Goings On Around My Blogosphere

A new place I’ve been reading, Womanist Musings, has some thoughts on Michelle Obama’s role in the upcoming administration.

Robert Reich has a blog on economics I check at least weekly and he wrote a bit of an intro of John Maynard Keynes, allegedly the opposite of Milton Friedman in relation to economic theory.  This is supposed to be simple, but it leaves my mind reeling.

Keynes’ basic idea was simple. In order to keep people fully employed, governments have to run deficits when the economy is slowing. That’s because the private sector won’t invest enough. As their markets become saturated, businesses reduce their investments, setting in motion a dangerous cycle: less investment, fewer jobs, less consumption and even less reason for business to invest. The economy may reach perfect balance, but at a cost of high unemployment and social misery. Better for governments to avoid the pain in the first place by taking up the slack.

And for the largest load of bullshit thus far today –here at DD via David Gergen, continuing the mime of ‘center-right nation.’

Last time I checked, 41% was a failing grade. Not so in the Senate it would appear….On AC360 earlier David Gergen declared:

I think this actually puts a lot more pressure on Barack Obama to govern much more from the center and not from the left. He is going to need Republicans now, he is going to need a bipartisan approach…

Gergen’s refusal to put the burden on the Republicans to be cooperative and “centrist” rather than the Democrats is really a symptom of the persistent beltway “center right nation” conventional wisdom, which always puts the burden on Democrats to be the centrist ones since the Republican Party, so goes the logic, is where the people already are. Was there any greater evidence that the Democratic Party is where the people are than the results on November 4th?

The best for last …. from Susie Madrakat Suburban Guerilla

cheneyxmas-card

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3 Responses

  1. I like your site

    want to exchange reciprocal links?

    remember: “If elections changed anything, they would make them illegal.”

    Would you support my proposals for two new government programs?

    http://ngoldfarb.wordpress.com

  2. Conservative ideologues often cling to the ideas put forth by Adam Smith in The Wealth of Nations which was published in 1776. The thing of it is the coincidence of its publication with the Declaration of Independence doesn’t make it somehow a uniquely American document. Nor is it any act of great patriotism to believe in the Invisible Hand of the Marketplace with near theological fervor. Smith had no idea whatsoever of the existence of the modern multinational corporation, nor of the price fixing and other collusive behavior that they exhibit. Further he was naive even for his own time, ignoring the seamy underside of human nature.

    I first became familiar with Keynes a few months ago, and he strikes me as being the real deal, and what’s needed for modern times. Conservative ideology is dead, or if it’s not it should have the decency to die of shame. We progressives just can’t say that too many times.

    The biblical invisible hand is another matter, and one the GOP should heed. In the book of Daniel it wrote, “God has numbered the days of your reign.”

  3. Smith had no idea whatsoever of the existence of the modern multinational corporation, nor of the price fixing and other collusive behavior that they exhibit. Further he was naive even for his own time, ignoring the seamy underside of human nature

    It’s like basing your theology on a book that was ‘written’ thousand of years ago to champion your kind of morality.

    I have to read up more on Keynes. I’m reading thru a book by Krugman, ‘Return to Depression economics….’ – it’s a bit glib so far.

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