Markets are cages for firms

modern mixed market economies" This term is too ambiguous and unfocused  And without essential class power relations Mixed ? We have these outfit types State civic public private Market ? Outfits of all types interact thru markets  But markets are exceedingly heterogenious Economies ? This really is the noun Modern economies Market economies With mixed qualifying Mixed as in state civic and for profit outfits And for profit both public and private the essential question when push comes to punch Who hits hardest Answer  The profit outfits ... Greenwald stiglitz theorem sets a new welfare paradigm Beyond pigou and tje term "market failure " Failure of spontaneous emergent market outcomes is the norm not the except Pure  Markets don't fail to optim8ze here and there  They simply fail to optimize everywhere No market requires zero intervention  Zero imposed structuring etc  The exception study should be market success not market failure Existing Market results as welfare optimal  is practically zero  in real social systems The hidden revolution in micro  Of the 70's and 80's  Is the road ahead to socialism  just as the much celebrated  Counter revolution in macro Is the road back to the guilted age ... The lacking cohesion Can come from macro and meso Lerner mechanisms Market like systems that provide the CO ordination and incentives to market level firms to stay on the paths  to green earth II ... Guilted age ....... Ie 1870 to 1896 But  A guided age is what we ought to aim for ... An age of Lerner mechanisms Market like decentralized imposed systems To CO ordination and incentivizes  Market level outfits ... Chen Yun talked of markets like they were birds that needed to be caged by society thru the state Actually markets are the cages Firms the birds ..... Markets as cages See coming web site ... CAges for firms

Social corporatism

Social corporatism  A federal charter of limited term That enables social management of the corporate ........ Anti capitalist ? No  But .. .... limiting the sway of firm level profits  To pro social Firm level profits viewed from  The interior of the firm  And without regard to other considerations are by their mode of generation too often anti social guide lines Reply

Stiglitz macro

pathetic " ?? what more ought a social liberal mention .....in an IMF venue stig mentions these points : fiscal policy works.....fed oughta set targets for more then just product inflation ...much stronger financial regulation ( self regulation is unreliable )needed "Real stability will require a full range of tools for capital account management" (NB) !!! "... including cross-border regulations on capital flows" "...industrial policies have played an important role in enhancing growth " "the attempt to incorporate micro-foundations was laudable, it was important that they be the right micro-foundations. " "While in normal times, credit and money may be highly correlated, this is not so in the usual times surrounding crises" "countries with central banks that were not independent performed so much better than some of those that were partly because the latter were “cognitively captured” by the financial markets that they were supposed to regulate" "Standard models not only don’t provide a good explanation of the origins of a crisis, such as the one Europe and America are experiencing, they also don’t adequately explain the slowness of the recovery..." "for years, output has remained substantially below its potential" i note only one knock kneed shibileth " it was important not to lose sight of the risks which high and variable inflation can impose" ------------------------------------------------ any radical economist should quickly see the "tensions" revealed here what are we looking for in main stream economics anyway ?? the oeuvre of uncle joe is a treasure trove of useable models and insights thesis: from the papers of joe and his assorted co authors one can build a very nice micro foundation for a sharp edged marxian " critique " of present day political economy we marxist economists need to recognize this is guerilla war we live off the class enemies weapons in our liberated zones

Unicorns and neutral policy rates

neutral policy rate exists somewhere between a unicorn and socially oriented corporations Progressives need remember  The rate structure for dollar debt  Is social engineered by the complex Of federal and wall street institutions  It no more emerges from pure market transactions  and  pure market participant expectations  Then a fly emerges by spontaneous generation from horse apples  AND There is no neutral rate of intetest Where output prices are in steady state  only more or less succesfully contrived  Steady rates of Inflation .......... One could define a path of policy rates that result from attempts to stabilize the rate of output inflation over some time interval But that path of rates  would presumably  be arrived at thru macro managers adjustments to anticipated inflation outcomes  This is active management to expected outcomes  not talking about where something called a price impact netural policy rate might be  neutrality exists  Invisibly dancing before their eyes

Social corporations and social markets

Corporate laws regs taxes  need a giant transformative  Jubilee Social corporations out of capitalist corporations Recall capitalism is non social There can be no social capitalism ................. Corporations even when operating inside  Well designed and managed social markets  Themselves  Need internal management incentives that promote  Active management  To become and remain  Maximally congruent with optimal social welfare

Uncle's potential output

In an open social production system Technically The INPUTS for the coming production periods are global in origin And subject only to Transport and installation lags Assume unlimited foreign demand For debt issued by the state in the Domestic currency How can one estimate such a domestic production system's potential output

Hebrew job answered by the Lord

Comrade Job

His dispair

His mentations

His epiphany

A crazy little blessing : FRANKIE

$ 10 a gallon with a 5 dollar ration

The tax per x

 final user price Fixed  very high
Maintained
with a variable tax

Gas electric petrol

 Ration card

Rations are just dynamic endowment distribution paths

Household or per capita
 Carbon emision rations
with trade exchanges

Exchange theory 101

 Why wait
Gas  electric petrol