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12256 [lbo-talk] more Minsky -- rank: 1000

On Aug 26, 2007, at 1:08 PM, Ted Winslow quoted Karl Marx: > "Under conditions of advanced bourgeois production, when the > commodity-owner has long since become a capitalist, knows his Adam > Smith and smiles superciliously at the superstition that only gold > and silver constitute money or that money is after all the absolute > commodity as distinct from other commodities -- money then suddenly > appears not as the medium of circulation but once more as the only > ade ...

Document Size:	6645
Author:	Doug Henwood
Date:	Sun Aug 26 20:15:03 PDT 2007

12257 [lbo-talk] Minsky moments -- rank: 1000

On Aug 25, 2007, at 11:08 PM, Mike Beggs wrote: > Steve Keen (an Australian economist who's very in to > Minsky) tells me Minsky knew his Marx well but deliberately > censored him > from his work because of the anticommunism of the 1950s when Minsky's > career was getting underway. Minsky was friendly with one of the anticommunist goons - Jay Lovestone maybe? I think he did some work along those lines in Europe after the war. > As I've argued before I think this popular versi ...

Document Size:	5547
Author:	Doug Henwood
Date:	Sun Aug 26 20:08:25 PDT 2007

12258 [lbo-talk] From the horse's mouth... -- rank: 1000

On Aug 25, 2007, at 9:16 PM, Ian Rogers wrote: > I have a request for others reading detailed accounts on the sub- > prime mess. I am looking for a good account of the job losses in the > US, right through the mortgage value chain. Be sure to balance those against the job gains! About 40-50% of the total from 2002-2005 came from housing. I'll post Challenger's counts as they come out. Doug

Document Size:	5006
Author:	Doug Henwood
Date:	Sun Aug 26 20:04:01 PDT 2007

12259 [lbo-talk] WSJ discovers Minsky -- rank: 1000

On Aug 26, 2007, at 1:42 AM, bhandari at berkeley.edu wrote: > However good his dance steps, can't possibly see how Minsky's > theory can be > understood as Marxist. No real impediments in the real sector of the > economy? No wonder Meyer and others can enthuse about his theory. > Doug, > you don't agree with that yourself, given your insistence that the Fed > responds to a real tightness in the labor market, though Fed action > does > not seem as mechanical as that ei ...

Document Size:	6315
Author:	Doug Henwood
Date:	Sun Aug 26 19:44:55 PDT 2007

12260 [lbo-talk] Harry Potter, Metritocracy, and Reward -- rank: 1000

On Aug 26, 2007, at 9:01 AM, Carl Remick wrote: > But please don't let me drive you from this list. That's my job. And I don't want to drive anyone from the list. I've been out all day and missed the insult flinging. One or two iterations is ok, but enough. Doug

Document Size:	5001
Author:	Doug Henwood
Date:	Sun Aug 26 19:22:17 PDT 2007

12261 [lbo-talk] Shiller on the psychology of a boom -- rank: 1000

New York Times - August 26, 2007 A Psychology Lesson From the Markets By Robert J. Shiller IT is no surprise that the Federal Reserve s discount rate cut has not entirely reassured investors. The Fed can stop a run on the banks, but it cannot control the speculative cycle a cycle built on psychology and misperceptions that has been sweeping much of the world for the last 10 or 12 years. I have worked with Karl E. Case, a professor of economics at Wellesley College, with help from the Yale ...

Document Size:	10663
Author:	Doug Henwood
Date:	Sun Aug 26 19:07:53 PDT 2007

12262 [lbo-talk] CounterPunch 8/25/07: "The Great Financial Crisis: Who's got a turd in his briefcase" by James Petras -- rank: 1000

On Aug 25, 2007, at 11:44 PM, Rick Kisséll quoted Counterpunch: > Goldman Sach > Deutsch Bank Don't they even read stuff before posting it? Doug

Document Size:	5427
Author:	Doug Henwood
Date:	Sun Aug 26 07:26:47 PDT 2007

12263 [lbo-talk] Salon 2.0 -- rank: 1000

On Aug 25, 2007, at 3:12 PM, Carrol Cox wrote: > And isn't it more fun to praise _As I Lay Dying_ than to proclaim its > inferiority to War and Peace. I would agree with this, but it's really fun flaming a book that sucks. Doug

Document Size:	4625
Author:	Doug Henwood
Date:	Sat Aug 25 20:29:02 PDT 2007

12264 [lbo-talk] WSJ discovers Hyman Minsky -- rank: 1000

On Aug 25, 2007, at 2:34 PM, Michael Perelman wrote: > I brought him to Chico in the early 80s -- even before Doug Henwood > came. Minsky > was a wonderful economist -- almost an oxymoron. He was not a > radical, more of a > left Keynesian, at best, but his work was important. I sat next to him at the gala opening of the Levy Institute's new house at Bard back in 1989 or 1990. They'd hired a train up from New York with a fancy breakfast and everything. And drinks on the way b ...

Document Size:	5232
Author:	Doug Henwood
Date:	Sat Aug 25 20:26:54 PDT 2007

12265 [lbo-talk] The sources of suffering (Grow up!) ( Was Re: HarryPotter, Metritocracy, and Reward) -- rank: 1000

On Aug 25, 2007, at 1:58 PM, Carrol Cox wrote: > That's my prediction: that national and world literature will > disappear > and poets, composers, painters will produce only or mostly for > those in > their own communities. Not to sound like a vulgar Marxist or anything, but this is going to happen in a world of instantaneous and near-costless communication? The whole underlying point of the passage in the Manifesto about a world literature is that capitalism had created a worl ...

Document Size:	5724
Author:	Doug Henwood
Date:	Sat Aug 25 11:15:01 PDT 2007

12266 [lbo-talk] WSJ discovers Hyman Minsky -- rank: 1000

[Minsky's "Financial Instability Hypothesis" is at <http:// www.levy.org/pubs/wp74.pdf>. His son works at KPFK in LA. The article doesn't mention that Minsky's parents met at a dance in honor of Karl Marx's birthday. While all the Wall Street bozos are bragging about having written about Minsky in 1998, I wrote about him in 1991! There's a lot on Minsky in Wall Street <http:// www.wallstreetthebook.com>.] Wall Street Journal - August 18, 2007 In Time of Tumult, Obscure ...

Document Size:	11939
Author:	Doug Henwood
Date:	Sat Aug 25 10:57:06 PDT 2007

12267 [lbo-talk] virtue terrorists -- rank: 1000

On Aug 25, 2007, at 12:11 AM, Robert Wrubel wrote: > We've been here before, too. Reason is a pretty weak weapon > against fear-based emotion. > > "The best lack all conviction/ > The worst are full of passionate intensity" As I've pointed out before, Harold Bloom says that that passage was an expression of Yeats's fascist sympathies. Doug

Document Size:	4895
Author:	Doug Henwood
Date:	Sat Aug 25 10:47:34 PDT 2007

12268 [lbo-talk] Salon 2.0 -- rank: 1000

On Aug 25, 2007, at 11:00 AM, Jeffrey Fisher wrote: > even the E, which sits still at the very > beginning of this set of threads, recently stopped charging for > much of > their online content: > > === > Published: August 13, 2007 > > NEW YORK (AdAge.com) -- The experiment in paid content is over. No > sale. Which means that web content will now be more advertising-dependent than print. Yay. Doug

Document Size:	4916
Author:	Doug Henwood
Date:	Sat Aug 25 10:22:20 PDT 2007

12269 [lbo-talk] Big One postponed -- rank: 1000

Breaking News Bulletin: U.S. stocks rally Friday; Dow, S&P gain 2.3% on week, Nasdaq 2.8% <http://marketwatch.com/r.asp?g=AD511346BF1F41018DB49B504D246FC7&d=bnb>

Document Size:	4735
Author:	Doug Henwood
Date:	Fri Aug 24 13:21:12 PDT 2007

12270 [lbo-talk] Paley obit -- rank: 1000

["I don't argue when there's real disagreement...."] New York Times - August 24, 2007 Grace Paley, Writer and Activist, Dies at 84 By MARGALIT FOX Grace Paley, the celebrated writer and social activist whose short stories explored in precise, pungent and tragicomic style the struggles of ordinary women muddling through everyday lives, died on Wednesday at her home in Thetford Hill, Vt. She was 84 and also had an apartment in Manhattan. Ms. Paley had been ill with breast cancer for ...

Document Size:	14212
Author:	Doug Henwood
Date:	Fri Aug 24 12:05:10 PDT 2007