tag:blogger.com,1999:blog-15277662176507731412024-02-06T23:46:21.075-08:00Demand Side TranscriptAlanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.comBlogger898125tag:blogger.com,1999:blog-1527766217650773141.post-36856114117142992152014-03-19T04:40:00.003-07:002014-03-19T04:40:47.446-07:00Today on the podcast, a testThings are popping at my new gig as director of IDEAeconomics. Check it out at IDEAeconomics.org. Get on the mailing list for the e-mail explanations coming out over the next week by giving me your e-mail address at demandside@live.com. The mission at IDEAeconomics is to reform economics, to rescue the society from bad economics.
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We don't do it without you. There is no Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-90120603634206359682014-02-28T15:18:00.006-08:002014-02-28T15:18:52.472-08:00Link: Demand Side Identity Crisis, Plus Charles Plosser confusion
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Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-41087838677779824712014-02-19T05:23:00.003-08:002014-02-19T05:23:31.060-08:00Relay: Another banking crisis ahead in Europe, Admati and (Carl) Weinberg back to back
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Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-46257415648310865472014-02-12T05:25:00.000-08:002014-02-19T05:25:56.699-08:00Relay: David Simon with Bill Moyers
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Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-30366393137849883982014-02-06T18:15:00.001-08:002014-02-06T18:15:10.687-08:00Larry Summers RehabilitatedAs an economist, Summers is a good politician. Taking responsibility in a very roundabout way. The guy was aggressive and caustic in his enforcement of deregulation. Mr. "Timely, Targeted, Temporary" (also "ineffective) when it came to the 2008 Bush tax cut stimulus. Led the cause for the lower public works stimulus amount under Obama,.. so badly designed. Now federal spending is discredited as Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com1tag:blogger.com,1999:blog-1527766217650773141.post-67664129889885815252014-01-30T23:29:00.001-08:002014-01-30T23:38:17.028-08:00Secular StagnationToday on the podcast, good news and bad news.
Good news is, a group of econophiles in Seattle and the Northwest has incorporated the nonprofit Institute for Dynamic Economic Analysis. The mission is nothing less than the comprehensive reform of economics. Our chief economist is Steve Keen, whose books and lectures and videos demonstrate his fitness for the task. Our executive director is your Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com1tag:blogger.com,1999:blog-1527766217650773141.post-69776368397123072342014-01-24T00:14:00.001-08:002014-01-24T00:39:31.581-08:00Transcript: Inequality, Poverty and Wealth: Galbraith, Gates, Bloomberg, Rogoff, Roubini, BremerREMEMBER, IF YOU ARE GETTING THE LEGACY FEED, THE BANDWIDTH CAN RUN OUT. SUBSCRIBE TO THE UNLIMITED FEED, BROWN ICON, FOR UNINTERRUPTED GLOOM.
JAMES K. GALBRAITH, FIRST PARAGRAPHS OF CHAPTER ONE OF INEQUALITY AND INSTABILITY,
That is the best we've heard. The book is highly technical but highly useful as well. Inequality and Instability, A Study of the World Economy Just Before the Crisis, by Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-38736969029097727292014-01-23T20:16:00.001-08:002014-01-23T20:16:36.929-08:00The Most Coherent Review of the Podcast to Date -- from Dan Lett at Liquid LunchReview: Demand Side Economics (podcast)
One positive effect of the 2008 financial collapse is that it has energized popular scrutiny of mainstream economic theory. The average person remains in the dark about credit default swaps and derivatives trading, but they are increasingly aware that economic theory is not the unified science its practitioners often pass it off as. The evidence is Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-10021693920492881722014-01-17T00:57:00.004-08:002014-01-17T00:57:46.439-08:00Transcript: Forecast and VoicesBarry Ritholz, William Dunkelberg, Bill White, William Cohan, P.J. O’Rourke and Bill Gross. The real heavyweight here is Bill White, formerly of the Bank of International Settlements and now the OECD. We featured White and his, well, white paper on the financial cycle last spring. There he was among the first economists, if not the first, with any significant position in an international Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-36339319266885710432014-01-10T00:44:00.000-08:002014-01-10T00:44:08.804-08:00Transcript: New Year's Report: Economic Events Widely Reported that Never Really HappenedThe folks that are in the top 20% of the income distributions, in the population, they account for 60% of the spending. The top 5% account for 35% of the spending. You know, that's just not healthy, you know, longer run. I do think our most significant long-term problem is the distribution of income and wealth.
That was Mark Zandi -- Conservative with open eyes. Adviser to John McCain's Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-66791537134020162652013-12-31T23:21:00.002-08:002013-12-31T23:21:43.902-08:00Transcript: Pope Francis v. Capitalism
... today we also have to say “thou shalt not” to an economy of exclusion and inequality. Such an economy kills. How can it be that it is not a news item when an elderly homeless person dies of exposure, but it is news when the stock market loses two points?
As sometimes happens when we have too much time, we get distracted. Or should I say involved in interesting reading. The same Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-74829930715606671402013-12-24T22:45:00.000-08:002013-12-24T22:45:04.070-08:00Transcript: Richard Parker on Greece, Europe, Americanization of the Globe, and Left of Center PoliticsRemarks from Richard Parker, fellow Kennedy School of Government, Harvard
advisor to George Papandreou 2009-2011
Remarks Delivered November 4, 2013, LBJ School of Public Affairs
Conference: Can the Eurozone Be Saved
Panel: "Alternatives for Greece"
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Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-32869081441623479922013-12-24T22:27:00.003-08:002013-12-24T22:27:42.569-08:00Transcript: The Eurozone is FragmentingEurope is fragmenting. It is breaking apart along social and national lines, that is, by class and by country. It is not in the news because the bad markets are stabilized for the time being, and as with our own country, the illusion of peace is produced by happy financial markets. But also as in the US, the price of this peace is the impoverishment of millions. Decades of work have evaporated Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-68107339927395270272013-12-19T23:42:00.003-08:002013-12-19T23:42:45.359-08:00Transcript: Here, Janet, You Take It: Bernanke bails out with QE blunder still runningToday, QE, tapering, how the Fed spent trillions betting a blind alley was the road to recovery... with audio from hizzoner Ben Bernanke, from David Rosenberg, and from Steve Keen.
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ROSENBERG
David Rosenberg.
These comments are obviously from before the Fed's announcement that it would be cutting back its purchases all the way from $1 trillion to $900 billion annualized.Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-56952699092037864882013-12-13T01:14:00.000-08:002013-12-13T01:14:43.119-08:00Transcript: Unemployment and the Reserve Army of the UnemployedLast week was Investment.
Investment is the key to employment. This is mainline Keynes.
Government deficits for employment purposes have been promoted by some on the Left, including Keynes, but in a society with failing infrastructure, failing schools, decrepit health care, and a climate crisis looming, employment is the way to the end, not the end in itself. Healthy employment would return Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-55280330362147799542013-12-06T02:43:00.002-08:002013-12-06T02:43:39.854-08:00Transcript: There is plenty of investment ready in infrastructure
Howard Davidowitz, retailing analyst.
But today's podcast is on investment.
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Here is the conventional thought.
BOSTJANCIC
No, Kathleen, Investment does drive jobs. Just like Tom's textbook says. Yes, corporations have taken their tax breaks and turned them into robots, but investment is missing in the corporate sector, moribund in the residential sector, and negative in Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-77474234409262316102013-11-28T15:36:00.004-08:002013-11-28T15:36:53.808-08:00Relay: Jonathan Weil with Arthur LevittToday a relay: Jonathan Weil as interviewed by Arthur Levitt. We're short of time this week, and possibly the next few, and we worry we're repeating ourselves, so today a break for both us us with a look inside the recovery air quotes on Wall Street.
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Stock prices hit new highs, and to hear the sell side, it is due to ever better economic prospects. Lean and mean Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-44041267618855211742013-11-23T00:43:00.000-08:002013-11-23T00:43:27.784-08:00Transcript: Inflation and Corruption
Today on the podcast, Inflation and Corruption
Here is the conventional conversation from Boomberg:
IRVING
That's William Irving of Fidelity Investments, with Bloomberg's Tom Keen and Michael McKee.
No, Inflation is not the problem. Inflation is rarely the problem. It can be the symptom of a problem, however, and this one is serious. Low inflation is a symptom of stagnation, decline and Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-26682854608597063032013-11-15T12:16:00.005-08:002013-11-15T12:16:47.321-08:00Transcript: Political Economy, Plutonomics, Health CareAt one time in the distant past, economics and political science were a combined discipline called political economy. Employment, business, money, political power and relationships were studied together. Part of the irrelevance of modern orthodox economics has to do with its being split off into a separate discipline studying an aspect of social life as if it were a free-standing natural force.
Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-42822630850875792032013-11-07T23:59:00.001-08:002013-11-07T23:59:55.978-08:00Housing Recovery: The elephant has given birth to the mouseHousing, like the rest of the economy: Our forecast - bouncing along the bottom with downside risks.
We have seen the Fed and others point to the housing market as the linchpin of a recovery. It is true that housing has led recoveries in the past. But blaming housing is like blaming the slow flow of water as the obstacle to irrigation downriver. It may be true, but it is not the cause. It is theAlanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-19112440206603645382013-10-31T22:49:00.004-07:002013-10-31T22:49:19.522-07:00Transcript: Alan Greenspan and why it was not my fault, plus Martin Wolf
GREENSPAN
Heaven forbid that Robert Shiller, Nouriel Roubini, Steve Keen, Dean Baker and others should be thought of as worthy of note. To be worthy, of course, you had to adhere to the economics that was wrong. Heaven forbid we should ask those who got it right what they saw. A detective story? How will Alan Greenspan resurrect his career.
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John Maynard Keynes knew Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-41132335979895367282013-10-25T22:51:00.003-07:002013-10-25T22:51:19.424-07:00Transcript: Technology and Growth, the Business Cycle, Minsky and KeynesToday on the podcast, whither the business cycle? Whither growth? Can part of the strength in the stock market be explained by rich people having to spend their money somewhere? And the best part, some Hyman Minsky on John Maynard Keynes.
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We are not at all amused that technology is the mainstream explanation for growth. To call it a canard is perhaps too harsh, but Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-62645454397259548652013-10-17T23:03:00.006-07:002013-10-17T23:03:57.921-07:00Transcript: Riksbank Prize, Minsky, KeenThe Nobel Prize was awarded this week.
I had no problem with Robert Shiller. He could see the bubble. Heck, he predicted the dot.com bust. And pointed out the housing bubble years in advance. As important to me, he provided the apt metaphor for the economy, or at least seconded my preference. Metaphors are essential. People understand complex issues by use of the metaphor. Once a metaphor is Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com1tag:blogger.com,1999:blog-1527766217650773141.post-58241919961556527202013-10-10T02:18:00.000-07:002013-10-10T02:18:04.873-07:00Transcript: Debt Ceiling Options and Demand Side ReduxThis is the 600th episode of the Demand Side Podcast. To mark the occasion we will remember the Demand Side view and if we have time, we'll relay a piece on the personality disorders of the rich. But first, to fill in your understanding of this debt ceiling debacle coming up, and the President's legal options, some material from the Columbia Law Review. This was pursuant to the last debt ceiling Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0tag:blogger.com,1999:blog-1527766217650773141.post-17214251213040603542013-09-27T01:02:00.002-07:002013-09-27T01:02:54.028-07:00Economists warn on Europe, plus Tyler Cowen and the end of common senseToday, a letter in the Financial Times, a warning from economists, and Tyler Cowen's new book.
Listen to this episodeThe economists’ warning
Financial Times, September 23 2013
The European crisis continues to destroy jobs. By the end of 2013 there will be 19 million unemployed in the eurozone alone, over 7 million more than in 2008, an increase unprecedented since the end of World War II and one Alanhttp://www.blogger.com/profile/07323700324276425194noreply@blogger.com0