tag:blogger.com,1999:blog-1527766217650773141.post1325610270965664864..comments2023-07-12T06:12:30.772-07:00Comments on Demand Side Transcript: Transcript: 493 Greece, Austerity, DefeatAlanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1527766217650773141.post-78448169114598476272012-02-20T17:13:43.412-08:002012-02-20T17:13:43.412-08:00How can you evaluate the evidence when economists ...How can you evaluate the evidence when economists can't measure income growth with any accuracy? There's a way to measure the impact of product innovation and improvement. First, you must see what is wrong with standard neoclassical consumer theory. This video shows how to get indifference curves to do everything that they're not supposed to do. Just ask what are quality and convenience. Done by a former PhD econ student http://www.youtube.com/watch?v=2c4mvGekYZYMrIlirhttps://www.blogger.com/profile/11613313452071283534noreply@blogger.comtag:blogger.com,1999:blog-1527766217650773141.post-46915194340689368752012-02-17T20:11:54.594-08:002012-02-17T20:11:54.594-08:00What's fascinating is that neoliberalism is th...What's fascinating is that neoliberalism is the economics that dare not speak its name. It's practitioners try to call themselves Austrians or supply siders or praxeologists or freshwater economists or Hayekians or...<br /><br />Invisible Backhand<br />http://www.reddit.com/r/CafeHayek/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1527766217650773141.post-62122442244425077922012-02-14T11:15:33.979-08:002012-02-14T11:15:33.979-08:00When a report has 51 pages of micromanagement I wo...When a report has 51 pages of micromanagement I wonder who has had a hand in writing it? The problem as I see it is that forced sales are basically asset stripping. Which might not be so bad but the assets could simply disappear offshore or all the rewards offshore. You only have to see how the UK governments sale and leaseback turned out. The government hoped that it would at least tax the rents to reduce the effective cost but the ownership of these properties were quickly transferred offshore and they are now sending their rents to tax taverns. This will be the case with Greece. So I can understand why they are having problems selling them. Also fire sales are a vultures paradise and do little for the host. So far all I see is cuts to income. What about rents or mortgages? These will become ever more unaffordable to the Greek populace or will they be encouraged to sell them to overseas landlords who demand even more flesh from the Greeks?<br /><br />I do think that under its current fiscal arrangements Greece should declare all its debts odious and let the CDS markets pay out. After all that is what the bondholders want. Without any debt burden it might actually be able to start afresh even if its banks are decimated. What will be needed in a new Greece will be lending controls and that will reduce the bubble prospects for property, which might not be a bad thing. <br /><br />Remaining within the Euro might actually help Greek businesses and with the exit threat removed the threats to the rest of the periphery will be reduced. The only price is that bank debts are going to have be written off, but that goes against everything that the Washington Consensus stands for.David Lazarusnoreply@blogger.com