Rodrik is an advocate, as are seemingly all liberals now, for more wage and wealth convergence globally.
He also wants more GDP convergence, sadly enough, a double whammy now for the West.
"Globalization And The Great Divergence" p 137.
He refers to this point by discussing what he calls divergence, by which he means GDP divergence, not average or median wage or individual wealth divergence, among countries.
He also wants more average or median wage and individual wealth convergence (Piketty's use of the term in context), as well as more convergent GDPs.
Now think about the question he asks his students on the first day of class.
How about this other question, for all his globalist liberal or globalist conservative students:
Whether you want to be an average person in a rich country versus an average person in a poor country?
With global individual and wealth convergence, the difference dissipates, over time.
BOOMERBUSTER
OLD CELLO
Saturday, May 30, 2015
RE WEALTH AND INCOME CONVERGENCE
One of my favorite passages is Rodrik's question, the first day of class, at Harvard, to his (really really smart Harvard) economics majors, and their answers.
RODRIK RE GRAND STRATEGY
Although his book is not taking this kind of position, his book is nevertheless wonderful, economic, tattletale type, support for why my views on imperialism of the West over the Rest should have been the policy of Western civilization nations into the 20th century, rather than the liberal international economic order, civil war of the West wars, and then the globalized Cold War globalization systematically booming the rest, which has now resulted in powerful, Western adversarial, Western-attacker, states, and civilizations, both in Asia, and the Middle East, now confronting a weakened and bewildered West.
What a truly disastrous, multiculturalist, grand strategic policy to have pursued for over a hundred years.
Steingart obviously had similar views, in The War For Wealth, but did not put them into print quite this way.
Western Civilization Mercantilism and Imperialism look bad to many Westerners, until you Westerners see what is coming next.
What a truly disastrous, multiculturalist, grand strategic policy to have pursued for over a hundred years.
Steingart obviously had similar views, in The War For Wealth, but did not put them into print quite this way.
Western Civilization Mercantilism and Imperialism look bad to many Westerners, until you Westerners see what is coming next.
RODRIK
Talks about GDP divergence.
This is a different sense from wealth and income 'divergence' Piketty is usually referring to.
This is a different sense from wealth and income 'divergence' Piketty is usually referring to.
Friday, May 29, 2015
RE ROGER SCRUTON
I could not read his History Of Philosophy.
I cannot put The West And The Rest down.
I cannot put The West And The Rest down.
Wednesday, May 27, 2015
MORE FREE TRADE PLEASE
http://bozonbloggon.blogspot.com/2014/04/economics-krugman-piketty-samuelson.html
DREAMLAND ON POLITICAL ECONOMY INTERNATIONAL RELATIONS
http://sites.dartmouth.edu/wwohlforth/files/2013/04/GilpinianRealism1.pdf
PIKETTY CALLS FOR A RETURN TO POLITICAL ECONOMY
Rodrik is apparently America's answer.
The Globalization Paradox
He is a globalist, and claims only to want a sane globalization, rather than continued hyper globalization.
In other words, he wants more political globalization, just as Piketty does, so that these new super national, right or left thinking global organizations can then grapple effectively with the unsavory divergence, convergence, environmental, and other unpleasant aspects of economic hyper globalization.
One good thing, he is a tattler on other economists.
The Globalization Paradox
He is a globalist, and claims only to want a sane globalization, rather than continued hyper globalization.
In other words, he wants more political globalization, just as Piketty does, so that these new super national, right or left thinking global organizations can then grapple effectively with the unsavory divergence, convergence, environmental, and other unpleasant aspects of economic hyper globalization.
One good thing, he is a tattler on other economists.
Tuesday, May 26, 2015
RE STEINGART CONVERGENCE
He actually comes out favoring global labor cost convergence, p 246.
I doubt whether he thought through what that number might turn out to be, either in the near term or the longer.
I doubt whether he thought through what that number might turn out to be, either in the near term or the longer.
Monday, May 25, 2015
RE HISTORY OF JOURNALISM
I am going to do several posts on this topic, a desperately needed discussion.
RE RANDALL COLLINS FAME ADVENTURERS JOURNALISTS RIDENHOUR MOVIE STARS POLITICIANS KINGS
See his latest post re T E Lawrence.
Not a good project in my judgement, having Lawrence dismembering the Ottoman Empire.
Compare Collins' remarks, re how someone becomes famous, with Kaiser's remarks re Hersh, and about journalists, and others, movie stars, politicians, etc., who become famous, based on the work often of, brave if foolish, individuals, whistleblowers, or fools, and/ or of the regular work of countless others, supporting people such as Lawrence.
He is good at contrasting the facts, such as they are known to him, from the motion picture.
Not a good project in my judgement, having Lawrence dismembering the Ottoman Empire.
Compare Collins' remarks, re how someone becomes famous, with Kaiser's remarks re Hersh, and about journalists, and others, movie stars, politicians, etc., who become famous, based on the work often of, brave if foolish, individuals, whistleblowers, or fools, and/ or of the regular work of countless others, supporting people such as Lawrence.
He is good at contrasting the facts, such as they are known to him, from the motion picture.
CLASSIC CARTOON
http://bozonbloggon.blogspot.com/2010/11/re-cartoon-mise-en-scene-uncle-sam-dog.html
Sunday, May 24, 2015
IT WAS ALWAYS MAINLY ABOUT MAKING MONEY
http://www.history.org/Foundation/journal/spring03/journalism.cfm
Cf DK's post on Hersh,
"...That is the legacy of the new tradition of investigative reporting as an end in itself, not designed to uncover a specific abuse or serve the greater good...." DK
Great stuff.
(Lorch) Newspaper Editor's retort to assembled Scholars:
"Don't you know what the newspaper business is all about, you bloody fool...For the past ten minutes you've been trying to make me out as some kind of hideous ogre devoid of any shred of social consciousness.
"You act as though you think the job of a newspaper is to be an educational institution for the masses.
"Education is your job, not mine.
"I run a business. That business is to make money. My stock in trade is something called 'news'. It isn't really news all the time-- it's entertainment in the guise of news quite often.... I am not going to print educational stuff that'll put me in the poor house."
Terms search Lorch, Drew Pearson, Fallacy, Ridenhour
Cf DK's post on Hersh,
"...That is the legacy of the new tradition of investigative reporting as an end in itself, not designed to uncover a specific abuse or serve the greater good...." DK
Great stuff.
(Lorch) Newspaper Editor's retort to assembled Scholars:
"Don't you know what the newspaper business is all about, you bloody fool...For the past ten minutes you've been trying to make me out as some kind of hideous ogre devoid of any shred of social consciousness.
"You act as though you think the job of a newspaper is to be an educational institution for the masses.
"Education is your job, not mine.
"I run a business. That business is to make money. My stock in trade is something called 'news'. It isn't really news all the time-- it's entertainment in the guise of news quite often.... I am not going to print educational stuff that'll put me in the poor house."
Terms search Lorch, Drew Pearson, Fallacy, Ridenhour
RE GOLD STANDARD
Let's set this matter straight for a moment, here, before forging ahead.
The gold standard is not really, necessarily, a so called
' gold standard '.
The reason for this is that it has always been susceptible, for many centuries, to fractional reserve banking practices, even under a so called gold standard.
Fractional gold reserves are like not having a gold standard in the first place.
The gold standard is not really, necessarily, a so called
' gold standard '.
The reason for this is that it has always been susceptible, for many centuries, to fractional reserve banking practices, even under a so called gold standard.
Fractional gold reserves are like not having a gold standard in the first place.
Saturday, May 23, 2015
RE PIKETTY GILLIGAN AND THE FED
He seems to think that the FED is some kind of a government organization.
He is worried, in passing, that going off the gold standard requires close governmental regulation...........banks can then just print money..........endlessly.......
The 12 member banks are not, however, government banks, they are private corporations.
Andy Jackson, long before the likes of Andy Brigham, repudiated a national bank.
I can cite the Piketty pages if need be. pgs 548, 557
How big do you want your global property rights, a whole lot bigger than your government?
You got your wish.
Remember Thurston's remarks at the AEDP in Boca in 2006, Bonita Springs 2008, I believe. (Not Thurston Howell Romney, Boca in 2012, but similar.....)
"Who do you think they will bail out, you or me?"
We all know what the answer has been.
Some Like It Yacht.
How did they copy that, so quickly, from me?
He is worried, in passing, that going off the gold standard requires close governmental regulation...........banks can then just print money..........endlessly.......
The 12 member banks are not, however, government banks, they are private corporations.
Andy Jackson, long before the likes of Andy Brigham, repudiated a national bank.
I can cite the Piketty pages if need be. pgs 548, 557
How big do you want your global property rights, a whole lot bigger than your government?
You got your wish.
Remember Thurston's remarks at the AEDP in Boca in 2006, Bonita Springs 2008, I believe. (Not Thurston Howell Romney, Boca in 2012, but similar.....)
"Who do you think they will bail out, you or me?"
We all know what the answer has been.
Some Like It Yacht.
How did they copy that, so quickly, from me?
RE CIVIL LIBERTARIAN RELIGIOUS RIGHT PROPERTY RIGHTS
Andrew Brigham is, perhaps, the best archetype of this concatenation of advocacy ideas in American legal religious and political thought.
They are not my ideas, but what he says and does are worth looking at.
They are not my ideas, but what he says and does are worth looking at.
WHAT HUNTINGTON HAD REFERRED TO
more or less, as Davos attendees, in The Clash, and what Faux later called The Party Of Davos, one can call players, of one type or another, in what I call The Globalization Game.
All the rest really, perhaps, are conceived, by some or all of them, more or less, as pawns.
One can really look back to the 60s and 70s to see the handwriting on the wall. Sovereignty At Bay, etc.
All the rest really, perhaps, are conceived, by some or all of them, more or less, as pawns.
One can really look back to the 60s and 70s to see the handwriting on the wall. Sovereignty At Bay, etc.
THE PRESIDENCY CONGRESS AND WEAK FEDERALISM THE PRESIDENTIAL ABERRATION
Structurally, the system has always had major problems leading to drift on any big issues.
The Presidency has been a failed institution because it has devolved, originally by constitutional mandate, to focus on trade and commerce, and on diplomacy. It is not supposed to declare war, but in practice has evolved in the direction of fighting wars not declared.
The Middle East, and Asia, represent the two aspects of the Presidential Aberration, too much war in one, and too much trade in the other.
It has been a bipartisan problem.
The Congress was designed to drift around and never to do very much. It usually accomplishes that.
The Supreme Court was never supposed to do very much, and it normally accomplishes that.
The Presidency was designed to do much the same. Good examples of the trade prong of the Presidential Aberration are Prestowitz' Trading Places, and the article in Foreign Affairs "Trading American Interests".
A quite good example of the Presidential trade prong Aberration is the current Pacific trade deal.
NAFTA and WTO were great examples under Clinton.
The Presidency has been a failed institution because it has devolved, originally by constitutional mandate, to focus on trade and commerce, and on diplomacy. It is not supposed to declare war, but in practice has evolved in the direction of fighting wars not declared.
The Middle East, and Asia, represent the two aspects of the Presidential Aberration, too much war in one, and too much trade in the other.
It has been a bipartisan problem.
The Congress was designed to drift around and never to do very much. It usually accomplishes that.
The Supreme Court was never supposed to do very much, and it normally accomplishes that.
The Presidency was designed to do much the same. Good examples of the trade prong of the Presidential Aberration are Prestowitz' Trading Places, and the article in Foreign Affairs "Trading American Interests".
A quite good example of the Presidential trade prong Aberration is the current Pacific trade deal.
NAFTA and WTO were great examples under Clinton.
Friday, May 22, 2015
THE GLOBALIZATION BALL GAME
The other key reference point for these suggested images is something that appears in Huntington's The Clash, figure 9.1.
Although this image is two dimensional it clearly implies, to me, at least, three or more dimensions, and contending gobbling globes might be ranged around some three dimensional globular representation of figure 9.1, to suggest what I have described so far.
It can suggest both geography, and relative magnitude, and relative civilizational associations and rivalries at once.
I know this a tall order for a graphic, but someone has probably already done it.
It is really, behind the scenes, a game of hard ball, with 'balls to the wall', and 'who's got who by the balls', no doubt, as common, literal and figurative, epithets, for the playing of the game, in the so called real world, not that 'globalization game' described here.
Although this image is two dimensional it clearly implies, to me, at least, three or more dimensions, and contending gobbling globes might be ranged around some three dimensional globular representation of figure 9.1, to suggest what I have described so far.
It can suggest both geography, and relative magnitude, and relative civilizational associations and rivalries at once.
I know this a tall order for a graphic, but someone has probably already done it.
It is really, behind the scenes, a game of hard ball, with 'balls to the wall', and 'who's got who by the balls', no doubt, as common, literal and figurative, epithets, for the playing of the game, in the so called real world, not that 'globalization game' described here.
THE GLOBALIZATION GAME
Another aspect of the images I am suggesting is that they need to be enclosed within a finite say Euclidean space, a rather large but not flattened room, say a large cube, with transparent walls.
There needs to be nothing flat about them, or the space.
The space within which these globes contend for dominance should probably itself be globular.
Such a graphic can give particular import to trade concepts like hollowing out, offshoring, attacker trade, etc.
One can see the victim nations or civilizations being progressively eaten out by attacker states and civilizations.
When Secretary Clinton referred to lack of leverage, maybe it was this kind of thing, in Asia, to which she referred.
There needs to be nothing flat about them, or the space.
The space within which these globes contend for dominance should probably itself be globular.
Such a graphic can give particular import to trade concepts like hollowing out, offshoring, attacker trade, etc.
One can see the victim nations or civilizations being progressively eaten out by attacker states and civilizations.
When Secretary Clinton referred to lack of leverage, maybe it was this kind of thing, in Asia, to which she referred.
THE GLOBALIZATION GAME
We will describe a so called game of globalization. It is not a board game, but exists rather in five dimensions.
You can think of it as a sort of language game, also, in a Wittgensteinian sense, but it is not quite that kind of thing really, either.
There are many players, big and small. They are nations as well as civilizations.
They try to expand internally and also, as part of this process of internal expansion, they try to consume their intra civilizational and extra civilizational neighbors and others more remote, or to ward them off from consuming them, or more usually both.
We can call it a ball game, or globe ball game, with each player represented as a ball or globe, trying to intrude itself physically into certain other balls or globes around it, either within its civilization, or into other ones, or both.
The balls or globes thus interpenetrate, and are best represented as translucent globes, the aggressor globes penetrating into the interior of the victims, the internal dimensions of each visible based on their translucence, similarly to how Steingart describes the actions of attacker states and their victims.
Steingart has a series of GDP illustrations in The War For Wealth. I especially like starting with his 2005 illustration, after p 201, to suggest a starting place for this composite image or images I am describing. It is only a mere starting place re relative magnitudes.
Steingart does entitle his work "...why the flat world is cracked", but his images of a three four or five D image for it are absent, and he seems content with a cracked flat world image.
Of course his globes or balls are not translucent, and do not describe the interrelationships I am describing, so that they would have to be drastically modified, by very different illustrations, to achieve the kinds of relationships my conceptions invoke.
They could also be schematized as interpenetrating molecules, at either end of Huntington's 9.1 figure. Show a globule of globes merging at ends of Huntington's 9.1 in 3 D.
You can think of it as a sort of language game, also, in a Wittgensteinian sense, but it is not quite that kind of thing really, either.
There are many players, big and small. They are nations as well as civilizations.
They try to expand internally and also, as part of this process of internal expansion, they try to consume their intra civilizational and extra civilizational neighbors and others more remote, or to ward them off from consuming them, or more usually both.
We can call it a ball game, or globe ball game, with each player represented as a ball or globe, trying to intrude itself physically into certain other balls or globes around it, either within its civilization, or into other ones, or both.
The balls or globes thus interpenetrate, and are best represented as translucent globes, the aggressor globes penetrating into the interior of the victims, the internal dimensions of each visible based on their translucence, similarly to how Steingart describes the actions of attacker states and their victims.
Steingart has a series of GDP illustrations in The War For Wealth. I especially like starting with his 2005 illustration, after p 201, to suggest a starting place for this composite image or images I am describing. It is only a mere starting place re relative magnitudes.
Steingart does entitle his work "...why the flat world is cracked", but his images of a three four or five D image for it are absent, and he seems content with a cracked flat world image.
Of course his globes or balls are not translucent, and do not describe the interrelationships I am describing, so that they would have to be drastically modified, by very different illustrations, to achieve the kinds of relationships my conceptions invoke.
They could also be schematized as interpenetrating molecules, at either end of Huntington's 9.1 figure. Show a globule of globes merging at ends of Huntington's 9.1 in 3 D.
RE GLOBALIZATION IMAGES AND IDEAS QUIGLEY HUNTINGTON STEINGART FRIEDMAN
This was an image I created to suggest a three or more dimensional globalization, and the interpenetration of nations and civilizations into eachother, to suggest an alternative to the so called flat world of Thomas Friedman and others.
In the next post I want to suggest some further images, and ideas along this path.
Thursday, May 21, 2015
Wednesday, May 20, 2015
BILL MOYERS LAUDS PIKETTY'S BOOK
Real Econ TV is now touting Moyers' remarks on Piketty.
Krugman had cleared the way for these dilettantes, like Moyers.
I suggest you read my blog. Think convergence.
Piketty's book is all, and only, about divergence.
Krugman had cleared the way for these dilettantes, like Moyers.
I suggest you read my blog. Think convergence.
Piketty's book is all, and only, about divergence.
Monday, May 18, 2015
Sunday, May 17, 2015
THE CASANOVA HAND OF THE FREE PRESS
http://bozonbloggon.blogspot.com/2011/07/casanova-hand-of-free-press.html
Terms search Casanova
Terms search Casanova
IF I SEE ANOTHER MICKEY MOUSE ECONOMICS EQUATION
I'll puke.
One senses that Piketty too feels at times much the same way.
One senses that Piketty too feels at times much the same way.
RE PURGATIVE FOR PIKETTY'S DIVERGENCE DISCUSSION TRY STEINGART'S ACCOUNT OF CONVERGENCE
I recommend especially, if you have the stomach for it, his heart warming passage entitled "The Market's Iron Fist: Lower Wages or No Wages at All" p 136
You can tell your grandchildren that your boomer generation made it happen. It is a happening thing. (Although this is not, technically, true. The process had been going on back into the 19th Century, but really took off during and after WWI, Wilson, FDR, Anglo American Establishment, WWII gave it a decisive boost, etc etc.)
American liberals like to talk about it as a 1980, and after, thing.
Profoundly untrue.
You can tell your grandchildren that your boomer generation made it happen. It is a happening thing. (Although this is not, technically, true. The process had been going on back into the 19th Century, but really took off during and after WWI, Wilson, FDR, Anglo American Establishment, WWII gave it a decisive boost, etc etc.)
American liberals like to talk about it as a 1980, and after, thing.
Profoundly untrue.
RE PIKETTY GLOBALIZATION CONVERGENCE AVOIDANCE SMELL THE COFFEE GAME OVER
You can neither innovate, educate, nor progressively tax, your way out of globalization convergence.
Terms search: smell coffee, game over, offshoring, doomsday
Terms search: smell coffee, game over, offshoring, doomsday
RE PIKETTY CONVERGENCE MECHANICAL CATCH UP OF ONLY THE WEST AND JAPAN
"But it is also incontestable that the reason for this convergence is quite simple....."
This is the Achilles Heel, so to speak, in his account. p 510, 511.
This is the Achilles Heel, so to speak, in his account. p 510, 511.
RE STEINGART
Steingart has a passage p 163 echoing my remark, "Never in the history of human conflict...."
"BUSINESS EXECUTIVES ARE LOATH TO DISCUSS..."
"Never before in history has there been such a massive transfer of knowledge--without war or conquest-- from one social group to another"
"BUSINESS EXECUTIVES ARE LOATH TO DISCUSS..."
"Never before in history has there been such a massive transfer of knowledge--without war or conquest-- from one social group to another"
Saturday, May 16, 2015
RE DK CURRENT POST GREAT DISCUSSION
I would call this just muckraking's newer, even more cynical, market capitalist face, re Seymour Hersh:
"...Hersh's work, from 1969 until today, illustrates what has happened to the United States in the last half century. The Vietnam War convinced young Americans who had believed their country could do no wrong that it could do no right. It accelerated an attack on all institutional, intellectual and moral authority. The new generation, generation X, that grew up in that atmosphere, is even more cynical than its elders, and tens of millions of Americans now have no trust in government at all. And that, in turn, makes government impossible. That is the legacy of the new tradition of investigative reporting as an end in itself, not designed to uncover a specific abuse or serve the greater good. The American people have lost the capacity to tell a good military operation, or a good public official, from a bad one." DK
Terms search: Drew Pearson fallacy, fallacy, Lorch, Fountainhead
"...And that leads me to my broadest point: Hersh's insistence that the details of the killing had to be altered so as to absolve US soldiers and the US government of a charge of murder. I do not believe there was anything they needed to be absolved of. This was not murder, it was an act of war against a man who had carried on war against the United States and killed more than 3000 Americans. Taking him into custody would have given him an opportunity to speak publicly to the world, and would surely have provided a pretext for more terrorist attacks designed to free him...." DK
With this passage, I quite agree.
"...Hersh's work, from 1969 until today, illustrates what has happened to the United States in the last half century. The Vietnam War convinced young Americans who had believed their country could do no wrong that it could do no right. It accelerated an attack on all institutional, intellectual and moral authority. The new generation, generation X, that grew up in that atmosphere, is even more cynical than its elders, and tens of millions of Americans now have no trust in government at all. And that, in turn, makes government impossible. That is the legacy of the new tradition of investigative reporting as an end in itself, not designed to uncover a specific abuse or serve the greater good. The American people have lost the capacity to tell a good military operation, or a good public official, from a bad one." DK
Terms search: Drew Pearson fallacy, fallacy, Lorch, Fountainhead
"...And that leads me to my broadest point: Hersh's insistence that the details of the killing had to be altered so as to absolve US soldiers and the US government of a charge of murder. I do not believe there was anything they needed to be absolved of. This was not murder, it was an act of war against a man who had carried on war against the United States and killed more than 3000 Americans. Taking him into custody would have given him an opportunity to speak publicly to the world, and would surely have provided a pretext for more terrorist attacks designed to free him...." DK
With this passage, I quite agree.
Friday, May 15, 2015
RE FIAT CURRENCIES
"Paper money is poverty, it
is the ghost of money and not money itself." Thomas Jefferson
Thursday, May 14, 2015
Wednesday, May 13, 2015
WHATEVER ELSE STEINGART DOESN'T UNDERSTAND
For instance, he doesn't understand the necessity for colonialism, in an industrialized world, once it has been set in motion by one civilization. Cf. his discussion of British India.
At least he seems to understand the implications of convergence in such a world much better than Piketty, a utopian apologist for convergence while repudiating divergence under the same conditions.
At least he seems to understand the implications of convergence in such a world much better than Piketty, a utopian apologist for convergence while repudiating divergence under the same conditions.
Tuesday, May 12, 2015
DUSTY HOLDS UP BIG DATA
http://bozonbloggon.blogspot.com/2013/05/re-maverick-executive-holds-up-big-data.html
Monday, May 11, 2015
RE TALKING PIKETTY AND STEINGART VERY DIFFERENT MECHANICAL ECONOMIC OUTCOMES
In fairness to Piketty, he does at many places point out that there is nothing natural or spontaneous about certain economic phenomena re how shocks have been handled, etc., and that politics and other social sciences play a greater role than encompassed by mere economics. I was glad to see that he advocates a return to political economy.
Reconstruction was as little a mechanical, very long term, economic malaise, as The Marshall Plan was a very quick mechanical economic miracle.
The Morgenthau Plan for the South, the Marshall Plan for the Axis. All very mechanical.
Put differently, the North did to the South very much what the British did to India according to Steingart's lurid account. The big difference is that the South was part of the country whereas India was a colony.
Only a Western civ fool would do to its own South what Steingart claims the British did to India.
It's a Western Civ theme. Similarly for the Morgenthau Plan.
The West's plan should have included breaking up the Soviet Union in 1918.....and not thereafter boom anyone, anywhere else, you didn't have to boom, and were not prepared, later, if boomed, to confront militarily.
What Steingart says the British did to India should have been the standard going forward.
One needs to contrast Steingart's India passage with that of someone like Quigley, re Gandhi.
Reconstruction was as little a mechanical, very long term, economic malaise, as The Marshall Plan was a very quick mechanical economic miracle.
The Morgenthau Plan for the South, the Marshall Plan for the Axis. All very mechanical.
Put differently, the North did to the South very much what the British did to India according to Steingart's lurid account. The big difference is that the South was part of the country whereas India was a colony.
Only a Western civ fool would do to its own South what Steingart claims the British did to India.
It's a Western Civ theme. Similarly for the Morgenthau Plan.
The West's plan should have included breaking up the Soviet Union in 1918.....and not thereafter boom anyone, anywhere else, you didn't have to boom, and were not prepared, later, if boomed, to confront militarily.
What Steingart says the British did to India should have been the standard going forward.
One needs to contrast Steingart's India passage with that of someone like Quigley, re Gandhi.
RE SAUDI ARABIA IRAN
Is it that the US is playing three sides, or just blundering?
I prefer to think, based on past situations, that it is just blundering, but maybe there are elements of Soviet overture or activity, as in the past (WWII) in Iran, that forces a new awkward quadrille.
Terms search playing three sides
I prefer to think, based on past situations, that it is just blundering, but maybe there are elements of Soviet overture or activity, as in the past (WWII) in Iran, that forces a new awkward quadrille.
Terms search playing three sides
Saturday, May 9, 2015
RE DK KRUGMAN UK AND TEXAS
"As a result, we just have to hope that whoever ends up running Britain’s economy isn’t as foolish as he pretends to be." Krugman
Just as we have to hope that the person running Texas isn't either.
Just as we have to hope that the person running Texas isn't either.
RE MY POSTS RE INFLATION DEFLATION BOTH RED HERRINGS SEE PIKETTY CONVERGENCE
Convergence, a topic he avoids like the plague. Not destabilizing to Piketty.
Here he let this slip out: p 649, fn 22: 'furthermore inflation depends...especially international wage and price competition, which is currently damping down inflationary tendencies while driving asset prices higher.'
re Convergence: 'Never in the history of human conflict has so much been given away to so many by so few for so little so quickly.' This blog.
For him, convergence is a mechanical, and frankly, natural economic process resulting from largely mechanical globalization; whereas divergence, although mechanical, is exacerbated by political aberrations and needs economic and political treatment.
Convergence, apparently, needs no treatment, and is, moreover, not mechanically susceptible to it.
What was either mechanical or natural about the recovery of Europe and Japan? What mechanical about the Marshall Plan? Why then wasn't the Morgenthau Plan as mechanical or natural as the Marshall Plan? The French wanted the Morgenthau Plan after all.....
What was mechanical about the IMF, World Bank, Bretton woods, etc.?
What has been mechanical about the rise of China?
In fairness to Piketty, he does at many places point out that there is nothing natural or spontaneous about certain economic phenomena re how shocks have been handled, etc., and that politics and other social sciences play a greater role than encompassed by mere economics. I was glad to see that he advocates a return to political economy.
Steingart said it best, in certain passages in The War For Wealth: nothing.
Terms search: Piketty, inflation deflation, 800 pound gorilla
re Convergence: 'Never in the history of human conflict has so much been given away to so many by so few for so little so quickly.' This blog.
For him, convergence is a mechanical, and frankly, natural economic process resulting from largely mechanical globalization; whereas divergence, although mechanical, is exacerbated by political aberrations and needs economic and political treatment.
Convergence, apparently, needs no treatment, and is, moreover, not mechanically susceptible to it.
What was either mechanical or natural about the recovery of Europe and Japan? What mechanical about the Marshall Plan? Why then wasn't the Morgenthau Plan as mechanical or natural as the Marshall Plan? The French wanted the Morgenthau Plan after all.....
What was mechanical about the IMF, World Bank, Bretton woods, etc.?
What has been mechanical about the rise of China?
In fairness to Piketty, he does at many places point out that there is nothing natural or spontaneous about certain economic phenomena re how shocks have been handled, etc., and that politics and other social sciences play a greater role than encompassed by mere economics. I was glad to see that he advocates a return to political economy.
Steingart said it best, in certain passages in The War For Wealth: nothing.
Terms search: Piketty, inflation deflation, 800 pound gorilla
GREAT TOPIC GREAT POST AND LAST PARAGRAPH
"...The post-Second World War generation has thrown away much of our parents' legacy, including the legacy of strong, popularly elected governments acting on behalf of the people. Here and across the Atlantic, the looming question is whether our societies can hold together and function effectively without such states."
Regarding 'strong' democratic governments, I think he is talking here mainly about European governments, the West in general, not the US government, which has always prided itself on being a weak government.
Thursday, May 7, 2015
Wednesday, May 6, 2015
Saturday, May 2, 2015
CLASSIC ECONOMISTS JOUST CARTOON
http://bozonbloggon.blogspot.com/2010/11/cartoon-mise-en-scene-daumier-economist.html
Friday, May 1, 2015
THE ANCIENT ROMANS' INQUIRY
"What is there there worth having?"
Given such a rubric, would ancient Romans have invested South Vietnam, had it been on their periphery, and tried to hold it?
Why?
Would they have invaded Korea, had it been on their periphery, and tried to hold it?
Why?
Given such a rubric, would ancient Romans have invested South Vietnam, had it been on their periphery, and tried to hold it?
Why?
Would they have invaded Korea, had it been on their periphery, and tried to hold it?
Why?
YOU CAN'T READ THIS ONE OFTEN ENOUGH
http://bozonbloggon.blogspot.com/2013/10/the-other-incalculable-blunder-bigger.html
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