Does America have a flawed pattern of growth? For over two decades, growth has depended on asset bubbles and rising indebtedness. Business cycle recoveries have been marked by jobless recoveries and stagnant wages for most Americans. The only way to escape this defective pattern, argues Thomas Palley, is to correct the problems in the macro economy. Join Dr. Palley to discuss these issues and his new paper, “America’s Exhausted Paradigm: Macroeconomic Causes of the Financial Crisis and Great Recession.”
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erf…
is it important to recoginize the population bubble, versus the technoligy leverage to complete the same amount work, with less human labor?
so hard to keep things on the level, when the one life I have is shot, for the riches crap shoots in control of wealth…
sorry, hard to keep silent all the time in the peanut gallery, watching the show with no remote
I feel some of the intent is well founded by a few,but it’ll be of no use with out consensus
Thanks for providing this useful information. On another issue, you should consider providing a lavalier microphone for those speakers who have increased mobility. This will provide a more uniform audio level and is much less distracting. Also it is NOT necessary to have the speaker in an overlay box especially when the graphics are so important and so frequently referred to by the speaker. These are small issues, but the aggregate of these factors make a huge difference in communication.
America should sell Alaska and the Pacific Islands to Asia in order to cover her huge foreign debts.
Don’t start with saving? Where does this investment capital come from without savings? We absolutely MUST save so that there IS capital to invest. Savings should go to finance productive capacity and not consumption as has been the last 30 years. There is no “strong dollar” policy and the fed is concentrating on creating inflation, not fighting it. Full employment is a side effect of full production, otherwise full employment would be simple to achieve simply by throwing away all machines.
Who’s idiotic idea was it to cover up the charts with a video window of him speaking? I can’t see the number on the chart, damn it. It’s persistent through the video so far and it sucks.
The CPI is severely compromised to make inflation look lower than it is. It should never be used for anything.
He seems to have completely ignored the massive debt we accumulated and moves right on to capital investments, but that can’t happen until the debt is repudiated or paid off.
The “key” is to understand the macro-economy model, to begin with. It is a Keynesian system. Understand the defects of Keynesian thinking and the Keynesian “model”. The best way to understand Keynesian defects is to listen to the Keynesians’ critics, the Austrian capitalists. And therein we begin to leave boring economics behind.
No, we DON’T have to save to create capital to invest. We can just create money in the Federal Reserve, simply being careful that this does not increase inflation. In an under-capacity, like the present one, the inflation threat is minimal.
I have since this post, largely changed my position. I do think there is a danger of inflation, but not as much as I used to think. What baffles me is why the US treasury has to borrow at interest anyway in the first place. Given our failing infrastructure, the US should be working on rebuilding it on interest free money.