered one of the leading scholars in the study of common pool resources (CPR). In particular, Ostrom's work emphasizes how humans interact with ecosystems to maintain long-term sustainable resource yields. Common pool resources include many forests, fisheries, oil fields, grazing lands, and irrigation systems. She conducted her field studies on the management of pasture by locals in Africa and irrigation systems management in villages of western Nepal (e.g.Dang). Ostrom's work has considered how societies have developed diverse institutional arrangements for managing natural resources and avoiding ecosystem collapse in many cases, even though some arrangements have failed to prevent resource exhaustion. Her current work emphasizes the multifaceted nature of human-ecosystem interaction and argues against any singular "panacea" for individual social-ecological system problems.
thinkahol *

Robert Reich (Why We Must Raise Taxes on the Rich) - 0 views

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    It's tax time. It's also a time when right-wing Republicans are setting the agenda for massive spending cuts that will hurt most Americans. Here's the truth: The only way America can reduce the long-term budget deficit, maintain vital services, protect Social Security and Medicare, invest more in education and infrastructure, and not raise taxes on the working middle class is by raising taxes on the super rich.
thinkahol *

New Left Review - David Graeber: The New Anarchists - 0 views

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    It's hard to think of another time when there has been such a gulf between intellectuals and activists; between theorists of revolution and its practitioners. Writers who for years have been publishing essays that sound like position papers for vast social movements that do not in fact exist seem seized with confusion or worse, dismissive contempt, now that real ones are everywhere emerging. It's particularly scandalous in the case of what's still, for no particularly good reason, referred to as the 'anti-globalization' movement, one that has in a mere two or three years managed to transform completely the sense of historical possibilities for millions across the planet. This may be the result of sheer ignorance, or of relying on what might be gleaned from such overtly hostile sources as the New York Times; then again, most of what's written even in progressive outlets seems largely to miss the point-or at least, rarely focuses on what participants in the movement really think is most important about it. As an anthropologist and active participant-particularly in the more radical, direct-action end of the movement-I may be able to clear up some common points of misunderstanding; but the news may not be gratefully received. Much of the hesitation, I suspect, lies in the reluctance of those who have long fancied themselves radicals of some sort to come to terms with the fact that they are really liberals: interested in expanding individual freedoms and pursuing social justice, but not in ways that would seriously challenge the existence of reigning institutions like capital or state. And even many of those who would like to see revolutionary change might not feel entirely happy about having to accept that most of the creative energy for radical politics is now coming from anarchism-a tradition that they have hitherto mostly dismissed-and that taking this movement seriously will necessarily also mean a respectful engagement with it. I am writing
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