Reading

Created
Tue, 10/01/2023 - 06:03
Video and transcript.

Subject: global corporate totalitarianism.

Naked Capitalism
50 Years After Allende at the UN: a Corporate Triumph Named Multistakeholderism
Lynn Fries interviews Harris Gleckman, Senior Fellow at the Center for Governance and Sustainability, UMass-Boston; Director of Benchmark Environmental Consulting, and Board Member of the Foundation for Global Governance and Sustainability
Originally published at GPE Newsdocs
Created
Tue, 10/01/2023 - 06:00
Judd Legum’s newsletter today reports on an English teacher in Florida who is leading a charge to ban books. She’s doing all the usual banning of LGBTQ material but also wants to make sure her white high school students aren’t made “uncomfortable” by having to read books about race: Vicki Baggett, an English teacher at Northview High School in Florida, is pushing for the Escambia County School District to remove nearly 150 books from school libraries.
Created
Tue, 10/01/2023 - 05:45
Well, happy 2023 to all my readers. We are back for another year – the 19th in this blog’s existence. All the observers have been waiting for a sign that the US interest rate hikes are slowing the US economy down, which is the mainstream logic that has been used to justify the regressive policy shift. The data, so far, suggests that the inflationary pressures are subsiding as a consequence of the factors other than the interest rate changes which seem to have done little other than redistribute income to the rich away from the poor. The latest labour market data release from the Bureau of Labor Statistics supports that view. Last Friday (January 6, 2022), the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – December 2022 – which revealed on-going employment growth, rising participation and falling unemployment. These are good signs for American workers. Further, as inflation is subsiding the modest nominal wages growth is now providing real wages growth – another virtuous sign. The latest data is certainly not consistent with the Federal Reserve type narratives.
Created
Tue, 10/01/2023 - 05:36

The advent of military Keynesianism is a warning against complacency about the moral superiority of the West in defending Ukrainian democracy.

The war in Ukraine features in our consciousness as resistance to invasion, with the West playing a leading part in supplying military hardware and imposing sanctions on Russia, consequently breaking down international free trade, regulating international payments, and boosting food and energy price inflation. But the war is also changing us with the emergence of a new role for the state in the countries supporting Ukraine’s resistance.

Created
Tue, 10/01/2023 - 05:21
from Dean Baker The New York Times had a major article reporting on how many people in South Korea, Hong Kong, and Japan are being forced to work well into their seventies because they lack sufficient income to retire. The piece presents this as a problem of aging societies, which will soon hit the United States and […]
Created
Tue, 10/01/2023 - 05:21
Banking is an ongoing area of controversy in popular discussion of economics and finance. What sets it apart from other areas of economic controversy is that it is not seen as contentious by the mainstream. This has meant that arguments are largely done at the fringes, and generally ignored by conventional economists. I see two main drivers of the difficulties in dealing with the subject: ideology and theoretical intractability.

Editorial note: this article is meant to be an introductory section of a chapter on banking in economic theory. I am going to make a bunch of wild assertions that are supposed to be dealt with later in the chapter. I expect that I will have follow up articles filling in details later....
Bond Economics
Created
Tue, 10/01/2023 - 05:06
"Utility," derived from Bentham and Mills' Utilitarianism, is a fancy word that economists use to mean satisfaction, which is the contemporary term for 18 c. Utilitarian "happiness" that was inspired by Greek: εὐδαιμονία eudaimonía)," itself derived from Aristotle's Nichomachean Ethics. The Greek term eudaimonía is also translated as "welfare," another term in use in economics. Literally, it means "good spirits." This could be thought of as wellbeing.

But what is happiness? Is it just economic satisfaction, or chiefly economic satisfaction, which is the way economists generally use it? According to the world's wisdom traditions, happiness in the highest sense is associated historically with being at peace, which is a considered "spiritual" rather than physical in the sense that happiness is not equatable with physical pleasure or material satisfaction.
Created
Tue, 10/01/2023 - 05:00

Friends, administrative coordinators, benefits-eligible staff: lend me your ears.

There comes a time in every hero’s journey when they must face their worst fear. I sought an office job, and the gods granted my wish. But this wish came with a cursed stipulation. My new employer cannot see how they have crushed my dreams of glory. Still, I must soldier on; I cannot keep myself alive whilst maintaining my dignity, and I cannot resist the call. If I want to keep this perfectly fine, well-paying job in administration, I must confront my worst enemy, my prophesized foe—the greatest of all evils.

I must write the department newsletter.

When I graduated, I swore to myself upon the grave of my degree that I would never fall into the clutches of marketing or editing. My peers each donated their youth to the beast, as they found work only in social media management and copywriting. Somehow, though, I evaded it. I had worked in libraries for years, narrowly avoiding the fate my peers undertook—by scanning returned books and answering reference questions.

Created
Tue, 10/01/2023 - 04:57
The US-Australia Force Posture Agreement has opened the gate for the US to set up Australia as a launching pad for its next war against China. The Albanese government must invoke Article XXI to terminate it and reclaim sovereignty. When it comes to military activities or agreements between Australia and the United States, the ANZUS Continue reading »
Created
Tue, 10/01/2023 - 04:56
State and territory first ministers are again pressing national cabinet to consider health care reform as its top priority at the first meeting for 2023. We have heard this song before. The first so-called national cabinet after the election of the Albanese government considered health care reform, and asked first secretaries to carry out a Continue reading »
Created
Tue, 10/01/2023 - 04:55
The farce occurring in the US House of Representatives, where a small group of far-right Republicans are seeking to veto the overwhelming choice of their colleagues for the party’s congressional leadership, may well be resolved by the weekend in the traditional American parliamentary way, with bribes, deals, committee placements and stiff-arming. It is not the Continue reading »
Created
Tue, 10/01/2023 - 04:54
Treasury’s December 2022 Population Statement has received more media attention than any of its previous statements. This is predominantly due to Treasurer Jim Chalmers promoting the statement extensively in contrast to his predecessor who largely treated these statements as business as usual. Chalmers is reported to have said “the news that Australia’s population would be Continue reading »
Created
Tue, 10/01/2023 - 04:54
Anzac Parade in Canberra is Australia’s major ceremonial avenue, a grand boulevard commemorating (heroic) service and sacrifice. Yet at least one of its monuments represents war crimes, racism, torture and murder. Few nations are as strident about their military history as Australia. There is no more admired symbol in our national psyche than that of Continue reading »
Created
Tue, 10/01/2023 - 04:50
“If we don’t confront Christian nationalism then we are leaving ourselves open to future attacks, like what we saw on January 6,” said one critic. In an effort to fill in what they say are critical gaps in the U.S. House select committee’s report on the January 6, 2021 attack on the U.S. Capitol, faith Continue reading »
Created
Tue, 10/01/2023 - 04:49
Exclusive: American neocons helped destabilise Ukraine and engineer the overthrow of its elected government, a “regime change” on Russia’s western border. But the coup and the neo-Nazi militias at the forefront also reveal divisions within the Obama administration, reports Robert Parry. More than five years into his presidency, Barack Obama has failed to take full Continue reading »