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Paper delivered at Annual Meetings, Association for Evolutionary Economics (AFEE), Chicago, January 8, 2012 Major Outline The Pecora Hearings, 1933. Another 10 days that shook the world. Hearings sponsored by a dying Republican Congress. Role of Hoover, seeking scapegoat. Role of Senator Norbeck of S.D., an echo of earlier progressive Republicans of the Bull Moose . . . → Read More: Reverberations between Immoderate Land-Price Cycles and Banking Cycles  Comments are closed  Essay  Banking, Land Economics - Macroeconomics, Macroeconomic stability, Politics At a time when most everyone has an opinion about the state of the U.S. economy and the quality of decision-making in Washington, D.C., the voice of esteemed economics professor and former TIME magazine journalist Mason Gaffney is an important one. Currently teaching at the University of California, Gaffney has been publishing vital contributions . . . → Read More: Interview on After the Crash, 2009 Comments are closed Essay, Publication Land Economics - Macroeconomics, Macroeconomic stability, Speculation Working capital is the bloodstream of economic life. It is physical capital, the fast turning inventories of goods in process and finished goods that supply materials to the worker, and feed and clothe her family. Short term commercial loans and trade credit buy it, but the capital is “real”—a fact often forgotten in the . . . → Read More: How to Thaw Credit, Now and Forever Comments are closed Essay, Publication Capital theory, Land Economics - Macroeconomics, Land economics -- urban, Macroeconomics, urban development This crash is The Big One; it has signs of becoming a Category 5. How do we know? We’ve “been there and done that” so many times before, roughly every 18 years over the last 800 or more. Major wars and, rarely, plagues have broken the rhythm, along with the little ice age, reformation . . . → Read More: THE GREAT CRASH OF 2008 Comments are closed Essay, Publication Depression, Land Economics - Macroeconomics, Macroeconomics, Recession “Stimulus” is the buzzword du jour of domestic policy, but its old metaphors ring with sad satiety: kick-start the motor, jump the battery, prime the pump, shot-in-the-arm, wake-up call, jolt, multiplier, ripple effect, … . Fact is, “we’ve been there and done that” several times for generations back. We have been doing it again . . . → Read More: Stimulus: the False and the True Comments are closed Essay, Publication Land Economics - Macroeconomics, Macroeconomic stability, Macroeconomics, Politics In January 2006 Insights showed how successive administrations in Washington have doctored the Consumer Price Index (CPI) to conceal the real rise in the Cost of Living (COL). Self-defined “mainstream” economists have served as tools, some as active leaders and others as sheep in the herd. For Insights column in Groundswell December 2007 . . . → Read More: The Shrinking Dollar Comments are closed Essay, Publication inflation, Land Economics - Macroeconomics, Macroeconomic stability, Macroeconomics To consume most goods and services is to eat them up, burn them, wear them out, see them break or rust out or crack or tumble down. But how about land, does anyone think of that? Land as space is not used up. To consume it is to preempt its service flow . . . → Read More: What Is “Consumption”? Insights Column in Groundswell August-September 2005 We hear a lot these days about the need for more capital to make jobs. Some of what we hear and read we may discount as self-serving, lobbying for more preferential tax treatment of profits. Yet there is a case argued by sincere and public-minded people on objective grounds which we must take seriously. . . . → Read More: Taxes, Capital and Jobs – Revised Comments are closed Publication capital gains, Capital theory, Land Economics - Macroeconomics, Macroeconomics, Unemployment We hear a lot these days about the need for more capital to make jobs. Some of what we hear and read we may discount as self-serving, lobbying for more preferential tax treatment of profits. Yet there is a case argued by sincere and public-minded people on objective grounds which we must take seriously. . . . → Read More: Taxes, Capital and Jobs Comments are closed Publication capital gains, Capital theory, Incidence, Land Economics - Macroeconomics, tax exemptions, Unemployment |