Show them the fetters

not enough to know the fetters we gotta seriously agitprop em corporate capitalism out grew the gold standard no safety nets and balanced budget mania but capitalism acting spontaneously reproduces itself with an updated superstructure not a change in class dictatorship. we must target each fetter and why the cap class wants it and until the capitalists figure out a way to co exist with a progressive reform wr get no reform in fact diabolical hooey like NAIRU new fetters we must push the reform struggle but we must take people to the mountain top too to show the vista and a peoples state at long lasr at its core a wage class guided dictator ship willing and wanting to liberate us all from capitalism and its stage by stage morphings of one set of fetters into the next set of fetters nb next stage btw may be back to old fetters the old made new again think 1978 to 2008

Gargantua 2.0

yes the launch is nearing we will be up b4 trump hets re elected readybto battle the corporate elements the newly formed lower east side mass criticism soft wear (sic) group is tooling up to float macro soft interactive fully open source class struggle mat base insight vehicles

From center seat inside the rose bush

yes i call this my home red beauties and sharp thorns

Back before site raising

we start with job markets in America They have chronic slack over the entire cycle And this is by macro policy objectives wage repression Under the guise of price inflation control A solution to an almost forgotten real context The stagflation 70's solution end the inflation keep the stagnation add3ndum aug 23 flank speed macro coming

Branko wants s start up no private capital involved form credit system..

Your own " business " model Branko Is possibly combinable with a piketty tax regime Capital scarcity is after all A reflection of existing Limits to global physical production Mobilizing and guiding the development of global or even local Production Can use the modern credit economy Given the dual inflows of fiat credit and a sovereign wealth fund Supplied out of a piketty tax regime

Market segmentation for price discovering

Imagine firms guided by market prices Cut markets in island like pieces and play with various price discovery methods in osolated zones

Reading pgl is like reading a graphic novel about a vamp hire slayer Fun but wonderlandish There is no constraint on nominal deficits No real fiscal restraint Its A suckers game comrades ! A way to twart kaleckism Lernerism Vickeryism Short or long term no nominal constraints And what else is PGL jiggering around about here ? Macro science long since demolished these fiscal budget based bugaboos That twist PGL into a five and a half foot pretzel The growths man in PGL With his concern about Social capital flows into the production system Ends up As pro corporate as his whipping boys the borax baring supply side mule team ReplyWednesday, January 14, 2015 at 12:48 PM pgl said in reply to Owen Paine ... Owen - start a blog. Contribute something to the debate. And don't do a Greg Mankiw by closing it to comments like he did. But be prepared for unwarranted attacks to your contributions (sort of like the one you just launched). ReplyWednesday, January 14, 2015 at 12:51 PM Owen Paine said in reply to pgl... I have a blog But it's closed to public view For obvious reasons It's a log of my discoveries and rediscoveries No not yet Laid out in formal detail But my conclusions are so boundary violating So world disrupting It's like doctor frankensteins lab notes Soooooo I must dose it out here in brief squibs ReplyWednesday, January 14, 2015 at 01:05 PM pgl said in reply to Owen Paine ... "But it's closed to public view - For obvious reasons" Obvious? Cause you're more cowardly than even Mankiw? I noticed that you did not have the dignity to post your garbage over at Econospeak. I guess you don't post your attacks on other economist bloggers directly over at their blogs either. Coward. ReplyWednesday, January 14, 2015 at 02:26 PM Owen Paine said in reply to pgl... Coward sounds a bit grand Falstaffian ? Indeed I embrace that pose But this is not combat ..no ? Try to stick to substance Here Even if I japed it up some We groundlings have no access to above the fold at well visited sites in blog land As to why I don't often comment at home sites I really restrict my self to this site I have an over generous host here I greatly admire A few sympathetic readers Why travel ? To seek failure Comforts is not cowardice is it ! I've received attacks here I wish there were more Particularly substantive ones that didn't side step the relevant points Even the venerable snowplow ski Seemed trapped by his stolid support for the MM agenda You your self usually abandon exchanges when a topic requires more then a few blasts of the war trumpet Or the parlor kazoo This topic Fiscal constraints has always divided us We once got to the point where you whipped out Sargent Or was it's Sims ? At any rate J m mason has conducted some nice exchanges at his site on this finite fiscal space gig And I really haven't seen any knock downs let alone knock outs delivered To the no fiscal constraint thesis Once we clear away the elaborate thicket of constraining assumptions Placed a priority on a sovereign state with it's own currency Which btw it ought to Institute tout for e if it lacks one ReplyWednesday, January 14, 2015 at 02:41 PM Larry Signor said in reply to pgl... pgl, Your point was well made. Owen is a troll and a jerk with an overly developed sense of self importance, or more probably, smoking something he should have left alone. ReplyWednesday, January 14, 2015 at 10:57 PM Owen Paine said in reply to Larry Signor... Guilty on both counts ! My brand? Troll twigs ReplyThursday, January 15, 2015 at 06:05 AM Owen Paine said in reply to Owen Paine ... He will miss or miss construe my constructive criticism I'm sure He is pro job class But he fears inflation And the way to control debt burdens involves the skilled use of wage and price inflation He fears it like one of our naked ape ancestors feared it before we learned to control it ReplyWednesday, January 14, 2015 at 12:53 PM Owen Paine said in reply to Owen Paine ... Pgl stopped discovering new models some where back When dear Elvis was still Splitting his pants on stage out there in lost wages Nevada Since then he's known everything worth knowing and rejected everything else In a polemic He's like a good friend that you'd let loose on your worst enemy Relentless and ally wise enough He can defend the truths he knows with fire and claw And to me hes lovable for that But hey there are positive lessons to propagate ReplyWednesday, January 14, 2015 at 01:00 PM Owen Paine said in reply to Owen Paine ... There is no debate on fiscal activism It was all settled long ago At least by 1946 Since then we have seen much refinement And some further proposals for socially constructible macronautic mechanisms Particularly in the area of output price level regulation Unfortunately we have also seen 60 years plus of corporate sponsored obfuscation dis information Public focal diversion Mass knee jerk Superstition mongering And of course self elaborating OZ- o - nomics ReplyWednesday, January 14, 2015 at 01:14 PM Owen Paine said in reply to Owen Paine ... The road not just untraveled but unbuilt That leads from here to the new jerusalem is simply mapped But hard as hell itself to build However To fail to shake this road map in peoples faces Would be to betray a greater truth In the name of immediate meliorism Short run policy that has no connection to long run reformation Is feeding the livestock outside the slaughter house ReplyWednesday, January 14, 2015 at 01:20 PM Owen Paine said in reply to Owen Paine ... And to cry This is all the loaves and fishes we can get for you Right now When it plainly isn't. ...... I find that mighty hard to get behind ReplyWednesday, January 14, 2015 at 01:22 PM pgl said in reply to Owen Paine ... "It was all settled long ago - At least by 1946" Settled before Elvis? It is you who stopped thinking decades ago - not me. Thanks for clarifying this. ReplyWednesday, January 14, 2015 at 02:31 PM Owen Paine said in reply to

Social firms v social markets

Yes corporations are already social firms but of course the infamous corporate liberation movement from its inchoate inception In 1969 to the startling last moments Of 2008 Which cleverly Reversed much of What earlier Efforts acvomished toward mobilizing corporate activity In the long and lingering aftermath of The crisis of September 2008 Restarting the harnessing of corporate firms to the general good of society Has staggered to its still unsteady feet

Agent driven Climate controls will come but now lets get socoal production controls

Weather and social production

In the 50's We were going to tune up the weather That was abandoned For simply improved forecasting That is exactly not what we should do about social production The point is to improve it not predict it Physical atmospheres s and social production systems share complexity but not agency The existence of Agency is both the hope And the problematic of social production We need detailed now casted data and an adequate set of macro instruments Ready to smooth and steeped Our macro climb to society wide Freedom from material labor necessity

The strategic markets sector : markets that contain firms with pricing power and thus strategic options

Oligops play pricing games with each other in the in markets for their products Galbraith focused on this sector And Lerner mark up cap and trade Use it or lose it and rent flush CO ordination markets are relevant To this sector Clearly reliably sustainable peoples state control of the fire sector is a crucial features as else where

Price spirals are the deeper target of social management of autonomous market guided firm production

The inflation rate governed by stop start macro policy cycles of relative injection and extraction rates Or net credit flows and their interest rates q

Private Profiteering is no virtue .....and what else is mankiw trying to protectb

If mankiw urges Free range corporate pricing and wage setting as the best practical long run state policy Why Surely he recognizes the next stop on the road to socialism isn't inevitably Weimar Or the Soviet union Why is he shielding oligop outfits What is the social miracle contained in firm level exploitation of primary producers Imagine a system with just one class Employees No capitalist rentiers Like no landlords Yes we'd still face the question of optimal compensation patterns for the various employed Yes nothing prevents a system like ours now where the executive suite gangs Haul out huge hunks of firm level infra marginal value added But Once the state is dedicated To socializing a socially optimum share of surplus value nothing suggests compensation Structure can't be Employee Congress determined

Mankiw is anti socialist pro corporate capitalist so.....

The peoples state despite Mankiws dogma Can improve macro performance Yes at the expense of corporate Market liberties Consider these liberties They are a social expedient Justified by outcomes Demonstrate socially superior Outcomes with a social market design And that suffices to justify the reformation of oligop corporate sector markets and firms

Mankiw ripped

"the government can always print money to pay its bills. But that fact does not free the government from its intertemporal budget constraint." What intertemporal constraint ? The global system of social production remains finite And has limits at all times and places This is a tautology Where has anyone claimed magical powers of limitless extension at the present margin s of social production The limits are a frontier to be forced Till bottle necks overwhelm additional output and shortages become no longer a spur to more production of a given output at a certain quality But a chronic condition ------------------------------- "the economy normally operates with excess capacity , the economy’s output often falls short of its optimum." Indeed and it is the task of the peoples state to force out more production Then spontaneously emerges....at all levels and in all sectors " But that conclusion does not mean that policymakers only rarely need to worry about inflationary pressures." Here one considers demand pull inflationary Pressures The peoples state must arbitrate the combo of price increases and delivery delays And the estimated time frame of rectification ------------------------------- "in a world of pervasive market power, government price setting might improve private price setting as a matter of economic theory." "But that deduction does not imply that actual governments in actual economies can increase welfare by inserting themselves extensively in the price-setting process." If the firms set wages and prices Enter Lerner CO ordination markets To regulate over all limits If the target is firm level rents The system of use it or lose it enters the story This question of dynamic and structural rents remains open for vast investigation and social remedy Pay it forward The rent flush is a possible solution too

Mankiw on MMT

the government can always print money to pay its bills. But that fact does not free the government from its intertemporal budget constraint. I agree that the economy normally operates with excess capacity, in the sense that the economy’s output often falls short of its optimum. But that conclusion does not mean that policymakers only rarely need to worry about inflationary pressures. I agree that, in a world of pervasive market power, government price setting might improve private price setting as a matter of economic theory. But that deduction does not imply that actual governments in actual economies can increase welfare by inserting themselves extensively in the price-setting process.

Vickrey macro max

New policies new politics Vickrey macro max Proposes a job forcing system that drives the social production system to the Beveridge frontier The system phase critical edge Where job openings and job candidates Ossilate along a ratio range That only practice can optimize Hazards abound Protracted product scarcity Wage spirals Trade d3ficit ballooning Rampant undoc In migrations Job floor discipline collapse Corporate spending strike Etc

Do means always justify ends ? Consider open election liberal democracy

Corporate America has yet to stage a a CO ordinates spending strike

Nope So far booms have self terminated spontaneously Or by act of state

The final problematic of kalecki macro : corporate contrived contractions CCC

CCC study has never consolidated itself into A steady topic of investigation Why ? Till now no regime has ever Implemented A permanent kalecki macro guided Aggregate Demand management system