Articles

A Grand Global Bargain? Save the Economy, Dismantle the Empire

March 15, 2008
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Counterpunch Today’s deepening financial and economic crisis cannot be alleviated without addressing a number of problems that the public does not really want to hear about. Even to cite them raises a wall of cognitive dissonance. For starters, today’s debt problem is not marginal, but has become structural – and structural problems cannot be...

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Henry George's Political Critics

January 25, 2008
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Henry George’s Political Critics, in American Journal of Economics and Sociology 67 (January 2008), pp. 1-46.

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Why the “Miracle of Compound Interest” leads to Financial Crises

August 27, 2007
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Oslo conference, “Financial Crises in Capitalism”, Aug. 27, 2007 I first met Erik Reinert in 1994 at an economic history conference in Germany, and have been a member of his Reality Economics group since its founding. Erik Reinert’s Reality Economics group has revived the awareness of economists whose names have disappeared from most histories...

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Whats Missing from the Capital Gains Debate?

March 25, 2007
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Whats Missing from the Capital Gains Debate? Real Estate and Capital Gains Taxation (pdf), with Kris Feder (Levy Institute Working Paper 17, 1997)

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Real Estate and the Capital Gains Debate

March 25, 2007
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Real Estate Capital Gains Debate (pdf)(Levy Institute Public Policy Brief 32, 1997)

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The New Road to Serfdom – An illustrated guide to the coming real estate collapse

April 20, 2006
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Can be downloaded from here or from Harpers.

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The $4.7 Trillion Pyramid: Why Social Security won't be enough to save Wall Street

April 24, 2005
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Harpers Magazine, April 2005 They wanted something for nothing. I gave them nothing for something. — J.R. “Yellow Kid” Weil Social Security, formerly the “third rail” of American politics, has now been trod upon, in rather dramatic fashion, by George W. Bush. Given that the maneuver is both stupid and unnecessary, one must ask...

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Poland, the Euro, and the Dollar's Double Standard

September 1, 2004
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Published in Fakt (Warsaw) Poland’s vote to join the European Community has put an end to the centuries of military rivalries that have long devastated the nation and its neighbors. Entry into the EC makes future internecine wars unthinkable. That was the easy decision to make. Poland now must confront the financial issue dividing...

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Saving, Asset-Price Inflation, and Debt-Induced Deflation

June 27, 2004
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Saving, Asset-Price Inflation, and Debt-Induced Deflation

Post-Keynesian Conference Kansas City Summary The exponential growth of savings and debt takes the form mainly of loans to finance the purchase of real estate, stocks and bonds. These loans extract interest and amortization charges that divert revenue away from being spent on goods and services. The payment of debt service by the economy’s...

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Russia: Reforming the Reformers

February 27, 2004
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an Interview with Michael Hudson for Counterpunch By STANDARD SCHAEFER On Sunday, March 14, Russians will re-elect Vladimir Putin for a second term as president. In the Duma elections three months earlier, on December 7, his United Russia party won such overwhelming support that he will have the power to rewrite the constitution dictated...

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