tag:blogger.com,1999:blog-6245381193993153721.post2396022480980938705..comments2024-03-28T17:08:15.784-07:00Comments on Social Democracy for the 21st Century: A Realist Alternative to the Modern Left: A Lecture by Robert Skidelsky on Keynes’s General TheoryLord Keyneshttp://www.blogger.com/profile/06556863604205200159noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-6245381193993153721.post-28411549354527924892016-12-27T15:07:24.327-08:002016-12-27T15:07:24.327-08:00I did FINALLY arse myself to read a little of Keyn...I did FINALLY arse myself to read a little of Keynes' General Theory a few weeks ago~! JMK is no light read, and I'm sure I missed a lot of what he was putting forth, but I did get about halfway through Ch. 19 on Wages. If I am getting what he says correctly, I agree with him: Lowering wages won't help because you cannot guarantee the whole economy will lower overhead to match that. IOW, I may take a job at $7.50 an hour instead of $15 and think I'm doing something, but that doesn't mean rent, utilities, food, etc are going to decrease to meet my lowered standard of living. Interesting thoughts~!<br /><br />I do find Ellis Winningham however, much better for a rudimentary, cut the BS explanation of how the Economy and the US Monetary system actually works. The simplicity of his message that's tailor-made to the Economics Novice like myself is something that we can use to get the truth out there beyond what the politicians are trying to keep us in the dark about:<br /><br />Real Progressives live with economics guru, Ellis Winningham:<br /><br />https://youtu.be/Z_m9_46IZGk<br /><br />Basic breakdown of the money system and the US Economy:<br /><br />http://elliswinningham.net/index.php/the-basicsKevinhttps://www.blogger.com/profile/11890229869783893118noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-27797903570865150362016-12-25T19:14:57.947-08:002016-12-25T19:14:57.947-08:00Hi LK,
Point (4) is an important one. Davidson al...Hi LK,<br /><br />Point (4) is an important one. Davidson also made a similar point. Keynes was seeking to overthrow the view that the only reason for unemployment was sticky prices, wage rates, or interest rates which is a neoclassical view.<br /><br />Neo Keynesians and New Keynesians have adopted a neoclassical view and the NKs use the economics of imperfect competition, in the short run, to explain why prices and wages may be sticky in the downward direction.<br /><br />Keynes attempted to show that there are many equilibria of which full employment is the limiting case. In the real world, most equilibrium positions are at less than full employment. This is true whether you assume models of imperfect competition or the unrealistic view that perfect competition prevails.<br /><br />There are various fallacies of composition where inferring from micro to macro may be illegitimate. e.g. paradox of thrift, assumption that a cut in wages in one industry will have the same result if it occurs in most industries. A general fall in real wages will not only affect costs but also aggregate demand.<br /><br />Regards,<br /><br />John Arthur Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-25284368598682619922016-12-21T12:30:56.953-08:002016-12-21T12:30:56.953-08:00Sounds interesting, but very expensive.Sounds interesting, but very expensive.Ken Bhttps://www.blogger.com/profile/12976919713907046171noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-6113868067018051352016-12-21T02:20:29.947-08:002016-12-21T02:20:29.947-08:00Currently reading "The Seduction of Unreason&...Currently reading "The Seduction of Unreason" by Richard Wolin (himself a leftist) and it's highly recommended as an early investigation into the kind of thinking that got us here. Wolin notes that the postmodern left actually borrows from the same philosophical cores as Fascism and when taken to its logical conclusion, ends up being a form of "Left Fascism", due to having the same Nietzschean, anti-rationalist and ethnonationalist cores as fascism but simple applies it to the inverse cultures as right-fascism does, treating historically non-dominant cultures as "purer" than more historically dominant cultures (whose members are subject to dehumanizing/scapegoating language). Check it out if you can.<br /><br />Also LK I think the members of the "Alt-Left" who are not racialists (such as Agent Commie) should consider changing their title to either "Realist Left" or perhaps "Old Left" due to Alt-Left being somewhat associated with racialism. It would likely be better for public relations if the group got larger. Anonymoushttps://www.blogger.com/profile/17973580598290240182noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-54667111800425814662016-12-20T20:06:24.702-08:002016-12-20T20:06:24.702-08:00Reason magazine proves one of your claims LK.
ht...Reason magazine proves one of your claims LK. <br /><br />http://reason.com/blog/2016/12/20/mtvs-white-guy-resolution-2017-might-jus <br /><br />Ken Bhttps://www.blogger.com/profile/12976919713907046171noreply@blogger.comtag:blogger.com,1999:blog-6245381193993153721.post-70383462996159306872016-12-19T21:49:12.264-08:002016-12-19T21:49:12.264-08:00Ahh the old good purely economic article i missed ...Ahh the old good purely economic article i missed this type of articles. disequilibriumhttps://www.blogger.com/profile/09760922141392402211noreply@blogger.com