Articles

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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The Mathematical Economics of Compound Rates of Interest: A Four-Thousand Year Overview Part I

January 24, 2004
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“Whoever enters here must know mathematics.” That was the motto of Plato’s Academy. Emphasizing such abstract ratios as the Pythagorean proportions of musical temperament and the calendrical regularities of the sun, moon and planets, its philosophy used the mathematics of nature to reveal an underlying harmony and order in the universe and hence, in...

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Will Europe suffer the Swiss Syndrome? What impact on the European and U.S. economies may diversification of central bank reserves into euros have?

November 18, 2003
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International Economy Diversification of central bank reserves into larger holdings of euros is much in the news these days. Quite apart from the widening U.S. trade and payments deficit, the Iraq war has created a backlash that has led some Arab and Islamic politicians to urge OPEC countries to price and sell their oil...

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The Creditary/Monetarist Debate in Historical Perspective

March 25, 2003
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Railway Financing and the Shape of China’s Future: Some Lessons from American Economic History

March 18, 2003
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Report for the Robert Schalkenbach Foundation “Is it British wealth we want when we desire to develop our resources or build railroads? No, we do not need the wealth, for at this moment we are the richest nation on the face of the globe. We need the money.” – John Brown, Parasitic Wealth, or...

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